Global String Inverter Market Overview:
The global market of String Inverter around the world is growing rapidly due to factors such as ease of maintenance, Trusted Technology as well as Lower costs are booming the market of string market.
A string inverter is connected with a string of solar panels, which is called the solar array and each solar panel is connected in series to the string inverters. The inverter combines all the direct current received from each individual solar panel and, at once, converts it into alternating current. Moreover, easy replacement and more flexibility as well as availability are some of the factors which driving the market of string inverter.
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Industry Highlights:
One of the latest evolutions in the inverter industry is three-phase string inverters for the small-to-medium commercial PV market. Now, several manufacturers are offering string inverters with three-phase output, which offers several benefits such as Lower price as well as required less wall space and reduced installation time. Moreover, High Fuel Efficiency, High Quality Electrical Output are some factors spur the market.
Global String Inverter Industry Segmental Analysis:
The report has been segmented on the basis of product, phase, application, and region.
On the basis of product, it includes On-grid, off-grid. On-grid segment is expected to hold the largest share of the string inverter market due to the market of three-phase string inverters, which are being commercialized at a huge scale in Asia-Pacific and Europe.
On the basis of phase, it includes Single, Three. It is referred as largest market owing to rising installations of large utility-scale solar systems in Japan, China, and other European countries.
On the basis of application, it includes Residential, Commercial, Industrial, utilities. The utilities segment is expected to hold the largest share. Utility-scale large projects are improving for renewable integration and accelerating the growth of the string inverter market for the utility segment.
Leading Players Analyzed in the String Inverter Market are :
The major player operating in the global String Inverter Market are SolarMax, Huawei Technologies, Sungrow Power Supply, Fronius International, KOSTAL Solar Electric, Growatt New Energy Technology, Schneider, Ingeteam, Ginlong Technologies, Advanced Energy Industries, KACO New Energy.
String Inverter Regional Industry Outlook:
Based on region, the global string inverter market cover growth opportunities and latest trends across North America, Europe, Asia Pacific, Middle East and Africa and Rest of the World.
Asia-Pacific is expected to be the largest market for string inverters, with China and India being the biggest markets in the region. String inverter market is estimated to dominate the global market during the forecast period, owing to factors such as government targets, policy support, and tenders & competitive bidding in the region.
Geographically, Asia Pacific string inverter market share witness considerable growth on account of increasing clean fuel electricity demand. Moreover, Government has introduced several initiatives including Jawaharlal Nehru National solar mission to encourage solar system adoption. As well as In the U.S., includes Renewable Energy Production Incentives introduced to encourage the adoption of renewable energy technologies which driving the market
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List Of Tables
Table 1 Global String Inverter Market, By Product
Table 2 Global String Inverter Market, By Phase
Table 3 Global String Inverter Market, By Application
Table 4 Global String Inverter Market, By Regions
Table 5 North America String Inverter Market, By Country
Continued…
List Of Figures
Figure 1 Research Type
Figure 2 Global String Inverter Market: By Product (%)
Figure 3 Global String Inverter Market: By Phase (%)
Figure 4 Global String Inverter Market: By Application (%)
Figure 5 Global String Inverter Market: By Region
Continued….
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