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Bharatbook.com : Europe PV Inverter Market Expected to Exceed $3 Billion in Revenues by 2015
Bharatbook.com added a new report on "Europe PV Inverter Market Analysis and Forecasts to 2015" which gives the development and trends towards PV Inverter Market in Europe.
This report gives an in-depth analysis of the Europe photovoltaic (PV) inverter market and provides revenue forecasts up to 2015. The research analyzes the competitive landscape, key trends, purchase criteria, pricing, human resources, major issues and growth opportunities in the Europe PV inverter market. The study identifies potential hotspots for PV inverters in Europe and analyzes growth opportunities in emerging markets. The study provides detailed analysis and revenue forecasts for key countries namely Germany, Spain, Italy, France and the UK. This coupled with elaborate profiles of key market participants and information on important deals provides a comprehensive understanding of the market’s competitive scenario. ( http://www.bharatbook.com/
Europe PV Inverter Market Expected to Exceed $3 Billion in Revenues by 2015
The European solar PV Inverters market value has increased from $84 million in 2001 to $2,482 million by 2008 at a CAGR of 62.19% during 2001-08. The market in expected to drop in 2009-10 due to the economic crisis and the price correction in the international market for PV equipments market includes Inverters. Against this backdrop, it is expected that the European solar PV inverters market will increase from the present levels to reach $3,468 million by 2015. The increase in PV system installations will increase the volume sales thereby increasing the revenues.
Government Incentives and Reduction in Module Prices are the Major Drivers for the Development of PV Inverter Market in Europe
Feed-in tariff (FIT) is the primary driver for the growth of PV inverters market in Europe. FIT is successfully introduced by over sixteen EU countries including major countries such as Germany, Italy and Spain. The federal governments have introduced financial incentives to offset the high investment needed for solar PV power generation. Major European countries have introduced various subsidy and incentive programs to compensate for the initial investments required for the development of large scale solar parks. These cost offsets led to large scale PV development thereby increasing the demand for Inverters in the region. The reduction in module prices, which comprises of 50-60% of the PV system cost, is another critical factor for the uptake of solar PV in the region thereby increasing the demand for PV inverters. It is expected that further technological advancements will reduce modules and inverter prices by 30-40% from the present levels.
Spain and Germany will continue to lead the PV Inverter Market Development in the Region
Spain overtook Germany to become the largest PV inverter market in Europe. The major reason for the country to lead the European Union in 2008 is due to the increase in annual PV installations. Spain holds over 40% share of the European PV inverter market followed by Germany which has a share of around 25%. Czech Republic, Portugal, Greece and Bulgaria are the emerging countries for PV inverters market development in the region. The Emerging countries are expected to be the major contributors for the future growth of PV inverters market in Europe.
Global PV Inverters Market is dominated by the European Players
European PV inverter manufacturers dominate the global PV inverters market. Italy based SMA Solar Technology is the largest PV inverter manufacturer in the world with a share 44% of the total inverters market. SMA is followed by Kaco New Energy (10%), Fronius (9%), Ingeteam Energy (7%) and Siemens (6%). The top five inverter manufacturers in the world are based out of Europe and only two companies of the top ten namely, Power-One and Phoenixtec are from rest of the world. Europe is able to position itself as a key location for PV inverter manufacturers mainly due to strong governmental support in the form of financial incentives.
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