PUBLISHER: TechSci Research | PRODUCT CODE: 1101564
PUBLISHER: TechSci Research | PRODUCT CODE: 1101564
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The global string inverter market is expected to grow at a steady CAGR in the forecast period, 2023-2027. Factors such as the rise in demand for reliable and continuous energy generation and installation, along with long-scale utility projects and stringent government policies, are primarily driving the demand for the global string inverter market. Also, the increased adoption of solar energy and reduction of component costs are expected to contribute to global string inverter market growth.
The global string inverter market is segmented into phase, system type, power rating, end-user, regional distribution, and company. Based on regional analysis, Asia-Pacific dominates the market and is expected to maintain its dominance through the next five years.
Government initiatives and policies, including tax benefits and RPO for the installation of solar energy panels, are driving the market demand. An increase in demand for fuels emitting lower emissions boosts the global string inverter market demand.
The major players operating in the global string inverter market are KACO New Energy GmbH, Delta Energy Systems GmbH, ABB Limited, Fronius International GmbH, SMA Solar Technology AG, Huawei Technologies Co. Ltd, Solaredge Technologies, Inc., Growatt New Energy Technology Co., Ltd., Ginlong Technologies, Solarmax Group, and others. Major companies are developing advanced technologies and launching new products to stay competitive in the market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global string inverter market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global string inverter market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Single
Three
On-Grid
Off-Grid
Up to 10kW
11kW-40kW
41kW-80kW
Above 80kW
Residential
Commercial & Industrial
Utilities
North America
Europe
Asia-Pacific
Middle East & Africa
South America
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global string inverter market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information