Reasons for the decline in PV inverter shipments

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4 FAQs about Reasons for the decline in PV inverter shipments

Why are global PV inverter shipments rising?

This is mainly driven by strong growth in markets in Europe, India, and Latin America where government support increased to meet decarbonisation goals. Wood Mackenzie research analyst Annie Rabi Bernard said: “Despite soaring raw material prices, supply chain challenges and delayed constructions, global PV inverter shipments continue to rise.

Why are inverter shipments falling?

European inverter shipments are on track to drop from 88 GWac to 83 GWac this year, before falling beneath 75 GWac annually by 2032 due to reduced utility-scale capture prices and inventory challenges. In the U.S., the inverter market is expected to drop by 22% next year as Inflation Reduction Act tax credits are phased out.

Will China's solar inverter market decline 5% in 2025?

China's solar inverter market is set to decline 5% in 2025 to 304 GWac, representing the first annual decline in 2019. Nevertheless, the country is still expected to maintain its dominance in the global market, accounting for over 2.9 TWac of cumulative inverter demand through to 2034, according to Wood Mackenzie's forecasts.

Will the solar inverter market recover?

By the early 2030s, Wood Mackenzie is projecting the solar inverter market to recover and surpass the 2024 market size with electrification, AI demand growth and a cyclical repowering market set to provide a solid foundation for inverter demand.

Wood Mackenzie predicts 2-year decline in global solar inverter demand

Wood Mackenzie''s latest analysis expects market uncertainty in China, Europe and the U.S. to cause two consecutive years of contraction in the global solar inverter market, forecasting a
Solar Inverter Shipments Forecast: Global Contraction in 2025-2026

Global solar inverter shipments are forecast to decline through 2026, with regional contractions in China, Europe, and the U.S. driven by overcapacity, policy shifts, and competition,
Global solar inverter market seen to decline in both 2025 and 2026

After record shipments in 2024, the global solar inverter market is set for a two-year downturn, shrinking 2% to 577 GWac this year and another 9% to 523 GWac in 2026, according to
Global solar inverter market faces two-year decline before stabilising

The global solar inverter market will contract for two consecutive years, declining 2% to 577 Gigawatts AC (GWac) in 2025 and a further 9% to 523 GWac in 2026, according to Wood
Solar inverter market to shrink in 2025-26 amid global

Inverter prices are falling across the board, Woodmac said, driven primarily by Chinese manufacturing competition and technological advances.
Global solar inverter market faces two-year decline before stabilizing

Inverter pricing continues its downward trajectory across all product categories, driven primarily by Chinese manufacturing competition and technological advances.
WoodMac: Global solar inverter market expected to shrink in next 2

Inverter pricing continues its downward trajectory across all product categories, driven primarily by Chinese manufacturing competition and technological advances.
Global Solar Inverter Market To Shrink Through 2026

The decline follows record shipments of 589 GW AC in 2024 (see China Leads 589 GW AC Global PV Inverter Shipments In 2024). Wood Mackenzie links the decline to ongoing market
Global Solar Inverter Market Set To Decline For Two Years Before

Following record-breaking inverter sales in 2024, there has been a decline, indicative of growing concern in major solar markets, including China, Europe, and the US.
Wood Mackenzie predicts 2-year decline in global solar inverter demand

Wood Mackenzie says the downturn follows record shipments in 2024 and reflects market uncertainty across China, Europe and the United States. China''s solar inverter market is set