The String Inverter market dynamics, forces, companies and trends have been determined after conducting a detailed study of the industry for this newly released research report now available with Market Study Report.
Selbyville, DE -- (SBWIRE) -- 12/11/2018 -- MarketStudyReport.com Adds New String Inverter Market 2016– 2024 research report providing information and data By Product, By Phase, By Power Rating, By Application, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 140 Pages with table and figures in it.
In the U.S., programs including Renewable Energy Production Incentives (REPI) have been introduced to encourage the adoption of renewable energy technologies which will positively impact demand. REPI program offers incentive payments to new renewable energy facilities that generate and sell electricity. For Europe, UK string inverter market size is set to witness growth over 18% by 2024. Shifting trend towards sustainable energy may favor the industry growth. The electricity generation through renewable resources reached from 64.7 TWh in 2014 to 83.3 TWh in 2015.
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Major industry players include SolarMax, Huawei Technologies, Sungrow Power Supply, Fronius International, KOSTAL Solar Electric, Growatt New Energy Technology, Schneider, Ingeteam, Ginlong Technologies, Advanced Energy Industries, KACO New Energy and Solaredge Technologies.
String Inverter Market Research Report for the period of 2016-2024 that shows the growth of the market is rising at a 15% CAGR to 2024.
String Inverter Market size is expected to cross USD 7 billion by 2024. Rising demand for continuous and reliable power sources owing to growing population and urbanization will propel global string inverter market share over forecast period. Strong demand trends for off grid electricity will also play a significant role in industry evolution, with over 800 million of total population having poor or no access to electric grid infrastructure as of 2015.
Declining component cost coupled with low ongoing maintenance will positively influence string inverter market growth. Advancement of technology has reduced the three-phase inverter price by over 20% from 2013. Cost competitiveness will increase its adoption among residential and commercial users.
Global industry revenue generated from on-grid will exceed USD 5 billion. It finds application in small to medium scale industrial &commercial complex and large-scale utility projects. Increasing adoption of decentralization system is set to drive standalone system demand.
The global revenue generated from up to 10 kW string inverter market for 2015 was over USD 225 million and is predicted to witness strong growth owing to growing rooftop solar system demand from residential and commercial consumers.
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Chile accounted for 10% of Latin America string inverter market share in 2015 and will see considerable growth owing to rising solar power installation. In 2016, Chile has installed 1,113 MW of solar power with over 2 GW of under construction and announced projects.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. String Inverter Industry Insights
Chapter 4. String Inverter Product Insights
Chapter 5. String Inverter Phase Insights
Chapter 6. String Inverter Power Rating Insights
Chapter 7 String Inverter Application Insights
Chapter 8 String Inverter Regional Insights
Chapter 9. Company Profiles
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Photovoltaic (PV) Inverter Market Share & Forecast, 2018 - 2024
Photovoltaic (PV) Inverter Market is projected to exceed USD 11 billion by 2024. Large scale fund allocation toward sustainable grid integration along with favorable government reforms will boost the industry growth. In 2017, around 70% of global PV industry has been positively influenced by monetary schemes and approx. 10% through net metering respectively. Increasing stand-alone electricity demand accompanied by rapid expansion of microgrid infrastructure will further enhance the business dynamics.
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