IMS Research's recently released World Market for Photovoltaic Inverters 2011 (4th Edition) and its Q1 2011 PV Inverter Quarterly Market Tracker. Based upon the results, Satcon Technology Corporation, a company serving the renewable energy market, achieved the second largest share in the worldwide utility-scale inverter market for 2010.

Satcon is said to have obtained commanding positions within the North American and Asian markets, and has successfully achieved significant growth in Europe.

"2010 was a marquee year for Satcon in which we achieved record bookings of over 1.1 gigawatts of our utility-ready solar inverter solutions," Steve Rhoades, president and chief executive officer at Satcon said in a statement.

Rhoades also said that the company’s focus over the past three years has been to build a world class global organization. Satcon’s continued dedication to product innovation and operational excellence, combined with the industry's most widely deployed and proven utility scale solar technologies, is now the foundation for its successful growth in all three of the world's major solar markets, added Rhoades.

IMS Research is a provider of market research and consultancy to the global electronics industry, offering syndicated market studies, bespoke research and consultancy services.

"Satcon demonstrated significant worldwide gains in 2010," said Ash Sharma, research director at IMS Research.

"It was one of the biggest market share gainers of all non-European inverter suppliers in the year and shows a significant increase in worldwide market share as well as year over year growth," Sharma added.

Satcon official also clarified that the company's successful growth continues into 2011, as reflected in its May 23, 2011 announcement of Satcon obtaining the number one market share position in total megawatts shipped for Q1 2011 in the Americas, and the number two market share position in China and the rest of Asia.