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A recent report published by Infinium Global Research on string inverter market provides in-depth analysis of segments and sub-segments in global as well as regional string inverter market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional string inverter market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global string inverter market. According to report the global string inverter market is projected to grow at a CAGR of 7.3% over the forecast period of 2018-2024.
A string inverter is a device for converting DC to AC power and which is designed mainly for high voltage DC inputs. A string inverter is connected with the string of the solar panel, which is called solar array. The inverter combines all the direct current received from each individual solar panel and, at once, converts it into alternating current. The main advantage of using string inverters are available at lower cost and there is ease of maintenance and troubleshooting. As the module level, power electronics are gaining rapidly string inverters are more commonly used, as they are suitable for installations where the individual string off panels can be installed perfectly on a single plane without shading during any part of the day.
String inverters can be easier to install because they accept DC input from multiple panels and do not need to be installed directly adjacent to individual panels. This also makes string inverter easier to maintain, yet possibly more difficult to troubleshoot if something goes wrong. This, in turn, is the major driving factor for the growth of the string inverter market. However, higher heat loss due to the large size of the inverters is likely to hamper the growth of the string inverter market during the forecast period. Moreover, steps taken by governments to promote the use of alternative energy supplemented by attractive intensives and subsidies are expected to increase the number of installations of solar panels, which in turn will generate demand for string inverters. This, in turn, has opened several doors of opportunity for the key players in the string inverter market over the years to come.
Among the geographies, Asia Pacific dominated the string inverter market owing to the government policies such as feed on tariffs and tenders. The developing countries such as India and China are estimated to be the major contributors to the growth of the string inverter market in the Asia Pacific regions. On the other hand, North America and Europe are projected to be the next big markets for string inverter markets. Moreover, the Middle East and Africa are expected to hold negligible share in the global string inverter market over the forecast period.
The report on global string inverter market covers segments such as phase, system type and power rating. On the basis of phase, the global string inverter market is categorized into single-phase and three-phase. On the basis of system type, the global string inverter market is categorized into on-grid and off-grid. On the basis of power rating the global string inverter market is categorized into up to 10 kW, 11 kW–40 kW, 41 kW–80 kW and above 80 kW.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024
The report provides profiles of the companies in the global string inverter market such as Huawei Technologies Co. Ltd., Sungrow, SMA Solar Technology, ABB Limited, Sineng, TBEA SunOasis Co., Ltd., Power Electronics, TMEIC, Schneider Electric, and SolarEdge Technologies.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global string inverter market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of string inverter market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the string inverter market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the string inverter market to understand the present and future trends in this market and formulate their strategies accordingly.
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