According to IMARC Group’s latest report, titled “String Inverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026.’ the global string inverter market reached a value of US$ 3.6 Billion in 2020. A string inverter is a device that is generally used to provide electricity in residential and commercial spaces. It is equipped with a series of solar panels, smart modules and power optimizers that help in converting the energy obtained from the sun into alternative current (AC). It is a cost-effective solution to mitigate the impact of load shading in small utility installations that requires minimal power usages.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The global market is primarily driven by an enhanced focus on sustainable development. This is supported by the widespread adoption of string inverters in an attempt to minimize the impact of carbon footprint, which is creating a positive outlook for the market. Along with this, increasing investments by the governments of numerous countries in the electrification of remote and rural areas is providing a boost to the market growth further. Some of the other factors contributing to the market growth include rapid industrialization and extensive research and development (R&D) activities conducted by key players. Looking forward, IMARC Group expects the market to grow at a CAGR of 8.3% during 2021-2026.
Competitive Landscape:
ABB Ltd.Chint Power SystemsDelta Electronics (Thailand) PCLFronius International GmbHGinlong Technologies Co. Ltd.Huawei Technologies Co. Ltd.Schneider Electric SESiemens AGSMA Solar Technology AGSolarEdge Technologies Inc.SOLARMAX GmbHSungrow Power Supply Co. Ltd.Key Market Segmentation:
Breakup by Connection Type:
On-GridOff-GridBreakup by Phase:
Single PhaseThree PhaseBreakup by Power Rating:
Up to 10kW11kW to 40kW41kW to 80kWAbove 80kWBreakup by End Use:
ResidentialCommercial and IndustrialUtilitiesBreakup by Region:
North America (United States, Canada)Europe (Germany, France, United Kingdom, Italy, Spain, Others)Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)Latin America (Brazil, Mexico, Others)Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/string-inverter-market
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Key highlights of the report:
Market Performance (2015-2020)Market Outlook (2021-2026)Market TrendsMarket Drivers and Success FactorsThe Impact of COVID-19 on the Global MarketValue Chain AnalysisStructure of the Global MarketComprehensive mapping of the competitive landscapeIf you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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