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Global String Inverters Market 2017-2021

Global String Inverters Market 2017-2021

About String Inverters

The global string inverters market is expected to grow at a steady rate during the forecast period. The primary applications that are driving the growth of string inverter systems are wind, solar PV, and others. The renewable energy market, especially solar and wind, has grown tremendously owing to the different global and national mandates to reduce greenhouse gas (GHG) emissions. This growth has boosted the global string inverters market and is expected to continue to do so during the forecast period. In addition, other end-users such as residential and commercial sectors as well as power utilities are increasingly adopting inverters to ensure the smooth functioning of their operations.

Technavio’s analysts forecast the global string inverters market to grow at a CAGR of 8.48% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global string inverters market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sale of inverters in different end-user industries.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global String Inverters Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ABB
  • Huawei Technologies
  • Schneider Electric
  • SMA Solar Technology
  • SUNGROW
Other prominent vendors
  • Delta Energy Systems
  • Fronius International
  • Growatt Shenzhen
  • KACO new energy
  • Ningbo Ginlong Technologies
  • Samil Power
  • SHANGHAI Chint Power Systems
  • SolarEdge Technologies
  • Yaskawa - Solectria Solar
Market driver
  • Declining prices of inverter systems.
  • For a full, detailed list, view our report
Market challenge
  • Intermittent nature of solar energy.
  • For a full, detailed list, view our report
Market trend
  • Growing popularity of green buildings.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global String Inverters Market 2017-2021

Technavio recognizes the following companies as the key players in the global string inverters market: ABB, Huawei Technologies, Schneider Electric, SMA Solar Technology, and SUNGROW.

Other Prominent Vendors in the market are: Delta Energy Systems, Fronius International, Growatt Shenzhen, KACO new energy, Ningbo Ginlong Technologies, Samil Power, SHANGHAI Chint Power Systems, SolarEdge Technologies, and Yaskawa - Solectria Solar.

Commenting on the report, an analyst from Technavio’s team said: “One trend in market is reduction in solar PV cost. One of the major hurdles to the adoption of renewables is their intermittent nature. Energy storage bridges the gap, and it is also used to increase the renewable energy penetration in hybrid systems. For instance, a standard PV could produce 20%-30% of the power. However, with the addition of an ESS (battery), the power from solar PV could go beyond 60%-70%.”

According to the report, one driver in market is declining prices of inverter systems. Vendors in APAC offer inverters at lower prices than the international vendors. This has led to a price war among vendors. In 2015, China was one the largest markets for solar PV inverters and battery systems globally and is likely to dominate the market during the forecast period. The country is increasingly focusing on the development of string and central inverters that have a capacity of 1,500 V. The price of inverters is declining in China due to market consolidation. Intense competition in the Chinese market resulted in a 10% decline in inverter prices in 2015, wherein central inverters were priced between $0.03-$0.05/W (CNY 0.20-CNY 0.28/watt) and string inverters ranged between $0.06-$0.08/W (CNY 0.40-CNY 0.50/watt). The average price of a PV inverter in China saw a steep price decline of about 60% during 2006-2010. This trend is projected to continue as the implementation of significant tariff cuts will impact the demand for PV inverters by 2020.

Further, the report states that one challenges in market is changing market dynamics. Inverters are involved in the complex process of energy production via integrated monitoring technology. These are required to work continuously to produce reliable power in challenging environmental conditions. With the growing use of solar PV inverters worldwide, consumers and regulatory bodies are increasingly demanding multiple AC grid standards and changes in building standards. This adds to the operational costs of manufacturers. Downward pricing pressures, changing global trends, shifting subsidy markets, fluctuating energy prices, and evolving dynamics of the global finance market are some of the key issues affecting the global solar industry. This will have an impact on inverter manufacturers. As a result, these manufacturers are required to constantly innovate and enhance their product offerings.

Companies Mentioned

ABB, Huawei Technologies, Schneider Electric, SMA Solar Technology, SUNGROW, Delta Energy Systems, Fronius International, Growatt Shenzhen, KACO new energy, Ningbo Ginlong Technologies, Samil Power, SHANGHAI Chint Power Systems, SolarEdge Technologies, and Yaskawa - Solectria Solar.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
    • Inverter technology overview
    • Global solar PV market: Overview
      • Table Integrated inverter with solar power plant
    • Global wind power market: Overview
      • Table Integrated inverter with wind power plant
  • Market landscape
    • Market overview
      • Table Global string inverters market
    • Market size and forecast
      • Table Global string inverters market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by end-user
    • Global string inverters market by end-user
      • Table Global string inverters market by end-user 2016 and 2021 (%)
      • Table Global string inverters market by end-user 2016-2021 ($ billions)
    • Global string inverters market by commercial enduser
      • Table Global string inverters market by commercial end-user segment 2016-2021 ($ billions)
    • Global string inverters market by residential enduser
      • Table Global string inverters market by residential end-user segment 2016-2021 ($ billions)
  • Market segmentation by phase
    • Global string inverters market by phase
      • Table Global string inverters market by phase 2016 and 2021 (%)
      • Table Global string inverters market by phase 2016-2021 ($ billions)
    • Global three-phase string inverters market
      • Table Global three-phase string inverters market 2016-2021 ($ billions)
    • Global single-phase string inverters market
      • Table Global single-phase string inverters market 2016-2021 ($ billions)
  • Geographical segmentation
    • Global string inverters market by geography
      • Table Global string inverters market by geography 2016 and 2021 (%)
      • Table Global string inverters market by geography 2016-2021 ($ billions)
    • String inverters market in APAC
      • Table String inverters market in APAC 2016-2021 ($ billions)
    • String inverters market in EMEA
      • Table String inverters market in EMEA 2016-2021 ($ billions)
    • String inverters market in Americas
      • Table String inverters market in Americas 2016-2021 ($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Countries with renewable targets and policies 2005
      • Table Countries with renewable targets and policies 2015
      • Table New wind installation targets 2015- 2020 (GW)
      • Table Global PV year-over-year growth 2001-2015
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
      • Table Power generation pattern by 1 kW solar module in a day
      • Table Intermittency and its impact on power systems
      • Table Crude oil prices 2011-2016 (% change)
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Reduction in solar PV cost
    • Rise in deployment of microgrids
    • Growing popularity of green buildings
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • ABB
      • Table ABB: Key products
      • Table ABB: Key news
    • Huawei Technologies
      • Table Huawei Technologies: Key products
      • Table Huawei Technologies: Key news
    • Schneider Electric
      • Table Schneider Electric: Key products
    • SMA Solar Technology
      • Table SMA Solar Technology: Business segmentation
      • Table SMA Solar Technology: Key products
      • Table SMA Solar Technology: Key news
    • SUNGROW
      • Table SUNGROW: Key products
      • Table SUNGROW: Key news
  • Appendix
    • List of abbreviations
  • Explore Technavio

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