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String Inverter Market 2023 : Trends, Business Growth And Major Driving Factors | Chint Group Co Ltd., Delta, Sputnik Engineering, Growatt New Energy, Siemens, Ginlong Technologies Co
String Inverter Market
String Inverter Market Size, Growth Rate, And Forecast
The global string inverter market size grew from $3.64 billion in 2022 to $3.91 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The string inverter market size is expected to grow to $5.24 billion in 2027 at a CAGR of 7.6%.
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String Inverter Market Drivers
The increasing electricity demand is driving the string inverters market. Rapid growth in socio-economic factors such as population, urbanization, net capital income, and industrial activities in both developed and developing economies have contributed to a rapid surge in demand for electricity across the globe.
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String Inverter Market Segments
• By Connection Type: On-Grid, Off-Grid
• By Nominal Output Voltage: = 230 V, 230 - 400 V, 400 - 600 V, > 600 V
• By Power Rating: Up to 10 kW, 11 kW - 40 kw, 41 kW - 80 kW, Above 80 kW
• By End Use Industry: Residential, Commercial and Industrial, Utilities
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the String Inverter market.
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String Inverter Market Key Players
Major players in the string inverter market are Chint Group Co Ltd., Delta, Sputnik Engineering, Growatt New Energy, Siemens, Ginlong Technologies Co, SMA Solar Technology, Fronius International, KACO New Energy GmbH, Samil Power Co Ltd., FIMER SpA, SolarMax, Hitachi Hi-Rel Power Electronics, TMEIC, and Sineng Electric Co.
The Business Research Company's "Global String Inverter Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The String Inverter Market Include:
1. Executive Summary
2. String Inverter Market Characteristics
3. String Inverter Market Trends And Strategies
4. String Inverter Market - Macro Economic Scenario
5. String Inverter Market Size And Growth
……
25. Key Mergers And Acquisitions In The String Inverter Market
27. String Inverter Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The String Inverter Market
29. String Inverter Market Future Outlook and Potential Analysis
30. Appendix
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