Press release
String Inverter Market Rising at 15%CAGR to 2024: Analysis of Key Players, Trends, Drivers, & Challenges
String Inverter Market size is expected to cross USD 7 billion by 2024, as per the latest report.
Global industry revenue generated from on-grid will exceed USD 5 billion. It finds application in small to medium scale industrial &commercial complex and large scale utility projects. Increasing adoption of decentralization system is set to drive standalone system demand.
The global revenue generated from up to 10 kW string inverter market for 2015 was over USD 225 million and is predicted to witness strong growth owing to growing rooftop solar system demand from residential and commercial consumers.
Get sample Copy of this report: https://www.marketstudyreport.com/request-a-sample/467896/?utm_source=OP-SL
String Inverter market by product:
• Stand-alone
• On-grid
By Phase
• Single
• Three
By Power Rating
• Up to 10 kW
• 11 kW–40 kW
• 41 kW–80 kW
• Above 80 kW
String Inverter market by end-user:
• Residential
• Commercial
• Utility
The above information is provided on a regional and country basis for the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA
Growth drivers:
• Declining PV component cost
• Remote system monitoring
• Increasing off grid electricity demand
• Industry pitfalls & challenges
• High heat losses
Rising demand for continuous and reliable power sources owing to growing population and urbanization will propel global string inverter market share over forecast period. Strong demand trends for off grid electricity will also play a significant role in industry evolution, with over 800 million of total population having poor or no access to electric grid infrastructure as of 2015.
Reliability, high efficiency and accessibility are some of the parameters which will drive the global string inverter market. Compact size, light weight, ease of installation and ability to increase power density are some of the other features which may positively favor the industry landscape.
Declining component cost coupled with low ongoing maintenance will positively influence string inverter market growth. Advancement of technology has reduced the three-phase inverter price by over 20% from 2013. Cost competitiveness will increase its adoption among residential and commercial users.
Get Discount on this Report: https://www.marketstudyreport.com/check-for-discount/467896/
In the U.S., programs including Renewable Energy Production Incentives (REPI) have been introduced to encourage the adoption of renewable energy technologies which will positively impact demand. REPI program offers incentive payments to new renewable energy facilities that generate and sell electricity. For Europe, UK string inverter market size is set to witness growth over 18% by 2024. Shifting trend towards sustainable energy may favor the industry growth. The electricity generation through renewable resources reached from 64.7 TWh in 2014 to 83.3 TWh in 2015.
India accounted for over 6% of 2015 Asia Pacific string inverter market share and should witness considerable growth on account of increasing clean fuel electricity demand. Government has introduced several initiatives including Jawaharlal Nehru National solar mission to encourage solar system adoption. This program set target to deploy grid connected solar power with 20,000 MW capacity by 2020.
Chile accounted for 10% of Latin America string inverter market share in 2015 and will see considerable growth owing to rising solar power installation. In 2016, Chile has installed 1,113 MW of solar power with over 2 GW of under construction and announced projects.
Related Report:
Global Constant Wattage Heating Cables Market Research Report 2017
In this report, the global Constant Wattage Heating Cables market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016
https://www.marketstudyreport.com/reports/global-constant-wattage-heating-cables-market-research-report-2017/?utm_source=RR-Sl
About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.
Contact Us:
Market Study Report
The Green Suite #4594,
Dover, DE 19901
United States
Phone: 1-201-355-0868
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
News: https://www.marketstudyreport.com/category/news-releases/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release String Inverter Market Rising at 15%CAGR to 2024: Analysis of Key Players, Trends, Drivers, & Challenges here
News-ID: 738411 • Views: …
More Releases from marketstudyreport.com
Load Bank Market Growth Prospectus by 2028 - Business Opportunities by ASCO Powe …
A concise assortment of data on the 'Load Bank Market' offers an exhaustive study targeting current market trends influencing the business across assorted regions. Significant details related to market size, market share, applications, and statistics are put together to convey an ensemble prediction of the industry. The research further focuses on comprehensive competitor analysis in addition to highlighting growth strategies embraced by market leaders.
Load Bank Market Size was estimated…
Agriculture Equipment Market is Expected to Reach USD 161640 Million by 2028 - J …
Global Agriculture Equipment Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of the market with the geographical landscape, demand, remuneration scale, and growth of this vertical have also been included in this report.
Global Agriculture Equipment Market Size was estimated at USD 114110 million in 2021 and is projected to reach USD 161640 million by 2028, exhibiting a CAGR of…
Electric Vehicle Market Size to grow at a CAGR of 23.5% through 2028| Tesla Inc. …
Global Electric Vehicle Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market with the geographical landscape, demand, remuneration scale, and growth of this vertical have also been included in this report.
The electric vehicles (EVs) market is estimated to witness a robust growth rate of 23.5% during the period 2019-2028.
The operation is done to stop ligament tears and…
Fuel Cell Air Compressor Market is Expected to Reach USD 512.3 Million by 2028 - …
Global Fuel Cell Air Compressor Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market with the geographical landscape, demand, remuneration scale, and growth of this vertical have also been included in this report.
Global Fuel Cell Air Compressor Market Size was estimated at USD 215.1 million in 2021 and is projected to reach USD 512.3 million by 2028, exhibiting…
More Releases for String
Decoration String Lights Market Size Analysis by Application, Type, and Region: …
According to Market Research Intellect, the global Decoration String Lights market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The decoration string lights market is experiencing robust growth, fueled by the rising demand for aesthetic and energy-efficient…
String Lights Market Size, Share, Growth 2031
Global String Lights Market Size was estimated at USD 476.3 million in 2021 and is projected to reach USD 716.2 million by 2028, exhibiting a CAGR of 6% during the forecast period.
The String Lights Market 2024 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It…
String Wound Filter Materials Market Report 2024 - String Wound Filter Materials …
"The Business Research Company recently released a comprehensive report on the Global String Wound Filter Materials Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
Ready to Dive into Something Exciting? Get Your Free…
Digital String Encoder Market Size 2024 to 2031.
Market Overview and Report Coverage
The Digital String Encoder Market is a type of digital encoder that utilizes a string or wire as its measuring element to provide accurate and precise position feedback in various industrial applications. This technology is commonly used in industries like robotics, automation, aerospace, and automotive for tasks such as position control, length measurement, and speed monitoring.
The future outlook of the Digital String Encoder Market…
String Inverter Market Size, Share | Trend 2030
Exclusive Report by Ameco Research: String Inverter Market Size Projected to Reach USD 5.80 Billion by 2030, Growing at 6.30% CAGR
Ameco Research is proud to announce the launch of its latest market research report, String Inverter Market. This comprehensive report provides in-depth analysis and insights into the current market trends and future projections in the Industry/Market Segment. Ameco Research has been at the forefront of providing quality market research…
String Inverter Market Future Trends Landscape 2025
Global String Inverter Market: Snapshot
String inverters are used for converting direct current (DC) into alternating current (AC). Strict government regulations towards the use of fossil fuels coupled with the soaring demand for uninterrupted electricity supply is stoking the growth of the global market for string inverters. In addition to this, the introduction of various schemes by governments to promote the adoption of renewable energy is working in favor of the…
