PARIS – The global photovoltaic (PV) inverter market shrank in terms of revenues in 2011 but will return to growth in 2012, exceeding $7 billion, according to IMS Research.
In its annual report, titled "
The World Market for PV Inverters", IMS Research said it expects shipments will grow by almost 25 percent. In 2011, global inverter shipments grew by 12 percent, to 27 GW. European inverter market shrank significantly, and its market dominance is expected to continue to wane because Germany and Italy are facing reductions in their annual installations.
In a statement, Ash Sharma, director of the IMS Research PV practice, commented: “In 2012, suppliers will continue to see high shipment growth but may struggle to see top- and bottom-line growth. 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.”
