North America Power Optimizer Market Size, Share & Industry Trends Analysis Report By Connectivity (On-grid and Standalone), By Application (Utility, Commercial and Residential), By End Use, By Country and Growth Forecast, 2022 - 2028
The North America Power Optimizer Market would witness market growth of 9.7% CAGR during the forecast period (2022-2028).
The power imbalance between PV modules in a string can result in a dramatic and excessive loss of power from the whole solar array due to their sequential wiring, and in rare situations, can cause the entire system to fail. In some cases, shading of as little as 9% of a PV system's total surface array might result in a 54% loss of power throughout the entire array.
Even the slightest variations in panel performance owing to dirt, differential age, or minute variances during manufacturing can cause the array as a whole to operate outside of its optimal MPPT point, a problem that is particularly noticeable with big occurrences like a passing shadow. The process of panel matching is crucial to the design of solar arrays. In essence, power optimizers are DC-DC converters that take the DC power from solar panels at the optimum possible voltage and current (through MPPT), then change it to a different voltage and current that is best suited for the central or string inverter.
The adoption of solar energy storage as a virtual power plant and increased investments in renewable energy technology are propelling the rise of DC optimizers in the United States. The United States lies under the top countries for renewable energy investment. Large-scale funding from both public and private investors will have a positive effect on the uptake of solar power. For instance, Natural Resources Canada introduced a USD 964 million program for grid modernization and clever deployment of renewable energy projects in June 2021. Additionally, substantial government subsidies and falling input costs will promote market expansion.
The US market dominated the North America Power Optimizer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,067.2 million by 2028. The Canada market is poised to grow at a CAGR of 12.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 11.2% during (2022 - 2028).
Based on Connectivity, the market is segmented into On-grid and Standalone. Based on Application, the market is segmented into Utility, Commercial and Residential. Based on End Use, the market is segmented into Module Level MPPT, Advanced Power Line Communication, Monitoring Components, Safety Shutdown Components and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delta Electronics, Inc., SunPower Corporation, KACO new energy GmbH, Alencon Systems, LLC, SolarEdge Technologies, Inc., Enphase Energy, Inc., Tigo Energy, Inc., Altenergy Power System, Inc., Solantro Semiconductor Corp., and Sparq Systems Inc.
Scope of the Study
Market Segments covered in the Report:
By Connectivity
- On-grid
- Standalone
- Utility
- Commercial
- Residential
- Module Level MPPT
- Advanced Power Line Communication
- Monitoring Components
- Safety Shutdown Components
- Others
- US
- Canada
- Mexico
- Rest of North America
- Delta Electronics, Inc.
- SunPower Corporation
- KACO new energy GmbH
- Alencon Systems, LLC
- SolarEdge Technologies, Inc.
- Enphase Energy, Inc.
- Tigo Energy, Inc.
- Altenergy Power System, Inc.
- Solantro Semiconductor Corp.
- Sparq Systems Inc.
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Power Optimizer Market, by Connectivity
- 1.4.2 North America Power Optimizer Market, by Application
- 1.4.3 North America Power Optimizer Market, by End Use
- 1.4.4 North America Power Optimizer Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market composition and scenario
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
- Chapter 3. Recent Strategies deployed in Power Optimizer Market
- Chapter 4. North America Power Optimizer Market by Connectivity
- 4.1 North America On-grid Market by Country
- 4.2 North America Standalone Market by Country
- Chapter 5. North America Power Optimizer Market by Application
- 5.1 North America Utility Market by Country
- 5.2 North America Commercial Market by Country
- 5.3 North America Residential Market by Country
- Chapter 6. North America Power Optimizer Market by End Use
- 6.1 North America Module Level MPPT Market by Country
- 6.2 North America Advanced Power Line Communication Market by Country
- 6.3 North America Monitoring Components Market by Country
- 6.4 North America Safety Shutdown Components Market by Country
- 6.5 North America Others Market by Country
- Chapter 7. North America Power Optimizer Market by Country
- 7.1 US Power Optimizer Market
- 7.1.1 US Power Optimizer Market by Connectivity
- 7.1.2 US Power Optimizer Market by Application
- 7.1.3 US Power Optimizer Market by End Use
- 7.2 Canada Power Optimizer Market
- 7.2.1 Canada Power Optimizer Market by Connectivity
- 7.2.2 Canada Power Optimizer Market by Application
- 7.2.3 Canada Power Optimizer Market by End Use
- 7.3 Mexico Power Optimizer Market
- 7.3.1 Mexico Power Optimizer Market by Connectivity
- 7.3.2 Mexico Power Optimizer Market by Application
- 7.3.3 Mexico Power Optimizer Market by End Use
- 7.4 Rest of North America Power Optimizer Market
- 7.4.1 Rest of North America Power Optimizer Market by Connectivity
- 7.4.2 Rest of North America Power Optimizer Market by Application
- 7.4.3 Rest of North America Power Optimizer Market by End Use
- Chapter 8. Company Profiles
- 8.1 Delta Electronics, Inc. (Delta Energy systems GmbH)
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expense
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Product Launches and Product Expansions:
- 8.2 SunPower Corporation (Infineon Technologies AG)
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental Analysis
- 8.2.4 Research & Development Expenses
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Acquisition and Mergers:
- 8.3 KACO new energy GmbH (Siemens AG)
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expenses
- 8.4 Alencon Systems, LLC
- 8.4.1 Company Overview
- 8.4.2 Recent strategies and developments:
- 8.4.2.1 Partnerships, Collaborations, and Agreements:
- 8.4.2.2 Geographical Expansions:
- 8.5 SolarEdge Technologies, Inc.
- 8.5.1 Company Overview
- 8.5.2 Recent strategies and developments:
- 8.5.2.1 Partnerships, Collaborations, and Agreements:
- 8.5.2.2 Product Launches and Product Expansions:
- 8.6 Enphase Energy, Inc.
- 8.6.1 Company Overview
- 8.6.2 Recent strategies and developments:
- 8.6.2.1 Partnerships, Collaborations, and Agreements:
- 8.6.2.2 Acquisition and Mergers:
- 8.6.2.3 Geographical Expansions:
- 8.7 Tigo Energy, Inc.
- 8.7.1 Company Overview
- 8.7.2 Recent strategies and developments:
- 8.7.2.1 Partnerships, Collaborations, and Agreements:
- 8.7.2.2 Product Launches and Product Expansions:
- 8.8 Altenergy Power System, Inc.
- 8.8.1 Company Overview
- 8.9 Solantro Semiconductor Corp. (Huada Semiconductor Co., Ltd.)
- 8.9.1 Company Overview
- 8.10. Sparq Systems Inc.
- 8.10.1 Company Overview
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