|Xantrex, the largest supplier of solar inverters to the North American market is to be sold to Schneider Electric for approximately $500 million according to recent company reports. This acquisition comes only a year after Schneider Electric purchased American Power Conversion (APC) to form the world’s largest supplier of uninterruptible power supplies (under the name APC-MGE). |
In 2007, IMS Research ranked Vancouver-based Xantrex as one of the top 5 largest suppliers of solar inverters worldwide and the largest supplier to the Americas market. Research Director Ash Sharma commented “The likely acquisition by Schneider Electric highlights the attractiveness and potential of the solar inverter market. Xantrex’s strong position in North America and also in parts of Europe makes it a particularly attractive target for acquisition, especially given that the USA solar inverter market is anticipated to grow five-fold over the next five years.”
This acquisition is likely to be one of many in future, as other suppliers look to enter this exploding market. According to latest research from IMS Research, the global solar inverter market is forecast to grow to more than $2 billion by 2010 driven by government financial incentives, and growing global concerns over global warming and energy security.