PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1227625
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1227625
UK String Inverter Market - By Connection Type ; By Phase ; By End Use ; By Nominal Output Power, Trend Analysis, Competitive Landscape & Forecast, 2019-2029
UK String Inverter Market Size Flourishing to Touch USD 427 Million by 2029.
UK string inverter market is expanding due to rapid development in the renewable energy sector, the simplicity of installing string inverters, an increase in government efforts, and investments in the electrification of rural and isolated areas.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the UK string inverter market size at USD 266.91 million in 2022. During the forecast period between 2023 and 2029, the UK string inverter market size is projected to grow at an impressive CAGR of 7.05% reaching a value of USD 426.67 million by 2029. The rapid growth of the renewable energy sector and the ease of string inverter installation are the main factors propelling the market's expansion throughout the forecast period. Also, it is expected that increased government initiatives and investments in the electrification of remote and rural areas will assist the top competitors in the string inverter market.
UK String Inverter market - Overview
The string inverter in a solar system converts the direct current (DC) electricity generated by the solar panels into the alternating current (AC) power required by electrical appliances. Solar inverters track voltage, communicate with the grid, and shut down in an emergency, in addition to converting power. On-grid inverters, as opposed to off-grid string inverters, produce pure sine waves of AC electricity, which increases their use and ensures the efficiency and safety of home equipment. String inverters are most commonly used in residential and commercial applications, in addition to being increasingly used in small utility projects across the UK.
UK String Inverter market - By Connection Type
The UK string inverter market is divided into two segments: on-grid and off-grid. The on-grid segment holds a higher market share, due to increasing investments in direct supply of electricity rather than storing it in batteries. In addition, rising electricity demand from emerging economies drives demand for on-string inverter applications in solar.
Competitive Landscape:
UK string inverter market is fiercely competitive. Major competitors in the market include Fronius UK Ltd, SMA Solar Technology UK Ltd, ABB Limited, Delta Energy Systems (UK) Ltd, SolarEdge Technologies UK Ltd, Tigo Energy UK Ltd, Huawei Technologies Co., Ltd., and Eaton Electric Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the UK string inverter market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of UK String Inverter Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in UK String Inverter Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. UK String Inverter Market Insights
- 3.1. Industry Value Chain Analysis
- 3.1.1. DROC Analysis
- 3.1.2. Growth Drivers
- 3.1.2.1. Growing demand for renewable energy
- 3.1.2.2. Government incentives and subsidies
- 3.1.3. Restraints
- 3.1.3.1. High cost of installation
- 3.1.3.2. Lack of standardization
- 3.1.4. Opportunities
- 3.1.4.1. Adoption of technology advancements
- 3.1.5. Challenges
- 3.1.5.1. Competition from alternative energy solutions
- 3.2. Technology Advancement/Recent Developments
- 3.3. Regulatory Framework
- 3.4. Porter's Five Forces Analysis
- 3.4.1. Bargaining Power of Suppliers
- 3.4.2. Bargaining Power of Buyers
- 3.4.3. Threat of New Entrants
- 3.4.4. Threat of Substitutes
- 3.4.5. Intensity of Rivalry
4. UK String Inverter Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Connection Type
- 4.2.1.1. On-Grid
- 4.2.1.2. Off-Grid
- 4.2.2. By Phase
- 4.2.2.1. Single Phase
- 4.2.2.2. Three Phase
- 4.2.3. By End Use
- 4.2.3.1. Residential
- 4.2.3.2. Commercial & Industrial
- 4.2.3.3. Utilities
- 4.2.4. By Nominal Output Power
- 4.2.4.1. < 3 kW
- 4.2.4.2. 3-33 kW
- 4.2.4.3. 33-110 kW
- 4.2.4.4. >110 kW
- 4.2.1. By Connection Type
5. Competitive Landscape
- 5.1. List of Key Players and Their Connection Types
- 5.2. Vietnam Nematicide Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on UK String Inverter Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. Fronius UK Ltd
- 7.2. SMA Solar Technology UK Ltd
- 7.3. ABB Limited
- 7.4. Delta Energy Systems (UK) Ltd
- 7.5. SolarEdge Technologies UK Ltd
- 7.6. Tigo Energy UK Ltd
- 7.7. Huawei Technologies Co., Ltd.
- 7.8. Eaton Electric Ltd.
- 7.9. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents
- 9.5. Assumptions & Limitations
*Financial information in case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
- Figure 1 UK String Inverter Market Segmentation
- Figure 2 UK String Inverter Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 UK String Inverter Market Size, By Value (USD Million), 2019-2029
- Figure 5 UK String Inverter Market Share, By Connection Type, By Value, 2019-2029
- Figure 6 UK String Inverter Market Share, By Phase, By Value, 2019-2029
- Figure 7 UK String Inverter Market Share, By End Use, By Value, 2019-2029
- Figure 8 UK String Inverter Market Share, By Nominal Output Power, By Value, 2019-2029
List of Tables
- Table 1 UK String Inverter Market Size, By Connection Type, By Value, 2019-2029
- Table 2 UK String Inverter Market Size, By Phase, By Value, 2019-2029
- Table 3 UK String Inverter Market Size, By End Use, By Value, 2019-2029
- Table 4 UK String Inverter Market Size, By Nominal Output Power, By Value, 2019-2029
- Table 5 Fronius UK Ltd Company Overview
- Table 6 Fronius UK Ltd Financial Overview
- Table 7 SMA Solar Technology UK Ltd Company Overview
- Table 8 SMA Solar Technology UK Ltd Financial Overview
- Table 9 ABB Limited Company Overview
- Table 10 ABB Limited Financial Overview
- Table 11 Delta Energy Systems (UK) Ltd Company Overview
- Table 12 Delta Energy Systems (UK) Ltd Financial Overview
- Table 13 SolarEdge Technologies UK Ltd Company Overview
- Table 14 SolarEdge Technologies UK Ltd Financial Overview
- Table 15 Tigo Energy UK Ltd Company Overview
- Table 16 Tigo Energy UK Ltd Financial Overview
- Table 17 Huawei Technologies Co., Ltd. Company Overview
- Table 18 Huawei Technologies Co., Ltd. Financial Overview
- Table 19 Eaton Electric Ltd. Company Overview
- Table 20 Eaton Electric Ltd. Financial Overview
