Technical FAQs 4

Are Huawei & Sungrow leading the global inverter market?

“ 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.

Where are PV inverter shipments growing in 2024?

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, according to a report by Wood Mackenzie. Nine of the top 10 PV inverter suppliers are based in China.

Which PV inverter suppliers are based in China?

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.

What makes Huawei inverters so popular?

Products: Huawei focuses on grid-tied and hybrid inverters, with energy storage solutions integrated for residential and commercial use. Their Smart PV inverters are particularly popular. Technology: Huawei’s inverters incorporate AI and cloud-based monitoring, allowing predictive maintenance and real-time monitoring through apps.

Microgrid & Energy Storage Technical Resources


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