A string inverter is the most widely used inverter in residential and commercial solar power systems. Depending on the size of the installation, one or more string inverters are installed in a single solar array. The highly efficient, string inverters come with the remote system monitoring capabilities. They are cost-effective and provide robust support constantly.
The market growth is led by the rising demand for incessant and reliable power sources and the features that String Inverters offer such as easy installation & customization. The proliferation of Solar Energy systems perceiving huge demand and adoption fosters the market growth. Moreover, decreasing prices of these inverters along with some of their unique features is expected to propel the market growth during the review period.
The demand for energy has been rising in the recent times. Although there are several pre-existing power grid project along with many underway power grid projects across the globe, the potential upgrading requirements are bound to push the sales of the inverts up.
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String Inverter Market – Competitive Analysis
Characterized by the presence of several major well-established players, the global Market of String Inverter appears to be highly competitive. These players incorporate collaboration, acquisition, partnership, technology launch, and expansion to gain a competitive advantage in this market and to maintain their market position. Strategic alliances between Key players are expected to support the growth and expansion plans during the forecast period.
Industry/ Innovations/ Related News
June 28, 2018 – The Sungrow Solution (China), a global leading inverter solution supplier for renewables presented a new virtual central inverter concept that combines the benefits of string and central inverters at the 2018 Smart E event held in Munich. Sungrow also presented its virtual central inverter concept at the section of the latest technological developments. The concept is about grouping the utility-scale string inverters within an array, to optimize service and installation in a fashion similar to central inverters. Therefore to combine the benefits of a string inverter with those of central inverters for utility-scale power.
Indusrty Top Key Players:-
Huawei Technologies, SolarMax, Sungrow Power Supply, KOSTAL Solar Electric, Fronius International, Growatt New Energy Technology, Ingeteam, Schneider, Ginlong Technologies, KACO New Energy and Advanced Energy Industries are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global String Inverter Market.
Global String Inverter Market – Segments
The String Inverter Market is segmented into four key dynamics for the convenience of the report and enhanced understanding;
By Products : Comprises On-grid and off-grid.
By Phases : Single, and Three Phase.
By Applications : Residential, Commercial, Industrial, and Utilities among other.
By Regions : North America, Europe, APAC and Rest-of-the-World.
The Residential segment accounted for the major share in the Global String Inverter Market.
Major Points of TOC:-
1 MARKET INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
2 RESEARCH METHODOLOGY
2.1 RESEARCH TYPE
2.2 PRIMARY RESEARCHPT
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
2.4.3 MARKET CRACKDOWN & DATA TRIANGULATION
3 MARKET DYNAMICS
4 EXECUTIVE SUMMARY
To be continued….
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Global String Inverter Market – Regional Analysis
Asia-Pacific is the leading region in the String Inverter market mainly due to the rapid growth in the manufacturing sector in recent times. India and China among other APAC countries have been accounted for the major contributors to the market growth. Rapid commercial activities and industrial development are too supporting the market growth in the region. Owing to the growing demand for the clean electricity, the Region is expected to retain its dominance during the forecast period.
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