Global PV Inverter Market Pattern Start Change

The revenue of Worldwide PV inverter last year grew to $7.1 billion from $6.7 billion in 2011 with growth rate reaching 5%, mainly driven by the good performance in Asian market especially in China and Japan. This is the first time for global PV inverter exceeding $ 7 billion, according to IMS Research. 

 

“Despite lower PV installation growth and rapid price declines, inverter sales have managed to generate growth, all be it at just low single-digit levels—a notable achievement amid such weak market conditions in the solar market,” said Sam Wilkinson, PV inverter research manager for IHS. “Growth was driven by a strong increase in sales in Asia in the fourth quarter, which managed to offset a sequential decline of more than 20 percent in the Europe/Middle East/Africa region (EMEA). This helped to drive annual shipments to 31 gigawatts (GW) in 2012, up from 27 GW in 2011.”

 

Quarterly shipments of Asia- the only region showing significant increase in the fourth quarter rose by almost 1 GW, expanding annual shipments by 63% year over year. 

 

Market shifting to Asian market brings several changes to the supply chain. First, despite the still dominated position, European and US suppliers suffered a sharply decline in shares. For instance, the combined market share of the three largest European suppliers reduced its market occupancy to less than 30% from almost 50% in the first quarter. 

 

Second, small suppliers surge, resulting in significant change in ranking below the three leaders. An Asian supplier and a microinverter supplier appeared in the Top 10 for the first time in 2012, reflecting the changing supplier landscape as markets outside of Europe begin to account for a growing share.