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String Inverter Market Size, Share, Price | Industry Report 2021
String Inverter Market
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The string inverter market is projected to reach USD 3.89 billion by 2021, growing at a CAGR of 8.29% from 2016 to 2021. String inverters are used in residential, commercial & industrial, and utilities. Decrease balance of system cost, remove systems monitoring capabilities, and easy installation &customization are expected to drive the string inverter market. On the other hand, shading one panel reduces the efficiency of panels, along with heat losses due to the large size of the inverter, is the major restraint of the global string inverter market.
With regard to system type, the off-grid segment is estimated to grow at the fastest CAGR. Though off-grid technology is cheaper, the string inverter application is not very cost effective, which restricts the installation of string inverter at a large scale, such as three-phase string inverters. In coming years, with declining solar module, inverter, and overall solar systems prices, off-grid string inverters are expected to gain momentum.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 43%, Tier 2- 33%, Tier 3- 24%
• By Designation: C-Level- 35%, D-Level- 25%, Others- 40%
• By Region: Americas- 15%, Europe-30%, Asia-Pacific- 45%, Rest of World- 10%
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Key players include:
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
• SMA Solar Technology AG
• Solaredge Technologies, Inc.
• Schneider Electric Solar
• ABB Limited
• Sungrow Power Supply Co., Ltd.
• Fronius International GmbH
• Solarmax Group
• Yaskawa – Solectria Solar
• Ginlong Technologies
• Delta Energy System GmbH
• Samil Power Co., Ltd.
• KACO New Energy GmbH
• Chint Power Systems Co., Ltd.
• Huawei Technologies Co. Ltd
• Growatt New Energy Technology Co., Ltd.
Research Coverage:
The report provides a picture on the string inverter market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as system types, phase, end-users, power rating, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall string inverter market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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