“ Huawei and Sungrow ranked first and second in the rankings for the 10th consecutive year, combining for 55% of the global inverter market.” Total global inverter shipments reached 589 GW (AC) in 2024, up 10% from 2023.
Nine of the top 10 PV inverter suppliers are based in China. Huawei and Sungrow retained the top two positions for the 10th consecutive year, together accounting for 55% of the global market. Both companies achieved their highest ever market shares in 2024, said Joseph Shangraw, research associate at Wood Mackenzie.
China was responsible for more than half of all global demand, receiving 330 GW (AC) of shipments, a 14% increase over 2023,” Wood Mackenzie said. “ Huawei and Sungrow ranked first and second in the rankings for the 10th consecutive year, combining for 55% of the global inverter market.”
Although the Huawei solar inverters deployed into testing were US models, it can be reasonably assumed that the models sold in Australia adopt the same or similar technology. As many Huawei inverters are manufactured in China, this enables them to be sold at a cheaper price in comparison to European manufactured competitors. Indicative pricing
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The Asia-Pacific region,encompassing China,India,and Southeast Asia,accounted for 69%of global inverter shipments,with China alone driving over half of the demand.The …
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In Short : Global PV inverter shipments rose 10% in 2024 to 589 GWac, driven by strong demand in China and the wider Asia-Pacific region, which accounted for 69% of …
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Global PV inverter shipments rose by 10% year-on-year to reach 589 GW AC in 2024, according to Wood Mackenzie’s Global Solar Inverter Market Share Report 2025, led by …
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Chinese companies made up nine of the 10 largest global inverter suppliers in 2024, with total inverter shipments reaching 589 GW (AC), according to Wood Mackenzie.
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Chinese companies made up nine of the 10 largest global inverter suppliers in 2024, with total inverter shipments reaching 589 GW …
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Global PV inverter shipments increased by 10% to 589 GWac in 2024, with growth occurring in Asia Pacific and the Middle East, while the US and European markets contracted, …
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The Asia-Pacific region, encompassing China, India, and Southeast Asia, accounted for 69% of global inverter shipments, with China alone driving over half of the …
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Global PV inverter shipments increased by 10% to 589 GWac in 2024, with growth occurring in Asia Pacific and the Middle East, while …
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The Asia-Pacific region, encompassing China, India, and Southeast Asia, accounted for 69% of global inverter shipments, with …
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Wood Mackenzie report shows Huawei and Sungrow tightening control of a record 589 GWac inverter market as Asia surges and Europe, U.S. shipments falter Global demand …
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