New York, July 27, 2023 (GLOBE NEWSWIRE) — The global string inverter market size is projected to expand at ~11% CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 48 billion by the end of 2035, up from a revenue of ~USD 16 billion in the year 2022.Proactive efforts by the government to provide electricity in rural regions are majorly expanding the market growth. In 2022, the government of India initiated a plan to supply electrical current to homes of around 18,000 villages and the main target was increasing the installation capacity of renewable energy totaling 175 GW.
(GlobeNewsWire)