Industry
Highlights
A string inverter is connected with a
string of solar panels, which is called the solar array and each solar panel is
connected in series to the string inverters. The inverter combines all the
direct current received from each individual solar panel and, at once, converts
it into alternating current. Moreover, easy replacement and more flexibility as
well as availability are some of the factors which driving the market of string
inverter. The global market of String Inverter around the world is growing
rapidly due to factors such as ease of maintenance, Trusted Technology as well
as Lower costs are booming the market of string market.
Prominent
Players
We recognize the key players in the global
String Inverter market are SolarMax, Huawei Technologies, Sungrow Power Supply,
Fronius International, KOSTAL Solar Electric, Growatt New Energy Technology,
Schneider, Ingeteam, Ginlong Technologies, Advanced Energy Industries, and KACO
New Energy
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Industry
Overview
One of the latest evolutions in the
inverter industry is three-phase string inverters for the small-to-medium
commercial PV market. Now, several manufacturers are offering string inverters
with three-phase output, which offers several benefits such as Lower price as
well as required less wall space and reduced installation time. Moreover, High
Fuel Efficiency, High Quality Electrical Output are some factors spur the
market. Geographically, Asia Pacific string inverter market share witness
considerable growth on account of increasing clean fuel electricity demand.
Moreover, Government has introduced several initiatives including Jawaharlal
Nehru National solar mission to encourage solar system adoption. As well as In
the U.S., includes Renewable Energy Production Incentives introduced to
encourage the adoption of renewable eergy technologies which driving the market
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Market
Segmentation
The report has analyzed the market based
on the four segments: product, phase, application, and end use in the regions
of North America, Europe, APAC and rest of the world.
On the basis of product, it includes
On-grid, off-grid. On-grid segment is expected to hold the largest share of the
string inverter market due to the market of three-phase string inverters, which
are being commercialized at a huge scale in Asia-Pacific and Europe.
On the basis of phase, it includes Single,
Three. It is referred as largest market owing to rising installations of large
utility-scale solar systems in Japan, China, and other European countries.
Moreover
On the basis of application, it includes
Residential, Commercial, Industrial, utilities. The utilities segment is
expected to hold the largest share. Utility-scale large projects are improving
for renewable integration and accelerating the growth of the string inverter
market for the utility segment.
String inverter in utility-based solar
systems, integrated with energy storage systems expected to grab the market
Whereas Asia pacific region expected to grow the String Inverter market. The
scope of the market has widened over many years owing to the flourishing
markets of Asia pacific
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