Market Overview:
String solar inverters are a type of solar inverter that is used to convert direct current (DC) into alternating current (AC). String solar inverters are also known as microinverters. They are typically installed in series with multiple solar panels, and each panel is connected to its own string inverter. This allows each panel to operate independently, which can improve the performance and reliability of the system. The global string solar inverter market is expected to grow at a CAGR of 10.5% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for renewable energy sources worldwide and the growing popularity of rooftop photovoltaic systems.
Product Definition:
A string solar inverter is a device that converts direct current (DC) into alternating current (AC). It's used to connect multiple solar panels into one system. This type of inverter is important because it allows for more efficiency and can handle a larger load.
Power Frequency Inverter:
A power frequency inverter is a device that changes the direct current (DC) to alternate current and back to DC again. The power frequency inverter has different speeds which are denoted as “power”, “frequency” and “duty cycle”. Power Frequency Inverters (PFI) have higher efficiency levels than conventional systems; however, they also have some disadvantages such as high cost of installation and limited output voltage range.
Medium Frequency Inverter:
A medium frequency inverter is a type of electronic device that generates an alternating current of between 50 to 200 hertz. The main function of these devices is to convert the DC electricity produced from solar panels into AC electricity. These are mainly used in string solar inverters, which are further used for power generation purposes.
Medium frequency (MFI) inverters have higher efficiency as compared to high-frequency (HFI).
Application Insights:
Utility was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. String inverters are used for power generation in utility applications as they help smoothen out any sudden fluctuations in supply from renewable sources, such as wind and solar.
String inverter finds wide application scope across residential, commercial and utility sectors owing to their ability to generate stable power supply with reduced environmental impact. The growing need for electricity across various end-use industries including healthcare, hospitality, retail etc., is anticipated to drive demand over the forecast period.
The string inverter market has witnessed significant growth due largely to supportive government regulations that have resulted in a substantial increase of installed capacity of solar PV modules across commercial buildings & utilities worldwide.
Regional Analysis:
Asia Pacific regional market accounted for the largest share of over 45% in 2017. The region is expected to maintain its lead throughout the forecast period owing to increasing investments in renewable energy infrastructure and growing awareness among end-users regarding the benefits of solar inverters. In addition, favorable government policies promoting clean energy generation are anticipated to drive demand over the next eight years.
The European regional market also held a significant share in 2017 owing to high penetration rates of solar panels across countries such as Germany, Italy, Spain and France. Moreover, rising environmental concerns have resulted in an increased focus on sustainable power generation methods across Europe; hence boosting demand for solar inverters over the forecast period.
North America is projected to witness steady growth from 2018 to 2030 due bothto increaseinR&D expenditure by major players as well as increasing adoption ratesof string inverters by commercial sector users suchas hotelsand restaurantsfor HVAC applications including air conditioning and refrigeration systems respectively).
Growth Factors:
- String Solar Inverter market is driven by the increasing demand for solar energy across the globe.
- String Solar Inverter market is driven by the rising awareness about the benefits of solar energy among consumers.
- String Solar Inverter market is driven by government initiatives and subsidies to promote solar energy uptake among consumers.
- String Solar Inverter market is driven by technological advancements that have made solar energy more affordable and efficient than ever before.
Scope Of The Report
Report Attributes
Report Details
Report Title
String Solar Inverter Market Research Report
By Type
Power Frequency Inverter, Medium Frequency Inverter, High Frequency Inverter
By Application
Residential, Commercial, Utility
By Companies
ABB, SMA Solar Technology, Canadian Solar, SolarEdge Technologies, SunPower, Delta Electronics, Solectria Renewables, Sineng Electric, Hitachi Hi-Rel Power Electronics, ABB, `
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
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global String Solar Inverter Market Report Segments:
The global String Solar Inverter market is segmented on the basis of:
Types
Power Frequency Inverter, Medium Frequency Inverter, High Frequency 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, Utility
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:
- ABB
- SMA Solar Technology
- Canadian Solar
- SolarEdge Technologies
- SunPower
- Delta Electronics
- Solectria Renewables
- Sineng Electric
- Hitachi Hi-Rel Power Electronics
- ABB
- `
Highlights of The String Solar 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:
- Power Frequency Inverter
- Medium Frequency Inverter
- High Frequency Inverter
- By Application:
- Residential
- Commercial
- Utility
- 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 Solar 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 solar inverter is a type of solar energy converter that uses strings to convert sunlight into electricity. This type of converter is typically smaller and more efficient than other types, making it a good choice for applications where space is limited or where high efficiency is desired.
Some of the major players in the string solar inverter market are ABB, SMA Solar Technology, Canadian Solar, SolarEdge Technologies, SunPower, Delta Electronics, Solectria Renewables, Sineng Electric, Hitachi Hi-Rel Power Electronics, ABB, `.
The string solar inverter market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 String Solar 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 Solar Inverter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 String Solar 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 Solar 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 Solar Inverter Market Size & Forecast, 2020-2028
4.5.1 String Solar Inverter Market Size and Y-o-Y Growth
4.5.2 String Solar 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 Power Frequency Inverter
5.2.2 Medium Frequency Inverter
5.2.3 High Frequency 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
6.2.3 Utility
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global String Solar 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 Solar 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 Power Frequency Inverter
9.6.2 Medium Frequency Inverter
9.6.3 High Frequency 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
9.10.3 Utility
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 Power Frequency Inverter
10.6.2 Medium Frequency Inverter
10.6.3 High Frequency 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
10.10.3 Utility
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 Power Frequency Inverter
11.6.2 Medium Frequency Inverter
11.6.3 High Frequency 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
11.10.3 Utility
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 Power Frequency Inverter
12.6.2 Medium Frequency Inverter
12.6.3 High Frequency 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
12.10.3 Utility
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 Power Frequency Inverter
13.6.2 Medium Frequency Inverter
13.6.3 High Frequency 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
13.10.3 Utility
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 Solar Inverter Market: Competitive Dashboard
14.2 Global String Solar Inverter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 SMA Solar Technology
14.3.3 Canadian Solar
14.3.4 SolarEdge Technologies
14.3.5 SunPower
14.3.6 Delta Electronics
14.3.7 Solectria Renewables
14.3.8 Sineng Electric
14.3.9 Hitachi Hi-Rel Power Electronics
14.3.10 ABB
14.3.11 `
