String inverter market outlook: Rising demand for uninterrupted power supply to augment the industry growth over 2016-2024

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String Inverter Market Outlook Growing
environmental concerns and rising power supply
demand to augment the industry growth
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Global Market Scenario of String Inverter
Industry

• The surging requirement for continuous
  electricity supply will stimulate string inverter
  market value over the coming timeframe.
• Favorable features such as light weight, compact
  size, ability to increase power density, and ease
  of installation will notably influence the demand
  for string inverter. As per the report by Global
  Market Insights, Inc.,
• Global String inverter market is predicted to
  grow at an annual growth rate of 15 over the
  period of 2016 to 2024. Government rules and
  regulation regarding usage of renewable energy
  resources, owing to the depleting fossil fuel
  storages will also drive the worldwide string
  inverter industry share over the next few years.
• Single and three phase are the two key types of
  the string inverter. Three-phase string inverter
  market share, which was worth over USD 1 billion
  in 2015, is anticipated to exhibit significant
  growth over the coming years. The growth can be
  attributed to its increasing demand across the
  commercial and utility sectors.

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Continued...

• The commercial, residential, and utility are the
  prominent application areas of the string
  inverter market.
• The commercial application covered more than 70
  of the overall market share in 2015 and is
  projected to exhibit noticeable growth rate,
  driven by the growing urbanization along with
  huge investment in infrastructure development.
  The utility and residential applications also
  make substantial contributions towards the string
  inverter industry share.
• Based on the power rating, string inverter
  industry is primarily segmented into over 80KW,
  41KW-80KW, 11KW-40KW, and 10KW.
• The string inverter of capacity 11KW to 40KW
  collected a revenue of over USD 700 million in
  2015 and is anticipated to record a considerable
  growth rate, due to its surging demand from
  commercial complexes and small scale industries.

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Europe String Inverter Market size, by power
rating, 2015 2024 (MW)

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Inverter Market _at_ http//bit.ly/2oBICW8
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360 Analysis

• Application Trends
• Global string inverter market size from
  residential applications for 2015 was over 1 GW.
  Introduction of schemes such as feed in tariff,
  subsidy will boost the business growth.
• Regional Trends
• U.S. string inverter market size for 2015 was
  over USD 285 million. Government incentives
  including tax credit, rebate, feed in tariff and
  net metering is encouraging the adoption of
  renewable energy in the region.
• Chile is predicted to reach over 800 MW by 2024,
  owing to increasing installation of solar power
  projects. The country set target to produce over
  70 of electricity through renewable energy
  resource by 2050.
• South Africa string inverter market share
  contributed 5 of regional revenue share in 2015
  and is expected to be driven by growing
  electricity demand.

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