String Inverter - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global String Inverter Market is accounted for $3.36 billion in 2019 and is expected to reach $7.35 billion by 2027 growing at a CAGR of 10.3% during the forecast period. Some of the key factors propelling the growth of the market are refurbishment of the existing grid network, growing energy demand, and investments in rural electrification. However, the availability of auxiliary technologies is the restraining factor for the growth of the market.
A string inverter is a device used with solar arrays to convert the DC energy that is generated to usable AC electricity for a home. They are connected to multiple solar panels forcing the performance to be equal to the worst performing panel.
By power rating, the 41 kW – 80 kW segment is expected to grow at a significant market share during the forecast period due to its compact size and lightweight and the ability to provide a higher level of protection in a harsh outdoor environment. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period which is attributed to the incentives such as feed-in traffics and tenders by various governments in the region.
Some of the key players in String Inverter Market include Schneider Electric Solar, ABB Limited, Delta Energy System GmbH, Huawei Technologies Co Ltd, Fronius International GmbH, Solarmax Group, Chint Power Systems, SMA Solar Technology AG, HyECO Power Tech, SolarEdge Technologies, Sungrow Power Supply Co Ltd, Samil Power Co Ltd, KACO New Energy GmbH, Growatt New Energy Technology Co Ltd, and Shenzhen SORO Electronics.
System Types Covered:
Power Ratings Covered:
• Up to 10 kW
• 11 kW – 40 kW
• 41 kW – 80 kW
• Above 80 kW
Power Classes Covered:
• Single Phase
• Three Phase
Nominal Output Voltages Covered:
• ≤230 V
• 230 - 400 V
• >400 V
Nominal Output Powers Covered:
• >1500 W
• 500 - 1500 W
• ≤500 W
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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