News & Analysis
PV inverter market to resume growth in 2012
Anne-Francoise Pele
7/26/2012 6:33 AM EDT
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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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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anne-francoise.pele
7/26/2012 6:56 AM EDT
To access the 5th edition of IMS Research's report on PV inverters, click here:
http://www.pvmarketresearch.com/report/Market_for_Photovoltaic_Inverters_World_2012
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DrQuine
7/28/2012 1:39 AM EDT
How is the balance between highly distributed inverters (one per cell) and centralized inverters (one per stack of solar cells) playing out? One inverter serving multiple cells in series saves wiring and provides a high voltage for the inverter to convert. However, shadows or defects affecting any individual solar cell throttles productivity of the entire series of associated cells. Dedicated inverters for each cell require many more inverters, much more wiring, and require the inverters to work at low voltages and currents.
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Sanjib.Acharya
7/29/2012 8:29 AM EDT
From the data presented, it looks like the markets in Asia are expected to grow, causing an overall growth despite the slower EMEA markets. Is there a further break-up of data available for the Asian countries? I would assume China would have the largest share in that. But not sure if this is feasible in the current economic scenario.
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