Analysis from Wood Mackenzie shows that global demand for inverters increased by 18% last year. The top 10 suppliers alone have accounted for 76% of the global trade market share.
The global solar inverter market has increased by 18% in 2019, according to new data from the U.S. analyst Wood Mackenzie.
WoodMac analysts said there were two very important trends: Demand from the U.S. as a result of decreased Solar Investment Tax Credit at the end of last year and the increase in demand for the facilitation of more products for currently active solar plants.
According to researchers from WoodMac, the U.S., although the market has slowed down a bit, Asia Pacific has always been the focus of the global solar market.
In the past 5 years, the global inverter market has witnessed the top 3 leading inverter manufacturers, namely Huawei, Sungrow and SMA.
Spain Power Electronics Company claims its fourth place thanks to its dominance in the domestic market, even after losing market share in the U.S. to Sungrow in the year.
Italian manufacturer Fimer saw the biggest growth, climbing to the fifth place after taking over the solar inverter business of Swiss company ABB.
The top five giants ceded 1% of control over some businesses to regain 56% of the global trade market. WoodMac said the 10 largest inverter manufacturers account for 76% of global trade.
Translated from pv-magazine
