Wood Mackenzie's latest analysis expects market uncertainty in China, Europe and the U. to cause two consecutive years of contraction in the global solar inverter market, forecasting a fall to 577 GWac this year and 523 GWac in 2026. Gilligan told PV Tech Premium that PV inverter revenue is predicted to fall 20% in 2024. The inverter market is experiencing “growing pains” as falling prices, shifting demand and technological product changes cause problems for the sector's major Western manufacturers. The downturn follows record shipments in 2024 and reflects market uncertainty across major regions. German solar inverter manufacturer SMA Solar saw falling income, sales and earnings in 2024 as a result of weakened demand in the European small-scale solar sector and increased inventory across the continent. SMA Solar posted preliminary net losses of €117. The solar industry continues to innovate as demand reaches new sales levels.
