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String Inverter Market Share

Report ID: GMI1130
Published Date: May 2023
Report Format: PDF

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String Inverter Market Share

Some of the leading companies operating across the string inverter market are

Fimer Group
Siemens
Schneider Electric
Darfon Electronics Corp.
Growatt New Energy
Sungrow
SMA Solar Technology AG
Sineng Electric Co., Ltd.
Hitachi Hi-Rel Power Electronics Private Limited
Delta Electronics, Inc.
Fronius International GmbH
Huawei Technologies Co., Ltd.
SolarEdge Technologies, Inc.
Eaton
SHENZHEN SOFARSOLAR CO., LTD.
GoodWe
Ginlong Technologies
Panasonic Corporation
Canadian Solar
Tabuchi Electric Co., Ltd.

Major manufacturers across Asia Pacific, the U.S., and the Middle East & Africa are inclined toward mergers & acquisitions, strategic collaborations, partnerships, and joint ventures to further gain a competitive advantage in the market.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of string inverter crossed USD 18.3 billion in 2023 and will showcase over 10.6% CAGR from 2024 to 2032, due to the rising adoption of renewable energy sources, including solar PV.

Demand for three phase string inverters is estimated to record more than USD 11 billion in 2022, owing to the rise in the number of utility scale solar projects.

Standalone installations recorded 16% of the industry share in 2022 and will expand exponentially through 2032, driven by the growing need for sustainable and affordable solutions for electricity access.

Europe market is expected to gain significant traction through 2032, owing to the influx of government initiatives and clean energy targets in the region.