Global market for renewable inverters to hit $19bn

The global market for inverters in the renewable energy industry is expected to more than double to almost hit $20bn by 2017, according to new research.

Inverters switch direct current to alternating current and play a significant role in large scale and distributed renewable energy generation.

A study by US firm Pike Research found that the market for inverters for renewable energy applications was $7.2bn in 2011. However, it forecasts that over the next five years this figure will pass $19bn.

Pike predicts that over the next few years, Europe will continue to be the leading market for renewable energy inverters, accounting for 43 per cent of all capacity installed, led by solar PV inverters. 

Meanwhile, 72 GW of renewable energy inverters will be fitted in the Asia Pacific, compared to North America’s 66 GW. 

However, Pike also issued a warning to inverter manufactuers. Analyst Dexter Gauntlett said the harmful effects of falling solar PV module prices had affected “all but the most efficient manufacturers”. 

He added: “In order to avoid a similar fate, inverter companies must increase functionality, reduce cost, and differentiate themselves from the growing competition.”


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...