Inverter Market: $19 billion by 2017
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PDFAccording to a new report from Pike Research, the market for inverters for renewable energy applications totalled $7.2 billion in 2011. That figure will more than double over the next five years, surpassing $19 billion in 2017.
“Inverter companies must increase functionality, reduce cost, and differentiate themselves from the growing competition,” said Dexter Gauntlett, Pike research analyst. “Incumbent inverter manufacturers SMA, Fronius, Satcon, Power-One, Kaco new energy and Ingeteam have the advantages of size and market reach, but disruptive technological innovation by well-funded start-ups and early-stage companies [such as] Enphase and SolarBridge is rapidly changing the face of the industry.”
Over the next several years, Europe will continue to be the leading market for renewable energy inverters, accounting for 43% of all renewable energy inverter capacity installed through 2017, led by solar photovoltaic (PV) inverters. Meanwhile, 72 gigawatts (GW) of renewable energy inverters will be installed in the Asia-Pacific region, compared to North America’s 66GW. In all, nearly 290GW of vendor-supplied inverter capacity will be installed worldwide across four primary technologies: solar PV, small wind power, stationary fuel cells and vehicle-to-grid (V2G) enabled vehicles—between 2012 and 2017.
The report, “Inverters for Renewable Energy Applications,” analyses the global market opportunity for inverters in four key industry sectors: solar PV, stationary fuel cells, small wind and V2G-enabled electric vehicles (EVs). The report explores the key market drivers in each sector, along with an examination of technology issues and the evolving competitive landscape. Global market forecasts for inverter revenue and capacity are provided through 2017, segmented by application area and world region. An Executive Summary of the report is available for free download with registration at this website.
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