String Inverter Market Overview:

String Inverter Market is projected to reach USD 7,952.2 Million with CAGR of 8.3% during the forecast period 2022 - 2030. Easy installation & customization is expected to drive the global market.

String inverters are an array of solar panels attached to a device for storing and capturing energy. Ease of maintaining the setup in extreme temperatures can drive its demand. The report on the global string inverter market by Market Research Future (MRFR) covers trends in manufacturing and opportunities for the industry for the forecast period (2022-2030). The effects of the COVID-19 pandemic on the market value are discussed in high detail.

Request Sample Report @

Market Scope

Renewable Energy Schemes to Influence Market Demand

Launch of new renewable energy schemes owing to concerns of environmental emissions can drive demand for string inverters. The inverters are connected to grids used in storage of alternative energy and construction of solar farms, wind farms, and hydroelectric dams. Expansion of construction sector, schemes for sustainable development, and development of custom photovoltaic panels can bode well for the market. String inverters can eliminate monitoring issues and induce market demand owing to its benefits in lowering carbon footprints.

Segmentation Analysis

On-grid System to be Highly Lucrative

The on-grid system segment is set to be lucrative for the string inverter market owing to its use in small and medium solar panels. Use of three-phase string inverters in North America and Europe can drive segment growth.

41KW to 80KW to Garner Significant Market Revenue

The 41KW to 80KW segment is likely to trigger huge market demand owing to light and compact size of inverters within the power rating range. Advantages of these inverters in extending its protection in harsh environments and ability to be integrated seamlessly in all PV plants can drive segment growth.

Utility to be Biggest Market End-user

The utility sector is expected to induce massive demand for string inverters owing to its utilization in transfer of power from solar parks to main grids. Implementation of photovoltaic panels in solar parks to capture energy and capture energy for future use can bode well for the market. String inverters with a capacity greater than 80KW are used in regions with extreme climatic conditions.

Regional Analysis

APAC to Lead in Global Market Demand

Asia-Pacific (APAC) is set to dominate the global string inverter market demand owing to investments in renewable power projects and new government schemes for incentivizing business and home owners. This is exemplified by development of solar parks in China and allocation of resources for rooftop solar projects.

Industry Update

Huawei and Sineng have won a string inverter worth 5.5 GW at a recent auction by Chinese state-owned company, China Energy Investment Corporation (CHN Energy) in 2021.

Access Report Details @

Competitive Analysis

Ingeteam (U.S.A), KACO New Energy (Germany), Schnieder (France), Fronius International (Austria), Ginlong Technologies (China), Sungrow Power Supply (California), Solar Max, Kostal Solar Electric (Germany), Huawei Technologies (Hong Kong, China), and Advanced Energy Technologies (U.S.A) are prominent players of the global string inverter market.