About Jingda shares produces photovoltaic inverters
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6 FAQs about [Jingda shares produces photovoltaic inverters]
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.
What is the global solar PV inverter market like in 2023?
Global solar PV inverter* shipments grew by 56% in 2023 to 536 GWac, with China accounting for half of all shipments as the country’s solar demand doubled in 2023, according to the latest analysis by Wood Mackenzie. The top 10 PV inverter vendors, led by Chinese giants Huawei and Sungrow, controlled 81% of the global market.
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.
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.
Which countries have experienced double digit PV inverter market growth?
In comparison, North America and Europe also experienced double-digit PV inverter market growth, but it was largely concentrated in the utility-scale sector as residential inverter manufacturers faced slower demand growth and excess inventory from oversupply beginning in 2022.
Which inverter manufacturers dominate the global utility-scale inverters market?
Huawei and Sungrow alone captured over 50% of the global share, thanks largely to their popular utility-scale inverters, reports the market analyst. The rest of the market saw a diversification with 11 other manufacturers exceeding 10 GWac in shipments.