String Inverter Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The 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 HighlightsThe 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 Plc.
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