Learn about the global string inverter market through The Business Research Company, which provides information on string inverter market size, string inverter market drivers and restraints, string inverter market players, the COVID-19 impact on the string inverter market, and more.

The global string inverter market is expected to grow from $3.37 billion in 2021 to $3.67 billion in 2022 at a compound annual growth rate (CAGR) of 9.08%. The global string inverter market size is expected to grow to $5.04 billion in 2026 at a compound annual growth rate (CAGR) of 8.22%.

Increasing electricity demand is driving the string inverters market.

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The string inverter market consists of sales of string inverters by entities (organizations, sole traders, and partnerships) that refer to a device that converts the energy generated by solar arrays (Direct Current) into useable power for a residence (Alternating Current). A solar array is a group of several solar panels that work together to generate power. A string inverter is a stand-alone box with inputs for connecting “strings” of solar panels into a single unit. Six to ten separate solar panels are usually linked together in a string-like sequence, with the end hooked into the central inverter.

Global String Inverter Market Segments Include:
By Connection Type: On-Grid, Off-Grid

By Nominal Output Voltage: = 230 V, 230 – 400 V, 400 – 600 V, > 600 V

By Power Rating: Up to 10 kW, 11 kW – 40 kw, 41 kW – 80 kW, Above 80 kW

By End Use Industry: Residential, Commercial and Industrial, Utilities

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global string inverter market in 2021.

Technological developments are a key trend gaining popularity in the string inverter market. Smart string inverters are one of the developments in the string inverter market. Smart inverters use voltage and frequency sensors to identify grid anomalies and provide appropriate data to utility operators. Smart inverters are convenient for home rooftop solar owners since they function independently.

TBRC’s String Inverter Market Report Covers:

Major Market Players: Chint Group Co. Ltd., Delta, Sputnik Engineering, Growatt New Energy, Siemens, Ginlong Technologies Co., SMA Solar Technology, Fronius International, KACO New Energy GmbH, Samil Power Co. Ltd., FIMER SpA, SolarMax, Hitachi Hi-Rel Power Electronics, TMEIC, and Sineng Electric Co.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The String Inverter Global Market Report 2022  is one of a series of new reports from The Business Research Company that provides string inverter market overviews, analyzes and forecasts market size, share, string inverter market players, string inverter market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s string inverter market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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