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String Inverter Market Growth Potentials Trends Key Company Profile

By Author: Akshay
Total Articles: 133

The string inverter market was valued at USD 2.44 Billion in 2015, and is expected to grow at a CAGR of 8.29% from 2016 to 2021. Decrease balance of system cost, remote systems monitoring capabilities, and easy installation & customization are the major factors driving the string inverter market.
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Objectives of the Study

To define, describe, and forecast the global string inverter market on the basis of phase, power rating, end-user, system type, and region
To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
To strategically analyze the string inverter market with respect to individual growth trends of manufacturers and service providers, their future expansions, and contribution to the market
To forecast the growth of the string inverter market with respect to the main regions (Asia-Pacific, Europe, the Americas,  and the Middle East & Africa)
To strategically profile key market players and comprehensively analyze their market shares and core competencies
To analyze market opportunities for stakeholders and provide details of competitive developments, such as contracts & agreements, mergers & acquisitions, expansions, and new product/technology launches, in the global string inverter market

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The report segments the string inverter market based on end-users into residential, commercial & industrial, and utilities. Utilities segment is the largest end-user of string inverter owing to growing number of utilities in the solar sector, serving both, the distributed solar market as well as building and operating large-scale PV power plants.
Based on system type, the on-grid segment is expected to dominate the string inverter market during the forecast period. The market has also been segmented based on power rating into four segments: up to 10 kW, 11 kW – 40 kW, 41 kW – 80 kW, and above 80 kW. The 41 kW-80 kW segment is the largest market; due to their compact size and light weight, these inverters offer more design flexibility for all sizes of PV plants and provide higher level of protection and enhances durability in a harsh outdoor environment.
The report segments the string inverter market based on phase into single-phase and three-phase. The latter is estimated to be the largest market owing to rising installations of large utility-scale solar systems in Japan, China, and other European countries. Inverter manufacturers have been strongly promoting the installation of three-phase string inverters in large power plants, due to which the global shipments are projected to double in the next 4 years.
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