Mon. Nov 29th, 2021

Rise in demand for sustainable energy and rural electrification in emerging economies are expected to drive the demand for global string inverter market in forecast period.

According to TechSci Research report, “Global String Inverter Market By Phase (Single and Three), By System Type (On-Grid and Off-Grid), By Power Rating (Up to 10kW, 11kW–40kW, 41kW–80kW, and Above 80kW), By End-User (Residential, Commercial & Industrial, and Utilities), By Company, By Region, Forecast & Opportunities, 2026”, is expected to witness robust growth in the next five years owing to rise in demand for reliable and continuous energy source and installation along with long scale utility projects. Stringent government policies for adoption of solar energy are another factor fueling the Global String Inverter Market growth. Tax benefits associated with Global String Inverter Market associated with adoption of solar energy and reduction in the component costs are the other factors contributing to the global string inverter market.

However, large size of the inverter results in higher heat loss and availability of alternate energy sources may create hindrance in the global string inverter market growth.

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Global String Inverter Market is segmented by phase, system type, power rating, end-user, region, and company. Based on phase, market is categorized into single phase and three phase market. Single phase is expected to play a major role in the growth of Global String Inverter Market. Increase in installation in residential and commercial establishments is fueling the growth for the Global String Inverter Market. High operational feasibility over its counterpart is another factor aiding in the market growth. Based on system type, market is bifurcate into on grid and off-grid market. On grid is dominating the global string inverter market owing to huge applications in small to medium commercial and industrial and large-scale utility projects. Based on power rating the market is divided into up to 10kW, 11kW–40kW, 41kW–80kW, and above 80kW. 41kW–80kW is anticipated to hold significant role in the global string inverter market growth. They provide reliability of energy production and is compact in size and comprises of lower weight compared to its counterparts. Based on end-user, market is segregated into residential, commercial & industrial, and utilities. Utilities segment is expected to hold largest share in global string inverter market owing to diverse applications in solar sector, buildings and operating photovoltaic power stations.

KACO New Energy GmbH, Delta Energy Systems GmbH, ABB Limited, Fronius International GmbH, SMA Solar Technology AG, Huawei Technologies Co. Ltd, Solaredge Technologies, Inc., Growatt New Energy Technology Co., Ltd., Ginlong Technologies, Solarmax Group are the leading players operating in global string inverter market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several string inverter manufacturers are coming up with their technologically advanced offerings.

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“Refurbishment of the existing energy infrastructure and integration of renewable energy resources on a broader scale is influencing the market growth of the string inverter market.  Rapid industrialization across the globe has surged the energy requirement needs. Also, to fulfill the emission target and reduce impact of the environment, implementation of the string inverter with energy network is expected to boost the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global String Inverter Market By Phase (Single and Three), By System Type (On-Grid and Off-Grid), By Power Rating (Up to 10kW, 11kW–40kW, 41kW–80kW, and Above 80kW), By End-User (Residential, Commercial & Industrial, and Utilities), By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global string inverter market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global string inverter market.

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