Report ID: SQMIG20E2043
Report ID:
SQMIG20E2043 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
86 |
Figures:
76
String Inverter Market size was valued at USD 15.8 Billion in 2022 and is poised to grow from USD 17.55 Billion in 2023 to USD 36.67 Billion by 2030, at a CAGR of 11.1% during the forecast period (2023-2030).
The demand for solar components has experienced substantial growth in recent years due to the widespread adoption of renewable energy sources, particularly solar PV deployment. Developing countries are increasingly setting targets and implementing initiatives to decrease reliance on fossil fuels and improve energy security, which further drives the need for solar energy systems.
String inverters are in high demand because of their excellent efficiency, enabling them to optimize energy production in solar systems. Additionally, the market demand for solar energy systems is expected to be boosted by various incentives and regulatory measures introduced to promote the adoption of sustainable technologies.
US String Inverter Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG20E2043