What is the global PV inverter market share in 2022?
In terms of market concentration, the top 5 vendors (Huawei, Sungrow, Ginlong, Growatt, and GoodWe) shipped over 200 gigawatts (GW) of inverters, accounting for 71% of the total global PV inverter shipments in 2022 – a year-over-year growth of 8%. The market share for vendors in positions 11-20 shrank to 13% in 2022 compared to 16% in 2021.
What are the top solar inverter vendors in 2022?
Global inverter shipments increased to 330 GWac with Huawei, Sungrow, Ginlong, Solis, Growatt and GoodWe named as the top vendors. The top 10 global solar inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to a recent study by Wood Mackenzie.
Why is PV inverter market booming?
The report reveals that the top 10 PV inverter vendors accounted for 86% of the market share, representing a 4% increase from the previous year. The strong growth in PV inverter shipments can be attributed to the increased global demand for solar energy, which rose to 201 GWac in 2022.
What is the market share of Huawei & Sungrow?
Huawei and Sungrow covered 52% of the market cumulatively - an increase from 44% in 2021. Huawei held the number 1 position for market share with an increase in shipments from 23% in 2021, to 29% in 2022. Sungrow ranked second with 23% in 2022, growing from 21% in 2021.
Who has the largest PV inverter market shipments in 2022?
In 2022, Huawei had the largest PV inverter market shipments worldwide, accounting for some 29 percent of the market. Huawei was followed by Sungrow Power Supply and Ginlong Solis in the second and third position respectively, based on shipments. Get notified via email when this statistic is updated. Access limited to Free Statistics.
How many solar inverters were shipped in 2022?
As a result, the total global shipments of PV inverters reached 333 GWac in 2022. Among the top five vendors, Huawei, Sungrow, Ginlong Solis, Growatt, and GoodWe, more than 200 GWac was shipped, accounting for 71% of the total global PV inverter shipments in 2022. This represents an 8% increase compared to the previous year.
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Huawei Inverter Lifetime Report
1 Annie Rabi Bernard,Wood Mackenzie",Global solar PV inverter and module-level power electronics market share"2023 Huawei''s strong presence in the market is undeniable. In 2023, as reported by Wood Mackenzie, the company''s leading position was consistently maintained, with a 27% market share being secured. This surpassed competitors like
Get Price →Top 10 solar inverter makers account for 82
Huawei''s market share stayed at a stable 23% in 2021 while Sungrow ranked a close second at about 21% growing from approximately 19% in 2020. Second runner-up Growatt accounted for 7% of market share, replacing …
Get Price →Top 10 Solar PV Inverter Manufacturers Account for 82% of Market Share
Huawei''s market share stayed at a stable 23% in 2021 while Sungrow ranked a close second at about 21% growing from approximately 19% in 2020. Second runner-up Growatt accounted for 7% of market share, replacing SMA which slid down to sixth position. Together, the top three vendors control over half of the world''s solar PV inverter market.
Get Price →Huawei, Sungrow maintain PV inverter market leadership as ...
The top 10 list of inverter manufacturers ranked up 82% of the market share in 2021. Image: SMA Solar Technology. Huawei and Sungrow have maintained their leadership of the solar inverter market ...
Get Price →Global Photovoltaic Inverter Market Research Report 2024
The major players in global PV Inverter market include SMA, Huawei, etc. The top 2 players occupy about 30% shares of the global market. Asia-Pacific is main market, and occupies over 60% of the global market. ... Photovoltaic Inverter Market Share by Company Type (Tier 1, Tier 2, and Tier 3): 2019 VS 2023 Figure 19. The Global 5 and 10 Largest ...
Get Price →Top 20 Solar Inverter Manufacturers: A Global Overview of …
The rankings here are not hastily based on market share or popularity, but incorporate a number of factors that we''ve thought through. From compelling technological innovations, to far-reaching market influence, to that genuine word-of-mouth in the minds of users. ... From ICT giant to rising star in PV inverters. Huawei Technologies, an ICT ...
Get Price →Solar PV Inverter Market Share | Size & Analysis
The solar PV inverter market reached USD 8.45 Billion in 2024 & expected to grow at 5.00% CAGR between 2025 and 2034, to reach USD 13.76 Billion by 2034.
Get Price →Top 10 global inverter brands by 2022 market share
The top 10 global solar photovoltaic (PV) inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to latest analysis by Wood Mackenzie, a global insight business for renewables, energy and natural resources.. The top eight vendors of 2021 held their ranks in 2022, with only Ginlong Solis and Growatt …
Get Price →Huawei and Sungrow retain inverter market …
WoodMac found that the top five vendors grew their market share by 8% in 2022 to 71%, shipping over 200GW between them. Huawei and Sungrow were the top two suppliers and covered more than 50%...
Get Price →Solar inverter global market share ranking for …
Huawei''s market share stayed at a stable 23% in 2021 while Sungrow ranked a close second at about 21% growing from approximately 19% in 2020. Second runner-up Growatt accounted for 7% of market share, replacing …
Get Price →2024 Top 20 Global Photovoltaic Inverter Brands …
Sungrow achieved revenue of 27.65 billion yuan in 2023, up 61% year on year, and net profit of 9.4 billion yuan, with shipments of 130 GW. Meanwhile, Huawei''s revenue reached 52.607 billion yuan, a new high …
Get Price →How String Inverters Are Changing Solar Management …
of the world''s largest inverter manufacturer, Huawei. In 2016, Huawei accounted for 24 percent of all inverters shipped worldwide and 60 percent of the global share of three-phase string inverters, according to GTM Research. Huawei was founded in 1987 and entered the PV inverter market in 2013. In 2016, the company
Get Price →Huawei, Sungrow control 44% of PV inverter market in 2021
Huawei kept its market share at 23%, while Sungrow expanded its footprint to about 21% from approximately 19% in 2020. Another Chinese firm, Growatt, took the third place from Germany''s SMA Solar Technology AG (ETR:S92), controlling 7% of the market.
Get Price →PV Inverter Market
The global PV inverter market is expected to grow at a CAGR of 13.54% during 2022 to 2028. In 2020, Sungrow Power Supply (Sungrow) surpassed Huawei to become the no.1 industry-leading player in the global PV inverter market (24% M/S based on shipment volume).
Get Price →Top 10 solar PV inverter vendors account for …
For the eighth consecutive year, Huawei and Sungrow continued to lead the market, taking the first and second positions, respectively. Together, the top two vendors covered more than 50% of the global market cumulatively …
Get Price →Top 10 solar PV inverter vendors cornered 86
Huawei and Sungrow remained market leaders in 2022, as they have done since 2015, while AISWEI and SOFAR entered the top 10 ranking. The top 10 global photovoltaic (PV) inverter vendors accounted for 86% of the …
Get Price →Global and China Photovoltaic Inverter Industry …
Wherein, Huawei ranked first in China with 30.2% market share. SMA''s PV inverters have a wide power range from 700W to 1,120MW. In 2015, its PV inverter shipment amounted to 7.3GW, representing a 43.7% increase …
Get Price →2024 Top 20 Global Photovoltaic Inverter Brands …
PVTIME – Renewable energy capacity additions reached a significant milestone in 2023, with an increase of almost 50% to nearly 510GW, mainly contributed by solar PV manufacturers around the world.. On June 11 …
Get Price →Top Companies in Inverter Industry
are the market leaders in the Inverter market. These companies use strategies such as acquisitions, sales contracts, product launches, partnerships to increase their market share. Huawei Technologies Co., Ltd. (China), specializes in providing information and communication technology infrastructure along with smart devices. With extensive ...
Get Price →Global Solar Inverter Shipments Grew By 56%: Wood …
According to Wood Mackenzie''s "Global Solar Inverter and Module-Level Power Electronics Market Share 2024" report, the top 10 global PV inverter vendors captured 81% of the market ina led the charge, responsible for over half of global shipments as its solar demand doubled in 2023. Huawei and Sungrow solidified their market dominance, maintaining the first …
Get Price →Top 5 solar inverter suppliers accounted for 71% of …
Huawei held the first position with a 29% market share in 2022. Sungrow, the winner of the pv magazine award in 2021, increased its market share by two percentage points, from 21% in 2021 to 23% ...
Get Price →Top solar inverter manufacturers in 2023 tender landscape
Key Insights into China''s Solar Inverter Market. Solarbe''s recent analysis, based on publicly available data, indicates that around 203 GW of PV inverters were calibrated in 2023, marking a substantial 65% increase from the previous year. String inverters claimed a 90% share, witnessing a 15% YoY increase.
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