String Inverter Market Size, Share, Trends, Growth Outlook

The global String Inverter Market Size is estimated to increase at a CAGR of 12.5% during the forecast period from 2024 to 2030.

 

The String Inverter Market research report provides a detailed analysis of diverse segments across 6 regions and 25 countries including Type (Single-Phase, Three-Phase), Connectivity (On-Grid, Off-Grid), Power Rating (Up to 10 kW, 11 kW to 40 kW, 41 kW to 80 kW, above 80 kW), Application (Residential, Commercial, Industrial).

An Introduction to String Inverter Markets in 2024

Productivity, technology enablement, and sustainability remain the key market-driving forces in the global String Inverter industry landscape. Companies that invest in that supply chain and operational resiliency are poised to gain a competitive edge over other market players. The global energy investments are set to increase from around $1,652 Billion in 2024 to $2845 Billion in 2040. As the world is making steady progress towards net zero, energy security, affordability, and industrial competitiveness remain key focus areas of most String Inverter companies. The String Inverter demand trajectory varies based on multiple scenarios, from macroeconomic conditions, regulatory support, investment scenarios, and the global landscape. Decision makers across the String Inverter industry value chain formulating long-term transition strategies with a diverse range of future scenarios are likely to stay ahead of the competition curve.

 

String Inverter Market Trends:

In the string inverter market, there's a trend towards using inverters for converting DC power from solar panels into AC power in photovoltaic systems. Innovations in string inverter designs, MPPT (Maximum Power Point Tracking) algorithms, and grid integration features for higher efficiency are prevalent trends. Additionally, the adoption of string inverters in residential, commercial, and utility-scale solar installations is gaining traction. Moreover, advancements in inverter reliability, smart grid functionalities, and data monitoring capabilities are shaping the market.

String Inverter Market Drivers:

Key drivers propelling the string inverter market include the increasing deployment of solar photovoltaic systems, the focus on maximizing energy yields, and the declining costs of solar energy. String inverters offer advantages such as design flexibility, cost-effectiveness, and simplified maintenance, driving their adoption in solar installations. Moreover, supportive policies promoting solar power and the growing interest in decentralized energy contribute significantly to market growth.

 

String Inverter Market Opportunities:

Opportunities in the string inverter market lie in optimizing inverter performance and expanding applications for diverse solar projects. Collaboration with solar developers, EPC companies, and inverter manufacturers for PV projects offers significant growth prospects. Moreover, investing in research and development for advanced inverter functionalities, grid support features, and hybrid inverter solutions can unlock new avenues for market expansion. Exploring emerging markets with increasing solar adoption and promoting the advantages of string inverters for efficient solar energy conversion can further drive market growth and facilitate the widespread adoption of reliable solar PV systems.

 

String Inverter Market Segmentation

A String Inverter is a type of solar photovoltaic (PV) inverter used in solar power systems to convert DC electricity generated by multiple solar panels connected in series (or "strings") into AC electricity. String inverters are commonly used in residential and commercial solar installations, offering cost-effective and efficient power conversion.

By Type
• Single-Phase
• Three-Phase

By Power Rating
• Up to 10 kW
• 11 kW to 40 kW
• 41 kw to 80 kW
• Above 80 kW

By Application
• Residential
• Commercial
• Industrial

By Connectivity
• On-Grid
• Off-Grid

String Inverter Market Companies

• ABB Ltd
• Advanced Energy Industries, Inc.
• Chint Power Systems Co., Ltd.
• Delta Energy Systems GmbH
• Fronius International GmbH
• Growatt New Energy Technology Co., Ltd.
• KACO new energy GmbH
• Samil Power Co., Ltd.
• Schneider Electric Solar Australia Pty Ltd
• Shenzhen SORO Electronics Co., Ltd
• SMA Solar Technology AG
• SolarEdge Technologies Inc.
• Solarma Group

 

Reasons to Buy the String Inverter Market Study

• Deepen your industry insights and navigate uncertainties for strategy formulation, CAPEX, and Operational decisions
• Gain access to detailed insights on the String Inverter market, encompassing current market size, growth trends, and forecasts till 2030.
• Access detailed competitor analysis, enabling competitive advantage through a thorough understanding of market players, strategies, and potential differentiation opportunities
• Stay ahead of the curve with insights on technological advancements, innovations, and upcoming trends
• Identify lucrative investment avenues and expansion opportunities within the String Inverter industry, guided by robust, data-backed analysis.
• Understand regional and global markets through country-wise analysis, regional market potential, regulatory nuances, and dynamics
• Execute strategies with confidence and speed through information, analytics, and insights on the industry value chain
• Corporate leaders, strategists, financial experts, shareholders, asset managers, and governmental representatives can make long-term planning scenarios and build an integrated and timely understanding of market dynamics
• Benefit from tailored solutions and expert consultation based on report insights, providing personalized strategies aligned with specific business needs.

TABLE OF CONTENTS

1 INTRODUCTION TO 2024 String Inverter MARKETS
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 RESEARCH METHODOLOGY
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 EXECUTIVE SUMMARY
3.1 Global String Inverter Market Size Outlook, $ Million, 2021 to 2030
3.2 String Inverter Market Outlook by Type, $ Million, 2021 to 2030
3.3 String Inverter Market Outlook by Product, $ Million, 2021 to 2030
3.4 String Inverter Market Outlook by Application, $ Million, 2021 to 2030
3.5 String Inverter Market Outlook by Key Countries, $ Million, 2021 to 2030

4 MARKET DYNAMICS
4.1 Key Driving Forces of String Inverter Industry
4.2 Key Market Trends in String Inverter Industry
4.3 Potential Opportunities in String Inverter Industry
4.4 Key Challenges in String Inverter Industry
5 MARKET FACTOR ANALYSIS
5.1 Competitive Landscape
5.1.1 Global String Inverter Market Share by Company
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis

6 GROWTH OUTLOOK ACROSS SCENARIOS
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 GLOBAL String Inverter MARKET OUTLOOK BY SEGMENTS
7.1 String Inverter Market Outlook by Segments
Type
- Single-Phase
- Three-Phase

Power Rating
- Up to 10 kW
- 11 kW to 40 kW
- 41 kw to 80 kW
- Above 80 kW

Application
- Residential
- Commercial
- Industrial

Connectivity
- On-Grid
- Off-Grid

8 NORTH AMERICA String Inverter MARKET ANALYSIS AND OUTLOOK TO 2030
8.1 Introduction to North America String Inverter Markets in 2024
8.2 North America String Inverter Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America String Inverter Market size Outlook by Segments, 2021-2030
Type
- Single-Phase
- Three-Phase

Power Rating
- Up to 10 kW
- 11 kW to 40 kW
- 41 kw to 80 kW
- Above 80 kW

Application
- Residential
- Commercial
- Industrial

Connectivity
- On-Grid
- Off-Grid

9 EUROPE String Inverter MARKET ANALYSIS AND OUTLOOK TO 2030
9.1 Introduction to Europe String Inverter Markets in 2024
9.2 Europe String Inverter Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe String Inverter Market size Outlook by Segments, 2021-2030
Type
- Single-Phase
- Three-Phase

Power Rating
- Up to 10 kW
- 11 kW to 40 kW
- 41 kw to 80 kW
- Above 80 kW

Application
- Residential
- Commercial
- Industrial

Connectivity
- On-Grid
- Off-Grid

10 ASIA PACIFIC String Inverter MARKET ANALYSIS AND OUTLOOK TO 2030
10.1 Introduction to Asia Pacific String Inverter Markets in 2024
10.2 Asia Pacific String Inverter Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific String Inverter Market size Outlook by Segments, 2021-2030
Type
- Single-Phase
- Three-Phase

Power Rating
- Up to 10 kW
- 11 kW to 40 kW
- 41 kw to 80 kW
- Above 80 kW

Application
- Residential
- Commercial
- Industrial

Connectivity
- On-Grid
- Off-Grid

11 SOUTH AMERICA String Inverter MARKET ANALYSIS AND OUTLOOK TO 2030
11.1 Introduction to South America String Inverter Markets in 2024
11.2 South America String Inverter Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America String Inverter Market size Outlook by Segments, 2021-2030
Type
- Single-Phase
- Three-Phase

Power Rating
- Up to 10 kW
- 11 kW to 40 kW
- 41 kw to 80 kW
- Above 80 kW

Application
- Residential
- Commercial
- Industrial

Connectivity
- On-Grid
- Off-Grid

12 MIDDLE EAST AND AFRICA String Inverter MARKET ANALYSIS AND OUTLOOK TO 2030
12.1 Introduction to Middle East and Africa String Inverter Markets in 2024
12.2 Middle East and Africa String Inverter Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa String Inverter Market size Outlook by Segments, 2021-2030
Type
- Single-Phase
- Three-Phase

Power Rating
- Up to 10 kW
- 11 kW to 40 kW
- 41 kw to 80 kW
- Above 80 kW

Application
- Residential
- Commercial
- Industrial

Connectivity
- On-Grid
- Off-Grid

13 COMPANY PROFILES
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
- ABB Ltd
- Advanced Energy Industries, Inc.
- Chint Power Systems Co., Ltd.
- Delta Energy Systems GmbH
- Fronius International GmbH
- Growatt New Energy Technology Co., Ltd.
- KACO new energy GmbH
- Samil Power Co., Ltd.
- Schneider Electric Solar Australia Pty Ltd
- Shenzhen SORO Electronics Co., Ltd
- SMA Solar Technology AG
- SolarEdge Technologies Inc.
- Solarma Group

14 APPENDIX
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

String Inverter Market Segmentation

By Type
• Single-Phase
• Three-Phase

By Power Rating
• Up to 10 kW
• 11 kW to 40 kW
• 41 kw to 80 kW
• Above 80 kW

By Application
• Residential
• Commercial
• Industrial

By Connectivity
• On-Grid
• Off-Grid