Raipur, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the String Inverter Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the String Inverter market is driven by a host of factors, some of which are noted below:
- Multiple government initiatives to accelerate the adoption of sustainable energy.
- Decreasing component prices due to favorable tax benefit considerations.
- Upgradation of primitive technologies paired with volume manufacturing practices leading to significant reduction in the overall component prices.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
String Inverter Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Power Class (Single Phase and Three Phase),
- By Connectivity Type (Stand-alone and On-grid),
- By Application Type (Residential, Commercial Industrial and Utility),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World).
String Inverter Market Insights
Market Trends Power Class Type
Single-phase string inverters are projected to witness a strong growth rate in the market owing to their effective operational feasibility, due to which they are gaining traction in residential and small commercial establishments.
In addition, some positive regulatory prospects such as feed-in tariff schemes are expected to drive product demand during the forecast period. On the other hand, three-phase string inverters are expected to benefit from factors such as low cost, absence of inverter subpanel, and compact size over the forecast period. Three phases string inverter type is further categorized as Low Power ≤99 kW and High Power >99 kW.
Market Trends by Nominal Output Power Type
The ≤500W nominal output power type segment is expected to lead the market during the forecast period. The growth of the segment is bolstered by its significant progress across small-scale photovoltaic applications.
Which region offers the best opportunity and growth?
North America is estimated to be the leading region in the market for string inverters during the forecast period. The region’s growth is driven by the growth in the U.S. market along with the federal norms to achieve a clean economy structure by reducing the impact of harmful emissions and increasing the focus on energy conservation.
On the other hand, the Asia-Pacific market is likely to be positively influenced over the forecast period with China and India being the growth engines offering promising growth opportunities. Europe is also expected to offer substantial growth opportunities during the forecast period
COVID-19 Impact on the String Inverter Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/1782/string-inverter-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- Elettronica Santerno
- Fronius International GmbH
- Ginlong Technologies
- GoodWe
- REFU
- SatCon Technology Corporation
- Schneider Electric
- SMA Solar Technology AG
- Sungrow Power Supply Co., Ltd
- TBEA Co., Ltd.
What deliverables will you get in this report?
- In-depth analysis of the String Inverter Market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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