String Inverter Market to grow at a Steady Rate through 2026
Rise in demand for sustainable energy and rural
electrification in emerging economies are expected to drive the demand for global
string inverter market in forecast period.
According to TechSci Research report, “Global String
Inverter Market By Phase (Single and Three), By System Type (On-Grid and
Off-Grid), By Power Rating (Up to 10kW, 11kW–40kW, 41kW–80kW, and Above 80kW),
By End-User (Residential, Commercial & Industrial, and Utilities), By
Company, By Region, Forecast & Opportunities, 2026”, is expected to witness
robust growth in the next five years owing to rise in demand for reliable and
continuous energy source and installation along with long scale utility
projects. Stringent government policies for adoption of solar energy are
another factor fueling the Global String Inverter Market growth. Tax benefits
associated with Global String Inverter Market associated with adoption of solar
energy and reduction in the component costs are the other factors contributing
to the global string inverter market.
However, large size of the inverter results in higher
heat loss and availability of alternate energy sources may create hindrance in
the global string inverter market growth.
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String Inverter Market”
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Global String Inverter Market is
segmented by phase, system type, power rating, end-user, region, and company. Based
on phase, market is categorized into single phase and three phase market.
Single phase is expected to play a major role in the growth of Global String
Inverter Market. Increase in installation in residential and commercial
establishments is fueling the growth for the Global String Inverter Market.
High operational feasibility over its counterpart is another factor aiding in
the market growth. Based on system type, market is bifurcate into on grid and
off-grid market. On grid is dominating the global string inverter market owing
to huge applications in small to medium commercial and industrial and
large-scale utility projects. Based on power rating the market is divided into
up to 10kW, 11kW–40kW, 41kW–80kW, and above 80kW. 41kW–80kW is anticipated to
hold significant role in the global string inverter market growth. They provide
reliability of energy production and is compact in size and comprises of lower
weight compared to its counterparts. Based on end-user, market is segregated
into residential, commercial & industrial, and utilities. Utilities segment
is expected to hold largest share in global string inverter market owing to
diverse applications in solar sector, buildings and operating photovoltaic
power stations.
KACO New Energy GmbH, Delta Energy Systems GmbH,
ABB Limited, Fronius International GmbH, SMA Solar Technology AG, Huawei
Technologies Co. Ltd, Solaredge Technologies, Inc., Growatt New Energy
Technology Co., Ltd., Ginlong Technologies, Solarmax Group are the leading players operating in global string
inverter market. Manufacturers are increasingly focusing on research and
development process to fuel higher growth in the market. To meet evolving
customer demand with respect to better efficiency and durability, several string
inverter manufacturers are coming up with their technologically advanced
offerings.
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“Refurbishment
of the existing energy infrastructure and integration of renewable energy
resources on a broader scale is influencing the market growth of the string
inverter market. Rapid industrialization
across the globe has surged the energy requirement needs. Also, to fulfill the
emission target and reduce impact of the environment, implementation of the
string inverter with energy network is expected to boost the market growth till
2026” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global
String Inverter Market By Phase (Single and Three), By System Type (On-Grid and
Off-Grid), By Power Rating (Up to 10kW, 11kW–40kW, 41kW–80kW, and Above 80kW),
By End-User (Residential, Commercial & Industrial, and Utilities), By
Company, By Region, Forecast & Opportunities, 2026” has
evaluated the future growth potential of global string inverter market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of global string
inverter market.
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