PARIS – The global photovoltaic (PV) inverter market shrank in terms of revenues in 2011 but will return to growth in 2012, exceeding $7 billion, according to IMS Research.
In its annual report, titled "The World Market for PV Inverters", IMS Research said it expects shipments will grow by almost 25 percent. In 2011, global inverter shipments grew by 12 percent, to 27 GW. European inverter market shrank significantly, and its market dominance is expected to continue to wane because Germany and Italy are facing reductions in their annual installations.
In a statement, Ash Sharma, director of the IMS Research PV practice, commented: “In 2012, suppliers will continue to see high shipment growth but may struggle to see top- and bottom-line growth. Inverter prices will see another double-digit drop in 2012, partly driven by product mix change, and shifts in demand to lower cost countries, but also standard price erosion as major markets stagnate.”
According to IMS Research, global shipments will continue to grow at a double-digit rate over the next five years, with revenues exceeding $9 billion by 2016.
Suppliers in the top five remained unchanged. Solar Technology maintained its number one position in 2011 despite losing further market share, followed by Power-One, Kaco, Fronius and RefuSOL.
The report, however, indicated that the biggest market share gainers in 2011 were outside of the top 10, proving that the industry may not be consolidating just yet. “Start-ups Enphase Energy and SolarEdge were two of the biggest market share gainers in 2011, whilst we also saw considerable gains from Advanced Energy and Emerson,” concluded Sharma.------------------------
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