United Kingdom String Inverter Market Growth, Size, Trends, Demand, Share and Future Outlook
United Kingdom String Inverter Market Size- By Connection Type, By Phase, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2024 | Report ID: POAE2442 | Pages: 1 - 104 | Formats*: |
| Category : Power & Energy | |||
United Kingdom String Inverter Market Introduction and Overview
According to SPER Market Research, the United Kingdom String Inverter Market is estimated to reach USD 565.15 million by 2033 with a CAGR of 7.28%.
The report includes an in-depth analysis of the United Kingdom String Inverter Market, including market size and trends, product mix, Applications, and supplier analysis. A string inverter is a form of solar inverter that is used in photovoltaic (PV) systems, which use sunlight to produce power. A string inverter's principal role is to convert the direct current (DC) electricity generated by solar panels into alternating current (AC) electricity that can be used in homes, businesses, or on the electrical grid. In addition to converting, solar inverters monitor voltage, connect to the grid, and shut down in an emergency. On-grid inverters, as opposed to off-grid string inverters, generate pure sine waves of alternating current power, boosting their availability while also maintaining the efficiency and security of home equipment.
- In September 2022: Sineng Electric announced a partnership with Power n Sun for its string PV inverter range in South Africa. Sineng has launched a new generation of three-phase string inverters aimed at the South African commercial and industrial markets. The string inverters have capabilities of 50kW, 120kW, 250kW, and 275kW, respectively.
- In May 2019: Siemens struck a binding agreement to acquire KACO new energy's string inverter division. In January 2019, KACO sold its central inverter business to Korea's OCI Power.
Market Opportunities and Challenges
Opportunities: Technological developments in design and functionality are driving the market growth of string inverters. Manufacturers are always working to improve the performance, dependability, and functionality of these products through innovation. They've also developed smart or intelligent inverters with advanced monitoring and communication features. String-inverters are now positioned as necessary parts for emerging smart grids' requirements while advancing an Intelligent Energy Management System (IEMS) thanks to manufacturers' integration of technology into their products, which allows users to remotely monitor the performance of solar power systems to identify issues while optimizing energy production via a mobile application interface. This seamless integration increases user experience and operational efficiency in dynamic, automated network environments such as IEMs.
Challenges: High Costs - Despite decreasing, the initial cost of string inverters remains a significant barrier in the industry. Despite considerable cost reductions in solar panels, inverters, particularly string inverters, continue to account for a significant share of system expenses. With affordability being a primary priority for buyers, particularly in residential markets, high-quality string inverters can be prohibitively expensive. Manufacturers and governments must work together on cost-saving initiatives to make it easier to install these types of solar systems. String inverters present difficulties owing to installation and maintenance issues. Furthermore, the cost of ownership rises due to the upkeep requirements, which include periodic maintenance and possible component replacements. These difficulties could be addressed by expediting installation methods and increasing component lifespan.
Market Competitive Landscape
The market for string inverters in the United Kingdom is highly competitive. Major market players include Fronius UK Ltd, SMA Solar Technology UK Ltd, ABB Limited, Delta Energy Systems (UK) Ltd, SolarEdge Technologies UK Ltd, Tigo Energy UK Ltd, Huawei Technologies Co Ltd, and Eaton Electric Ltd. These market leaders' primary strategies include new product launches, mergers and acquisitions, and alliances. To increase their market share, these companies are investing in innovations, collaborations, and expansions.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Connection Type, By Phase, By End User |
| Regions covered | London, East Anglia, Southwest, Southeast, Scotland, East Midlands, Yorkshire & Humberside |
| Companies Covered | Fronius UK Ltd, SMA Solar Technology UK Ltd, ABB Limited, Delta Energy Systems (UK) Ltd, SolarEdge Technologies UK Ltd, Tigo Energy UK Ltd, Huawei Technologies Co Ltd, Eaton Electric Ltd. |
COVID-19 Impact on United Kingdom String Inverter Market
Significant interruptions to their respective production and supply-chain operations occurred as a result of numerous precautionary lockdowns and other limitations imposed by regulatory agencies across the UK. Furthermore, consumer demand has reduced as people are now more focused on minimizing non-essential expenses from their various budgets, as the bulk of people's overall economic situation has been badly damaged by this outbreak. These factors are projected to have an impact on the revenue trajectory of the UK String Inverter market throughout the forecast period. However, as individual governing bodies relax the mandated lockdowns, the UK string inverter industry is projected to rebound.
Key Target Audience:
- Commercial Property Owners
- Electricians and Installers
- Energy Consultants
- Government Agencies
- Homeowners
- Industrial Facility Managers
- Renewable Energy Investors
- Solar Energy Companies
- Utility Companies
Our in-depth analysis of the United Kingdom String Inverter Market includes the following segments:
| By Connection Type: |
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| By Phase: |
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| By End User: |
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Key Topics Covered in the Report:
- United Kingdom String Inverter Market Size (FY’2024-FY’2033)
- Overview of United Kingdom String Inverter Market
- Segmentation of United Kingdom String Inverter Market By Type (On-Grid, Off-Grid)
- Segmentation of United Kingdom String Inverter Market By Phase (Single Phase, Three Phase)
- Segmentation of United Kingdom String Inverter Market By End User (Residential, Commercial & Industrial, Utilities)
- Statistical Snap of United Kingdom String Inverter Market
- Expansion Analysis of United Kingdom String Inverter Market
- Problems and Obstacles in United Kingdom String Inverter Market
- Competitive Landscape in the United Kingdom String Inverter Market
- Impact of COVID-19 and Demonetization on United Kingdom String Inverter Market
- Details on Current Investment in United Kingdom String Inverter Market
- Competitive Analysis of United Kingdom String Inverter Market
- Prominent Players in the United Kingdom String Inverter Market
- SWOT Analysis of United Kingdom String Inverter Market
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the United Kingdom String Inverter Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United Kingdom String Inverter Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United Kingdom String Inverter Market
7. United Kingdom String Inverter Market, By Connection Type (USD Million) 2020-2033
7.1. United Kingdom String Inverter Market Size, Share and Forecast, By Connection Type, 2020-20267.2. United Kingdom String Inverter Market Size, Share and Forecast, By Connection Type, 2027-20337.3. On-Grid7.4. On-Grid
8. United Kingdom String Inverter Market, By Phase (USD Million) 2020-2033
8.1. United Kingdom String Inverter Market Size, Share and Forecast, By Phase, 2020-20268.2. United Kingdom String Inverter Market Size, Share and Forecast, By Phase, 2027-20338.3. Single Phase8.4. Three Phase
9. United Kingdom String Inverter Market, By End User (USD Million) 2020-2033
9.1. United Kingdom String Inverter Market Size, Share and Forecast, By End User, 2020-20269.2. United Kingdom String Inverter Market Size, Share and Forecast, By End User, 2027-20339.3. Residential9.4. Commercial & Industrial9.5. Utilities
10. United Kingdom String Inverter Market Forecast, 2020-2033 (USD Million)
10.1. United Kingdom String Inverter Market Size and Market Share
11. United Kingdom String Inverter Market, By Region, 2020-2033 (USD Million)
11.1. United Kingdom String Inverter Market Size and Market Share By Region (2020-2026)11.2. United Kingdom String Inverter Market Size and Market Share By Region (2027-2033)11.3. London11.4. East Anglia11.5. Southwest11.6. Southeast11.7. Scotland11.8. East Midlands11.9. Yorkshire & Humberside
12. Company Profile
12.1. Fronius UK Ltd12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. SMA Solar Technology UK Ltd12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. ABB Limited12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. Delta Energy Systems (UK) Ltd12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. SolarEdge Technologies UK Ltd12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. Tigo Energy UK Ltd12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. Huawei Technologies Co Ltd12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. Eaton Electric Ltd12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. Others
13. Conclusion
14. List of Abbreviation
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
This seamless integration increases user experience and operational efficiency in dynamic, automated network environments such as IEMs.
United Kingdom String Inverter Market is projected to reach USD 565.15 million by 2033, growing at a CAGR of 7.28% during the forecast period.
United Kingdom String Inverter Market size from 2022. The Market is expected to reach USD 565.15 million by 2033, at a CAGR of 7.28% during the forecast period.
United Kingdom String Inverter Market CAGR of 7.28% during the forecast period.
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United Kingdom String Inverter Market size is 565.15 million from 2024 to 2033.
United Kingdom String Inverter Market Segment is covered By Connection Type, By Phase, By End User.
The Europe anticipated to have the highest market share in the United Kingdom String Inverter Market.
The key players in the market include Companies Covered Fronius UK Ltd, SMA Solar Technology UK Ltd, ABB Limited, Delta Energy Systems (UK) Ltd, SolarEdge Technologies UK Ltd, Tigo Energy UK Ltd, Huawei Technologies Co Ltd, Eaton Electric Ltd.
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