About Photovoltaic inverter A-share leader
For the eighth consecutive year, Huawei and Sungrow continued to lead the market, taking the first and second positions, respectively.
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6 FAQs about [Photovoltaic inverter A-share leader]
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 shipped the most in 2022?
Wood Mackenzie said that the top five vendors shipped more than 200 GW (AC) and accounted for 71% of total global PV inverter shipments in 2022, up 8% from 2021. The report notes that fir the top vendor of 2022, Huawei, shipments increased by 83%. Ginlong Solis posted growth of 86%.
Which inverter manufacturer has the highest market share?
Additional key findings from the latest Leaderboard include: Enphase secured the top spot in the residential inverter manufacturer ranking with a total market share of 48.1%. Tesla, which began manufacturing inverters in Q1 2021, ranked third with a market share of 5.5% - a 1% jump from 2021.
How big is the solar-plus-storage hybrid inverter market?
While the U.S. market is beginning a strong growth trajectory, it accounted for only 13% of the global market with 42 GWac shipped to the country. Solar-plus-storage hybrid inverters made up 10% of the regional shipments as the curtailment of net metering in some markets are leading to a strong energy storage market.
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 solar installers did a decline in market share?
Despite year-over-year growth in installations, several top installers experienced market share declines due to increased competition. The installers that managed to increase their market shares include SunPower (ranked #5), Bright Planet Solar (ranked #8), Palmetto Solar (ranked #9), and LGCY Power (ranked #10).
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