String Inverter Market Dynamics 2021-2031
A String Inverter is an inverter which is connected to a series of solar panels which combines all the direct current (DC) received from all the individual solar panels and converts it into alternating current (AC). Most commonly, string inverters are used in residential and commercial applications, but are increasingly used in small utility projects across the globe.
MARKET SCOPE
The "Global String Inverter Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on global market trend analysis. The report aims to provide an overview of the String Inverter Market with detailed market segmentation by system type, by phase, by end use and by region. The String Inverter Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading String Inverter Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The String Inverter Market has been segmented into by system type, by phase, and by end use. By system type the market has been bifurcated into on-grid and off-grid. By phase the market has been bifurcated into single phase and three phase. By end use the market has been bifurcated into residential, commercial, industrial and utilities.
MARKET DYNAMICS
Growth Factors
Restraints
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The String Inverter Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the String Inverter Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the String Inverter Market in these regions.
Impact of Covid-19 on String Inverter Market
The Covid-19 pandemic had a significant impact on the String Inverter Market. Due to the rise in the covid-19 cases and restrictions and lockdowns imposed the market was adversely affected. There was a delay in the manufacturing of new inverters due to lockdown and availability of raw materials which has negatively affected the market to an extent. Lockdowns and travel restrictions imposed by governments disrupted the global supply chain, which ultimately impacted the production of current transformers. Since 2021, after the restrictions have started lifting the String Inverter Market is expected to show a steady growth in the coming years.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The String Inverter Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the String Inverter Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the String Inverter Market in these regions.
Impact of Covid-19 on String Inverter Market
The Covid-19 pandemic had a significant impact on the String Inverter Market. Due to the rise in the covid-19 cases and restrictions and lockdowns imposed the market was adversely affected. There was a delay in the manufacturing of new inverters due to lockdown and availability of raw materials which has negatively affected the market to an extent. Lockdowns and travel restrictions imposed by governments disrupted the global supply chain, which ultimately impacted the production of current transformers. Since 2021, after the restrictions have started lifting the String Inverter Market is expected to show a steady growth in the coming years.
MARKET PLAYERS
The report covers vital developments in the String Inverter Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the String Inverter Market are anticipated to have lucrative growth opportunities in the future with the rising demand for String Inverter Market. Below mentioned is the list of a few companies engaged in the String Inverter Market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the String Inverter Market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Siemens AG
- Huawei Technologies Co. Ltd.
- SMA Solar Technology AG
- Ningbo Ginlong Technologies
- ABB Limited
- KACO New Energy Gmbh
- Delta Energy Systems Gmbh
- SolarMax
- Chint group
- FIMER S.p.A
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1String Inverter Market - By System Type
1.3.2String Inverter Market - By Phase
1.3.3String Inverter Market - By End Use
1.3.4String Inverter Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.STRING INVERTER MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.STRING INVERTER MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.STRING INVERTER MARKET - GLOBAL MARKET ANALYSIS
6.1.STRING INVERTER - GLOBAL MARKET OVERVIEW
6.2.STRING INVERTER - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING
7.STRING INVERTER MARKET - REVENUE AND FORECASTS TO 2028 " SYSTEM TYPE
7.1.OVERVIEW
7.2.SYSTEM TYPE MARKET FORECASTS AND ANALYSIS
7.3.ON-GRID
7.3.1.Overview
7.3.2.On-Grid Market Forecast and Analysis
7.4.OFF-GRID
7.4.1.Overview
7.4.2.Off-Grid Market Forecast and Analysis
8.STRING INVERTER MARKET - REVENUE AND FORECASTS TO 2028 " PHASE
8.1.OVERVIEW
8.2.PHASE MARKET FORECASTS AND ANALYSIS
8.3.SINGLE PHASE
8.3.1.Overview
8.3.2.Single Phase Market Forecast and Analysis
8.4.THREE PHASE
8.4.1.Overview
8.4.2.Three Phase Market Forecast and Analysis
9.STRING INVERTER MARKET - REVENUE AND FORECASTS TO 2028 " END USE
9.1.OVERVIEW
9.2.END USE MARKET FORECASTS AND ANALYSIS
9.3.RESIDENTIAL
9.3.1.Overview
9.3.2.Residential Market Forecast and Analysis
9.4.COMMERCIAL
9.4.1.Overview
9.4.2.Commercial Market Forecast and Analysis
9.5.INDUSTRIAL
9.5.1.Overview
9.5.2.Industrial Market Forecast and Analysis
9.6.UTILITIES
9.6.1.Overview
9.6.2.Utilities Market Forecast and Analysis
10.STRING INVERTER MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America String Inverter Market Overview
10.1.2North America String Inverter Market Forecasts and Analysis
10.1.3North America String Inverter Market Forecasts and Analysis - By System Type
10.1.4North America String Inverter Market Forecasts and Analysis - By Phase
10.1.5North America String Inverter Market Forecasts and Analysis - By End Use
10.1.6North America String Inverter Market Forecasts and Analysis - By Countries
10.1.6.1United States String Inverter Market
10.1.6.1.1United States String Inverter Market by System Type
10.1.6.1.2United States String Inverter Market by Phase
10.1.6.1.3United States String Inverter Market by End Use
10.1.6.2Canada String Inverter Market
10.1.6.2.1Canada String Inverter Market by System Type
10.1.6.2.2Canada String Inverter Market by Phase
10.1.6.2.3Canada String Inverter Market by End Use
10.1.6.3Mexico String Inverter Market
10.1.6.3.1Mexico String Inverter Market by System Type
10.1.6.3.2Mexico String Inverter Market by Phase
10.1.6.3.3Mexico String Inverter Market by End Use
10.2.EUROPE
10.2.1Europe String Inverter Market Overview
10.2.2Europe String Inverter Market Forecasts and Analysis
10.2.3Europe String Inverter Market Forecasts and Analysis - By System Type
10.2.4Europe String Inverter Market Forecasts and Analysis - By Phase
10.2.5Europe String Inverter Market Forecasts and Analysis - By End Use
10.2.6Europe String Inverter Market Forecasts and Analysis - By Countries
10.2.6.1Germany String Inverter Market
10.2.6.1.1Germany String Inverter Market by System Type
10.2.6.1.2Germany String Inverter Market by Phase
10.2.6.1.3Germany String Inverter Market by End Use
10.2.6.2France String Inverter Market
10.2.6.2.1France String Inverter Market by System Type
10.2.6.2.2France String Inverter Market by Phase
10.2.6.2.3France String Inverter Market by End Use
10.2.6.3Italy String Inverter Market
10.2.6.3.1Italy String Inverter Market by System Type
10.2.6.3.2Italy String Inverter Market by Phase
10.2.6.3.3Italy String Inverter Market by End Use
10.2.6.4Spain String Inverter Market
10.2.6.4.1Spain String Inverter Market by System Type
10.2.6.4.2Spain String Inverter Market by Phase
10.2.6.4.3Spain String Inverter Market by End Use
10.2.6.5United Kingdom String Inverter Market
10.2.6.5.1United Kingdom String Inverter Market by System Type
10.2.6.5.2United Kingdom String Inverter Market by Phase
10.2.6.5.3United Kingdom String Inverter Market by End Use
10.2.6.6Russia String Inverter Market
10.2.6.6.1Russia String Inverter Market by System Type
10.2.6.6.2Russia String Inverter Market by Phase
10.2.6.6.3Russia String Inverter Market by End Use
10.2.6.7Rest of Europe String Inverter Market
10.2.6.7.1Rest of Europe String Inverter Market by System Type
10.2.6.7.2Rest of Europe String Inverter Market by Phase
10.2.6.7.3Rest of Europe String Inverter Market by End Use
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific String Inverter Market Overview
10.3.2Asia-Pacific String Inverter Market Forecasts and Analysis
10.3.3Asia-Pacific String Inverter Market Forecasts and Analysis - By System Type
10.3.4Asia-Pacific String Inverter Market Forecasts and Analysis - By Phase
10.3.5Asia-Pacific String Inverter Market Forecasts and Analysis - By End Use
10.3.6Asia-Pacific String Inverter Market Forecasts and Analysis - By Countries
10.3.6.1Australia String Inverter Market
10.3.6.1.1Australia String Inverter Market by System Type
10.3.6.1.2Australia String Inverter Market by Phase
10.3.6.1.3Australia String Inverter Market by End Use
10.3.6.2China String Inverter Market
10.3.6.2.1China String Inverter Market by System Type
10.3.6.2.2China String Inverter Market by Phase
10.3.6.2.3China String Inverter Market by End Use
10.3.6.3India String Inverter Market
10.3.6.3.1India String Inverter Market by System Type
10.3.6.3.2India String Inverter Market by Phase
10.3.6.3.3India String Inverter Market by End Use
10.3.6.4Japan String Inverter Market
10.3.6.4.1Japan String Inverter Market by System Type
10.3.6.4.2Japan String Inverter Market by Phase
10.3.6.4.3Japan String Inverter Market by End Use
10.3.6.5South Korea String Inverter Market
10.3.6.5.1South Korea String Inverter Market by System Type
10.3.6.5.2South Korea String Inverter Market by Phase
10.3.6.5.3South Korea String Inverter Market by End Use
10.3.6.6Rest of Asia-Pacific String Inverter Market
10.3.6.6.1Rest of Asia-Pacific String Inverter Market by System Type
10.3.6.6.2Rest of Asia-Pacific String Inverter Market by Phase
10.3.6.6.3Rest of Asia-Pacific String Inverter Market by End Use
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa String Inverter Market Overview
10.4.2Middle East and Africa String Inverter Market Forecasts and Analysis
10.4.3Middle East and Africa String Inverter Market Forecasts and Analysis - By System Type
10.4.4Middle East and Africa String Inverter Market Forecasts and Analysis - By Phase
10.4.5Middle East and Africa String Inverter Market Forecasts and Analysis - By End Use
10.4.6Middle East and Africa String Inverter Market Forecasts and Analysis - By Countries
10.4.6.1South Africa String Inverter Market
10.4.6.1.1South Africa String Inverter Market by System Type
10.4.6.1.2South Africa String Inverter Market by Phase
10.4.6.1.3South Africa String Inverter Market by End Use
10.4.6.2Saudi Arabia String Inverter Market
10.4.6.2.1Saudi Arabia String Inverter Market by System Type
10.4.6.2.2Saudi Arabia String Inverter Market by Phase
10.4.6.2.3Saudi Arabia String Inverter Market by End Use
10.4.6.3U.A.E String Inverter Market
10.4.6.3.1U.A.E String Inverter Market by System Type
10.4.6.3.2U.A.E String Inverter Market by Phase
10.4.6.3.3U.A.E String Inverter Market by End Use
10.4.6.4Rest of Middle East and Africa String Inverter Market
10.4.6.4.1Rest of Middle East and Africa String Inverter Market by System Type
10.4.6.4.2Rest of Middle East and Africa String Inverter Market by Phase
10.4.6.4.3Rest of Middle East and Africa String Inverter Market by End Use
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America String Inverter Market Overview
10.5.2South and Central America String Inverter Market Forecasts and Analysis
10.5.3South and Central America String Inverter Market Forecasts and Analysis - By System Type
10.5.4South and Central America String Inverter Market Forecasts and Analysis - By Phase
10.5.5South and Central America String Inverter Market Forecasts and Analysis - By End Use
10.5.6South and Central America String Inverter Market Forecasts and Analysis - By Countries
10.5.6.1Brazil String Inverter Market
10.5.6.1.1Brazil String Inverter Market by System Type
10.5.6.1.2Brazil String Inverter Market by Phase
10.5.6.1.3Brazil String Inverter Market by End Use
10.5.6.2Argentina String Inverter Market
10.5.6.2.1Argentina String Inverter Market by System Type
10.5.6.2.2Argentina String Inverter Market by Phase
10.5.6.2.3Argentina String Inverter Market by End Use
10.5.6.3Rest of South and Central America String Inverter Market
10.5.6.3.1Rest of South and Central America String Inverter Market by System Type
10.5.6.3.2Rest of South and Central America String Inverter Market by Phase
10.5.6.3.3Rest of South and Central America String Inverter Market by End Use
11.INDUSTRY LANDSCAPE
11.1.MERGERS AND ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12.STRING INVERTER MARKET, KEY COMPANY PROFILES
12.1.SIEMENS AG
12.1.1.Key Facts
12.1.2.Business Description
12.1.3.Products and Services
12.1.4.Financial Overview
12.1.5.SWOT Analysis
12.1.6.Key Developments
12.2.HUAWEI TECHNOLOGIES CO. LTD.
12.2.1.Key Facts
12.2.2.Business Description
12.2.3.Products and Services
12.2.4.Financial Overview
12.2.5.SWOT Analysis
12.2.6.Key Developments
12.3.SMA SOLAR TECHNOLOGY AG
12.3.1.Key Facts
12.3.2.Business Description
12.3.3.Products and Services
12.3.4.Financial Overview
12.3.5.SWOT Analysis
12.3.6.Key Developments
12.4.NINGBO GINLONG TECHNOLOGIES
12.4.1.Key Facts
12.4.2.Business Description
12.4.3.Products and Services
12.4.4.Financial Overview
12.4.5.SWOT Analysis
12.4.6.Key Developments
12.5.ABB LIMITED
12.5.1.Key Facts
12.5.2.Business Description
12.5.3.Products and Services
12.5.4.Financial Overview
12.5.5.SWOT Analysis
12.5.6.Key Developments
12.6.KACO NEW ENERGY GMBH
12.6.1.Key Facts
12.6.2.Business Description
12.6.3.Products and Services
12.6.4.Financial Overview
12.6.5.SWOT Analysis
12.6.6.Key Developments
12.7.DELTA ENERGY SYSTEMS GMBH
12.7.1.Key Facts
12.7.2.Business Description
12.7.3.Products and Services
12.7.4.Financial Overview
12.7.5.SWOT Analysis
12.7.6.Key Developments
12.8.SOLARMAX
12.8.1.Key Facts
12.8.2.Business Description
12.8.3.Products and Services
12.8.4.Financial Overview
12.8.5.SWOT Analysis
12.8.6.Key Developments
12.9.CHINT GROUP
12.9.1.Key Facts
12.9.2.Business Description
12.9.3.Products and Services
12.9.4.Financial Overview
12.9.5.SWOT Analysis
12.9.6.Key Developments
12.10.FIMER S.P.A
12.10.1.Key Facts
12.10.2.Business Description
12.10.3.Products and Services
12.10.4.Financial Overview
12.10.5.SWOT Analysis
12.10.6.Key Developments
13.APPENDIX
13.1.ABOUT THE INSIGHT PARTNERS
13.2.GLOSSARY OF TERMS
1.Siemens AG
2.Huawei Technologies Co. Ltd.
3.SMA Solar Technology AG
4.Ningbo Ginlong Technologies
5.ABB Limited
6.KACO New Energy Gmbh
7.Delta Energy Systems Gmbh
8.SolarMax
9.Chint group
10.FIMER S.p.A
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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