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Solar inverters hit $2.4B in 2008

Posted: 15 Jul 2009 ?? ?Print Version ?Bookmark and Share

Keywords:solar inverter? UPS? photovoltaic?

The global solar inverter market reached $2.4 billion in 2008, more than double the 2007 market, according to IMS Research, citing several companies associated with industries such as UPS, power supplies and motor drives have successfully transferred their expertise to the photovoltaic (PV) inverter market. The market research firm said this is indicative that the global supplier base for PV inverters is likely to change over the next few years.

The high growth and gross margins of the PV inverter industry have attracted UPS, power supplies and drives makers such Delta Electronics, Siemens, Riello UPS and Elettronica Santerno.

"The similarities between these technologies and solar inverters has allowed suppliers to transfer their power design expertise, along with their established sales channels and relatively large production capabilities to quickly enter the PV inverter market with good success," said Sam Wilkinson, research analyst and co-author of the study. "Growth opportunities exist in almost every segment of the PV inverter market, however many suppliers have been targeting the 100kW+ three-phase market which is anticipated to grow by 25 percent over the next five years," he added.

IMS Research said that the global PV inverter market is set to fall in 2009 due to very specific factors such as legislative changes in Spain. But it has been more resilient to the economic recession, which has affected most markets. PV inverter revenues are projected to grow at a double-digit rate over the next five years, exceeding $4 billion by 2013.

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