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Global String Inverter Market (2021-2026) by Phase, System Type, End-User, Power, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

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    Report

  • 178 Pages
  • April 2021
  • Region: Global
  • Infogence Global Research
  • ID: 5392888
The Global String Inverter Market is estimated to be USD 3.7 Bn in 2021 and is expected to reach USD 5.24 Bn by 2026, growing at a CAGR of 7.2%.



Market Dynamics

The increasing application of sustainable energy in the residential, commercial, and industrial sector is the major factor driving the global string inverter market. In addition, string inverter is easy to install, economical, has remote system monitoring capabilities, and is lightweight, increasing the adoption globally. The increasing government initiatives in providing electricity in remote areas are expected to propel the market demand. Furthermore, demand for reduction of electricity bill and lower fuel emission is fuelling the market growth. However, high heat loss in large-size string inverter and absence of panel-level monitoring is anticipated to hinder the market revenue.

The key players adopt numerous strategies such as product launch and geographical expansion to increase their market revenue during the forecast period.

Market Segmentation

The Global String Inverter Market is segmented further based on Phase, System Type, End-User, Power, and Geography.

By Phase, the market is classified into single-phase and three-phase. Amongst the two, the single-phase segment is estimated to hold the highest market share during the forecast period.

By System Type, the market is classified as on-grid, and off-grid. Amongst the two, the on-grid segment is estimated to hold the highest market share during the forecast period.

By End User, the market is classified as rooms, emergency care departments, surgical residential, commercial & industrial, utilities. Amongst all, the commercial & industrial segment is estimated to hold the highest market share during the forecast period.

By Power, the market is classified as upto 10 kW, 11 kW-40 kW, 41 kW-80 kW, and above 80 kW. Amongst all, the 41 kW-80 kW segment is estimated to hold the highest market share during the forecast period.

By Geography, North America is projected to lead the market.

Recent Developments

1. Sungrow launched a 325 kW string inverter. The device features 1500 V (DC) technology and an ambient operating temperature ranging from -30 C to 60 C. - 19th March 2021.
2. GoodWe launches 1500 V string inverter series for applications in utility-scale PV projects. - 7th January 2021

Company Profiles

Some of the companies covered in this report SolarMax Technology Inc, Huawei Technologies Co., Ltd., Sungrow Power Supply Co., Ltd, Fronius International GmbH, KOSTAL Solar Electric, Growatt New Energy Technology Co., Ltd, Schneider Electric SE, etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?
  • The report offers a comprehensive evaluation of the Global String Inverter Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains a competitive analysis using the Positioning Quadrants, the analyst’s Proprietary competitive positioning tool.

Report Highlights:
  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Global String Inverter Market

What is the estimated value of the Global String Inverter Market?

The Global String Inverter Market was estimated to be valued at $3700 Million in 2021.

What is the growth rate of the Global String Inverter Market?

The growth rate of the Global String Inverter Market is 7.2%, with an estimated value of $5240 Million by 2026.

What is the forecasted size of the Global String Inverter Market?

The Global String Inverter Market is estimated to be worth $5240 Million by 2026.

Who are the key companies in the Global String Inverter Market?

Key companies in the Global String Inverter Market include SolarMax Technology Inc, ABB Limited, Advanced Energy Industries, Inc, Chint Power Systems Co., Ltd., Delta Energy Systems GmbH, Fronius International GmbH, Ginlong Technologies Co., Ltd., Growatt New Energy Technology Co Ltd. and HyECO Power Tech Co., Ltd..

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1 Drivers
4.1.1 Increasing Adoption of Solar Energy
4.1.2 Rising Demand of Electricity in Rural and Remote Areas
4.1.3 Easy Installation & Customization
4.2 Restraints
4.2.1 No Panel Level Monitoring and Efficency Issues
4.2.2 High Heat Loss in the Large-Sized String Inverter
4.3 Opportunities
4.3.1 R&D For New Innovations by Major Players
4.3.2 Favourable Government Incentive Schemes
4.4 Challenges
4.4.1 Safety Hazards Associated with High Voltage
4.5 Trends
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter’s Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global String Inverter Market, By Phase
6.1 Introduction
6.2 Single-phase
6.3 Three Phase
7 Global String Inverter Market, By System Type
7.1 Introduction
7.2 On-Grid
7.3 Off-Grid
8 Global String Inverter Market, By End User
8.1 Introduction
8.2 Residential
8.3 Commercial & Industrial
8.4 Utilities
9 Global String Inverter Market, By Power
9.1 Introduction
9.2 Upto 10 kW
9.3 11 kW–40 kW
9.4 41 kW–80 kW
9.5 Above 80 kW
10 Global String Inverter Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 South America
10.3.1 Brazil
10.3.2 Argentina
10.3.3 Chile
10.3.4 Colombia
10.4 Europe
10.4.1 UK
10.4.2 France
10.4.3 Germany
10.4.4 Italy
10.4.5 Spain
10.4.6 Netherlands
10.4.7 Sweden
10.4.8 Russia
10.4.9 Rest of Europe
10.5 Asia-Pacific
10.5.1 China
10.5.2 Japan
10.5.3 India
10.5.4 Indonesia
10.5.5 Malaysia
10.5.6 South Korea
10.5.7 Australia
10.5.8 Sri Lanka
10.5.9 Thailand
10.5.10 Rest of APAC
10.6 Middle-East and Africa
10.6.1 Qatar
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 United Arab Emirates
11 Competitive Landscape
11.1 Competitive Quadrant
11.2 Market Share Analysis
11.3 Strategic Initiatives
11.3.1 M&A and Investments
11.3.2 Partnerships and Collaborations
11.3.3 Product Developments and Improvements
12 Company Profiles
12.1 SolarMax Technology Inc
12.2 ABB Limited
12.3 Advanced Energy Industries, Inc
12.4 Chint Power Systems Co., Ltd.
12.5 Delta Energy Systems GmbH
12.6 Fronius International GmbH
12.7 Ginlong Technologies Co., Ltd.
12.8 Growatt New Energy Technology Co Ltd.
12.9 Huawei Technologies Co., Ltd.
12.10 HyECO Power Tech Co., Ltd.
12.11 Ingeteam
12.12 KACO new energy GmbH
12.13 KOSTAL Solar Electric
12.14 Ningbo Ginlong Technologies
12.15 Samil Power Co., Ltd.
12.16 Schneider Electric SE
12.17 Shenzhen SORO Electronics
12.18 SMA Solar Technology AG
12.19 SolarEdge Technologies, Inc.
12.20 Sungrow Power Supply Co., Ltd.
13 Appendix
13.1 Questionnaire

Companies Mentioned

  • SolarMax Technology Inc
  • ABB Limited
  • Advanced Energy Industries, Inc
  • Chint Power Systems Co., Ltd.
  • Delta Energy Systems GmbH
  • Fronius International GmbH
  • Ginlong Technologies Co., Ltd.
  • Growatt New Energy Technology Co Ltd.
  • Huawei Technologies Co., Ltd.
  • HyECO Power Tech Co., Ltd.
  • Ingeteam
  • KACO new energy GmbH
  • KOSTAL Solar Electric
  • Ningbo Ginlong Technologies
  • Samil Power Co., Ltd.
  • Schneider Electric SE
  • Shenzhen SORO Electronics
  • SMA Solar Technology AG
  • SolarEdge Technologies, Inc.
  • Sungrow Power Supply Co., Ltd.