Global String Inverter Market Analysis 2020
The Global String Inverter market is expected to reach $6.62 billion by 2026 growing at a CAGR of 9.5% during 2019 to 2026. A string inverter is by far the most frequently deployed choice and includes the vast preponderance of the world’s inverter market. On the other side, MLPE technologies are quickly gaining recognition and market share as their price has come down in spite of the global supremacy of string inverters. The solar panels are prearranged into groups associated with “strings.” Every string of panels is linked to a sole inverter, which changes the DC electricity formed by the panels into equipment friendly AC electricity. String inverters have the benefit of being a short-term cheaper solution due to the lower equipment need compared to micro inverters. One string inverter can handle the energy produced from a row of 5-10 panels.
Factors such as easy installation & customization, remote system monitoring capabilities, and decreased balance of system cost are driving the market growth. However, no panel level monitoring and higher heat loss due to large size are restraining the market. Government incentive schemes are creating opportunities for the market.
Based on connectivity, the on-grid segment is anticipated to grow at the significant rate during the forecast period owing to the increase in investment for direct supply of electricity rather than storing it in batteries. In addition, increase in electricity demand from the emerging economies fuels the demand for on-string application of string inverter in solar applications.
The key vendors mentioned are SMA Solar Technology AG, Solaredge Technologies, Inc, Schneider Electric Solar, ABB Limited, Sungrow Power Supply Co., Ltd, Fronius International GmbH, Solarmax Group, Yaskawa – Solectria Solar, Ginlong Technologies, Delta Energy System GmbH, Samil Power Co., Ltd, KACO New Energy GmbH, Chint Power Systems Co., Ltd, Huawei Technologies Co. Ltd, and Growatt New Energy Technology Co., Ltd.
Phases Covered:
• Single-Phase
• Three-Phase
Connectivity’s Covered:
• Stand-Alone
• On-Grid
Power Ratings Covered:
• Upto 10 kW
• 11 kW–40 kW
• 41 kW–80 kW
• Above 80 kW
Sale Channels Covered:
• Manufacturer/Distributor/Service Provider
• Aftermarket
Nominal Output Powers Covered:
• ≤500 W
• 500-1500W
• > 1500 W
Nominal Output Voltages Covered:
• ≤230 V
• 230-400 V
• > 400 V
Applications Covered:
• Residential
• Commercial
• Industrial
• Utility
Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Key Questions Answered in this Report:
• How this market evolved since the year 2018
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analyzed during the forecast period
- 1 Market Synopsis
- 2 Research Outline
- 2.1 Research Snapshot
- 2.2 Research Methodology
- 2.3 Research Sources
- 2.3.1 Primary Research Sources
- 2.3.2 Secondary Research Sources
- 3 Market Dynamics
- 3.1 Drivers
- 3.2 Restraints
- 4 Market Environment
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global String Inverter Market, By Phase
- 5.1 Introduction
- 5.2 Single-Phase
- 5.3 Three-Phase
- 6 Global String Inverter Market, By Connectivity
- 6.1 Introduction
- 6.2 Stand-Alone
- 6.3 On-Grid
- 7 Global String Inverter Market, By Power Rating
- 7.1 Introduction
- 7.2 Upto 10 kW
- 7.3 11 kW–40 kW
- 7.4 41 kW–80 kW
- 7.5 Above 80 kW
- 8 Global String Inverter Market, By Sales Channel
- 8.1 Introduction
- 8.2 Manufacturer/Distributor/Service Provider
- 8.3 Aftermarket
- 9 Global String Inverter Market, By Nominal Output Power
- 9.1 Introduction
- 9.2 ≤500 W
- 9.3 500-1500W
- 9.4 > 1500 W
- 10 Global String Inverter Market, By Nominal Output Voltage
- 10.1 Introduction
- 10.2 ≤230 V
- 10.3 230-400 V
- 10.4 > 400 V
- 11 Global String Inverter Market, By Application
- 11.1 Introduction
- 11.2 Residential
- 11.3 Commercial
- 11.4 Industrial
- 11.5 Utility
- 12 Global String Inverter Market, By Geography
- 12.1 Introduction
- 12.2 North America
- 12.3 Europe
- 12.4 Asia Pacific
- 12.5 South America
- 12.6 Middle East & Africa
- 13 Strategic Benchmarking
- 14 Vendors Landscape
- 14.1 SMA Solar Technology AG
- 14.2 Solaredge Technologies, Inc
- 14.3 Schneider Electric Solar
- 14.4 ABB Limited
- 14.5 Sungrow Power Supply Co., Ltd
- 14.6 Fronius International GmbH
- 14.7 Solarmax Group
- 14.8 Yaskawa – Solectria Solar
- 14.9 Ginlong Technologies
- 14.10 Delta Energy System GmbH
- 14.11 Samil Power Co., Ltd
- 14.12 KACO New Energy GmbH
- 14.13 Chint Power Systems Co., Ltd
- 14.14 Huawei Technologies Co. Ltd
- 14.15 Growatt New Energy Technology Co., Ltd
- List of Data Tables
- Table 1 Global String Inverter Market Outlook, By Region (2018-2026) ($MN)
- Table 2 Global String Inverter Market Outlook, By Phase (2018-2026) ($MN)
- Table 3 Global String Inverter Market Outlook, By Single-Phase (2018-2026) ($MN)
- Table 4 Global String Inverter Market Outlook, By Three-Phase (2018-2026) ($MN)
- Table 5 Global String Inverter Market Outlook, By Connectivity (2018-2026) ($MN)
- Table 6 Global String Inverter Market Outlook, By Stand-Alone (2018-2026) ($MN)
- Table 7 Global String Inverter Market Outlook, By On-Grid (2018-2026) ($MN)
- Table 8 Global String Inverter Market Outlook, By Power Rating (2018-2026) ($MN)
- Table 9 Global String Inverter Market Outlook, By Upto 10 kW (2018-2026) ($MN)
- Table 10 Global String Inverter Market Outlook, By 11 kW–40 kW (2018-2026) ($MN)
- Table 11 Global String Inverter Market Outlook, By 41 kW–80 kW (2018-2026) ($MN)
- Table 12 Global String Inverter Market Outlook, By Above 80 kW (2018-2026) ($MN)
- Table 13 Global String Inverter Market Outlook, By Sales Channel (2018-2026) ($MN)
- Table 14 Global String Inverter Market Outlook, By Manufacturer/Distributor/Service Provider (2018-2026) ($MN)
- Table 15 Global String Inverter Market Outlook, By Aftermarket (2018-2026) ($MN)
- Table 16 Global String Inverter Market Outlook, By Nominal Output Power (2018-2026) ($MN)
- Table 17 Global String Inverter Market Outlook, By ≤500 W (2018-2026) ($MN)
- Table 18 Global String Inverter Market Outlook, By 500-1500W (2018-2026) ($MN)
- Table 19 Global String Inverter Market Outlook, By > 1500 W (2018-2026) ($MN)
- Table 20 Global String Inverter Market Outlook, By Nominal Output Voltage (2018-2026) ($MN)
- Table 21 Global String Inverter Market Outlook, By ≤230 V (2018-2026) ($MN)
- Table 22 Global String Inverter Market Outlook, By 230-400 V (2018-2026) ($MN)
- Table 23 Global String Inverter Market Outlook, By > 400 V (2018-2026) ($MN)
- Table 24 Global String Inverter Market Outlook, By Application (2018-2026) ($MN)
- Table 25 Global String Inverter Market Outlook, By Residential (2018-2026) ($MN)
- Table 26 Global String Inverter Market Outlook, By Commercial (2018-2026) ($MN)
- Table 27 Global String Inverter Market Outlook, By Industrial (2018-2026) ($MN)
- Table 28 Global String Inverter Market Outlook, By Utility (2018-2026) ($MN)
- Table 29 North America String Inverter Market Outlook, By Phase (2018-2026) ($MN)
- Table 30 North America String Inverter Market Outlook, By Connectivity (2018-2026) ($MN)
- Table 31 North America String Inverter Market Outlook, By Power Rating (2018-2026) ($MN)
- Table 32 North America String Inverter Market Outlook, By Sales Channel (2018-2026) ($MN)
- Table 33 North America String Inverter Market Outlook, By Nominal Output Power (2018-2026) ($MN)
- Table 34 North America String Inverter Market Outlook, By Nominal Output Voltage (2018-2026) ($MN)
- Table 35 North America String Inverter Market Outlook, By Application (2018-2026) ($MN)
- Table 36 Europe String Inverter Market Outlook, By Phase (2018-2026) ($MN)
- Table 37 Europe String Inverter Market Outlook, By Connectivity (2018-2026) ($MN)
- Table 38 Europe String Inverter Market Outlook, By Power Rating (2018-2026) ($MN)
- Table 39 Europe String Inverter Market Outlook, By Sales Channel (2018-2026) ($MN)
- Table 40 Europe String Inverter Market Outlook, By Nominal Output Power (2018-2026) ($MN)
- Table 41 Europe String Inverter Market Outlook, By Nominal Output Voltage (2018-2026) ($MN)
- Table 42 Europe String Inverter Market Outlook, By Application (2018-2026) ($MN)
- Table 43 Asia Pacific String Inverter Market Outlook, By Phase (2018-2026) ($MN)
- Table 44 Asia Pacific String Inverter Market Outlook, By Connectivity (2018-2026) ($MN)
- Table 45 Asia Pacific String Inverter Market Outlook, By Power Rating (2018-2026) ($MN)
- Table 46 Asia Pacific String Inverter Market Outlook, By Sales Channel (2018-2026) ($MN)
- Table 47 Asia Pacific String Inverter Market Outlook, By Nominal Output Power (2018-2026) ($MN)
- Table 48 Asia Pacific String Inverter Market Outlook, By Nominal Output Voltage (2018-2026) ($MN)
- Table 49 Asia Pacific String Inverter Market Outlook, By Application (2018-2026) ($MN)
- Table 50 South America String Inverter Market Outlook, By Phase (2018-2026) ($MN)
- Table 51 South America String Inverter Market Outlook, By Connectivity (2018-2026) ($MN)
- Table 52 South America String Inverter Market Outlook, By Power Rating (2018-2026) ($MN)
- Table 53 South America String Inverter Market Outlook, By Sales Channel (2018-2026) ($MN)
- Table 54 South America String Inverter Market Outlook, By Nominal Output Power (2018-2026) ($MN)
- Table 55 South America String Inverter Market Outlook, By Nominal Output Voltage (2018-2026) ($MN)
- Table 56 South America String Inverter Market Outlook, By Application (2018-2026) ($MN)
- Table 57 Middle East & Africa String Inverter Market Outlook, By Phase (2018-2026) ($MN)
- Table 58 Middle East & Africa String Inverter Market Outlook, By Connectivity (2018-2026) ($MN)
- Table 59 Middle East & Africa String Inverter Market Outlook, By Power Rating (2018-2026) ($MN)
- Table 60 Middle East & Africa String Inverter Market Outlook, By Sales Channel (2018-2026) ($MN)
- Table 61 Middle East & Africa String Inverter Market Outlook, By Nominal Output Power (2018-2026) ($MN)
- Table 62 Middle East & Africa String Inverter Market Outlook, By Nominal Output Voltage (2018-2026) ($MN)
- Table 63 Middle East & Africa String Inverter Market Outlook, By Application (2018-2026) ($MN)
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook