A recently released report from Frost & Sullivan for the European Inverter Market for Renewable Energy Systems, finds that the market earned revenues of €654.4 ($1,004) million in 2007 and estimates they will reach €3,105 ($4,763.7) million in 2014.
According to the report, Spain, backed by solid growth in its solar energy industry, moves to the forefront of the European inverter market for renewable energy systems, as Germany becomes a backseat driver.
“A booming market in Spain is rewriting market dynamics for renewable energy-based inverters. Moreover, new incentives for green electricity in Portugal and Greece are set to accelerate the pace of growth in the future,” says Frost & Sullivan Research Analyst Chandni Raj. “Across Europe, renewable energy-based inverters registered growth of 36.7 per cent in 2007 as compared to 2006.”
Some major players in this product segment are Conergy, Fronius and SMA, from Germany, Magnetek, from the USA, Mastervolt, from the Netherlands, Xantrex, from Canada and the Spanish company Ingeteam.
Ingecon Sun inverter from Ingeteam