According to Global Data, the global market for photovoltaic inverters will shrink from $6.3 billion in 2017 to $3.7 billion in 2022 due to falling prices.
The market value of the global PV inverter will be reduced to $3.7 billion by 2022.The global pv inverter market will be negative in the next five years.
From 2017 to 2022, the market will show a negative annual compound growth rate of 10.15%.Meanwhile, the total installed capacity for 2018-2022 will be close to 370.6 gigawatts, up from 316.2 gigawatts from 2012 to 2017.
"Various reasons include but not limited to continued price pressures on equipment suppliers, anti-dumping duties imposed by the us on Chinese modules, the depreciation of the euro and the yen and the reduction of the minimum import price. In the PV industry, buyers are sensitive to price, which brings constant price pressure to equipment suppliers. Subha Krishnan, an electricity analyst at GlobalData, explains.
By 2022, the Americas will surpass the Asia-pacific region as the world's largest, with the Asia-pacific market share dropping from 59% to 38%, while the Americas from 27% to 41%. According to Global Data, the share of Europe, the Middle East and Africa will grow from 14 percent to 21 percent by 2022.
In 2018-2022, PV inverters have a cumulative market value of about $22.2 billion, with an annual market value of $4.4 billion.