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String Inverter Market

String Inverter Market: Global Industry Trend Analysis 2012 to 2017 and Forecast 2017 - 2025

String Inverter Market Segmented By phase such as Single-phase, Three-phase with type of system such as On-grid, Off-grid having Residential, Commercial and Industrial application

Global String Inverter Market: Introduction

Ongoing advancements in the field of alternative power generation to fulfill increasing power requirements worldwide have led to significant advancements in technology, and the market has witnessed the arrival of new advanced products catering to the ever increasing power requirements. String inverter is a device associated with solar photovoltaic power generation equipment.

A string inverter suffices conversion of electricity from Direct Current (DC) to Alternating Current (AC). String inverters are the key part of a solar panel system. One must decide the type of inverter to be used before installing a solar panel system, this decision is primarily dependent upon the type of application. Generally, there are three types of inverters used in a solar panel system for conversion of DC to AC; micro-inverters, string inverters and power optimizers.

String inverters are the common type of inverters deployed in solar panel systems across the globe. However, the decrease in cost of micro inverters could affect sales of string inverters. String inverters account for a significant share in the global inverters market and is expected to witness robust growth over the forecast period.

String inverters act as a cost effective solution for conversion of DC to AC, particularly in domestic applications. However, string inverters possess some technological limitations, which are overcome by other existing products in the market.

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Global String Inverter Market: Market Dynamics

Growth of string inverter market is driven directly in relation with the growth of solar panel systems installations worldwide. Steps taken by governments across the geographies to promote the use of alternative energy supplemented by attractive intensives and subsidies are expected to increase the number of installations of solar panels, which in turn will generate demand for string inverters.

Low cost of products and installations, when compared to available alternatives and ease of installation are some of the major factors fueling the demand for string inverters, thus driving the growth of the string inverter market.

Furthermore, string inverters when coupled with power optimizers can significantly improve the output power, thus enabling high performance. Moreover, string inverters possess the capability to be monitored remotely, which again act as a major parameter driving the adoption of string inverters.

Besides the advantages of cost effectiveness and ease of installation, string inverters exhibit some technological limitations, which in turn hamper the growth of the global string inverter market. String inverters cannot be used effectively where panels are installed facing different directions, as during the shading of solar panels, string inverter may reduce or even stop generating power. High loss of heat due to larger size is another challenge faced by the global string inverter market.

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Global String Inverter Market: Segmentation

On the basis of phase type
  • Single-phase
  • Three-phase
On the basis of type of system
  • On-grid
  • Off-grid
On the basis of application
  • Residential
  • Commercial
  • Industrial
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Global String Inverter Market: Region-wise outlook

Asia Pacific region is expected to experience high demand for string inverters over the forecast period. China, India and ASEAN are projected to be the major contributors to the growth of string inverters market in this region. China alone is expected to hold one third share of the total string inverters market in Asia Pacific.

North America and Europe are the mature markets for string inverters and are projected to witness healthy value growth over the forecast period. The U.S., U.K., Germany, France, Italy and Spain are estimated to be the key contributors for market growth.

Followed by Asia Pacific, North America and Europe, Latin America is projected to be the next big market for string inverters in terms of value. Various government policies to promote use of solar energy, reduce taxes and incentives will drive the growth of market in these regions. Middle East and Africa are expected to hold minimal share in global string inverter market over the forecast period.

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Global String Inverter Market: Market Participants

Examples of some of the market participants identified in the global string inverter market are:

  • ABB Limited
  • Huawei Technologies Co. Ltd.
  • SolarEdge Technologies
  • Schneider Electric Solar
  • SMA Solar Technology AG
  • Sungrow Power Supply Co., Ltd.
  • Delta Energy System GmbH
  • Solarmax Group
  • Shenzhen SORO Electronics
  • HyECO Power Tech
  • Chint Power Systems
  • Fronius International GmbH
  • KACO New Energy GmbH
  • Samil Power Co., Ltd.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K., Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

- Companies Covered in This Report -

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