Press release
Global String Inverter Market: Market Growth Influencers, Key Players and Forecast for 2024 to 2029
String Inverter Market
What Is The Projected Market Size Of The Global String Inverter Market And Its Growth Rate?
•The string inverter market size has grown from $4.12 billion in 2024 to $4.36 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%.
•The market is expected to grow to $5.76 billion in 2029 at a CAGR of 7.3%.
What Is Driving The Growth In The String Inverter Market?
Rapid growth in socio-economic factors such as population, urbanization, net capital income, and industrial activities is driving the increasing electricity demand and consequently the string inverters market. String inverters are key components that convert electricity generated from solar panels to usable electricity. For instance, in July 2024, according to the House of Commons, household energy bills in the UK rose by 54% in April 2022, and 27% in October 2022. While lower wholesale prices have resulted in decreased rates, bills are approximately 29% higher than winter 2021/22 levels, indicating a rise in electricity demand expected to stimulate the string inverter market.
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Who Are the Key Players Driving String Inverter Market Growth?
• Chint Group Corp.
• Delta Electronics Inc.
• Sputnik Engineering AG
• Growatt New Energy Technology Co. Ltd.
• Siemens AG
• SMA Technologies AG
• Fimer S.p.A.
• SolarEdge Technologies Ltd.
• Ginlong Technologies Co.
• SolarMax Energy pvt. Ltd.
• Huawei Technologies Co. Ltd.
• ABB Ltd.
• KACO New Energy GmbH
• Ningbo Ginlong Technologies Co. Ltd.
• Fronius International GmbH
• Eaton Corporation Plc
• Altenergy Power System
• Darfon Electronics Corporation
• Sungrow Power Supply Co. Ltd.
• CC Power Electronics Ltd.
• Schneider Electric SE
• Delta Energy Systems Gmbh
• TMEIC Corporation
• Advanced Energy Industries Inc.
• Kostal Solar Electric GmbH
• REFUsol GmbH
• Danfoss Solar Inverters A/S
What Are The Key Trends In The String Inverter Market?
• Hybrid inverter solutions.
• Multi-mppt designs.
• Grid support functions.
• Cybersecurity features.
• High power density.
What Are The Segments Of The Global String Inverter Market?
1) By Connection Type: On-Grid, Off-Grid
2) By Nominal Output Voltage: ≤ 230 V, 230 - 400 V, 400 - 600 V, > 600 V
3) By Power Rating: Up to 10 kW, 11 kW - 40 kw, 41 kW - 80 kW, Above 80 kW
4) By End Use Industry: Residential, Commercial and Industrial, Utilities
Which Region Leads The String Inverter Market?
Asia-Pacific was the largest region in the string inverter market in 2024. Other regions covered in the string inverter market report include Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What Is Covered In The String Inverter Market Global Market Report?
- Market Size Analysis: Analyze the String Inverter Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the String Inverter Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall String Inverter Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the String Inverter Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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