String Inverter Market Size, Trends, Shares, and Forecast - 2031

Historic Data: 2021-2023   |   Base Year: 2024   |   Forecast Period: 2025-2031

Coverage: String Inverter Market covers analysis By System Type (On-Grid, Off-Grid); Phase (Single Phase, Three Phase); End Use (Residential, Commercial, Industrial, Utilities) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Date : Sep 2025
  • Report Code : TIPRE00027556
  • Category : Manufacturing and Construction
  • Status : Upcoming
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

The String Inverter Market is expected to register a CAGR of 7.2% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.

The report is segmented by Phase (Single Phase, Three Phase). The report further presents analysis based on the Installation Type (On-Grid, Off-Grid). The report further presents analysis based on the Power Rating (Up to 10kw, 11kw-80kw, Above 80kw). The report further presents analysis based on the End User (Residential, Commercial and Industrial, Utilities). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.

Purpose of the Report

The report String Inverter Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

String Inverter Market Segmentation

Phase

  • Single Phase
  • Three Phase

Installation Type

  • On-Grid
  • Off-Grid

Power Rating

  • Up to 10kw
  • 11kw-80kw
  • Above 80kw

End User

  • Residential
  • Commercial and Industrial
  • Utilities

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String Inverter Market: Strategic Insights

string-inverter-market
  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

String Inverter Market Growth Drivers

  • Increasing Residential and Utility Solar Installations: The increased push towards achieving green power to achieve sustainability and energy security is the primary factor driving the deployment of solar PV for meeting the rising demand and replacing the fossil-fuel based power generating sources. The growth is majorly attributable to increasing government initiatives and incentives, technological advancements, constant reducing cost and rural electrification..
  • Government Intiatives towards Solar Installations: Strong government policy support continues to remain as the principal driver of solar PV deployment across the world. Various policies implemented including, auctions, feed-in-tariffs, net-metering, contracts for difference, Investment tax credit, production tax credit, and renewable power generation targets.
  • Technological Advancements in Solar Power Systems: Ongoing improvements in solar power technology, including higher efficiency solar panels and advanced inverters, are driving the growth of the string inverter market. String inverters are becoming more efficient, compact, and cost-effective and, therefore, preferred for residential, commercial, and industrial solar installations. These advancements enable higher energy output and improved system performance.

String Inverter Market Future Trends

  • Increasing Investments in Renewable Energy Sector: According to the International Energy Agency (IEA), the global energy demand increased by 8% in 2022. The upswing in investments in 2022 is a mixture of a cyclical response to recovery and a structural shift in capital flows toward cleaner technologies. For instance, the Saudi Arabian Ministry in January 2023 announced an investment of US$ 226 billion for development of clean energy across the country. This investment will be utilized for developing wind and solar energy infrastructure for generating power to meet the country-wide demand.
  • Smart Inverters and Grid Optimization: Integration into the smart grid systems is going to be the future for string inverters. Inverters that are termed as smart inverters because they will have features of remote monitoring, real-time data analysis, and grid optimization will be in the fore in improving overall performances of solar energy systems. It is going to help balance the grid, increase stability in grids, and provide support for sophisticated techniques for energy management. This means the solar power can be included more easily in national grids.

String Inverter Market Opportunities

  • Technological Innovations in Smart String Inverters: Smart string inverters are a more advanced type of power electronics that can make autonomous decisions to keep the grid stable and reliable. Smart string inverters work autonomously while ensuring uninterrupted power flow without voltage fluctuations. Advanced features such as voltage and frequency sensors allow smart inverters to detect grid abnormalities and send feedback to utility operators. Hence, the technological innovations in smart string inverters is expected to be the key trend in string inverter market
  • Growth in Emerging Markets: The string inverter market will have significant opportunities, especially in emerging economies in Asia-Pacific, Africa, and South and Central America, as they increase their investments in solar infrastructure to meet rising energy demands. String inverters are very scalable and affordable, making them an ideal solution for large-scale solar installations in these emerging markets.

String Inverter Market Regional Insights

The regional trends and factors influencing the String Inverter Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses String Inverter Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

string-inverter-market-global-geography
  • Get the Regional Specific Data for String Inverter Market

String Inverter Market Report Scope

Report Attribute Details
Market size in 2024 US$ XX million
Market Size by 2031 US$ XX Million
Global CAGR (2025 - 2031) 7.2%
Historical Data 2021-2023
Forecast period 2025-2031
Segments Covered By Phase
  • Single Phase
  • Three Phase
By Installation Type
  • On-Grid
  • Off-Grid
By Power Rating
  • Up to 10kw
  • 11kw-80kw
  • Above 80kw
By End User
  • Residential
  • Commercial and Industrial
  • Utilities
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Siemens AG
  • Huawei Technologies Co. Ltd.
  • SMA Solar Technology AG
  • Ningbo Ginlong Technologies
  • ABB Limited
  • KACO New Energy Gmbh
  • Delta Energy Systems Gmbh
  • SolarMax
  • Chint group

  • String Inverter Market Players Density: Understanding Its Impact on Business Dynamics

    The String Inverter Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the String Inverter Market are:

    1. Siemens AG
    2. Huawei Technologies Co. Ltd.
    3. SMA Solar Technology AG
    4. Ningbo Ginlong Technologies
    5. ABB Limited

    Disclaimer: The companies listed above are not ranked in any particular order.


    string-inverter-market-cagr

    • Get the String Inverter Market top key players overview

    Key Selling Points

    • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the String Inverter Market, providing a holistic landscape.
    • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
    • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
    • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

    The research report on the String Inverter Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.


    Frequently Asked Questions

    What are the options available for the customization of this report?

    Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

    What are the deliverable formats of the String Inverter Market report?

    The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

    Which are the leading players operating in the String Inverter Market

    The leading players operating in the string inverter market include SMA Solar Technology AG, Sungrow Power Supply Co., Ltd., Fronius International GmbH, Delta Electronics, Inc., Ginlong Technologies, Huawei Technologies Co. Ltd., Growatt New Energy, Schneider Electric, Fimer SpA, and SolarEdge Technologies, Inc.

    What is the expected CAGR of the String Inverter Market?

    The String Inverter Market is estimated to witness a CAGR of 7.2% from 2023 to 2031

    What is the future trend of the String Inverter Market?

    Technological innovations in smart string inverters is the key future trend of the string inverter market

    What are the driving factors impacting the global String Inverter Market?

    The major factors driving the string inverter market are: Rise in solar PV installations in residential and utility applications and government initiatives towards promotion of solar power.

    Nivedita Upadhyay
    Nivedita Upadhyay
    Manager,
    Market Research & Consulting

    Nivedita is an accomplished research professional with over 9 years of experience in Market Research and Business Consulting. Currently serving as a Project Manager in the ICT domain at The Insight Partners, she brings deep expertise in managing and executing Syndicated, Custom, Subscription-based, and Consulting research assignments across diverse technology sectors.

    With a proven track record of delivering data-driven analysis and actionable insights, Nivedita has been a key contributor to several critical projects. Her work involves end-to-end project execution—right from understanding client objectives, analyzing market trends, to deriving strategic recommendations. She has collaborated extensively with leading ICT companies, helping them identify market opportunities and navigate industry shifts.

    Nivedita holds an MBA in Management from IMS, Dehradun. Prior to joining The Insight Partners, she gained valuable experience at MarketsandMarkets and Future Market Insights in Pune, where she held various research roles and built a strong foundation in industry analysis and client engagement.

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    • Market Size Value / Volume - Global, Regional, Country
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    Our Clients
    The List of Companies

    1.Siemens AG
    2.Huawei Technologies Co. Ltd.
    3.SMA Solar Technology AG
    4.Ningbo Ginlong Technologies
    5.ABB Limited
    6.KACO New Energy Gmbh
    7.Delta Energy Systems Gmbh
    8.SolarMax
    9.Chint group
    10.FIMER S.p.A
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