The top 10 global solar photovoltaic (PV) inverter vendors accounted for 86% of market share in , increasing by 4% year-over-year since , according to latest analysis by Wood Mackenzie, a global insight business for renewables, energy and natural resources.
Senergy supply professional and honest service.
The global PV demand of 201 gigawatt alternating current (GWac) in contributed to 48% growth year-over-year for PV inverters. In terms of inverter shipments, strong growth in Europe, Asia Pacific, and the United States where government support bolstered to meet clean energy goals led to a total of 333 GWac of global shipments in . The industry saw this renewed increase in shipments as the pandemic-related chip shortage and other supply chain challenges eased in .
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 , growing 8% from . Huawei&#;s shipments saw a significant increase of 83% in compared to , while Sungrow&#;s shipments expanded 56% in the same period.
(source: Wood Mackenzie)
Huawei and Sungrow maintain leadership
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 in , while continuing to lead the APAC region with a 55% market share, compared to 46% in .
Huawei held the first position with a 29% market share in . Second runner-up Sungrow increased its market share by 23% in , compared to 21% in . Ginlong Solis moved up to third place in , driven by the company&#;s shipments in China.
The top eight vendors of held their ranks in , with only Ginlong Solis and Growatt swapping third and fourth positions from . Aiswei and Sofar jumped up three ranks to enter the top 10 ranking, holding the ninth and tenth positions respectively in .
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. China led the market with 78% of inverter shipments to APAC directed to the country as installations reach an all-time high. India retained its position as the second largest inverter market in APAC in but saw a 25% decrease in shipments year-over-year. While Japan overtook Australia as the third, with 7 GWac shipped to the country, seeing a 23% year-over-year growth.
Europe accounted for 28% of the global market with 92 GWac shipped to the region. Europe experienced the highest shipment growth with an 82% increase in , following its 44% year-over-year growth in , as the region strives for carbon neutrality by under the European Green Deal plan.
The US, however, consumed 13% of the global market, with only 42 GWac shipped to the country. PV-storage hybrid inverters made up 10% of the regional shipments as the US increases the integration of solar and storage.
ENDS
For more information, please visit OEM bidirectional solar inverter company.
Reporting metrics:
WoodMac ranks vendors by quantity of shipments in megawatts-alternating current (MWac). Only shipments with revenue recognised in the reporting year are counted towards the market share.
PVTIME &#; Renewable energy capacity additions reached a significant milestone in , with an increase of almost 50% to nearly 510GW, mainly contributed by solar PV manufacturers around the world.
On June 11-12 , the CPC 9th Century Photovoltaic Conference and PVBL 12th Global Photovoltaic Brand Rankings Announcement Ceremony were jointly held by Century New Energy Network, PVTIME and Photovoltaic Brand Lab (PVBL) in Shanghai City, China.
The conference brought together solar energy leaders, entrepreneurs and heads of investment institutions. Based on the Duel Carbon targets, PV-related topics such as industrial development trend, technological innovation and integration of solar power storage were discussed, with the aim of promoting the coordinated progress of upstream and downstream industrial chains, as well as promoting the brand building and technological innovation of the photovoltaic industry.
On the first day of the conference, PVBL&#;s annual ranking of the Top 20 Global Photovoltaic Inverter Brands was announced.
Preferential policies promoted the inverter market growth in . Most of the major inverter companies won a large amount of orders and expanded their capacity with high shipment volume.
Sungrow and Huawei tied for first place in the list with outstanding performance. Sungrow achieved revenue of 27.65 billion yuan in , 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 compared to its revenue of 50.8 billion yuan in .
After years of competition, the inverter industry has become quite stable. The overall ranking of the list has not changed much, as most of the leading inverter manufacturers have developed their respective core products, including central inverters, string inverters, micro inverters and energy storage, in a balanced manner.
Launched in , the PVBL annual report is the only data research report in China supported by a multidimensional evaluation system. The multidimensional scoring system accurately reflects consumers&#; attitudes towards brands and provides companies with insights into the effectiveness of their brand positioning strategies.
To calculate a company&#;s corporate brand rating, the Photovoltaic Brand Lab combines 10 years of data collected by Century New Energy Network and its web-based operations with the evaluation criteria.
The maximum achievable Corporate Brand Rating is and is calculated after companies have gone through the comprehensive evaluation system, which includes the assessment of five primary and ten secondary indicators. The primary indicators are sales, research and development, outgoing shipments, impact and service. Secondary indicators include brand design, brand popularity, brand reputation, brand loyalty, product quality, service quality, marketing promotion, social responsibility, industry impact and societal impact.
Scan the QR code to follow PVTIME official account on Wechat for latest news on PV+ES
Want more information on OEM ac coupled solar battery factory? Feel free to contact us.