Solar

A New Phase for the PV Inverter Market

With the PV inverter market growing so rapidly, product shortages are becoming increasingly acute around the world, especially in Europe. A new report from IMS Research highlights the numbers behind that growth: the PV inverter market shipped 8.3 GW of devices in 2009, totaling $2.8 billion in revenue.

With the PV inverter market growing so rapidly, product shortages are becoming increasingly acute around the world, especially in Europe. A new report from IMS Research highlights the numbers behind that growth: the PV inverter market shipped 8.3 GW of devices in 2009, totaling $2.8 billion in revenue.

IMS Research’s new report, “The World Market for PV Inverters – 2010,” has revealed that huge demand for PV inverters, fueled by uncertainty around several European countries’ incentive schemes, led to more than 1 million inverters being shipped for the first time in 2009. This 35% increase in shipments was primarily driven by Germany which consumed over 4.2 GW of inverters and generated revenues of $1.4 billion. Manufacturers have reportedly had troubles keeping up with that demand.

IMS Research’s analysis of the PV industry has produced a projected market size of 14.6 GW in 2010. However, growth of almost 70% per year is unlikely to be sustainable in the long term. In its forecast for 2011, IMS projects that growth will fall flat.

IMS Research also found that SMA Solar Technology retained its position as the world’s largest solar inverter supplier, with a market share of more than 37%; however, due to extreme shortages and supply issues, IMS Research predicts many inverter suppliers are in a position to both gain and lose major market share in 2010.