The string inverter market is driven by the rising application of the product in residential, commercial and industrial sectors. String inverters are efficient and are capable of reducing the risk of an appliance failure present in a commercial or residential building. The eco-friendly approach of the inverter makes it a preferable choice among those who are concerned about the environmental hazards. Over the forecast period, the growing popularity of the solar power systems is likely to provide impetus to the global market.
In April 2021, Delta Electronics (BKK: DELTA), announced the launch of M250HV 250kW string inverter, which has been designed to be utilised across large-scale power plants mounted on the ground. The superior and convenient design of string inverter is likely to enhance the flexibility of planning, which will in turn, improve its overall performance.
In terms of region, Europe is likely to account for a significant share in the market, owing to the technological advancements construction industry, which is propelled by the rising population, growing immigration. Over the forecast period, the growing travel and tourism industry in countries like France, Spain, and United Kingdom is likely to augment the commercial construction sector, which will propel the demand for string inverters.
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The major players in the global market are Delta Electronics Public Co., Ltd., Huawei Technologies Co., Ltd., Growatt New Energy Technology Co., Ltd., Siemens AG, and Solar Edge Technologies Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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