Global String Inverter Market, By Phase (Single and Three), By System Type (On-Grid and Off-Grid), By Power Rating (Up to 10kW, 11kW–40kW, 41kW–80kW, and Above 80kW), By End-User (Residential, Commercial & Industrial, and Utilities), By Region, Competition Forecast & Opportunities, 2027
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:
- To analyze historical growth in market size of global string inverter market from 2017 to 2021.
- To estimate and forecast the market size of glo global string inverter market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast global string inverter market based on phase, system type, power rating, end-user, regional distribution, and company.
- To identify dominant region or segment in the global string inverter market.
- To identify drivers and challenges for global string inverter market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global string inverter market.
- To identify and analyze the profile of leading players operating in global string inverter market.
- To identify key sustainable strategies adopted by market players in global string inverter market.
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:
- String inverter market manufacturing companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to string inverter
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.
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:
- String Inverter Market, By Phase:
- String Inverter Market, By System Type:
- String Inverter Market, By Power Rating:
- Up to 10kW
- Above 80kW
- String Inverter Market, By End-User:
- Commercial & Industrial
- String Inverter Market, By Region:
- North America
- United States
- United Kingdom
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- South America
Company Profiles: Detailed analysis of the major companies present in global string inverter market.
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:
- Detailed analysis and profiling of additional market players (up to five).
Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without