Research Report and Overview on String Inverter Market 2021

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 ****** 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 ****** 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 ****** shipments are projected to double in the next 4 years.

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