The global market for String Inverter is majorly driven by factors such as reduce energy wastage, efficiency and among others.
The global market of String Inverter around the world is growing rapidly due to factors such as ease of maintenance, Trusted Technology as well as Lower costs are booming the market of string market.
One of the latest evolutions in the inverter industry is three-phase string inverters for the small-to-medium commercial PV market. Now, several manufacturers are offering string inverters with three-phase output, which offers several benefits such as Lower price as well as required less wall space and reduced installation time. Moreover, High Fuel Efficiency, High Quality Electrical Output are some factors spur the market. Geographically, Asia Pacific string inverter market share witness considerable growth on account of increasing clean fuel electricity demand. Moreover, Government has introduced several initiatives including Jawaharlal Nehru National solar mission to encourage solar system adoption. As well as in the U.S., includes Renewable Energy Production Incentives introduced to encourage the adoption of renewable energy technologies which driving the market
Prominent Players in the String Inverter includes
- Huawei Technologies
- Sungrow Power Supply
- Fronius International
- KOSTAL Solar Electric
- Growatt New Energy Technology
- Ginlong Technologies
- Advanced Energy Industries
- KACO New Energy
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Market Research Future Analysis:
Market Research Future analysis show that the global market of String Inverter market is estimated to grow at US $XX billion by the end of year 2022.Geographically, Asia Pacific dominates the global string inverter market with utilities segment. Utility-scale large projects are improving given regulations for renewable integration and accelerate growth of the string inverter market. Moreover, government also helps by providing policy support such as tax incentives, as well as incentives such as feed-in tariffs and tenders. It is estimated to rise in demand due to growth in demand for inverter. The global String Inverter is expected to grow at CAGR of XX% between years 2016 to 2022.
The report has analyzed the market based on the four segments: product, phase, application, and end use in the regions of North America, Europe, APAC and rest of the world. On the basis of product, it includes On-grid, off-grid. On-grid segment is expected to hold the largest share of the string inverter market due to the market of three-phase string inverters, which are being commercialized at a huge scale in Asia-Pacific and Europe. On the basis of phase, it includes Single, Three. It is referred as largest market owing to rising installations of large utility-scale solar systems in Japan, China, and other European countries. Moreover, On the basis of application, it includes Residential, Commercial, Industrial, utilities. The utilities segment is expected to hold the largest share. Utility-scale large projects are improving for renewable integration and accelerating the growth of the string inverter market for the utility segment. String inverter in utility-based solar systems, integrated with energy storage systems expected to grab the market Whereas Asia pacific region expected to grow the String Inverter market. The scope of the market has widened over many years owing to the flourishing markets of Asia pacific.
- Research Institute / Education Institute
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