Product Code: 3075
The power optimizer market is slated to growth is slated to follow an exponential trajectory by 2028, with increasing environmental concerns, surging focus on reducing carbon emissions, and implementation of stringent emission regulations by multiple governments fueling the revenue growth.
The Solar Futures study by the U.S. Department of Energy's Solar Energy Technologies Office in 2021, represented a "Decarbonization with Electrification" (Decarb+E) scenario demonstrating large-scale benefits of electrification and the vast potential of solar. As per the study, solar is expected to amplify decarbonization of the U.S. energy system by 2050. With respect to the wider U.S. energy system, the proposed Decarb+E scenario lowers CO2 emissions by 62% in 2050.
Studies such as these are making strong cases for renewable capacity installation, creating lucrative opportunities for the optimizer industry.
The global power optimizer market is segmented into end-use, connectivity, application, and regions covered.
In terms of end-use, the market is categorized into advanced power line communication, module level MPPT, safety shutdown components, monitoring components, and others.
In 2021, advanced power line communication market recorded a volume of over 1,020 MW. Going forward, the segment is slated to experience notable growth.
Meanwhile, the safety shutdown components segment is estimated to gain a revenue share of more than $280 million by 2028. These components form a vital part of an industrial facility as they ensure safety in case of emergencies. Large dependence on safety shutdown systems across industrial applications is expected to fuel the demand for power optimizers across the market.
With respect to region, the power optimizer market in Middle East and Africa is projected to significantly grow in volume. The regional segment is slated to witness a CAGR of more than 14% throughout the forecast timeframe. Saudi Arabia's leading smart and clean infrastructure project initiatives in the MEA region are likely to boost the demand for power optimizers in the region.
Saudi Arabia recently announced projects that would expand its existing solar energy capacity by approximately 40 gigawatts by 2025. Currently, the country boasts of a total solar capacity of 455 MW.
The kingdom nation announced projects such as the NEOM smart city initiative, which would include a $5 billion hydrogen plant, as well as the Red Sea Project, which would have the capacity to generate more than 400 MW of solar energy. The project would also host the world's largest off-grid energy project. Due to the extensive rise in solar power initiatives and surge in solar panel installations, the country offers lucrative scope for power optimizer market.
The Latin American power optimizer industry is poised to witness revenue growth of above $70 million by the end of the forecast timeline. The region has enticed large investments and massive solar power projects in the recent times, representing potential growth in demand for power optimizers.
In 2021, Latin America rolled out its first concentrated solar power plant in Chile, backed by European Union (EU), KfW and KfW IPEX-Bank. The Cerro Dominador project is the region's first ever combined initiative, combining photovoltaic system with solar thermal, designed to supply over 380,000 homes with 100% clean renewable energy.
The project has helped LATAM make significant contributions towards the global fight against climate change and reduce the 870,000 tonnes of CO2 emissions annually.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Methodology
- 1.2 Market definitions
- 1.3 Market estimates and forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Power optimizer industry 360 degree synopsis, 2018 - 2028
- 2.1.1 Business trends
- 2.1.2 End use trends
- 2.1.3 Connectivity trends
- 2.1.4 Application trends
- 2.1.5 Regional trends
Chapter 3 Power Optimizer Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Innovation & technology landscape
- 3.2.1 Tigo Energy, Inc.
- 3.2.2 Huawei Technologies Co., Ltd.
- 3.2.3 SolarEdge Technologies, Inc
- 3.2.4 Infineon Technologies AG
- 3.3 Regulatory landscape
- 3.3.1 U.S.
- 3.3.1.1 U.S. Feed-in Tariff Programs
- 3.3.2 Brazil
- 3.3.2.1 Brazil Renewable Energy Targets
- 3.3.3 Japan
- 3.3.4 UK
- 3.3.4.1 The UK's National Energy Efficiency Action Plan
- 3.3.4.2 Feed-In Tariff (FIT)
- 3.3.4.3 Export Feed-In Tariff (FIT)
- 3.3.5 Spain
- 3.3.5.1 Spain's Second Renewable Energy Auction 2017
- 3.3.5.2 Support schemes
- 3.3.5.3 Policies
- 3.3.6 Mexico
- 3.4 COVID- 19 impact on the industry outlook
- 3.4.1 Top 10 countries impacted by COVID- 19
- 3.4.2 Overall Scenario
- 3.5 Industry impact forces
- 3.5.1 Growth drivers
- 3.5.1.1 North America & Europe
- 3.5.1.1.1 Positive clean energy outlook
- 3.5.1.1.2 Favorable regulatory inclination towards sustainable energy
- 3.5.1.2 Asia Pacific
- 3.5.1.2.1 Large-scale renewable integration
- 3.5.1.2.2 Growing energy demand across isolated areas
- 3.5.1.3 Middle East & Africa
- 3.5.1.3.1 Restructuring & revamping of existing electrical infrastructure
- 3.5.1.4 Latin America
- 3.5.1.4.1 Integration of a sustainable energy infrastructure
- 3.5.2 Restraint
- 3.5.2.1 Availability of auxiliary technologies
- 3.6 Solar PV industry growth trend analysis
- 3.7 Global power optimizer shipments
- 3.8 Growth potential analysis
- 3.9 Porter's Analysis
- 3.9.1 Bargaining power of suppliers
- 3.9.2 Bargaining power of buyers
- 3.9.3 Threat of new entrants
- 3.9.4 Threat of substitutes
- 3.10 Competitive landscape, 2021
- 3.10.1 Strategy dashboard
- 3.10.1.1 Tigo Energy, Inc.
- 3.10.1.2 Partnership
- 3.10.1.3 SolarEdge Technologies, Inc
- 3.10.1.4 ferroamp
- 3.10.1.5 Alencon Systems, LLC
- 3.11 PESTEL Analysis
Chapter 4 Power Optimizer Market, By End Use
- 4.1 Power optimizer market share by end use, 2021 & 2028
- 4.2 Module level MPPT
- 4.2.1 Global market from module level MPPT, 2018 - 2028
- 4.2.2 Global market from module level MPPT, by region, 2018 - 2028
- 4.3 Advanced power line communication
- 4.3.1 Global market from advanced power line communication, 2018 - 2028
- 4.3.2 Global market from advanced power line communication, by region, 2018 - 2028
- 4.4 Monitoring components
- 4.4.1 Global market from monitoring components, 2018 - 2028
- 4.4.2 Global market from monitoring components, by region, 2018 - 2028
- 4.5 Safety shutdown components
- 4.5.1 Global market from safety shutdown components, 2018 - 2028
- 4.5.2 Global market from safety shutdown components, by region, 2018 - 2028
- 4.6 Others
- 4.6.1 Global market from others, 2018 - 2028
- 4.6.2 Global market from others, by region, 2018 - 2028
Chapter 5 Power Optimizer Market, By Connectivity
- 5.1 Power optimizer market share by connectivity, 2021 & 2028
- 5.2 Standalone
- 5.2.1 Global market from standalone, 2018 - 2028
- 5.2.2 Global market from standalone, by region, 2018 - 2028
- 5.3 On grid
- 5.3.1 Global market from on grid, 2018 - 2028
- 5.3.2 Global market from on grid, by region, 2018 - 2028
Chapter 6 Power Optimizer Market, By Application
- 6.1 Power optimizer market share by application, 2021 & 2028
- 6.2 Residential
- 6.2.1 Global market from residential, 2018 - 2028
- 6.2.2 Global market from residential, by region, 2018 - 2028
- 6.3 Commercial & industrial
- 6.3.1 Global market from commercial & industrial, 2018 - 2028
- 6.3.2 Global market from commercial & industrial, by region, 2018 - 2028
- 6.4 Utility
- 6.4.1 Global market from utility, 2018 - 2028
- 6.4.2 Global market from utility, by region, 2018 - 2028
Chapter 7 Power Optimizer Market, By Region
- 7.1 Power optimizer market share by region, 2021 & 2028
- 7.2 North America
- 7.2.1 North America market, 2018 - 2028
- 7.2.2 North America market by end use, 2018 - 2028
- 7.2.3 North America market by connectivity, 2018 - 2028
- 7.2.4 North America market by application, 2018 - 2028
- 7.2.5 U.S.
- 7.2.5.1 U.S. market, 2018 - 2028
- 7.2.5.2 U.S. market by end use, 2018 - 2028
- 7.2.5.3 U.S. market by connectivity, 2018 - 2028
- 7.2.5.4 U.S. market by application, 2018 - 2028
- 7.2.6 Canada
- 7.2.6.1 Canada market, 2018 - 2028
- 7.2.6.2 Canada market by end use, 2018 - 2028
- 7.2.6.3 Canada market by connectivity, 2018 - 2028
- 7.2.6.4 Canada market by application, 2018 - 2028
- 7.2.7 Mexico
- 7.2.7.1 Mexico market, 2018 - 2028
- 7.2.7.2 Mexico market by end use, 2018 - 2028
- 7.2.7.3 Mexico market by connectivity, 2018 - 2028
- 7.2.7.4 Mexico market by application, 2018 - 2028
- 7.3 Europe
- 7.3.1 Europe market, 2018 - 2028
- 7.3.2 Europe market by end use, 2018 - 2028
- 7.3.3 Europe market by connectivity, 2018 - 2028
- 7.3.4 Europe market by application, 2018 - 2028
- 7.3.5 UK
- 7.3.5.1 UK market, 2018 - 2028
- 7.3.5.2 UK market by end use, 2018 - 2028
- 7.3.5.3 UK market by connectivity, 2018 - 2028
- 7.3.5.4 UK market by application, 2018 - 2028
- 7.3.6 France
- 7.3.6.1 France market, 2018 - 2028
- 7.3.6.2 France market by end use, 2018 - 2028
- 7.3.6.3 France market by connectivity, 2018 - 2028
- 7.3.6.4 France market by application, 2018 - 2028
- 7.3.7 Netherlands
- 7.3.7.1 Netherlands market, 2018 - 2028
- 7.3.7.2 Netherlands market by end use, 2018 - 2028
- 7.3.7.3 Netherlands market by connectivity, 2018 - 2028
- 7.3.7.4 Netherlands market by application, 2018 - 2028
- 7.3.8 Italy
- 7.3.8.1 Italy market, 2018 - 2028
- 7.3.8.2 Italy market by end use, 2018 - 2028
- 7.3.8.3 Italy market by connectivity, 2018 - 2028
- 7.3.8.4 Italy market by application, 2018 - 2028
- 7.3.9 Germany
- 7.3.9.1 Germany market, 2018 - 2028
- 7.3.9.2 Germany market by end use, 2018 - 2028
- 7.3.9.3 Germany market by connectivity, 2018 - 2028
- 7.3.9.4 Germany market by application, 2018 - 2028
- 7.3.10 Sweden
- 7.3.10.1 Sweden market, 2018 - 2028
- 7.3.10.2 Sweden market by end use, 2018 - 2028
- 7.3.10.3 Sweden market by connectivity, 2018 - 2028
- 7.3.10.4 Sweden market by application, 2018 - 2028
- 7.3.11 Russia
- 7.3.11.1 Russia market, 2018 - 2028
- 7.3.11.2 Russia market by end use, 2018 - 2028
- 7.3.11.3 Russia market by connectivity, 2018 - 2028
- 7.3.11.4 Russia market by application, 2018 - 2028
- 7.3.12 Spain
- 7.3.12.1 Spain market, 2018 - 2028
- 7.3.12.2 Spain market by end use, 2018 - 2028
- 7.3.12.3 Spain market by connectivity, 2018 - 2028
- 7.3.12.4 Spain market by application, 2018 - 2028
- 7.3.13 Austria
- 7.3.13.1 Austria market, 2018 - 2028
- 7.3.13.2 Austria market by end use, 2018 - 2028
- 7.3.13.3 Austria market by connectivity, 2018 - 2028
- 7.3.13.4 Austria market by application, 2018 - 2028
- 7.3.14 Ireland
- 7.3.14.1 Ireland market, 2018 - 2028
- 7.3.14.2 Ireland market by end use, 2018 - 2028
- 7.3.14.3 Ireland market by connectivity, 2018 - 2028
- 7.3.14.4 Ireland market by application, 2018 - 2028
- 7.3.15 Finland
- 7.3.15.1 Finland market, 2018 - 2028
- 7.3.15.2 Finland market by end use, 2018 - 2028
- 7.3.15.3 Finland market by connectivity, 2018 - 2028
- 7.3.15.4 Finland market by application, 2018 - 2028
- 7.3.16 Denmark
- 7.3.16.1 Denmark market, 2018 - 2028
- 7.3.16.2 Denmark market by end use, 2018 - 2028
- 7.3.16.3 Denmark market by connectivity, 2018 - 2028
- 7.3.16.4 Denmark market by application, 2018 - 2028
- 7.3.17 Belgium
- 7.3.17.1 Belgium market, 2018 - 2028
- 7.3.17.2 Belgium market by end use, 2018 - 2028
- 7.3.17.3 Belgium market by connectivity, 2018 - 2028
- 7.3.17.4 Belgium market by application, 2018 - 2028
- 7.3.18 Norway
- 7.3.18.1 Norway market, 2018 - 2028
- 7.3.18.2 Norway market by end use, 2018 - 2028
- 7.3.18.3 Norway market by connectivity, 2018 - 2028
- 7.3.18.4 Norway market by application, 2018 - 2028
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific market, 2018 - 2028
- 7.4.2 Asia Pacific market by end use, 2018 - 2028
- 7.4.3 Asia Pacific market by connectivity, 2018 - 2028
- 7.4.4 Asia Pacific market by application, 2018 - 2028
- 7.4.5 China
- 7.4.5.1 China market, 2018 - 2028
- 7.4.5.2 China market by end use, 2018 - 2028
- 7.4.5.3 China market by connectivity, 2018 - 2028
- 7.4.5.4 China market by application, 2018 - 2028
- 7.4.6 Australia
- 7.4.6.1 Australia market, 2018 - 2028
- 7.4.6.2 Australia market by end use, 2018 - 2028
- 7.4.6.3 Australia market by connectivity, 2018 - 2028
- 7.4.6.4 Australia market by application, 2018 - 2028
- 7.4.7 India
- 7.4.7.1 India market, 2018 - 2028
- 7.4.7.2 India market by end use, 2018 - 2028
- 7.4.7.3 India market by connectivity, 2018 - 2028
- 7.4.7.4 India market by application, 2018 - 2028
- 7.4.8 South Korea
- 7.4.8.1 South Korea market, 2018 - 2028
- 7.4.8.2 South Korea market by end use, 2018 - 2028
- 7.4.8.3 South Korea market by connectivity, 2018 - 2028
- 7.4.8.4 South Korea market by application, 2018 - 2028
- 7.4.9 Japan
- 7.4.9.1 Japan market, 2018 - 2028
- 7.4.9.2 Japan market by end use, 2018 - 2028
- 7.4.9.3 Japan market by connectivity, 2018 - 2028
- 7.4.9.4 Japan market by application, 2018 - 2028
- 7.5 Middle East & Africa
- 7.5.1 Middle East & Africa market, 2018 - 2028
- 7.5.2 Middle East & Africa market by end use, 2018 - 2028
- 7.5.3 Middle East & Africa market by connectivity, 2018 - 2028
- 7.5.4 Middle East & Africa market by application, 2018 - 2028
- 7.5.5 Saudi Arabia
- 7.5.5.1 Saudi Arabia market, 2018 - 2028
- 7.5.5.2 Saudi Arabia market by end use, 2018 - 2028
- 7.5.5.3 Saudi Arabia market by connectivity, 2018 - 2028
- 7.5.5.4 Saudi Arabia market by application, 2018 - 2028
- 7.5.6 UAE
- 7.5.6.1 UAE market, 2018 - 2028
- 7.5.6.2 UAE market by end use, 2018 - 2028
- 7.5.6.3 UAE market by connectivity, 2018 - 2028
- 7.5.6.4 UAE market by application, 2018 - 2028
- 7.5.7 South Africa
- 7.5.7.1 South Africa market, 2018 - 2028
- 7.5.7.2 South Africa market by end use, 2018 - 2028
- 7.5.7.3 South Africa market by connectivity, 2018 - 2028
- 7.5.7.4 South Africa market by application, 2018 - 2028
- 7.6 Latin America
- 7.6.1 Latin America market, 2018 - 2028
- 7.6.2 Latin America market by end use, 2018 - 2028
- 7.6.3 Latin America market by connectivity, 2018 - 2028
- 7.6.4 Latin America market by application, 2018 - 2028
- 7.6.5 Brazil
- 7.6.5.1 Brazil market, 2018 - 2028
- 7.6.5.2 Brazil market by end use, 2018 - 2028
- 7.6.5.3 Brazil market by connectivity, 2018 - 2028
- 7.6.5.4 Brazil market by application, 2018 - 2028
- 7.6.6 Chile
- 7.6.6.1 Chile market, 2018 - 2028
- 7.6.6.2 Chile market by end use, 2018 - 2028
- 7.6.6.3 Chile market by connectivity, 2018 - 2028
- 7.6.6.4 Chile market by application, 2018 - 2028
Chapter 8 Company Profiles
- 8.1 Tigo Energy, Inc.
- 8.1.1 Business Overview
- 8.1.2 Financial Data
- 8.1.3 Product Landscape
- 8.1.4 Strategic Outlook
- 8.1.5 SWOT Analysis
- 8.2 Ampt, LLC.
- 8.2.1 Business Overview
- 8.2.2 Financial Data
- 8.2.3 Product Landscape
- 8.2.4 SWOT Analysis
- 8.3 Huawei Technologies Co., Ltd.
- 8.3.1 Business Overview
- 8.3.2 Financial Data
- 8.3.3 Product Landscape
- 8.3.4 Strategic Outlook
- 8.3.5 SWOT Analysis
- 8.4 SolarEdge Technologies Inc.
- 8.4.1 Business Overview
- 8.4.2 Financial Data
- 8.4.3 Product Landscape
- 8.4.4 Strategic Outlook
- 8.4.5 SWOT Analysis
- 8.5 ferroamp
- 8.5.1 Business Overview
- 8.5.2 Financial Data
- 8.5.3 Product Landscape
- 8.5.4 Strategic Outlook
- 8.5.5 SWOT Analysis
- 8.6 Alencon Systems, LLC
- 8.6.1 Business Overview
- 8.6.2 Financial Data
- 8.6.3 Product Landscape
- 8.6.4 Strategic Outlook
- 8.6.5 SWOT Analysis
- 8.7 Fronius International GmbH
- 8.7.1 Business Overview
- 8.7.2 Financial Data
- 8.7.3 Product Landscape
- 8.7.4 SWOT Analysis
- 8.8 PCE Process Control Electronic GmbH
- 8.8.1 Business Overview
- 8.8.2 Product Landscape
- 8.8.3 SWOT Analysis
- 8.9 Altenergy Power System Inc
- 8.9.1 Business Overview
- 8.9.2 Financial Data
- 8.9.3 Product Landscape
- 8.9.4 SWOT Analysis
- 8.10 Infineon Technologies AG
- 8.10.1 Business Overview
- 8.10.2 Financial Data
- 8.10.3 Product Landscape
- 8.10.4 Strategic Outlook
- 8.10.5 SWOT Analysis
- 8.11 Sun Sine Solution Private Limited
- 8.11.1 Business Overview
- 8.11.2 Financial Data
- 8.11.3 Product Landscape
- 8.11.4 SWOT Analysis
- 8.12 Suzhou Convert Semiconductor Co., Ltd.
- 8.12.1 Business Overview
- 8.12.2 Financial Data
- 8.12.3 Product Landscape
- 8.12.4 SWOT Analysis