About Huawei enters photovoltaic inverter market
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6 FAQs about [Huawei enters photovoltaic inverter market]
What is the global PV inverter market share?
Global PV inverter shipments grew by 56% to 536 gigawatts alternating current (GWac) in 2023, reflecting a strong year for the broader solar industry. The top 10 global PV inverter vendors accounted for 81% of the market, according to Wood Mackenzie’s ‘ Global solar inverter and module-level power electronics market share 2024’ report.
Which PV inverter vendors shipments grew the most in 2022?
The top five vendors – Huawei, Sungrow, Ginlong Solis, Growatt, and GoodWe – shipped more than 200 GWac and accounted for 71% of total global PV inverter shipments in 2022, growing 8% from 2021. Huawei’s shipments saw a significant increase of 83% in 2022 compared to 2021, while Sungrow’s shipments expanded 56% in the same period.
Who dominates the PV inverter market?
Industry leaders Huawei and Sungrow maintained their top positions, capturing more than 50% of the market combined, primarily through their popular utility-scale inverters. Joseph Shangraw, research associate at Wood Mackenzie, remarked, “The rapid expansion of the PV inverter market is impressive.
Are Huawei & Sungrow able to expand production capacity?
Joseph Shangraw, research associate at Wood Mackenzie, said: “In an industry growing as quickly as the PV inverter market, it’s remarkable that Huawei and Sungrow have been able to expand production capacity to maintain their market share year after year.
Which aiswei & Sofar dominated the inverter market in 2022?
Aiswei and Sofar jumped up three ranks to enter the top 10 ranking, holding the ninth and tenth positions respectively in 2022. Asia Pacific leads inverter market The Asia Pacific (APAC) region held 50% of the global market with a 44% year-over-year growth in shipments, with total shipments to the region reaching 167 GWac.
Which inverter vendors are based in China?
Ginlong Solis secured the third spot for the second consecutive year, while Sineng saw a significant leap to fourth place, driven by a 133% increase in shipments. Notably, nine of the top 10 inverter vendors are based in China, reflecting the country’s strategic investments in solar energy to meet both domestic and international demand.