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The objective of the String Inverter Market report is to offer updated information such as the market share, size, trends, emerging markets, earnings, forecasts, and data on leading industry players. This study includes significant and vital information necessary for strategic decision making and have a competitive edge.
In view with the current pandemic analysts at Stratview Research has thoroughly analyzed and presented the following parameters under the detailed Covid – 19 impact analysis in the String Inverter Market.
Market Insights – The String Inverter Market is projected to grow from USD 6.36 billion in 2022 to USD 8.69 billion by 2028 at a CAGR of over 5.3% during the forecast period.
Few key players operating in the String Inverter Market are-
Elettronica Santerno
Fronius International GmbH
Ginlong Technologies
GoodWe
REFU
SatCon Technology Corporation
Schneider Electric
SMA Solar Technology AG
Sungrow Power Supply Co., Ltd
TBEA Co., Ltd..
Growth drivers and Market Value:
This report, from Stratview Research, studies the String Inverter Market value and growth drivers over the trend period of 2022-27. According to the report -
String Inverter Market is likely to witness a healthy CAGR of 4% during the forecast period. Multiple government initiatives to accelerate the adoption of sustainable energy, decreasing component prices due to favorable tax benefit considerations, upgradation of primitive technologies paired with volume manufacturing practices leading to significant reduction in the overall component prices are some of the major factors driving the market growth during the forecast period.
Based on Power Class Type:
Based on the power class type, the market is segmented as single phase and three phase. Single phase string inverters are projected to witness strong growth rate in the market owing to their effective operational feasibility, due to which they are gaining traction in residential and small commercial establishments. In addition, some positive regulatory prospects such as feed-in tariff schemes are expected to drive the product demand during the forecast period. On the other hand, three phase string inverters are expected to benefit from factors such as low cost, absence of inverter subpanel and compact size over the forecast period. Three phase string inverter type is further categorized as Low Power ≤99 kW and High Power >99 kW.
Based on Region:
In terms of regions, North America is estimated to be the leading region in the market for string inverters during the forecast period. The region’s growth is driven by the growth in the U.S. market along with the federal norms to achieve clean economy structure by reducing the impact of harmful emission and increasing the focus towards energy conservation. On the other hand, the Asia-Pacific market is likely to be positively influenced over the forecast period with China and India being the growth engines offering promising growth opportunities. Europe is also expected to offer substantial growth opportunities during the forecast period.
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Critical Questions Answered in the Report
l What are the key trends in the global String Inverter Market?
l How the String Inverter Market (and its various sub-segments) has grown in the last five years?
l What would be the growth driver and growth rate in next five years?
l What is the impact of COVID-19 on the String Inverter Market?
l What are the key strategies adopted by the major vendors to lead in the String Inverter Market?
l What is the market share of the key players?
Target Audience
The following is a list of the customers that the String Inverter Market aims to convert the most:
l Manufacturing Organizations
l Distributors & Suppliers
l Potential Investors
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