String Inverter Market 2018 by Global Leaders: SolarMax, Huawei Technologies, Sungrow Power Supply, Fronius International, KOSTAL Solar Electric, Schneider

Industry Analysis
The global string inverter market is estimated to be propelled by the higher demand for incessant electric supply. Alongside, strong maintenance should raise the demand for these products. Also, governmental initiatives for the usage of renewable energy in contrast to fossil fuels can enhance market sales. Implementation of different schemes, comprising feed-in-tariff and net metering would contribute more revenues for the industry.

Reduction in the prices of components and the need for sustainable energy also drive market growth. Advancements in technologies have led to significant reduction in component prices, furthering their power density. String inverters are largely, the most utilized alternative worldwide. They constitute most of the global inverter industry. On the other hand, MLPE technologies are quickly gaining more popular and higher traction.

Division/Classification
The worldwide string inverter market is classified into phases, products, applications, and geographical regions. Phases include three and single. The products are off-grid and on-grid. By applications, the industry is segmented into commercial, residential, utilities, industrial, etc. Various geographies encompass Asia Pacific, North America, the Middle East & Africa, Europe, and rest of the world.

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Key Players
The major player operating in the market of Global String inverter are SolarMax, Huawei Technologies, Sungrow Power Supply, Fronius International, KOSTAL Solar Electric, Growatt New Energy Technology, Schneider, Ingeteam, Ginlong Technologies, Advanced Energy Industries, KACO New Energy.

News/Innovative Trends
The recently held ‘Solar Power International’ in 2017 was a massive success. In this event, products, XGI 1500V utility and XGI 1000V commercial inverters were launched. They stole the limelight and were the first ‘Solectria’ products made at a Buffalo Grove, IL facility. These products are expected to prove their remarkable abilities and serve as pioneers to further developments.

Leading Sub-Segments
With respect to products, on-grid dominated in 2015. On-grid products find wide usage in medium to small scale manufacturing & commercial end-users. The same factor is boosting the sales of three phase string inverters. Three phase products are facing high-scale commercialization across Europe and Asia Pacific.

Among applications, utilities are predicted to occupy the largest shares in the near future. Big utility scale projects are on the rise, considering the incorporation of renewable policies. On islands, energy storage systems adopt string inverters to deliver the best results.

Manufacturers of inverters have been broadly endorsing the installation of three phase products in big power plants. This can lead the number of shipments worldwide to double in the coming 4 years. By geographies, Asia Pacific will lead the global industry over the forecast period. The region is likely to maintain supremacy due to the need for clean fuel electricity.

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