ENGLAND: Shipments of solar power (PV) equipment grew by 81 percent in the second quarter of 2009 from the first, according to latest analysis from IMS Research, indicating the worst of the industry’s downturn may now be over.
Latest quarterly data from IMS Research, which tracks PV inverter and module shipments, revealed that in spite of the difficulties the industry is facing, over 1GW of PV equipment was shipped by manufacturers in Q209.
However, for the first six months of 2009, shipments were still 34 percent down compared to the same period last year, mainly due to the sudden implosion of the Spanish market.
Research Director, Ash Sharma commented: “Although shipments were sequentially up by more than 80 percent in Q2, year-to-date sales and shipments are still considerably down on 2008. In addition, the PV market is strongly seasonal, and Q2 is typically much stronger than Q1. However, in 2007 and 2008, Q2’s sequential growth was somewhat lower, at 75 percent and 57 percent, respectively.”
Sharma continued: “Trading conditions were reported to have been very tough in Q1, however it now appears we are starting to turn a corner with more customers coming back to PV.
“In spite of this, large-scale PV plants are suffering in Europe due to difficulties in obtaining financing. Much hope is now being placed on newer markets, particularly the US and China, which are showing very promising signs. The US market is now being led by cash-rich utilities that are announcing multi-MW investments almost every week.”
Although the market is up in Q2, IMS Research still projects new installations will be 25 percent down on 2008, with around 4.5GW of new PV capacity added.
Showing posts with label IMS Research. Show all posts
Showing posts with label IMS Research. Show all posts
Tuesday, August 25, 2009
Wednesday, July 15, 2009
Solar inverter market more than doubles to reach $2.4 billion in 2008
WELLINGBOROUGH, UK: A new report from IMS Research has revealed that the global solar inverter market more than doubled to reach $2.4 billion in 2008.
Analysis has also revealed that a number of companies traditionally associated with industries such as UPS, power supplies and motor drives have found particular success in transferring their expertise to the photovoltaic (PV) inverter market.
The global supplier base for PV inverters is likely to change significantly over the next few years according to IMS Research with many new companies expected to enter this quickly growing market.
Existing suppliers of UPS, power supplies and drives, such as Delta Electronics, Siemens, Riello UPS, and Electtronica Santerno have been attracted by the high growth and gross margins of the PV inverter industry and have been able to quickly serve the growing demand to gain significant share of their booming local markets as well as establish themselves as significant global suppliers.
Research analyst and co-author of IMS Research’s ‘World Market for PV Inverters’ study, Sam Wilkinson commented, “The similarities between these technologies and solar inverters has allowed suppliers to transfer their power design expertise, along with their established sales channels and relatively large production capabilities to quickly enter the PV inverter market with good success.”
Wilkinson added “growth opportunities exist in almost every segment of the PV inverter market, however many suppliers have been targeting the 100kW+ three-phase market which is anticipated to grow by 25% over the next five years.”
Although the global PV inverter market is set to fall in 2009, this is mainly due to very specific factors such as legislative changes in Spain and it has been much more resilient to the economic downturn which has affected almost every other markets. PV inverter revenues are projected to grow at a double-digit rate over the next five years however, exceeding $4 billion by 2013.
Analysis has also revealed that a number of companies traditionally associated with industries such as UPS, power supplies and motor drives have found particular success in transferring their expertise to the photovoltaic (PV) inverter market.
The global supplier base for PV inverters is likely to change significantly over the next few years according to IMS Research with many new companies expected to enter this quickly growing market.
Existing suppliers of UPS, power supplies and drives, such as Delta Electronics, Siemens, Riello UPS, and Electtronica Santerno have been attracted by the high growth and gross margins of the PV inverter industry and have been able to quickly serve the growing demand to gain significant share of their booming local markets as well as establish themselves as significant global suppliers.
Research analyst and co-author of IMS Research’s ‘World Market for PV Inverters’ study, Sam Wilkinson commented, “The similarities between these technologies and solar inverters has allowed suppliers to transfer their power design expertise, along with their established sales channels and relatively large production capabilities to quickly enter the PV inverter market with good success.”
Wilkinson added “growth opportunities exist in almost every segment of the PV inverter market, however many suppliers have been targeting the 100kW+ three-phase market which is anticipated to grow by 25% over the next five years.”
Although the global PV inverter market is set to fall in 2009, this is mainly due to very specific factors such as legislative changes in Spain and it has been much more resilient to the economic downturn which has affected almost every other markets. PV inverter revenues are projected to grow at a double-digit rate over the next five years however, exceeding $4 billion by 2013.
Tuesday, June 9, 2009
PV market to contract in 2009
WELLINGBOROUGH, UK: According to IMS Research’s latest analysis, the global PV market is set to contract for the first time in 2009 in terms of new installations.
IMS Research’s ongoing analysis shows that although the PV market doubled in 2008 in MW terms, a contraction in shipments is anticipated in 2009. This will be caused by the sudden drop-off in demand from Spain, with its newly implemented 500MW cap.
This is likely to result in a shortfall of some 1.5-2GW in 2009. Although this will in part be counter-balanced by growth in Italy and Eastern Europe, the dramatic decline of the Spanish market will lead to an overall drop in worldwide shipments.
Research Analyst Sam Wilkinson commented: “Despite credit issues, most major PV markets look healthy and are showing promise of significant growth. However, even if their countries’ solar capacities grow at the high levels they saw in 2008, they cannot make up for the unprecedented contraction that the Spanish market will see this year.”
Wilkinson added, “Many analysts are now predicting a decline in PV module revenues this year; IMS Research, having analysed the likely performance of individual countries, believes that MW shipments will also be lower.”
In spite of this, underlying demand for PV remains very healthy; long term, double-digit annual growth rates can be expected.
The market is likely to see dramatic changes in the next few years, with the emergence of new technologies such as micro-inverters; and the development of new and attractive regional markets such as the US, which to date has made up a low proportion of the overall global market.
Difficulties in obtaining financing will restrain US market growth this year. However, in the medium term it is anticipated to become one of the largest markets for PV.
IMS Research’s ongoing analysis shows that although the PV market doubled in 2008 in MW terms, a contraction in shipments is anticipated in 2009. This will be caused by the sudden drop-off in demand from Spain, with its newly implemented 500MW cap.
This is likely to result in a shortfall of some 1.5-2GW in 2009. Although this will in part be counter-balanced by growth in Italy and Eastern Europe, the dramatic decline of the Spanish market will lead to an overall drop in worldwide shipments.
Research Analyst Sam Wilkinson commented: “Despite credit issues, most major PV markets look healthy and are showing promise of significant growth. However, even if their countries’ solar capacities grow at the high levels they saw in 2008, they cannot make up for the unprecedented contraction that the Spanish market will see this year.”
Wilkinson added, “Many analysts are now predicting a decline in PV module revenues this year; IMS Research, having analysed the likely performance of individual countries, believes that MW shipments will also be lower.”
In spite of this, underlying demand for PV remains very healthy; long term, double-digit annual growth rates can be expected.
The market is likely to see dramatic changes in the next few years, with the emergence of new technologies such as micro-inverters; and the development of new and attractive regional markets such as the US, which to date has made up a low proportion of the overall global market.
Difficulties in obtaining financing will restrain US market growth this year. However, in the medium term it is anticipated to become one of the largest markets for PV.
2009 remains cloudy for solar inverter market
WELLINGBOROUGH, UK: The global market for PV inverters is likely to fall by 27 percent this year to under $2 billion according to the latest analysis from IMS Research.
Despite the record growth seen in 2008, with the market growing by 95 percent to reach $2.5 billion, this year is set to be very different. IMS Research’s ongoing analysis of the market shows that in the first quarter of 2009 worldwide inverter shipments fell 45 percent compared to the previous year.
Research analyst and report co-author, Sam Wilkinson commented: “A sharp decrease in inverter shipments in 2009 is forecast due to four key factors: the restricted access to credit which has delayed major projects, the 500MW cap implemented by Spain’s Government, the particularly harsh winter in Europe which has delayed installations and the sudden drop in PV module prices.”
Wilkinson added: “We have seen falling module prices having an adverse affect on the market as suppliers have reduced prices so dramatically that end users are now waiting further in order to buy at the lowest possible price.”
Wilkinson continued, “Although this year the outlook for the market is not good, it is forecast to continue growing from 2010 onwards, exceeding $4 billion in the next five years.”
Despite the record growth seen in 2008, with the market growing by 95 percent to reach $2.5 billion, this year is set to be very different. IMS Research’s ongoing analysis of the market shows that in the first quarter of 2009 worldwide inverter shipments fell 45 percent compared to the previous year.
Research analyst and report co-author, Sam Wilkinson commented: “A sharp decrease in inverter shipments in 2009 is forecast due to four key factors: the restricted access to credit which has delayed major projects, the 500MW cap implemented by Spain’s Government, the particularly harsh winter in Europe which has delayed installations and the sudden drop in PV module prices.”
Wilkinson added: “We have seen falling module prices having an adverse affect on the market as suppliers have reduced prices so dramatically that end users are now waiting further in order to buy at the lowest possible price.”
Wilkinson continued, “Although this year the outlook for the market is not good, it is forecast to continue growing from 2010 onwards, exceeding $4 billion in the next five years.”
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