String Inverter Market Competitive Market Share & Forecast, 2018 – 2024 Top Key Players – Ginlong Technologies, Elettronica Santerno, TBEA, SMA Solar, Sungrow, Fronious, Schneider Electric, REFU, Elektronik
Single and three phases are the two key types of the string inverter. Three-phase string inverter market share, which was worth over USD 1 billion in 2015, is anticipated to exhibit significant growth over the coming years. The growth can be attributed to its increasing demand across the commercial and utility sectors.
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The commercial, residential, and utility are the prominent application areas of the string inverter market. The commercial application covered more than 70% of the overall market share in 2015 and is projected to exhibit noticeable growth rate, driven by the growing urbanization along with huge investment in infrastructure development. The utility and residential applications also make substantial contributions towards the string inverter industry share.
Based on the power rating, string inverter industry is primarily segmented into over 80KW, 41KW-80KW, 11KW-40KW, and 10KW. The string inverter of capacity 11KW to 40KW collected a revenue of over USD 700 million in 2015 and is anticipated to record a considerable growth rate, due to its surging demand from commercial complexes and small-scale industries.
On-grid and standalone are the two main products of the string inverter market size. Standalone product occupied more than 35% of global revenue share in 2015 and is expected to grow significantly over the coming period, mainly driven by the escalating installation of decentralized systems in the rural areas. On-grid string inverter market revenue will exceed USD 5 billion by 2024 with an annual growth rate of more than 20% over the coming seven years. The growth can be attributed to the strict norms regarding industrial emissions along with high demand for renewable energy.
Based on the geographical outlook, China accounted for more than 40% of the worldwide string inverter industry share in 2015 and will exhibit lucrative growth over the coming years, driven by the large-scale installation of photovoltaic voltage projects. Furthermore, growing demand for clean electricity along with supportive government initiatives will stimulate India string inverter market size.
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Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 String Inverter Industry Insights
Chapter 4 String Inverter Product Insights
Chapter 5 String Inverter Phase Insights
Chapter 6 String Inverter Power Rating Insights
Chapter 7 String Inverter Application Insights
Chapter 8 String Inverter Regional Insights
Chapter 9 Company Profiles
Browse key industry insights spread across 530 pages with 469 market data tables & 12 figures & charts from the report @ https://www.gminsights.com/industry-analysis/string-inverter-market
The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
• Definition and scope of research
• Market dynamics, growth drivers and industry pitfalls
• Regulatory and political guidelines for the industry
• Demographics and statistical data
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