LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global string inverters market report until 2021. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global string inverters market for 2017-2021 provides a detailed industry analysis based on the end-users (commercial and residential), phase (three-phase and single-phase string inverters), and geography (APAC, EMEA, and the Americas).
“The global string inverters market is projected to grow to USD 3.5 billion by 2021, at a CAGR of more than 8% over the forecast period. The declining prices of string inverters is one of the key factors responsible for the rising adoption of the product,” says Thanikachalam Chandrasekaran, a lead analyst at Technavio for energy storage research.
Competitive vendor landscape
The global string inverters market is characterized by the presence of a diverse set of international and domestic players. Vendors in the market seek strong partnerships with automotive, industrial, and commercial companies to survive in the market, rather than become the targets for acquisition. Intense competition, rapid advances in technology, frequent changes in policies imposed by governments worldwide, and environmental regulations are the key challenges that confront this market.
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Top five vendors in the global string inverters market
ABB is one of the leading manufacturers in automation and power technologies, which enable utility and industrial customers to improve performance while reducing the environmental impact. The ABB Group consists of numerous divisions, including power systems and power products, low voltage products, discrete automation and motion, and process automation.
Huawei Technologies is a leading global information and communications technology (ICT) solutions provider. The company designs, manufactures, and markets a wide range of IT infrastructure, networking, mobile phones, data communication, inverters, and others. The company operates through the carrier network, consumers, and enterprise business segments.
Schneider Electric produces a wide range of equipment and components for electricity distribution, energy management, and automation management. The company operates through building and partner business, infrastructure business, industry business, and IT business segments.
SMA Solar Technology
SMA Solar Technology is a major player in the global string inverters market. The company is the market leader in the development, production, and sales of PV inverters. SMA is the market leader in the solar PV segment of the global string inverters market. The company provides product solutions for small, medium, and large power utilities.
SUNGROW is a technology provider of PV inverters and energy storage equipment for commercial, residential, and utility-scale solar PV power plant systems. The company is the world’s leading solar PV inverter manufacturer, with approximately 26 GW of inverters deployed worldwide.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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