Industry Highlights

A string inverter is connected with a string of solar panels, which is called the solar array and each solar panel is connected in series to the string inverters. The inverter combines all the direct current received from each individual solar panel and, at once, converts it into alternating current. Moreover, easy replacement and more flexibility as well as availability are some of the factors which driving the market of string inverter. The global market of String Inverter around the world is growing rapidly due to factors such as ease of maintenance, Trusted Technology as well as Lower costs are booming the market of string market.

Prominent Players

We recognize the key players in the global String Inverter market are SolarMax, Huawei Technologies, Sungrow Power Supply, Fronius International, KOSTAL Solar Electric, Growatt New Energy Technology, Schneider, Ingeteam, Ginlong Technologies, Advanced Energy Industries, and KACO New Energy

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Industry Overview

One of the latest evolutions in the inverter industry is three-phase string inverters for the small-to-medium commercial PV market. Now, several manufacturers are offering string inverters with three-phase output, which offers several benefits such as Lower price as well as required less wall space and reduced installation time. Moreover, High Fuel Efficiency, High Quality Electrical Output are some factors spur the market. Geographically, Asia Pacific string inverter market share witness considerable growth on account of increasing clean fuel electricity demand. Moreover, Government has introduced several initiatives including Jawaharlal Nehru National solar mission to encourage solar system adoption. As well as In the U.S., includes Renewable Energy Production Incentives introduced to encourage the adoption of renewable eergy technologies which driving the market

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Market Segmentation

The report has analyzed the market based on the four segments: product, phase, application, and end use in the regions of North America, Europe, APAC and rest of the world.

On the basis of product, it includes On-grid, off-grid. On-grid segment is expected to hold the largest share of the string inverter market due to the market of three-phase string inverters, which are being commercialized at a huge scale in Asia-Pacific and Europe.

On the basis of phase, it includes Single, Three. It is referred as largest market owing to rising installations of large utility-scale solar systems in Japan, China, and other European countries. Moreover

On the basis of application, it includes Residential, Commercial, Industrial, utilities. The utilities segment is expected to hold the largest share. Utility-scale large projects are improving for renewable integration and accelerating the growth of the string inverter market for the utility segment.

String inverter in utility-based solar systems, integrated with energy storage systems expected to grab the market Whereas Asia pacific region expected to grow the String Inverter market. The scope of the market has widened over many years owing to the flourishing markets of Asia pacific

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