• Blog
  • String Inverter Market Report

    String Inverter Market Report

    String Inverter Market Report
    Report code - SRCE311 Delivery - 2 Weeks
    Get Free Sample |
    Play Audio
    Listen
    String Inverter Market Size, Share, Trend, Forecast, & Industry Analysis – 2021- See more...

    Impact of COVID-19 on String Inverter Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on String Inverter Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    String Inverter Market is likely to witness a healthy CAGR of 4% during the forecast period. Multiple government initiatives to accelerate the adoption of sustainable energy, decreasing component prices due to favorable tax benefit considerations, upgradation of primitive technologies paired with volume manufacturing practices leading to significant reduction in the overall component prices are some of the major factors driving the market growth during the forecast period.

    String Inverter Market - Snapshot

    Growth

    4% for the next five years

    Major Power Class Type

    Single Phase

    Leading Connectivity Type

    Stand-alone

    Major Application Type

    Residential

    Region with the highest demand

    North America

    Key Players

    Elettronica Santerno, Fronius International GmbH, Ginlong Technologies, GoodWe, REFU, SatCon Technology Corporation, Schneider Electric, SMA Solar Technology AG, Sungrow Power Supply Co., Ltd, TBEA Co., Ltd.

    Segment Analysis

    String-Inverter-Market-Dominant-Segments

    Wish to get a free sample? Register Here

    String Inverter Market Share: By Power Class Type

    Based on the power class type, the market is segmented as single phase and three phase. Single phase string inverters are projected to witness strong growth rate in the market owing to their effective operational feasibility, due to which they are gaining traction in residential and small commercial establishments. In addition, some positive regulatory prospects such as feed-in tariff schemes are expected to drive the product demand during the forecast period. On the other hand, three phase string inverters are expected to benefit from factors such as low cost, absence of inverter subpanel and compact size over the forecast period. Three phase string inverter type is further categorized as Low Power ≤99 kW and High Power >99 kW.

    String Inverter Market Share: By Nominal Output Power Type

    Based on the nominal output power type, the market is segmented as ≤500 W, 500-1500W, and >1500 W. The ≤500W nominal output power type segment is expected to lead the market during the forecast period. The growth of the segment is bolstered by its significant progress across small scale photovoltaic applications. Further, increasing focus of manufacturers towards enhancement of the efficiency level and operational flexibility is likely to boost the product demand during the forecast period.

    String Inverter Market Share: By Nominal Output Voltage Type

    Based on the nominal output voltage type, the market is segmented as ≤230 V, 230-400 V, and >400 V. The ≤230V nominal output voltage type segment is estimated to register significant growth during the forecast period. The growth can be attributed to the increasing demand from community-based off grid projects. On the other hand, the demand for >400V inverters is likely to be positively influenced by large-scale adoption across commercial establishments coupled with growing investments across utility-aided solar projects.

    String Inverter Market Share: By Connectivity Type

    Based on the connectivity type, the market is segmented as stand-alone and on-grid. The stand-alone string inverter market is expected to be driven by the surge in adoption of decentralized power generation systems majorly in rural locations coupled with growing installation of micro-grid systems. On the other hand, the on-grid string inverter market is expected to be influenced by regulatory measures toward the deployment of large utility scale systems and government focus to replace existing conventional power generating stations with high-capacity clean energy systems likely to fuel the product demand during the forecast period.

    String Inverter Market Share: By Application Type

    Based on the application type, the market is segmented as residential, commercial, industrial and utility. Residential string inverters are expected to witness the highest growth during the forecast period, owing to factors such as decreasing component prices and progress in distributed generation technology. The market growth of industrial string inverter to be propelled by ongoing measures to reduce carbon footprints paired with rising demand for clean and reliable power.

    String Inverter Market Share: By Region

    In terms of regions, North America is estimated to be the leading region in the market for string inverters during the forecast period. The region’s growth is driven by the growth in the U.S. market along with the federal norms to achieve clean economy structure by reducing the impact of harmful emission and increasing the focus towards energy conservation. On the other hand, the Asia-Pacific market is likely to be positively influenced over the forecast period with China and India being the growth engines offering promising growth opportunities. Europe is also expected to offer substantial growth opportunities during the forecast period.

    String-Inverter-Market-By-Region

    Know which region offers best growth opportunities. Register Here

    Market Scope & Segmentation

    String inverters are special types of inverters that are used to convert direct current into alternating current. They are deployed for various applications in commercial and industrial sectors.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    String Inverter Market Research Report - Features

    Market Segmentation

    6

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The string inverter market is segmented into the following categories.

    String Inverter Market Size, Share, & Forecast, by Power Class Type:

    • Single Phase (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Three Phase
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Type Analysis: Low Power ≤99 kW and High Power >99 kW

    String Inverter Market Size, Share, & Forecast, by Nominal Output Power Type:

    • ≤500 W (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 500-1500W (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • >1500 W (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    String Inverter Market Size, Share, & Forecast, by Nominal Output Voltage Type:

    • ≤230 V (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 230-400 V (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • >400 V (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    String Inverter Market Size, Share, & Forecast, by Connectivity Type:

    • Stand-alone (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • On-grid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    String Inverter Market Size, Share, & Forecast, by Application Type:

    • Residential (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Commercial
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Type Analysis: College/University, Office, and Government/Military
    • Industrial
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Type Analysis: Chemical, Paper, and Food Processing
    • Utility (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    String Inverter Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Key Players

    Some of the key players in the string inverter market are-

    • Elettronica Santerno
    • Fronius International GmbH
    • Ginlong Technologies
    • GoodWe
    • REFU
    • SatCon Technology Corporation
    • Schneider Electric
    • SMA Solar Technology AG
    • Sungrow Power Supply Co., Ltd
    • TBEA Co., Ltd.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation by any one of the power class types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The string inverter market is expected to witness an impressive growth of 4.0% CAGR in the foreseeable future.

    Elettronica Santerno, Fronius International GmbH, Ginlong Technologies, GoodWe, REFU, SatCon Technology Corporation, Schneider Electric, SMA Solar Technology AG, Sungrow Power Supply Co., Ltd, TBEA Co., Ltd. Are among the key players in the string inverter market.

    North America is expected to be the leading string inverter market during the forecast period.

    Residential string inverters are expected to witness the highest growth in the string inverter market in the coming years.

    Single phase string inverters are expected to witness strong growth rate in the string inverter market during the forecast period.

    Multiple government initiatives to accelerate the adoption of sustainable energy, decreasing component prices due to favorable tax benefit considerations, upgradation of primitive technologies paired with volume manufacturing practices leading to significant reduction in the overall component prices are the factors driving the growth of string inverter market.

    •