Sep 1, 2020   SOURCE: PR NewsWire

World String Inverter Market Outlook to 2025 - Featuring Key Players KACO New Energy, Delta Energy Systems, ABB, Sungrow Power Supply and More

DUBLIN, Sept. 1, 2020 /PRNewswire/ -- The "String Inverter Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

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The global string inverter market is expected to grow at a CAGR of more than 15% during the forecast period of 2020-2025.

Factors such as increasing deployment of solar projects, on account of the supportive government initiatives, and the declining price of solar photovoltaic components are expected to drive the market. Governments across the world have incorporated various policies to implement renewable energy as a source of alternative energy.

However, the lack of financing options to install solar photovoltaic (PV) systems in the residential sector in underdeveloped and developing economies is expected to hinder the string inverter market growth during the forecasting period.

Key Highlights

    --  The utility segment is likely to witness significant growth during the
        forecast period, owing to the increase in solar power projects in
        various countries across the globe to develop a sustainable and
        affordable energy source.
    --  With the targets to reduce greenhouse gas (GHG) emissions in the coming
        years, countries across the globe are adopting various targets to
        mitigate climate change. For instance, California is one of the
        prominent states in the United States, that has targeted to reduce
        greenhouse gas emissions to 40% by 2030. Moreover, it is estimated that
        by 2030, the global demand for electricity would be nearly 36 thousand
        terra watts hours. The increasing demands for electricity clubbed with
        the targets for GHG emissions are expected to promulgate the increase in
        renewable energy facilities like solar PV, which is likely to create an
        opportunity for the string inverter companies to expand its business in
        the near future.
    --  Asia-Pacific is expected to witness significant growth during the
        forecast period, with the majority of the demand coming from China,
        Japan, and India.

Market Trends

Utility Segment Likely to Witness Significant Growth

    --  Utility-Scale solar photovoltaic installations are massive projects that
        cover multiple acres of land that are used to generate electricity,
        solely for distribution purpose. The string inverters are used to
        convert the generated direct current (DC) by the solar panels into
        alternating current (AC).
    --  The utility-scale solar facilities generate electricity through several
        technologies that include concentrating photovoltaics (CPT),
        concentrating solar power (CSP), and photovoltaics (PV). Among all,
        photovoltaic is the most widely implemented technology, on which string
        inverters are getting used.
    --  In2019, global solar PV installed capacity was nearly 580.2 gigawatts
        (GW) and is expected to increase during the forecast period on account
        various initiatives taken by the countries to have a sustainable and
        cheaper form of energy source.
    --  Utility segment string inverters are primarily three-phase, have a power
        rating of more than 80kW, and have unique properties to withstand
        extreme climatic conditions.
    --  For instance, the solar park project in Tatvan town of Turkey is one of
        the recent utility solar projects, that installed nearly 40 string
        inverters. The installed capacity of the park is around 5 megawatts and
        was commissioned in 2019.
    --  With increasing demand, investment for solar utility projects are
        growing over the years. Countries like China and the United States are
        among the top countries that are concentrating on having a large number
        of utility projects in the upcoming years. Such steps in the utility
        sector are likely to have a large installation of string inverter and
        thus would help to dominate the market during the forecast period.

Asia-Pacific to Witness Significant Growth

    --  Asia-Pacific is dominating the region with the highest installed
        capacity of solar PV and string inverters. In 2019, the region has
        nearly 330 gigawatts (GW) of solar PV installed capacity, with China,
        Japan, and India as the major countries.
    --  China is the major country in the region with approximately 205 GW of
        solar PV installations in 2019. It is expected that the country is
        planning to double its installation capacity by 2025, which is likely to
        expand the string inverter market during the forecast period.
    --  Tengger Desert Solar Park and Longyangxia Dam Solar Park of China,
        Kurnool Ultra Mega Solar Park, and Kamuthi Solar Power Station of India
        are the few key projects in the region that have installed string
        inverters.
    --  As per the National Energy Administration (NEA), China has allocated
        three billion yuan of subsidiaries for solar projects during the year
        2019. Out of the total, nearly 750 million yuan is expected to allocate
        to the rooftop solar power projects. Subsidiaries allocated is expected
        to install more solar PV facilities, which is likely to boost the string
        inverter installations during the upcoming years.

Competitive Landscape

The string inverter market is moderately fragmented. Some of the key players in the market include KACO New Energy GmbH, Delta Energy Systems GmbH, ABB Ltd, Sungrow Power Supply Co Ltd, Huawei Technologies Co Ltd, Chint Power Systems Co Ltd, Ningbo Ginlong Technologies Co Ltd, Fronius International GmbH, SMA Solar Technology AG, and Eaton Corporation.

Key Topics Covered

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis

5 MARKET SEGMENTATION
5.1 Phase
5.1.1 Single Phase
5.1.2 Three Phase
5.2 Power Rating
5.2.1 Up to 10kW
5.2.2 11kW to 40kW
5.2.3 41kW to 80kW
5.2.4 Above 80kW
5.3 End-user
5.3.1 Residential
5.3.2 Commercial & Industrial
5.3.3 Utility
5.4 Geography
5.4.1 North America
5.4.2 Asia-Pacific
5.4.3 Europe
5.4.4 South America
5.4.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 KACO New Energy GmbH
6.3.2 Delta Energy Systems GmbH
6.3.3 ABB Ltd.
6.3.4 Sungrow Power Supply Co. Ltd.
6.3.5 Huawei Technologies Co. Ltd.
6.3.6 Chint Power Systems Co. Ltd.
6.3.7 Ningbo Ginlong Technologies Co. Ltd.
6.3.8 Fronius International GmbH
6.3.9 SMA Solar Technology AG
6.3.10 Eaton Corporation PLC

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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