Following a decline in the third quarter of 2012, global photovoltaic (PV) inverter shipments are forecast to reach a record of 8.6 GW, according to the latest report from IMS Research, recently acquired by IHS Inc. (NYSE: IHS). An 18 percent year-on-year rise in global shipments is expected to make the fourth quarter of 2012 the largest final quarter ever recorded. However, the report predicts far more modest revenue growth due to increasing price pressure for PV inverters.
IMS Research’s analysis of shipment data collected from leading suppliers found that the first half of 2012 began strongly with over 16 GW of global shipments. However, despite strong shipments, the average price of PV inverters had fallen by almost 20 percent year-on-year in the second quarter of 2012.
Looking further forward, in 2013, in shipment terms, China is forecast to surpass Germany as the largest market for PV inverters as Feed-in Tariff amendments take full effect on the German market and China continues to rapidly deploy utility scale systems. The U.S. is predicted to become the third biggest market for PV inverters highlighting the global shift from the mature European markets to the fast growing Americas and Asia regions, according to the report.
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