Steady growth in the PV market is delivering significant orders for inverter suppliers. IHS published figures today revealing that shipments to EMEA, the Americas and Asia grew by more than 30% in Q1 2015, on a YoY basis. The UK continued to be Europes powerhouse, accounting for more than half of the 2.7 GW of EMEA shipments.
Shipments to Asia totaled 6 GW, with China accounting for 2.5 GW and Japan 2.7 GW.
In terms of suppliers, IHS found that consolidation continues to occur. The top four inverter suppliers increased market share for the quarter. Together they account for 736% of the market, an increase of 7.3%.
IHS was positive in its appraisal of SMAs performance in Q1, describing it as outstanding and noting that SMA has clawed back some market share.
Power Electronics entered the IHS top 10 ranking for the first time in Q1, taking out the 9%. IHS attributes Power Electronics success as being attributable to its strong performance in the UK, where it recently recorded 1 GW of installations. Power Electronics now has global market share of 4%.