String Inverter Market Report Covering Products, Financial Information, Developments, SWOT Analysis And Strategies Used By The Best Global Companies
String Inverter Market is predicted to surpass USD 5 billion by 2024. Favorable measures to promote the adoption of renewable technology coupled with ongoing investment toward sustainable grid integration will drive the industry growth.
Government has introduced several regulations and incentives including feed in tariff, net metering and financial assistance to promote the development of sustainable technologies and establishments of innovative projects which will further boost the product demand. In 2018, EU has amended its energy policy frameworks with an objective to aim to bind renewable energy of at least 32% from total energy mix. Furthermore, in 2017, 15% of global PV industry driven by net metering, 75% through financial assistance and 5% from competitive tenders across the globe.
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Improved operational efficiency along with declining solar component cost has increased the deployment of solar system, which in turn will propel the string inverter market share. Enhancement of nascent technology along with volume manufacturing practice have resultant into reduce in overall component cost. In addition, surging electricity demand along with strict government regulations pertaining to carbon emissions will further complement the industry landscape.
Industrial application will witness growth owing to surging demand for reliable and uninterrupted power supply along with ongoing measures to curb GHG emissions will augment the business outlook. For instance, in 2018, Tata power has constructed a 6MW rooftop solar project by deploying 95 string inverters across Mangalore refinery site which is located in Karnataka.
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Growing demand for cost effective and reliable solar systems from off grid location will propel the ≤500W string inverter market. In addition, increased investment toward improvement of operational flexibility and the efficiency level will further enhance the product adoption.U.S. string inverter market is set to witness growth of over 4% by 2024. Positive outlook toward the adoption of sustainable technology coupled with growing concern pertaining to energy conservation will stimulate the industry growth. Moreover, federal norms to achieve clean economy structure by minimizing the impact of harmful emissions will further complement the business landscape.
Increasing demand for clean fuel electricity will propel the demand for India string inverter market. Respective regulators have introduced initiatives including Jawaharlal Nehru National solar mission to promote the solar system adoption. The program set a target to deploy grid connected solar power with 20,000 MW capacity by 2020.
Partial Table of Contents (ToC) of the report:
Chapter 4 String Inverter Market, By Power class
4.1 String inverter market share by power class, 2017 & 2024
4.2 Single phase
4.2.1 Global market from single phase, 2013 – 2024
4.2.2 Global market from single phase, by region, 2013 - 2024
4.3 Three phase
4.3.1 Global market from three phase, 2013 – 2024
4.3.2 Global market from three phase, by region, 2013 - 2024
4.3.3 Low power
220.127.116.11 Global market from three phase, by low power, 2013 – 2024
18.104.22.168 Global market from three phase, by low power, by region, 2013 - 2024
4.3.4 High power
22.214.171.124 Global market from three phase, by high power, 2013 – 2024
126.96.36.199 Global market from three phase, by high power, by region, 2013 - 2024
Chapter 5 String Inverter Market, By Nominal Output Power
5.1 String inverter market share by nominal output power, 2017 & 2024
5.2 ≤500 W
5.2.1 Global market from ≤500 W, 2013 – 2024
5.2.2 Global market from ≤500 W, by region, 2013 - 2024
5.3 500 - 1500 W
5.3.1 Global market from 500 - 1500 W, 2013 – 2024
5.3.2 Global market from 500 - 1500 W, by region, 2013 - 2024
5.4 >1500 W
5.4.1 Global market from >1500 W, 2013 – 2024
5.4.2 Global market from >1500 W, by region, 2013 - 2024
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Major participants across string inverter industry are Elettronica Santerno, Sungrow, REFU, SatCon, Delta Group, Samil Power, KACO New Energy, ABB, GoodWe, SMA Solar, Elektronik, Solar Edge, Omron, Huawei, Schneider Electric, Growatt New Energy Technology, Ginlong Technologies, Shenzhen KSTAR, Fronious, SolarMax, TBEA and Chint Group.
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