Global String Inverter Market Size study & Forecast, by Connection Type (On-Grid, Off-Grid) By Phase (Single, Three) By End Use Industry (Residential, Commercial & Industrial, Utilities) and Regional Analysis, 2022-2029

Description

List of Tables

Global String Inverter Market is valued at approximately USD 10.75 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2022-2029. A string inverter is a crucial component of a solar power system that transforms the DC electricity coming from solar panels into the AC power required for the home's electrical needs. The String Inverter market is expanding because of factors such as increasing development in the renewable energy sector and growing solar power-based industrial applications.

Additionally, apart from conversion, string inverters perform voltage tracking, grid-connected communication, and even shut down during emergency situations. Its prevalence has progressively increased during the last few decades. According to the Group Next Move Strategy Consulting, the market will reach over USD 2 trillion by 2030. Furthermore, in 2021, the global installed capacity of renewable power surpassed three terawatts, approximately 1.2 terawatts of which were derived from hydropower. According to Statista, in 2021, renewable energy production worldwide amounted to nearly 7.5 petawatt hours. Another important component driving space is increasing solar power-based industrial applications. As per Statista in 2024, solar PV demand is expected to total 125.2 gigawatts around the world. In addition, the global solar energy market is expected to reach 422 billion U.S. dollars in 2022. China and the United States were two of the largest solar markets in the world, driving a large portion of global solar demand. Also, increasing government initiatives in the electrification of rural and remote areas and rising solar installations would create a lucrative growth prospectus for the market over the forecast period However, the high heat loss of String Inverter stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global String Inverter Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific dominated the market in terms of revenue, owing to the presence of key players and a huge consumer base in the region. In addition, there is a rise in urbanization and industrialization in the region. According to Statista, In, 2022, the annual electricity generation from solar photovoltaics in the Asia Pacific region was around 726.1 terawatt hours. Electricity generation from solar photovoltaics saw an increase in 2022 compared to the previous year, wherein the value was around 581.3 terawatt hours. Furthermore, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing adoption of battery energy storage systems and rising product usage in different sectors including commercial, utility, and residential in the market space.

Major market players included in this report are:

FIMER S.p.A
Chint Group
Delta Electronics Public Co., Ltd
SolarMax GmbH
Growatt New Energy Technology Co., Ltd
Huawei Technologies Co., Ltd
SIEMENS AG
Ginlong Technologies
SolarEdge Technologies Ltd
SMA Solar Technology AG

Recent Developments in the Market:

In February 2023, SolarEdge Technologies, Inc announced the launch of its first Battery Virtual Power Plant supporting Great Britain's National Grid ESO Demand Flexibility Service It is available to thousands of SolarEdge Home Battery owners across Great Britain with eligible smart meters, that are now able to earn financial incentives utilizing their stored battery energy during DFS peak demand events, which helps in stabilizing the grid.

Global String Inverter Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Connection Type, Phase, End-Use Industry

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.

By Connection Type

On-Grid
Off-Grid

By Phase

Single
Three

By End Use Industry

Residential
Commercial & Industrial
Utilities

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. String Inverter Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. String Inverter Market, by Connection Type, 2019-2029 (USD Billion)
- 1.2.3. String Inverter Market, by Phase, 2019-2029 (USD Billion)
- 1.2.4. String Inverter Market, by End Use Industry, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global String Inverter Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global String Inverter Market Dynamics

3.1. String Inverter Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increasing development in the renewable energy sector
  - 3.1.1.2. Growing solar power-based industrial applications.
- 3.1.2. Market Challenges
  - 3.1.2.1. High heat loss in String Inverter
- 3.1.3. Market Opportunities
  - 3.1.3.1. Increasing government initiatives in the electrification of rural and remote areas
  - 3.1.3.2. Rising solar installations.

Chapter 4. Global String Inverter Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Risk Assessment: COVID-19 Impact

5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario

Chapter 6. Global String Inverter Market, by Connection Type

6.1. Market Snapshot
6.2. Global String Inverter Market by Connection Type, Performance - Potential Analysis
6.3. Global String Inverter Market Estimates & Forecasts by Connection Type 2019-2029 (USD Billion)
6.4. String Inverter Market, Sub Segment Analysis
- 6.4.1. On-Grid
- 6.4.2. Off-Grid

Chapter 7. Global String Inverter Market, by Phase

7.1. Market Snapshot
7.2. Global String Inverter Market by Phase, Performance - Potential Analysis
7.3. Global String Inverter Market Estimates & Forecasts by Phase 2019-2029 (USD Billion)
7.4. String Inverter Market, Sub Segment Analysis
- 7.4.1. Single
- 7.4.2. Three

Chapter 8. Global String Inverter Market, by End Use Industry

8.1. Market Snapshot
8.2. Global String Inverter Market by End Use Industry, Performance - Potential Analysis
8.3. Global String Inverter Market Estimates & Forecasts by End Use Industry 2019-2029 (USD Billion)
8.4. String Inverter Market, Sub Segment Analysis
- 8.4.1. Residential
- 8.4.2. Commercial & Industrial
- 8.4.3. Utilities

Chapter 9. Global String Inverter Market, Regional Analysis

9.1. String Inverter Market, Regional Market Snapshot
9.2. North America String Inverter Market
- 9.2.1. U.S. String Inverter Market
  - 9.2.1.1. Connection Type breakdown estimates & forecasts, 2019-2029
  - 9.2.1.2. Phase breakdown estimates & forecasts, 2019-2029
  - 9.2.1.3. End Use Industry breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada String Inverter Market
9.3. Europe String Inverter Market Snapshot
- 9.3.1. U.K. String Inverter Market
- 9.3.2. Germany String Inverter Market
- 9.3.3. France String Inverter Market
- 9.3.4. Spain String Inverter Market
- 9.3.5. Italy String Inverter Market
- 9.3.6. Rest of Europe String Inverter Market
9.4. Asia-Pacific String Inverter Market Snapshot
- 9.4.1. China String Inverter Market
- 9.4.2. India String Inverter Market
- 9.4.3. Japan String Inverter Market
- 9.4.4. Australia String Inverter Market
- 9.4.5. South Korea String Inverter Market
- 9.4.6. Rest of Asia Pacific String Inverter Market
9.5. Latin America String Inverter Market Snapshot
- 9.5.1. Brazil String Inverter Market
- 9.5.2. Mexico String Inverter Market
- 9.5.3. Rest of Latin America String Inverter Market
9.6. Rest of The World String Inverter Market

Chapter 10. Competitive Intelligence

10.1. Top Market Strategies
10.2. Company Profiles
- 10.2.1. Fimer S.p.A
  - 10.2.1.1. Key Information
  - 10.2.1.2. Overview
  - 10.2.1.3. Financial (Subject to Data Availability)
  - 10.2.1.4. Product Summary
  - 10.2.1.5. Recent Developments
- 10.2.2. Chint Group
- 10.2.3. Delta Electronics Public Co., Ltd
- 10.2.4. SolarMax GmbH
- 10.2.5. Growatt New Energy Technology Co., Ltd
- 10.2.6. Huawei Technologies Co., Ltd
- 10.2.7. SIEMENS AG
- 10.2.8. Ginlong Technologies
- 10.2.9. SolarEdge Technologies Ltd
- 10.2.10. SMA Solar Technology AG

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

LIST OF TABLES

TABLE 1. Global String Inverter Market, report scope
TABLE 2. Global String Inverter Market estimates & forecasts by Region 2019-2029 (USD Billion)
TABLE 3. Global String Inverter Market estimates & forecasts by Connection Type 2019-2029 (USD Billion)
TABLE 4. Global String Inverter Market estimates & forecasts by Phase 2019-2029 (USD Billion)
TABLE 5. Global String Inverter Market estimates & forecasts by End Use Industry 2019-2029 (USD Billion)
TABLE 6. Global String Inverter Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 7. Global String Inverter Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 8. Global String Inverter Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 9. Global String Inverter Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 10. Global String Inverter Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 11. Global String Inverter Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 12. Global String Inverter Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 13. Global String Inverter Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 14. Global String Inverter Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 15. Global String Inverter Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 16. U.S. String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 17. U.S. String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 18. U.S. String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 19. Canada String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 20. Canada String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 21. Canada String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 22. UK String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 23. UK String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 24. UK String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 25. Germany String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 26. Germany String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 27. Germany String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 28. France String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 29. France String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 30. France String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 31. Italy String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 32. Italy String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 33. Italy String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 34. Spain String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 35. Spain String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 36. Spain String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 37. RoE String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 38. RoE String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 39. RoE String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 40. China String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 41. China String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 42. China String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 43. India String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 44. India String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 45. India String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 46. Japan String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 47. Japan String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 48. Japan String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 49. South Korea String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 50. South Korea String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 51. South Korea String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 52. Australia String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 53. Australia String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 54. Australia String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 55. RoAPAC String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 56. RoAPAC String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 57. RoAPAC String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 58. Brazil String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 59. Brazil String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 60. Brazil String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 61. Mexico String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 62. Mexico String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 63. Mexico String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 64. RoLA String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 65. RoLA String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 66. RoLA String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 67. Row String Inverter Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 68. Row String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 69. Row String Inverter Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global String Inverter Market
TABLE 71. List of primary sources, used in the study of global String Inverter Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

List of figures

FIG 1. Global String Inverter Market, research methodology
FIG 2. Global String Inverter Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global String Inverter Market, key trends 2021
FIG 5. Global String Inverter Market, growth prospects 2022-2029
FIG 6. Global String Inverter Market, porters 5 force model
FIG 7. Global String Inverter Market, pest analysis
FIG 8. Global String Inverter Market, value chain analysis
FIG 9. Global String Inverter Market by segment, 2019 & 2029 (USD Billion)
FIG 10. Global String Inverter Market by segment, 2019 & 2029 (USD Billion)
FIG 11. Global String Inverter Market by segment, 2019 & 2029 (USD Billion)
FIG 12. Global String Inverter Market by segment, 2019 & 2029 (USD Billion)
FIG 13. Global String Inverter Market by segment, 2019 & 2029 (USD Billion)
FIG 14. Global String Inverter Market, regional snapshot 2019 & 2029
FIG 15. North America String Inverter Market 2019 & 2029 (USD Billion)
FIG 16. Europe String Inverter Market 2019 & 2029 (USD Billion)
FIG 17. Asia pacific String Inverter Market 2019 & 2029 (USD Billion)
FIG 18. Latin America String Inverter Market 2019 & 2029 (USD Billion)
FIG 19. Global String Inverter Market, company Market share analysis (2021)