Global PV inverter market development trend

Date: 01/26 Viewed (3143) Label: PV inverter market

The PV inverter market is now gradually turning to Asia and the US from Europe. In IHS’ 2014 photovoltaic (PV) inverter suppliers report for 2013, China and Japan appeared on it and became the eye-catching players in this industry. One Chinese solar company Sungrow was ranked the fifth, and three Japanese companies were ranked the third, fourth and seventh respectively. Two American companies also appeared on it ranked the sixth and ninth. Only four European solar firms were ranked on the list.  

Compared with the statistics shown in 2008, eight solar inverter firms appeared on the list and obviously played the leading role in this industry. As technology improved, environment issues worsened, and people’s realization of using solar power grew, the PV inverter market is gradually turning to the East from the West.

The US is also an important player of this industry, but it appears pale compared with China and Japan. The two Asian countries accounted for 35% of the total global PV inverter revenue, a number that has greatly surprised the world. The Chinese manufacturer Sungrow was thought to be the leading member in China’s solar PV inverter market, for it had already shipped over 2 gigawatts (GW) of inverters by the end of 2013. Japan’s PV installations are estimated to have grown nearly threefold, making up 17 percent of the global demand.

In addition to this report, more pieces of news about Asia’s solar market show Asia is growing fast in this industry. Although China’s solar modules have been imposed heavy tariffs by the US government, China’s solar development will never stop because of this. Japanese will continue its solar inverter development as well. Simultaneously, the Indian market is turning more and more prosperous in solar power development. President Obama’s current visit to the country is an obvious sign for Indian solar market’s further development. Although India is today only a big consumer, it will become a manufacturer soon in the years to come.

Following these great players, Bangladesh is now working to provide electricity to the entire country through residential solar PV systems by 2021. Currently, 15 million families in the country are powered by these systems, which were also a good contributor for the solar inverter development of China, Japan and the US. Residential solar market will become another trend, and PV inverters specially made for the market will gradually become popular too.