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String Inverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global string inverter market reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

A string inverter is a standalone device used for converting the power obtained from solar panels to usable electricity for residential applications. Each panel is connected to a series, or rows, of string inverters that combine the obtained direct current (DC) and convert it to alternating current (AC). String inverters are also integrated with power optimizers and smart modules to mitigate the impact of shading and offer enhanced cost-effectiveness and operational efficiency. They can be deployed on-grid or off-grid and are also used for voltage tracking, grid communications, supplying power during shutdowns and troubleshooting. In comparison to the traditionally used central inverters, string inverters can be utilized in small utility installations with minimal power requirements.

String Inverter Market Trends:

The increasing demand for renewable energy resources across the globe is one of the key factors driving the growth of the market. Moreover, the widespread adoption of solar power systems for residential, commercial and industrial applications is providing a thrust to the market growth. Industries are increasingly utilizing non-conventional sources of energy to reduce carbon footprint and minimize the costs of energy conversions for large-scale projects. String inverters require minimal monitoring and maintenance and offer enhanced reliability, scalability and flexibility of operations. Additionally, various technological advancements, such as the development of utility-scale solar photovoltaic installations that are used for generating electricity for distribution applications, are acting as other growth-inducing factors. These inverters ensure uninterrupted power supply for industrial operations and infrastructural development projects. Other factors, including the implementation of favorable government policies for sustainable development, along with increasing investments in the electrification of remote and rural areas, especially in the developing economies, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global string inverter market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on connection type, phase, power rating and end use.

Breakup by Connection Type:

  • On-Grid
  • Off-Grid
     

Breakup by Phase:

  • Single Phase
  • Three Phase
     

Breakup by Power Rating:

  • Up to 10kW
  • 11kW to 40kW
  • 41kW to 80kW
  • Above 80kW
     

Breakup by End Use:

  • Residential
  • Commercial and Industrial
  • Utilities
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Chint Power Systems, Delta Electronics (Thailand) PCL, Fronius International GmbH, Ginlong Technologies Co. Ltd., Huawei Technologies Co. Ltd., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, SolarEdge Technologies Inc., SOLARMAX GmbH and Sungrow Power Supply Co. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
    Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Connection Type, Phase, Power Rating, End Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., Chint Power Systems, Delta Electronics (Thailand) PCL, Fronius International GmbH, Ginlong Technologies Co. Ltd., Huawei Technologies Co. Ltd., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, SolarEdge Technologies Inc., SOLARMAX GmbH and Sungrow Power Supply Co. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global string inverter market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global string inverter market?
  • What are the key regional markets?
  • What is the breakup of the market based on the connection type?
  • What is the breakup of the market based on the phase?
  • What is the breakup of the market based on the power rating?
  • What is the breakup of the market based on the end use?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global string inverter market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global String Inverter Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Connection Type
    6.1    On-Grid
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Off-Grid
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Phase
    7.1    Single Phase
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Three Phase
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Power Rating
    8.1    Up to 10kW
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    11kW to 40kW
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    41kW to 80kW
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Above 80kW
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by End Use
    9.1    Residential
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Commercial and Industrial
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Utilities
        9.3.1 Market Trends
        9.3.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    ABB Ltd.
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Chint Power Systems
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
        15.3.3    Delta Electronics (Thailand) PCL
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    Fronius International GmbH
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5    Ginlong Technologies Co. Ltd.
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 Financials
        15.3.6    Huawei Technologies Co. Ltd.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
        15.3.7    Schneider Electric SE
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8    Siemens AG
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
           15.3.8.4 SWOT Analysis
        15.3.9    SMA Solar Technology AG
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials
           15.3.9.4 SWOT Analysis
        15.3.10    SolarEdge Technologies Inc.
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
        15.3.11    SOLARMAX GmbH
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
        15.3.12    Sungrow Power Supply Co. Ltd.
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio
           15.3.12.3 Financials

List of Figures

Figure 1: Global: String Inverter Market: Major Drivers and Challenges
Figure 2: Global: String Inverter Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: String Inverter Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: String Inverter Market: Breakup by Connection Type (in %), 2020
Figure 5: Global: String Inverter Market: Breakup by Phase (in %), 2020
Figure 6: Global: String Inverter Market: Breakup by Power Rating (in %), 2020
Figure 7: Global: String Inverter Market: Breakup by End Use (in %), 2020
Figure 8: Global: String Inverter Market: Breakup by Region (in %), 2020
Figure 9: Global: String Inverter (On-Grid) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: String Inverter (On-Grid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: String Inverter (Off-Grid) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: String Inverter (Off-Grid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: String Inverter (Single Phase) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: String Inverter (Single Phase) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: String Inverter (Three Phase) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: String Inverter (Three Phase) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: String Inverter (Up to 10kW) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: String Inverter (Up to 10kW) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: String Inverter (11kW to 40kW) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: String Inverter (11kW to 40kW) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: String Inverter (41kW to 80kW) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: String Inverter (41kW to 80kW) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: String Inverter (Above 80kW) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: String Inverter (Above 80kW) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: String Inverter (Residential) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: String Inverter (Residential) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: String Inverter (Commercial and Industrial) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: String Inverter (Commercial and Industrial) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: String Inverter (Utilities) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: String Inverter (Utilities) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: North America: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: North America: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: United States: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: United States: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Canada: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Canada: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Asia-Pacific: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Asia-Pacific: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: China: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: China: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Japan: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Japan: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: India: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: India: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: South Korea: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: South Korea: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Australia: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Australia: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Indonesia: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Indonesia: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Others: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Others: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Europe: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Europe: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Germany: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Germany: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: France: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: France: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: United Kingdom: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: United Kingdom: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Italy: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Italy: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Spain: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Spain: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Russia: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Russia: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Others: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Others: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Latin America: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Latin America: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Brazil: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Brazil: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Mexico: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Mexico: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Others: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Others: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Middle East and Africa: String Inverter Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Middle East and Africa: String Inverter Market: Breakup by Country (in %), 2020
Figure 79: Middle East and Africa: String Inverter Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 80: Global: String Inverter Industry: SWOT Analysis
Figure 81: Global: String Inverter Industry: Value Chain Analysis
Figure 82: Global: String Inverter Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: String Inverter Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: String Inverter Market Forecast: Breakup by Connection Type (in Million US$), 2021-2026
Table 3: Global: String Inverter Market Forecast: Breakup by Phase (in Million US$), 2021-2026
Table 4: Global: String Inverter Market Forecast: Breakup by Power Rating (in Million US$), 2021-2026
Table 5: Global: String Inverter Market Forecast: Breakup by End Use (in Million US$), 2021-2026
Table 6: Global: String Inverter Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: String Inverter Market: Competitive Structure
Table 8: Global: String Inverter Market: Key Players

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