IMS Research's latest quarterly market report shows that the first quarter of 2011, the global PV inverter shipments declined to 4GW 39% less than the previous quarter, but compared with the first quarter of 2010, an increase of 31%. The increase in channel inventory in markets such as Germany, Italy and France led to the first quarter results were disappointing.

    The report is based on data of actual sales and shipments of the 35 largest PV wind turbine inverter suppliers, including the largest manufacturers in China. Although the first quarter of each year for PV inverter industry has always been relatively weak demand season, but shipments continued decline of 39% or numbers far greater than the 17% in the same period last year.

    IMS Research's PV Research Director Ash Sharma said: "2011 first quarter for inverter suppliers is a difficult season. Inventory backlog began in late 2010, was canceled as a large number of season orders, inventory levels continued to rise. As of the first quarter of 2011, shipments consecutive two quarters of decline. "

    From the end of 2010, Germany began in the inverter market underperforming, the same is true of the 2011 first quarter. From IMS Research began tracking survey quarterly shipments began, the Italian market to 1.2GW shipments in the first quarter of 2011, more than Germany for the first time. Due to the uncertainty triggered by the first quarter of 2011, the Italian feed-in tariff policy review, making the financing of photovoltaic projects to stop, the market stagnated, these inverters are likely all become stock. Sharma said: "photovoltaic installation project will continue to enjoy the the previous Conto Energia Act under the feed-in tariff, so even though this season the Italian market a great deal of uncertainty, the grid tie power inverter demand remains strong."

    Germany in the inverter market share decline in the suppliers who have a large degree of manifestation of many German suppliers in the global market share is declining. The quarterly decline in performance of the market leader SMA Solar Technology AG. U.S. suppliers such as Satcon and Advanced Energy less susceptible to the impact of the European market continues to perform eye-catching.

    GW inventory backlog due to the whole supply chain, IMS Research predicts slow growth in the second quarter of 2011, demand for inverters. European demand is weak enough to quickly digest inventory.