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Global String Inverter Market to Grow at a CAGR of 9.0% During 2024-2032, Aided by Rising Application of the Product in Residential, Commercial, and Industrial Sectors

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Global String Inverter Market Size, Share, Trends, Forecast: By Connection Type: On-Grid, Off-Grid; By Phase: Single Phase, Three Phase; By End-Use: Residential, Commercial and Industrial, Utilities; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Value Chain Analysis; Competitive Landscape; 2024-2032

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global String Inverter Market Analysis
   8.1   Key Industry Highlights
   8.2   Global String Inverter Historical Market (2018-2023)
   8.3   Global String Inverter Market Forecast (2024-2032)
   8.4   Global String Inverter Market by Connection Type
       8.4.1   On-Grid
           8.4.1.1   Market Share
           8.4.1.2   Historical Trend (2018-2023)
           8.4.1.3   Forecast Trend (2024-2032)
       8.4.2   Off-Grid
           8.4.2.1   Market Share
           8.4.2.2   Historical Trend (2018-2023)
           8.4.2.3   Forecast Trend (2024-2032)
   8.5   Global String Inverter Market by Phase
       8.5.1   Single Phase
           8.5.1.1   Market Share
           8.5.1.2   Historical Trend (2018-2023)
           8.5.1.3   Forecast Trend (2024-2032)
       8.5.2   Three Phase
           8.5.2.1   Market Share
           8.5.2.2   Historical Trend (2018-2023)
           8.5.2.3   Forecast Trend (2024-2032)
   8.6   Global String Inverter Market by End-Use
       8.6.1   Residential
           8.6.1.1   Market Share
           8.6.1.2   Historical Trend (2018-2023)
           8.6.1.3   Forecast Trend (2024-2032)
       8.6.2   Commercial and Industrial
           8.6.2.1   Market Share
           8.6.2.2   Historical Trend (2018-2023)
           8.6.2.3   Forecast Trend (2024-2032)
       8.6.3   Utilities
           8.6.3.1   Market Share
           8.6.3.2   Historical Trend (2018-2023)
           8.6.3.3   Forecast Trend (2024-2032)
   8.7    Global String Inverter Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023)
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023)
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023)
            8.7.3.3    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2023)
            8.7.4.3    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2023)
            8.7.5.3    Forecast Trend (2024-2032)
9    North America String Inverter Market Analysis
    9.1    United States of America
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023)
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023)
        9.2.3    Forecast Trend (2024-2032)
10    Europe String Inverter Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023)
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023)
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023)
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023)
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific String Inverter Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023)
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023)
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023)
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023)
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023)
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America String Inverter Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023)
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023)
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023)
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa String Inverter Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023)
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023)
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023)
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023)
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Delta Electronics Public Co., Ltd.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Huawei Technologies Co., Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Growatt New Energy Technology Co., Ltd.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Siemens AG
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Solar Edge Technologies Ltd.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global String Inverter Market: Key Industry Highlights, 2018 and 2032
2.   Global String Inverter Historical Market: Breakup by Connection (USD Billion), 2018-2023
3.   Global String Inverter Market Forecast: Breakup by Connection (USD Billion), 2024-2032
4.   Global String Inverter Historical Market: Breakup by Phase (USD Billion), 2018-2023
5.   Global String Inverter Market Forecast: Breakup by Phase (USD Billion), 2024-2032
6.   Global String Inverter Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.   Global String Inverter Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.   Global String Inverter Historical Market: Breakup by Region (USD Billion), 2018-2023
9.   Global String Inverter Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.   North America Global String Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
11.   North America Global String Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.   Europe Global String Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
13.   Europe Global String Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.   Asia Pacific Global String Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
15.   Asia Pacific Global String Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.   Latin America Global String Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
17.   Latin America Global String Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.   Middle East and Africa Global String Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
19.   Middle East and Africa Global String Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.   Global String Inverter Market Structure

Key Questions Answered in the Report

What was the global string inverter market size in 2023?

In 2023, the global string inverter market attained a value of above USD 4.03 billion.

What is the growth rate of the market?

The market is estimated to grow at a CAGR of 9% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach more than USD 8.73 billion by 2032.

What are the major regional markets of string inverter, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major industry drivers?

The major drivers of the market include the rising end-uses of the product in residential and commercial sectors, the growing disposable incomes, and the increasing awareness about the various advantages offered by the product.

What are the key industry trends of the global string inverter market?

Technological advancements, the growing focus to reduce failure of appliances, and the increasing construction activities, are expected to drive the growth of the industry in the forecast period.

What are the major connection types of string inverter?

On-grid and off-grid are the major connection types of string inverter.

What are the different phases of string inverter in the market?

Single phase and three phase are the different phases of string inverter in the market.

What are the various end-uses of string inverter?

Residential, commercial and industrial, and utilities, are the various end-uses of string inverter.

Who are the key industry players, according to the report?

The major players in the industry 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.

Analyst Review

The global string inverter market attained a value of above USD 4.03 billion in 2023, driven by the growing applications in the residential, commercial, and industrial sectors. Aided by technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 9.0%. The market is projected to reach above USD 8.73 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on connection type, the string inverter industry is divided into on-grid and off-grid. On the basis of phases, the market is bifurcated into single phase and three phase. By end-uses, the market is segmented into residential, commercial and industrial, and utilities. The major regional markets for string inverter are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Delta Electronics Public Co., Ltd., Huawei Technologies Co., Ltd., Growatt New Energy Technology Co., Ltd., Siemens AG, and Solar Edge Technologies Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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