The global "String Inverter Market" is projected to grow at a CAGR of 8.29% from 2016 to 2021, to reach a market size of USD 3.89 Billion by 2021. The growth is attributed to decrease balance of system cost, remove systems monitoring capabilities, and easy installation & customization.
Utilities segment is the largest end-user of string inverter owing to growing number of utilities in the solar sector, serving both, the distributed solar market as well as building and operating large-scale PV power plants. Based on system type, the on-grid segment is expected to dominate the string inverter market during the forecast period. The market has also been segmented based on power rating into four segments: up to 10 kW, 11 kW – 40 kW, 41 kW – 80 kW, and above 80 kW.
The report segments the string inverter market based on phase into single-phase and three-phase. The latter is estimated to be the largest market owing to rising installations of large utility-scale solar systems in Japan, China, and other European countries. Inverter manufacturers have been strongly promoting the installation of three-phase string inverters in large power plants, due to which the global shipments are projected to double in the next 4 years.
Asia-Pacific is the largest market for string inverter
In this report, the string inverter market has been analyzed with respect to four regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. Asia-Pacific is estimated to be the largest market for string inverter till 2021. Government targets, policy support (tax incentives and RPOs), incentives such as feed-in tariffs and tenders, and competitive bidding in the region will drive the Asia-Pacific sting inverter market from 2016 to 2021.
 |
| Download PDF Brochure |
Early buyers will receive 10% customization on reports.
On-grid segment is expected to hold the largest share of the string inverter market, by system type, during the forecast period
The on-grid segment led the overall string inverter market in 2015. On-grid systems are applied mostly in small-to-medium scale commercial & industrial, and large utility-scale solar applications. This is driving the market of three-phase string inverters, which are being commercialized at a huge scale in Asia-Pacific and Europe.
Utilities are expected to hold the largest market share of the string inverter market, by end-users, during the forecast period
The utilities segment is expected to hold the largest share the string inverter market during the forecast period. Utility-scale large projects are improving given regulations for renewable integration, while accelerating the growth of the string inverter market for the utility segment. On islands, string inverter in utility-based solar systems, integrated with energy storage systems, is expected to grab areas with high level of penetration of renewable energy.
Target Stakeholder:
- String inverter manufacturers, dealers, and suppliers
- String inverter equipment manufacturing companies
- Government and research organizations
- Environmental and industrial associations
- Banks, venture capitalists, financial institutions, and other investors
- Market research and consulting firms
Scope of the Report:
- By System type
- On-Grid
- Off-Grid
- By Phase
- Single-Phase
- Three-Phase
- By End–Users
- Residential
- Commercial & Industrial
- Utilities
- By Power Rating
- Up to 10 kW
- 11 kW – 40 kw
- 41 kW – 80 kW
- Above 80 kW
- By Region
- Americas
- Europe
- Asia-Pacific
- Middle East & Africa
Some of the leading players in the string inverter market include KACO New Energy GmbH (Germany), Delta Energy Systems GmbH (Germany), ABB Limited (Switzerland), Chint Power Systems Co., Ltd. (China), Ningbo Ginlong Technologies (China), Samil Power Co., Ltd. (China), Fronius International GmbH (Austria), SMA Solar Technology AG (Germany), and Huawei Technologies Co. Ltd. (China), among others.
Lighting products are vital for people's livelihood and growth of the country's economy. China LED lighting market is forecasted to be US$ 29 Billion according to the research report published by Renub Research. China has become a global leader in the production and consumption of lighting products, and the Chinese lighting industry has propagated over the last two decades. China's economy continues to grow, and continuous improvement in the living standard of China's middle class creates a massive demand for household products like led lights. Rapid urbanization and local energy saving targets and reduction in the price are also appealing for China LED lighting market. China's Ministry of Finance (MOF) and the National Development and Reform Commission (NDRC) is also promoting high-efficiency LED lighting products by looking after interim measures on administration of financial subsidies.
ReplyDeleteChina LED lighting market