The global string inverter market was valued at USD 3.84 billion in 2023 and is anticipated to grow at a CAGR of 5.34% from 2024 to 2033. Most of the world's inverter market consists of string inverters, a popular deployment choice. However, MLPE technologies are steadily gaining recognition and market share due to reduced costs despite the global dominance of string inverters. The solar panels are organized into groups called "strings," each connected to an individual inverter that converts DC electricity from the panels into AC electricity suitable for appliances. In a system using string inverters, high-voltage electricity travels across the rooftop, posing potential hazards such as fire or arc-faulting risks during installation and when operationalized by users.
A string inverter within solar power systems converts the direct current (DC) electricity generated by solar panels into an alternating current (AC), which can be used for powering buildings, commercial premises and electrical grids. The name "string inverter" refers to its ability to regulate how electric currents flow through a series-connected set of solar panels. This type of device is an essential component that makes DC-to-AC conversion more easily. It ensures compatibility with common building electrical infrastructure while boosting production efficiency levels across larger-scale platforms such as energy grids. As previously stated, string inverters have been available for many years. Consequently, electricians are well-versed in this technology, and most of these inverters can be relied upon. In terms of cost-effectiveness, string inverters offer more affordability than micro-inverters as only one is needed per installation, whereas multiple micro-inverters would be required for each panel. String inverters are manufactured with varying designs and construction methods, yet they often contain similar components and follow comparable principles. The electronic elements found within these devices function collaboratively to achieve a seamless and effective conversion procedure. Capacitors aid in streamlining the electrical waveform, while transformers regulate voltage levels. Semiconductors (such as insulated gate bipolar transistors or metal-oxide-semiconductor field-effect transistors) are essential in converting DC into AC power output.
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This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global string inverter market based on below-mentioned segments:
Global String Inverter Market by Type:
Global String Inverter Market by Phase:
Global String Inverter Market by Application:
Global String Inverter Market by Region:
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