IMS Research: micro-inverter firms fastest growing as PV inverter market to surpass US$7 billion

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

The latest global PV inverter market report from IMS Research paints a mixed business environment for the sector that has more than 150 active suppliers. Although having defended reasonably well against price declines, compared to the rest of the supply chain, the market research firm is forecasting inverter sector revenues to only increase by 3% in 2012, while shipments increased nearly 25%.

“In 2012, suppliers will continue to see high shipment growth but may struggle to see top- and bottom-line growth,” commented Ash Sharma, director of the IMS Research PV practice. “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.”

The report noted that the global PV inverter market actually shrank marginally in terms of revenues in 2011, but shipments increased by more than 12%. This was a bonus for the inverter market due to an inventory overhang from the prior year.

On a regional basis, the PV inverter market in Europe is expected to continue to lose market dominance as key markets such as Germany and Italy experience PV system installation declines from 2013 onwards on the back of FiT reductions.

“Europe’s share of PV inverter shipments and revenues was over 80% in 2010; however we forecast this to fall to less than 40% in 2016 and revenues not to return to 2011 levels in the next five years. This in itself presents a huge challenge to suppliers, which are mainly European, with the majority of their facilities and customers located in that region,” added Sharma.

However, the market is still growing around the world but will become more fragmented, according to the market research firm. Global shipments of inverters are forecasted to increase at a double-digit rate over the next five years, with revenues exceeding US$9 billion by 2016.

With respect to suppliers and their market share rankings little has changed over the last few years, though market leader, SMA Solar Technology continues to see its share erode. Slight gains and losses were experienced by the other major players such as Power-One, Kaco, Fronius and RefuSOL.

According to the report, the biggest market share gainers last year were those suppliers outside of the top 10 rankings, showing that the industry may not be consolidating just yet, according to IMS Research

“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.

11 May 2021
Join this Talesun Solar webinar focused on providing an insight into the company’s next-generation series of large-area, high-efficiency PERC (Passivated Emitter Rear Cell) modules. These are available in both monofacial (‘BiStar’) and bifacial (‘BiPro’) formats, using 182mm half-cut cells in 144 and 156 cell configurations and provide up to 590Wp performance with efficiencies of up to 21.2%.
11 May 2021
Green Hydrogen: always the future never the now? Join us on 11-12 & 18-19 May for a fresh look at what’s fast becoming a reality. Governments across the world have put hydrogen at the centre of their decarbonisation plans with billions of dollars allocated to stimulating the market and whilst individual strategies will differ, the theme is the same: green hydrogen is the fuel of the future. Its role goes beyond energy use and there is already an active off-take market. From the perspective of renewable generators, hydrogen can play a pivotal role in enabling unsubsidised projects to work in a low power price environment and provide another business model in areas where the grid is congested. Hydrogen could also be the driver of a new wave of renewable installations as countries’ hydrogen plans hinge on new capacity being available.
26 May 2021
Tara Doyle and Tristan Erion-Lorico of PV Evolution Labs (PVEL), will share this year’s top-performing modules and discuss key findings from PVEL’s PQP testing. Join us to explore which find out which new Top Performer category can affect project value by more than $100,000 – and which test resulted in >20% degradation.
15 June 2021
Looking at the drivers and dynamics of utility scale solar in the UK over the next five years. This event will consider the immediate challenges as we enter the build phase in the UK market where we could see as much as 3GW deployed in 2021 alone! What developments will continue the growth of 100MW+ sites and what impact will government policy have on the rate of deployment in the UK? Join leading developers and manufacturers shaping the direction of one of Europe’s most active markets and hear from speakers with a history of influencing innovation and change.
6 July 2021
Explore in depth the opportunities of the different countries via case studies, business and financial models that will foster growth in the region with particular focus on Thailand, Philippines, Indonesia, Taiwan, Korea, Cambodia, Singapore, Malaysia & Vietnam.
13 July 2021
Energy Next is a new industry exhibition focusing on the latest renewable energy and energy efficiency technology, which will be held for the first time in 2021 in Sydney, Australia alongside the Clean Energy Council’s Australian Clean Energy Summit, the peak gathering of leaders driving Australia's energy transformation. Organised by the same people behind Australia’s largest clean energy event, All-Energy Australia, Energy Next will give visitors two days of access to key suppliers in the industry, free-to-attend professional development and industry workshops, and networking opportunities to better understand clean energy issues and solutions and learn about the latest developments in this transformational, dynamic sector.

Read Next

May 5, 2021
Europe’s solar industry has lauded the inclusion of a commitment to "re-ignite" Europe's solar manufacturing sector within the European Commission’s refreshed industrial strategy.
May 5, 2021
A round-up of news from the US solar sector, including updates from the Department of Energy, private equity firm American Securities, and Indiana developer Hoosier.
May 5, 2021
New solar and wind assets in the US are now cheaper to operate than nearly 80% of existing coal-fired generators in the country and could replace the asset class while delivering numerous benefits to consumers, a report has found.
May 5, 2021
Governments worldwide must ensure that there are sufficient raw materials available to solar and energy storage developers to safeguard the energy transition.
May 5, 2021
The Australian Renewable Energy Agency (ARENA) has selected three commercial-scale green hydrogen projects that will share in AU$103 million (US$79.7 million) of funding to support their development.
May 5, 2021
SHV Energy, a Netherlands-based liquified petroleum gas (LPG) distributor, has acquired a majority stake in Indian solar developer SunSource Energy.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021