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

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