Market Synopsis of String inverter Market
Each installations requires a mean of conversion from DC to AC such as solar inverter systems, which facilitate generated electricity to be fed into the power grid. Rising demand for continuous and reliable power sources as well as easy installation & customization are some of the factors which drives the market of string inventor. String inverters are used in residential, commercial & industrial, and utilities. Increasing consumption of solar energy across the world is referred as one of the major driving factor for the market. The string inverter market is expected to be driven by decreased cost, removing systems monitoring capabilities. Moreover, Reliability, accessibility and high efficiency will propel global string inventor’s market share in the forecasted period. Increasing renewable integration in Utility scale large projects is further accelerating the growth of string inverters market. On the other hand, heat loss due to the large size of the inverter is acts as a major restraint of the global string inverter market
The major player operating in the market of Global String inverter 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.
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The recently held ‘Solar Power International’ in 2017 was a massive success. In this event, products, XGI 1500V utility and XGI 1000V commercial inverters were launched. They stole the limelight and were the first ‘Solectria’ products made at a Buffalo Grove, IL facility. These products are expected to prove their remarkable abilities and serve as pioneers to further developments.
With respect to products, on-grid dominated in 2015. On-grid products find wide usage in medium to small scale manufacturing & commercial end-users. The same factor is boosting the sales of three phase string inverters. Three phase products are facing high-scale commercialization across Europe and Asia Pacific.
Among applications, utilities are predicted to occupy the largest shares in the near future. Big utility scale projects are on the rise, considering the incorporation of renewable policies. On islands, energy storage systems adopt string inverters to deliver the best results.
Asia pacific will be the largest market
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.
TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.3 MARKET STRUCTURE:
1.3.1 GLOBAL STRING INVERTER MARKET: BY PRODUCT
1.3.2 GLOBAL STRING INVERTER MARKET: BY PHASE
1.3.3 GLOBAL STRING INVERTER MARKET: BY APPLICATION
1.3.5 GLOBAL STRING INVERTER MARKET: BY REGION
2 RESEARCH METHODOLOGY
2.1 RESEARCH TYPE
2.2 PRIMARY RESEARCHPT
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
2.4.3 MARKET CRACKDOWN & DATA TRIANGULATION
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3 MARKET DYNAMICS
3.2 MARKET DRIVERS
3.3 MARKET CHALLENGES
3.4 MARKET OPPORTUNITIES
4 EXECUTIVE SUMMARY
5. MARKET FACTOR ANALYSIS
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