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String Inverter Market a Comprehensive Analysis report Application Potential, Competitive Market Share & Forecast, 2018 - 2024

04-25-2019 01:27 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

String Inverter Market a Comprehensive Analysis report

Surging investments toward effective deployment of clean energy technologies will accelerate the global string inverter market size. Development of large utility scale solar photovoltaic projects with an aim to reduce the dependency on conventional systems will further add to the product demand over the forecast timeframe. In 2018, KACO new energy launched blueplanet 125 TL3 string inverter which on account of its low weight and high-power density is gaining wide acceptance across small scale utility projects.

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U.K. string inverter market is anticipated to expand over 690 MW by 2024. Rising investments toward the development of high capacity grid connected PV projects will accelerate the product penetration across the region. In 2015, Greencells Group announced the completion 62 MW solar photovoltaic project across the UK comprising of 2,200 string inverter units.

Declining component prices owing to various tax redemption measures by the regulators will facilitate the expansion of string inverter market over the forecast period. Manufacturers significant investments to enhance their existing R&D capabilities will further reduce the component prices thereby positively impacting the inverter demand.

Brazil string inverter market is expected to witness appreciable growth on account of favorable regulatory norms established by the policymakers toward clean energy. In 2018, Huawei FusionSolar announced to supply its inverter systems to the country’s first digitalized utility scale photovoltaic project having capacity of 75 MW.

Research Methodology

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

All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

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Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:
• Leadership figures such as CEOs, CSOs, VPs etc. in key companies
• Supply-chain participants, distributors and domain experts
• Key customers and B2B clients
• Market research reports: Key analytical components

Canada string inverter market is anticipated to witness substantial growth on account of government measures to effectively capitalize the nations diverse unconventional energy potential. Numerous socioeconomic factors including greenhouse gas (GHG) emissions targets, and deregulation have created significant investments in the clean energy sector, thereby raising the product demand.

Stringent emission reduction norms established by regulators will significantly expand the string inverter market share globally. Ongoing grid integration plans for renewable energy sources followed by positive government measures including tax incentives will further enhance the industry growth.

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Commercial string inverter market is anticipated to expand over 5% by 2024. Positive consumer outlook favored by fiscal benefits associated with the deployment of solar components will raise the product demand. In addition, optimistic regulatory approaches across emerging countries focusing on decentralized systems with rapid enhancement of distributed generation technologies will favor the global industry outlook.

On grid string inverter market is anticipated to witness exponential growth on account of significant investments being carried out by both public and private entities toward development of large capacity projects. Implementation of mechanism such as fed in tariff and reverse auction will positively stimulate the industry growth.
Major players across the industry includes Solar Edge, Growatt New Energy Technology, Chint, GoodWe, Ginlong Technologies, TBEA, Samil Power, Sungrow, Fronious, REFU, Elektronik, SatCon, Schneider Electric, Shenzhen KSTAR, SMA Solar, KACO New Energy, Delta, Omron, SolarMax, Elettronica Santerno, Huawei, and ABB.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research

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