SMA Retains Top Ranking in Global PV Inverter Market, but Competitors Are Gaining, IHS Says
May 12 2016 - 3:01AM
Business Wire
SMA retained its position as the world’s largest photovoltaic
(PV) inverter supplier in 2015, maintaining the company’s 14
percent share of global PV inverter revenue it held in 2014. SMA
had previously dominated the global PV inverter market, but the
company has been challenged to maintain its market position
following the decline of the European solar market, according to
IHS Inc. (NYSE: IHS), the leading global source of critical
information and insight.
“In maintaining a flat market share compared to 2014, SMA ended
five consecutive years of market share declines,” said Cormac
Gilligan, research manager of IHS technology. “A major contributor
to SMA’s improved performance was its large market share in the
U.S. and other high-growth utility-scale markets. The company also
updated its inverter portfolio, which meant it had a competitive
offering in residential, commercial and utility-scale and other
major segments of the market. However, several suppliers also made
significant market-share gains, in particular, Huawei, Solaredge
and Sungrow, all of which became top-five suppliers in 2015.”
Chinese suppliers grew substantially on the back of booming
demand in the country’s domestic market. Shipments to the world’s
largest PV market exceeded installations by a significant margin,
as inverters were shipped ahead of strong installation activity
continuing into the first half of 2016. Having carried out
extensive data checks with Chinese suppliers, IHS estimates that
shipments reached 22 gigawatts (GW).
Huawei, the Chinese telecommunications giant, became the largest
supplier worldwide in megawatt-shipments in 2015, according to the
IHS PV Inverter Intelligence Service. The company has been highly
aggressive in promoting the use of its three-phase, low-power
inverters in the utility-scale segment, and it was able to secure a
significant share of its domestic market as well as 9 percent share
of global revenue. Another Chinese company, Sungrow, also
benefitted from rapid growth in its domestic market, maintaining a
significant market share, and enabling the company to increase its
global market share. As a result, it was ranked as the largest
three-phase, high-power inverter supplier in 2015 for a third
consecutive year.
With growth in the Chinese domestic market expected to slow in
2016, due to uncertainties around future incentive levels and
grid-connection and payment delays that are likely to stifle
demand, Chinese suppliers are increasingly focused on more
profitable export markets. They are also continuing to gain
acceptance in international markets, where they have struggled in
the past, due to concerns over quality, reliability and after-sales
service. For the first time in 2015, both Sungrow and Huawei
exceeded 1 GW of PV inverter exports; Sungrow was the largest
Chinese exporter in 2015.
Revenue share for Israeli company Solaredge climbed 3 percentage
points, to reach 6 percent in 2015. “This milestone was largely
aided by its success in winning over major customers in U.S.
residential and small commercial markets,” Gilligan said.
Japanese company Omron led the global single-phase market in
megawatt-shipments in 2015 for the third year in a row, thanks
almost exclusively to its large market share in its domestic
residential market. “As the Japanese residential market is forecast
to decrease, Omron and other Japanese manufacturers are becoming
increasingly focused on expanding into new international markets,
in order to safeguard against further market share declines,”
Gilligan said.
In the utility-scale market, TMEIC, Schneider Electric, ABB, GE
and other large industrial suppliers could expand rapidly into new
markets and make inroads into SMA’s business by offering compatible
central inverters with 1500 volt technology. “In the solar world,
bankability and a wide geographical footprint are increasingly
important,” Gilligan said. “These types of suppliers can provide
both.”
About IHS (www.ihs.com)
IHS (NYSE: IHS) is the leading source of insight, analytics and
expertise in critical areas that shape today’s business landscape.
Businesses and governments in more than 140 countries around the
globe rely on the comprehensive content, expert independent
analysis and flexible delivery methods of IHS to make high-impact
decisions and develop strategies with speed and confidence. IHS has
been in business since 1959 and became a publicly traded company on
the New York Stock Exchange in 2005. Headquartered in Englewood,
Colorado, USA, IHS is committed to sustainable, profitable growth
and employs nearly 9,000 people in 33 countries around the
world.
IHS is a registered trademark of IHS Inc. All other company and
product names may be trademarks of their respective owners. © 2016
IHS Inc. All rights reserved.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160512005242/en/
IHS Inc.Lee Graham, +1-303-397-2468lee.graham@ihs.comorPress
Team, +1-303-305-8021press@ihs.com
IHS (NYSE:IHS)
Historical Stock Chart
From Aug 2024 to Sep 2024
IHS (NYSE:IHS)
Historical Stock Chart
From Sep 2023 to Sep 2024