Power Electronics market leader in solar inverters in the Americas
Power Electronics is the solar inverter manufacturing company that concentrates the largest market share in North America in 2018.
The company brings together 31% of total orders for solar inverters in the U.S. and Canada.
With 20% of the market, Power Electronics also leads sales in Latin America.
Power Electronics ranks fourth in the world market for solar inverter manufacturing companies.
Valencia. May 9, 2019
Power Electronics has become the leading company in shipments of solar inverters for utility-scale photovoltaic plants in North America and Latin America, according to the 2019 Global Solar PV Market Report about Market Shares and Shipment Trends for solar plants published by Wood Mackenzie Power & Renewables.
The report, which shows the market share of each of the international manufacturing companies, reveals that Power Electronics accounted for 31% of the North American market of solar inverters, doubling the percentage of its main competitors. According to the study, the company has registered almost double the shipments made in 2017, jumping from 18% to 31% market share from 2017 to 2018.
According to the data of the study, Power Electronics has distributed 3,628 MWac in 2018 more than twice the previous year, 1,684 MWac, leading a market that grew by 21% year-over-year and becoming more concentrated among the top five inverter vendors in the U.S. and Canada that accounted for 73% of the market, up from 61% in 2017.
Leaders in Latin America and fourth worldwide
According to the same report, Power Electronics has become a leader in PV inverter shipments in Latin America with a market share of 20%. According to the study, it has grown three points in relation to the previous year, jumping from 17% to 20% of the total orders placed during the year.
After several years growing Power Electronics has positioned itself among the five largest manufacturers of solar inverters in the world. With 6% of the world shipments, the company is in fourth position, with an exponential growth of 118% year-over-year, grewing from 3% market share in 2017 to 6% market share, more than doubling its shipments.
These results are the result of the company’s firm commitment to innovation and customer service based on the personal and direct attention that has led it to be present today in more than 100 countries.
In addition to this commitment to internationalization, Power Electronics has based its growth on the development of cutting-edge technologies in order to provide the highest reliability and comply the international certification standards. In this regard, the solar inverters HEM and HEMK stand out, the second generation of 1500V, which offer the advantages of central and string inverters, with field replaceable units and high durability, reducing to the fullest the installation and maintenance costs.