Last year, PV inverter shipments totaled 8.3 GW and $2.8 billion, according to IMS Research’s latest report on the global solar inverter market.
The report says that huge demand for PV inverters, fueled by uncertaintyaround several European countries’ incentive schemes, led to more than 1 million inverters shipped for the first time in 2009. This 35% increase in shipments was primarily driven by Germany, which consumed over 4.2GW of inverters and generated revenues of $1.4 billion.
"SeveralEuropean markets recorded growth above all expectations, includingGermany, Italy and Czech Republic in 2009," says IMS Research analystTom Haddon. "These three markets combined generated close to $2 billionin 2009 and are predicted to continue to drive high growth for the PVinverter market in 2010."
Haddon adds that "high demand was seenfor almost every inverter type and size, with single-phase inverterscontributing most to the industry’s growth in 2009. However, we expectthis to change in 2010."
Strong demand is projected tocharacterize the PV industry in 2010, as uncertainty regardingincentives continues. IMS Research’s analysis of the PV industry hasproduced a projected market size of 14.6 GW in 2010.
However,growth of almost 70% per year is unlikely to be sustainable in the longterm, according to the company. It is forecast that in 2011 newinstallations will be roughly the same and, as such, PV inverterrevenues will grow to around $4.5 billion.
IMS Research alsofound that SMA Solar Technology retained its position as the world’slargest solar inverter supplier, with a market share of more than 37%.However, due to extreme shortages and supply issues, the report predicts that many inverter suppliers are in a position to both gain and losemajor market share this year.
SOURCE: IMS Research