Global Solar Inverter Markets

Published: November 1, 2011 - 170 Pages

Table of Contents

Chapter 1 Executive Summary
Micro-inverters
Power optimizers
Advantages of Micro-inverters and power optimizers
Wafers
Polysilicon
PV Cells/Modules
Table 1-1 Inverter Production Capacity 2011 (in MW)
Emerging Market Analysis
China
Figure 1-1 China PV Installations 2006 - 2015 (MW)
India
Rest of Asia
Malaysia
South Korea
Rest of Asia
Latin America & MENA (Middle East and North Africa)
Supply Demand Scenario
Figure 1-2 Polysilicon Spot Price Trends 2008 - 2015 ($/Kg)
Polysilicon
Modules
Figure 1-3 Average Selling Price Trends, Modules 2008 - 2015 ($/Kg)
Inverters
Photovoltaic Market Assessment
Table 1-2 Year on Year PV Installed Capacity, Major Countries and Rest of the world 2008-2010 (in MW)
Table 1-3 Cumulate PV Installed Capacity, Major Countries and Rest of the World 2008-2010 (in MW)
Growth Country Market Beyond 2010
Figure 1-4 Cumulative PV Installed Capacity of Growing Markets outside EU as of 2010 (in %)
Growth Country Market Scenario
USA
Figure 1-5 Forecasted (Cumulative) PV Installations in US 2011 - 2015 (in MW)
Canada
Figure 1-6 Forecasted (Cumulative) PV Installations in Canada 2011 - 2015 (in MW)
Japan
Figure 1-7 Forecasted (Cumulative) PV Installations in Japan 2011 - 2015 (in MW)
Australia
Figure 1-8 Forecasted (Cumulative) PV Installations in Australia 2011 - 2015 (in MW)
China
Figure 1-9 Forecasted (Cumulative) PV Installations in China 2011 - 2015 (in MW)
India
European Union Market
Table 1-4 Modest Forecasted Installations, Country wise, EU 2008 - 2015 (in MW)
Table 1-5 Accelerated Forecasted Installations, by Country, EU 2008 - 2015 (in MW)
Global Market Development
Figure 1-10 PV Inverter Production Growth 2006-2010 (in MW)
Micro Inverters and Optimizers
Figure 1-11 PV Micro Inverter Shipments 2010-2015 (in MW)
Module Level Power Management Solutions
Market Trends
Political Support
PV cost reductions
Risks to industry growth
North American PV Market - USA
Table 1-6 PV Components production capacity, USA 2011 (in MW)
Figure 1-12 US PV Inverter Market 2010 - 2015 (in MW)
Figure 1-13 US PV Inverter Market (Residential) 2010 - 2015 (in MW)
European Union Market
Germany
Italy
Czech Republic
France
Belgium
Spain
Greece
Changing tide, 2010 and beyond
Figure 1-14 Cumulate PV cell and module installed capacity 2006-2010 (in GW)
Figure 1-15 Cumulate PV cell and module shipments 2006-2010 (in GW)
Figure 1-16 PV shipments of leading players 2010 (in MW)
US Market Analysis
China PV Production
Polysilicon demand and supply scenario
Figure 1-17 Polysilicon production share 2011 (MT)
Regulatory Environment
PV Subsidy Programs
Germany
Italy
Table 1-7 Fourth Conta Energia (2011 - 12) Budget cost and Cumulative Installations
North America
Asian Countries
Customer Requirements
Value offerings
Owning and Operation cost
Asset Utilization
Technology Trends
Emerging Technologies
Concentrator PV Technologies (CPV)
Building Integrated Photovoltaics (BIPV)
Competitive profiles
Table 1-8 SMA Solar Technology AG
Corporate Background
Product and Brand Portfolio
Table 1-9 SMA’s Product and Brand portfolio of PV components
Performance
Figure 1-18 Annual Revenues of SMA Technology AG, 2006-2010 (in million euros)
Figure 1-19 Inverter Sales of SMA Technology AG, 2006-2010 (in MW)
Company News
Acquisitions
Outlook
Personnel Changes
Chapter 2 Photovoltaic Components - Industry, Markets and Trends
Photovoltaic inverters
Micro-inverters
Power optimizers
Advantages of Micro-inverters and power optimizers
Islanding
Wafers
Polysilicon
PV Cells/Modules
Cost Breakout
Table 2-1 Inverter Production Capacity 2011 (in MW)
Emerging Market Analysis
China
Figure 2-2 China PV Installations 2006 - 2015 (MW)
Figure 2-3 China PV Cell Production 2005 - 2010 (MW)
Figure 2-4 China Solar Inverter Shipments 2010-2015 (in GW)
India
Figure 2-5 India Solar Insolation Levels
Rest of Asia
Malaysia
South Korea
Rest of Asia
Latin America & MENA (Middle East and North Africa)
Supply Demand Scenario
Polysilicon
Modules
Figure 2-6 Polysilicon Spot Price Trends 2008 - 2015 ($/Kg)
Figure 2-7 Average Selling Price Trends, Modules 2008 - 2015 ($/Kg) 57
Inverters
Demand Landscape
Chapter 3 PV Industry and Inverter Markets
Photovoltaic Market Assessment
Table 3-1 Cost of Solar Electricity Generation 2010 - 2030 (in USD/W)
Table 3-2 Module and cell efficiency (in %)
Source: International Energy Agency [IEA], Photovoltaic Power Systems Program.
Table 3-3 Year on Year PV Installed Capacity, Major Countries and Rest of the world 2008-2010 (in MW)
Table 3-4 Cumulate PV Installed Capacity, Major Countries and Rest of the world 2008-2010 (in MW)
Figure 3-1 Cumulate PV Installed Capacity, Major Countries and Rest of the world 2008-2010 (in MW)
Growth Country Market Beyond 2010
Figure 3-2 Cumulative PV Installed Capacity of Growing Markets outside EU as of 2010 (in %)
Growth Country Market Scenario
USA
Figure 3-3 Forecasted (Cumulative) PV Installations in US 2011 - 2015 (in MW)
Canada
Figure 3-4 Forecasted (Cumulative) PV Installations in Canada 2011 - 2015 (in MW)
Japan
Figure 3-5 Forecasted (Cumulative) PV Installations in Japan 2011 - 2015 (in MW)
Australia
Figure 3-6 Forecasted (Cumulative) PV Installations in Australia 2011 - 2015 (in MW)
China
Figure 3-7 Forecasted (Cumulative) PV Installations in China 2011 - 2015 (in MW)
India
European Union Market
EU Market Beyond 2010
Figure 3-8 Cumulative PV installations break up, EU (Cumulative) 2010
Figure 3-9 Forecasted Cumulative Installations, EU (Modest and Accelerated Scenario) 2011 - 2015 (in MW)
Table 3-5 Modest Forecasted Installations, Country wise, EU 2008 - 2015 (in MW)
Table 3-6 Accelerated Forecasted Installations, by Country, EU 2008 - 2015 (in MW)
Table 3-7 NREAP Targets and Percentage Share 2015 - 2020 (in MW)
World Market Beyond 2010
Table 3-8 World Market 2011 - 2015 (in MW)
Figure 3-10 Share of EU, Based on Modest Growth 2010 - 2015 (in %)
Figure 3-11 Current and Forecasted Share of World Market in PV Installations (Cumulative) 2010 V/s 2015 (in %)
Figure 3-12 PV Inverter Production Growth 2006-2010 (in MW)
Table 3-9 Inverter Supply and Demand 2009 - 2011 (in GW)
Global Market Development
Figure 3-13 PV Inverter Market Size 2009-2011 (USD Bn)
Micro Inverters and Optimizers
Figure 3-14 PV Micro Inverter Shipments 2010-2015 (in MW)
Figure 3-15 Forecasted PV Inverter Shipments, Modest & Accelerated Scenario 2011 - 2015 (in GW units)
Figure 3-16 PV Inverter Shipments - annual growth under moderate scenario 2010 - 2015 (in GW units)
Module Level Power Management Solutions
Table 3-10 Average Selling Price Forecast for MLPM 2010 - 2015 (in US$/Watt)
Figure 3-17 PV Revenue Growth 2005 - 2010 (in USD Billions)
Market Trends
Figure 3-18 PV Inverter Growth Projections 2015 - 2020 (in GW)
Political Support
PV cost reductions
Risks to industry growth
Table 3-11 Efficiency Road Map 2020 & 2030/50 (in %)
Figure 3-19 Average Selling Price Forecast for MLPM 2010 - 2015 (in US$/Watt)
Geographic Analysis
Table 3-12 Average Growth Rate, Forecasted Capacity and IEA road map comparison 2011 - 2020 (in %)
Figure 3-20 Cumulative PV growth under Moderate and Accelerated Scenarios 2011 - 2020 (in GW)
North American PV Market - USA
Table 3-13 PV Components production capacity, USA 2011 (in MW)
Figure 3-21 US PV Inverter Market 2010 - 2015 (in MW)
Figure 3-22 US PV Inverter Market (Residential) 2010 - 2015 (in MW) 90
European Union Market
Germany
Figure 3-23 PV Installations, Germany (Modest & Accelerated Scenario) 2010 - 2015 (in GW)
Figure 3-24 PV Inverter Production, Germany 2011 - 2015 (in GW)
Figure 3-25 PV Installations break out by wattage, Germany 2010
Italy
Figure 3-26 PV Installations, Italy (Modest & Accelerated Scenario) 2010 - 2015 (in GW)
Table 3-13 Conto Energia IV Highlights 2011 - 12
Czech Republic
France
Belgium
Spain
Greece
Table 3-14 PV Installations, Rest of EU 2008 - 2010 (in GW)
Chapter 4 PV Inverter and Components (Cell and Modules) Industry Trends
PV Inverters Industry Overview
Changing tide, 2010 and beyond
PV Inverter Components
PV cells
Modules
Thin films
Production and Shipment Trends of PV Components (Cells & Modules)
Figure 4-1 Cumulate PV cell and module installed capacity 2006-2010 (in GW)
Figure 4-2 Cumulate PV cell and module shipments 2006-2010 (in GW)
Figure 4-3 PV shipments of leading players 2010 (in MW)
Figure 4-4 Price trends of PV modules and cells 2008 - 2011 (USD/watt)
US and China Market Analysis, PV components
US Market Analysis
Figure 4-5 PV cell and module shipments 2005-2020
China PV Production
Polysilicon demand and supply scenario
Figure 4-8 Price trends of Polysilicon 2008 - 2011 (USD/Kg)
Figure 4-9 Polysilicon production share 2011 (MT)
Regulatory Environment
PV Subsidy Programs
Germany
Italy
North America
Asian Countries
Customer Requirements
Value offerings
Owning and Operation cost
Asset Utilization
System Yield
Other Requirements
Technology Trends
Thin Films
Crystalline Silicon (c-Si)
Table 4 - 4 c-Si efficiency trends
Emerging Technologies
Concentrator PV Technologies (CPV)
Building Integrated Photovoltaics (BIPV)
Disruptive Technologies
Monitoring Systems
Chapter 5 Competitive Profiles
SMA Solar Technology AG
Corporate Background
Product and Brand Portfolio
Table 5-1 SMA’s Product and Brand portfolio of PV components
Performance
Figure 5-1 Annual Revenues of SMA Technology AG, 2006-2010 (in million euros)
Figure 5-2 Inverter Sales of SMA Technology AG, 2006-2010 (in MW)
Company News
Acquisitions
Outlook
Personnel Changes
KACO New Energy, Inc.
Corporate Background
Product and Brand Portfolio
Table 5-2 KACO’s Product and Brand portfolio of PV components
Company News
Partnerships
Outlook
Power - One
Corporate Background
Product and Brand Portfolio
Table 5-3 Power-One Product and Brand portfolio of PV components
Performance
Figure 5-3 Sales revenue trend of Power-One, 2008-2010 (in $ Mn)
Company News
Acquisitions
Outlook
Personnel Changes
Danfoss Solar
Corporate Background
Product and Brand Portfolio
Table 5-4 Danfoss Product and Brand portfolio of PV components
Performance
Figure 5-4 Sales revenue trend of Danfoss, 2007-2010 (in DKK Mn)
Outlook
Personnel Changes
Advanced Energy
Corporate Background
Product and Brand Portfolio
Table 5-5 Advanced Energy Product and Brand portfolio of PV components
Performance
Figure 5-5 Sales revenue trend of Advanced Energy, 2008-2010 (in $ Mn)
Company News
Acquisitions and Diversification
Outlook
Personnel Changes
Suntech Power
Corporate Background
Product and Brand Portfolio
Table 5-6 Suntech Power Product and Brand portfolio of PV components
Performance
Figure 5-6 Sales revenue trend of Suntech Power, 2007-2011E (in $ Mn)
Figure 5-7 PV Shipments of Suntech Power, 2007-2011E (in MW)
Company News
Joint Ventures and Partnerships
Outlook
Personnel Changes
First Solar
Corporate Background
Product and Brand Portfolio
Table 5-7 First Solar Product and Brand portfolio of PV components
Performance
Figure 5-8 Sales revenue trend of First Solar 2007-2011E (in $ Bn)
Figure 5-9 Growth in production capacity, First Solar 2005-2012E (in MW)
Figure 5-10 Decreasing manufacturing cost, First Solar 2006-2010 (in $/watt)
Company News
Acquisitions
Outlook
Personnel Changes
JA Solar
Corporate Background
Product and Brand Portfolio
Table 5-8 JA Solar Product and Brand portfolio of PV components
Performance
Figure 5-11 Sales revenue trend of JA Solar 2006-2010 (in RMB mn)
Company News
Acquisitions
Outlook
Personnel Changes
Trina Solar
Corporate Background
Product and Brand Portfolio
Table 5-9 Trina Solar Product and Brand portfolio of PV components 160
Performance
Figure 5-12 Sales revenue trend of Trina Solar 2006-2010 (in $ Bn)
Company News
Partnerships
Outlook
Personnel Changes
Yingli Solar
Corporate Background
Product and Brand Portfolio
Table 5-10 Yingli Solar Product and Brand portfolio of PV components
Performance
Figure 5-13 Sales revenue trend of Yingli Solar 2007-2010 (in $ Bn)
Company News
Joint Ventures
Outlook
Satcon
Corporate Background
Product and Brand Portfolio
Table 5-11 Satcon Solar Product and Brand portfolio of PV components
Performance
Figure 5-14 Sales revenue trend of Satcon 2006-2010 (in $ Mn)
Company News
Partnerships
Outlook
Personnel Changes
Sunpower
Corporate Background
Product and Brand Portfolio
Table 5-12 Sunpower Solar Product and Brand portfolio of PV components
Performance
Figure 5-15 Sales revenue trend of Sunpower Corporation 2006-2010 (in $ Bn)
Company News
Acquisitions
Outlook

Abstract

The last decade witnessed an unprecedented boom in the Photovoltaic industry, leading to a rise in renewable energy generation the world over. Rising crude oil prices and growing environmental awareness prompted many economies to develop a cleaner alternative source of energy. Among renewable energy industries, the PV industry has been one of the fastest growing industries in the last decade with large scale installations in developed and developing economies. Since 2000, cumulative PV installations have grown at a CAGR of 35% reaching 40 GW in 2010, and we estimate the market to touch 400 GW by 2020. The majority of the installations are centered in EU countries with Germany, Italy, Czech Republic, Spain, France, Belgium and Greece constituting the major share. A series of restrictions by the governments and curtailing of subsidies to offset the growing budget deficits are likely to impact future growth in EU markets. In the next decade we expect a shift in PV growth markets to the non-EU countries of North America (US and Canada) and Asia, led by China and India.

PV components production and shipments grew in perfect correlation with the PV industry growth. The unsustainable industry growth of the last decade resulted in a widening supply and demand gap and rising prices. Technological changes and the emergence of disruptive technologies coupled with capacity expansions of major players led to falling prices of PV components.

Our report on the PV component market has a detailed analysis on PV cells, modules, wafers, polysilicon and inverters. The main focus of the study is on PV inverters, which is currently valued between $5.5- 5.8 Billion and we estimate the market to touch $7.5 Billion in 2015. This market research report also provides information on historical developments in PV inverter markets as well as on growth, size, volume of business and general trends in technological developments.


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