Market Overview:
String inverters are a type of solar inverter that convert direct current (DC) into alternating current (AC). They are also known as “central string” or “master string” inverters. String inverters connect to multiple solar panels, usually in series, to form one large electrical system. Inverter output is limited by the weakest panel in the array.
Product Definition:
String inverters are devices that convert direct current (DC) into alternating current (AC). This is important because most household appliances run on AC power. String inverters connect multiple solar panels into one unit, and then converts the DC output of the panels into usable AC power.
On-Grid String Inverter:
On-grid string inverter is a power electronic device used in electric grids for changing the direction of current flow. It’s an off-the-grid technology that uses solar energy to produce electricity. These devices are mainly installed at homes and small commercial places like offices, schools, hospitals etc., as they are cost effective and can be operated with basic equipment like laptops, cell phones etc.
Off-Grid String Inverter:
An off-grid string inverter is a power system which consists of multiple sub-systems including battery bank, control systems and an engine. It helps in smooth operation of the entire system by regulating the flow of current from battery to appliances. These systems are mostly used in areas having access to grid but not all the time because they are self-powering and can function without any external support.
Application Insights:
String inverters find application in various sectors such as commercial and industrial, residential, utilities, and others. The utility sector accounted for the largest market share of over 50% in 2017 owing to the growing demand from renewable energy sources such as wind and solar. String inverters are used to convert the direct current (DC) generated by these sources into alternating current (AC).
The commercial & industrial segment is expected to witness a CAGR of XX% from 2018 to 2030 on account of rising demand for string inverter driven UPS systems across data centers, corporate offices, hospitalsities etc. String inverter driven UPS systems eliminate power failure risks while increasing system reliability by providing continuous power supply during brownouts or blackouts.
Regional Analysis:
Asia Pacific regional market dominated the global string inverter market in 2016 and is expected to continue its dominance over the forecast period. The region’s growth can be attributed to increasing investments in renewable energy infrastructure, growing industrialization, and rising demand for clean energy sources. China accounted for a major share of Asia Pacific regional market owing to large-scale investments made by the Chinese government in order to reduce pollution levels and enhance grid stability.
North America is projected to grow at a significant rate over the forecast period owing to increased focus on developing clean energy sources as an alternative source of electricity generation. String inverters are used across various industries such as oil & gas, manufacturing, food & beverage processing that require continuous power supply during peak hours along with stable power supply throughout day long hours.
Growth Factors:
- String inverters are becoming more efficient and affordable as technology improves. This is making them a more popular choice for homeowners and businesses alike.
- Governments are increasingly offering incentives for using solar energy, which is helping to drive demand for string inverters.
- As the cost of traditional energy sources continues to rise, more people are looking into solar power as a way to save money in the long run. This is benefiting the string inverter market significantly.
- String inverters offer several advantages over other types of solar energy systems, such as microinverters and central inverters, making them a more attractive option for many consumers.
Scope Of The Report
Report Attributes
Report Details
Report Title
String Inverter Market Research Report
By Type
On-Grid String Inverter, Off-Grid String Inverter
By Application
Residential, Commercial & Industrial, Utilities
By Companies
SMA Solar Technology, Solaredge Technologies, Schneider Electric Solar, ABB, Sungrow Power Supply, Fronius, Solarmax, Yaskawa-Solectria Solar, Ginlong Technologies, Delta Energy System, SMA Solar Technology, KACO New Energy, Chint Power Systems, Huawei Technologies, Growatt New Energy Technology
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
207
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global String Inverter Market Report Segments:
The global String Inverter market is segmented on the basis of:
Types
On-Grid String Inverter, Off-Grid String Inverter
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial & Industrial, Utilities
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- SMA Solar Technology
- Solaredge Technologies
- Schneider Electric Solar
- ABB
- Sungrow Power Supply
- Fronius
- Solarmax
- Yaskawa-Solectria Solar
- Ginlong Technologies
- Delta Energy System
- SMA Solar Technology
- KACO New Energy
- Chint Power Systems
- Huawei Technologies
- Growatt New Energy Technology
Highlights of The String Inverter Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- On-Grid String Inverter
- Off-Grid String Inverter
- By Application:
- Residential
- Commercial & Industrial
- Utilities
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the String Inverter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A string inverter is a circuit that inverts the direction of an electric current.
Some of the major players in the string inverter market are SMA Solar Technology, Solaredge Technologies, Schneider Electric Solar, ABB, Sungrow Power Supply, Fronius, Solarmax, Yaskawa-Solectria Solar, Ginlong Technologies, Delta Energy System, SMA Solar Technology, KACO New Energy, Chint Power Systems, Huawei Technologies, Growatt New Energy Technology.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 String Inverter Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 String Inverter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 String Inverter Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the String Inverter Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global String Inverter Market Size & Forecast, 2020-2028
4.5.1 String Inverter Market Size and Y-o-Y Growth
4.5.2 String Inverter Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 On-Grid String Inverter
5.2.2 Off-Grid String Inverter
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial & Industrial
6.2.3 Utilities
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global String Inverter Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 String Inverter Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 On-Grid String Inverter
9.6.2 Off-Grid String Inverter
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial & Industrial
9.10.3 Utilities
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 On-Grid String Inverter
10.6.2 Off-Grid String Inverter
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial & Industrial
10.10.3 Utilities
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 On-Grid String Inverter
11.6.2 Off-Grid String Inverter
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial & Industrial
11.10.3 Utilities
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 On-Grid String Inverter
12.6.2 Off-Grid String Inverter
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial & Industrial
12.10.3 Utilities
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 On-Grid String Inverter
13.6.2 Off-Grid String Inverter
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial & Industrial
13.10.3 Utilities
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 String Inverter Market: Competitive Dashboard
14.2 Global String Inverter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SMA Solar Technology
14.3.2 Solaredge Technologies
14.3.3 Schneider Electric Solar
14.3.4 ABB
14.3.5 Sungrow Power Supply
14.3.6 Fronius
14.3.7 Solarmax
14.3.8 Yaskawa-Solectria Solar
14.3.9 Ginlong Technologies
14.3.10 Delta Energy System
14.3.11 SMA Solar Technology
14.3.12 KACO New Energy
14.3.13 Chint Power Systems
14.3.14 Huawei Technologies
14.3.15 Growatt New Energy Technology
