Albany, NY -- (SBWIRE) -- 02/24/2017 -- Global String Inverter Market: Overview

String inverters are increasingly being used in ground power plants due to their advantages of higher electricity yield, no equipment room, simpler operation and maintenance, smaller carbon footprint, and more reliable operation. With diminishing coal and petroleum resources and the increasing importance of environmental protection worldwide, the use of renewable resources based grid-tied power generation technologies are becoming a global focus. In particular, in photovoltaic inverters (PV) in solar power plants, string inverters are reliable due to their low heat dissipation characteristic, which is predominantly important for determining the reliability of the PV system.

The report provides an in-depth analysis of the global string inverter market for the 2017-2025 period based on market drivers, market challenges, and opportunities. The report also strategically analyzes the string inverter market with reference to individual growth trends of product manufacturers and service providers, their growth strategies and contribution to the overall market.

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The report analyzes the global string inverter market from a competitive standpoint as well. The top players in the market are mentioned and are profiled for their distinguishing competitive attributes. The current competitive structure and how it is expected to change by the end of the forecast period is presented as well in the report.

Global String Inverter Market: Drivers

The growth of the string inverter market is attributed to factors such as easy installation and customization, drop in balance of system cost, and for removing system monitoring capabilities. Other than these, string inverters not only allow converting DC to AC power but are also capable for high voltage DC inputs. This is further boosting the market's growth.

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Global String Inverter Market: Market Segmentation

The global string inverter market can be segmented on the basis of end-user, system type, power rating, phase, and geography. In terms of end-user, the market can be divided into the segments of commercial and industrial, residential, and utilities. Utilities is expected to be the largest end-user due to the increasing solar power production. On the basis of system type, on-grid is expected to dominate the global string inverter market until the end of the forecast period. Based on power rating, the market can be divided into 10 kW, 11-40 kW, 41-80 kW, and above 80 kW. Amongst these, the 41-80 kW segment is expected to lead the market as they are compact and light weight, thus provide enhanced design flexibility for PV plants of varied sizes and provide higher level of protection and enhanced durability in harsh outdoor environments.

On the basis of phase, single-phase and three-phase are the segments of the market; of the two, three-phase is expected to lead the market due to the increasing installation of solar power systems in utilities in China, Japan, and other European countries.

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Global String Inverter Market: Regional Outlook

The global string inverter market can be divided into the regional segments of the Americas, the Middle East and Africa, and Asia Pacific. Amongst these, Asia Pacific is expected to hold the dominant position in the global market during the forecast period due to government initiatives for solar power generation, incentives such as feed-in-tariffs, policy support, and tenders and competitive bidding. On the other hand, the Americas is expected to be the fastest growing string inverter market among other regions.

Major Companies Mentioned in Report

Some of the leading companies that operate in the global string inverter market are KACO New Energy GmbH, ABB Limited, Ningbo Ginlong Technologies, Fronius International GmbH, Huawei Technologies Co. Ltd., Delta Energy Systems GmbH, Chint Power Systems Co. Ltd., Samil Power Co. Ltd, and SMA Solar Technology.

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