Key vendors to focus on forming partnerships with end-user industries to strengthen their foothold in the market space.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global string inverters market in their latest research report. This report also lists nine other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for string inverters is highly diverse and is characterized by the presence of many international and domestic players. Intense competition, rapid advances in technology, frequent changes in policies imposed by governments worldwide, and environmental regulations are some of the challenges that hinder the growth of the market. The market is also consolidated in nature with large players that have the least regional presence occupying larger market shares.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for research on energy storage, “The global market for string inverters is susceptible to many technical and financial challenges, which facilitates inorganic growth within the market. In such a scenario, vendors form strong partnerships with automotive, industrial, and commercial companies to survive in the market, rather than become the targets for acquisition.”
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Top five vendors in the string inverters market space
ABB
ABB is a leading manufacturer of automation and power technologies. The ABB Group consists of numerous divisions including power systems and power products, low voltage products, discrete automation and motion, and process automation. The company provides power and automation technologies for the utility, transport, and infrastructure industries worldwide.
Key products: PVI-3.0/3.6/4.2, PVI-5000/6000-TL-OUTD, UNO-2.0-I/2.5-I, UNO-2.0/3.0/3.6/4.2-TL-OUTD, PRO-33.0-TL-OUTD, PVI-10.0/12.5, TRIO-20.0-TL/27.6-TL, TRIO-5.8/7.5/8.5-TL-OUTD, and TRIO-50.0-TL-OUTD.
Huawei Technologies
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 generates revenue through three key business segments which include carrier networks, consumers, and enterprise.
Key products: HUAWEI SUN2000-36KTL/42KTL, HUAWEI SUN2000-25/ 30KTL, HUAWEI SUN2000-45KTL, HUAWEI SUN2000-8/12KTL, HUAWEI SUN2000-17/20KTL, HUAWEI SUN2000-33/40KTL, SUN2000 (36KTL,42KTL), and SUN2000 (8KTL-28KTL).
Schneider Electric
Schneider Electric engages in the production of a wide range of equipment and components for electricity distribution, energy management, and automation management. The key business segments of the company include – Building and partner business, Infrastructure business, Industry business, and IT business.
Key products: UPS, Telemetry and remote supervisory control and data acquisition systems, Building systems and solutions, and Solar.
SMA Solar Technology
SMA Solar Technology is the market leader in the development, production, and sales of PV inverters. It offers its products and solutions to customers in 21 countries. 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.
Key products: Sunny Tripower CORE1, Sunny Tripower 15000TL / 20000TL / 25000TL, Sunny Tripower 15000TL, Sunny Tripower 5000TL – 12000TL, Sunny Tripower 12000TL-US / 15000TL-US / 20000TL-US / 24000TL-US / 30000TL-US, Sunny Boy 3000TL / 3600TL / 4000TL / 5000TL WITH REACTIVE POWER CONTROL, Sunny Boy 3000TL-US / 3800TL-US / 4000TL-US / 5000TL-US / 6000TL-US / 7000TL-US / 7700TL-US, and Sunny Boy 3500TL-JP / 4500TL-JP / 5400TL-JP.
SUNGROW
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. It has 11 subsidiaries worldwide located in North Asia, America, Australia, Europe, and South America.
Key products: SG125HV, SG60KTL, SG50KTL-M/SG60KTL-M, SG30KU/SG36KU, SG49K5J, SG10KTL-EC, SG3KTL-EC/SG5KTL-EC, SG2KTL-S/SG3KTL-S, and SG3KTL-D/SG5KTL-D.
A more detailed analysis is available in the Technavio report, Global String Inverters Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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