Top 10 solar PV inverter vendors account for 86% of global ...

According to recent findings from Wood Mackenzie, a renowned global insight firm specializing in renewable energy, energy, and natural resources, the leading ten solar photovoltaic (PV) inverter vendors hold an impressive 86% of the market share. This marks a noteworthy increase of 4% year-over-year since the previous year.

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In 2021, the global demand for solar PV reached 201 gigawatts of alternating current (GWac), which contributed to a significant 48% growth in PV inverter sales year-over-year. Diesel shipments surged to a total of 333 GWac globally as support from governments in Europe, Asia Pacific, and the United States ramped up to help achieve clean energy objectives. The industry noted this revival in shipments coinciding with eased pandemic-related chip shortages and other supply chain complications.

During this period, the top five companies—Huawei, Sungrow, Ginlong Solis, Growatt, and GoodWe—each shipped more than 200 GWac, accounting for a combined total of 71% of global PV inverter shipments in 2021, reflecting an 8% increase from the previous year. Notably, Huawei’s shipments saw a remarkable 83% growth compared to 2020, while Sungrow experienced a 56% increase in shipments during the same timeframe.

(source: Wood Mackenzie)

Huawei and Sungrow maintain leadership

For the eighth consecutive year, Huawei and Sungrow have maintained their lead in the solar inverter market, holding the first and second spots, respectively. Together, they commanded over 50% of the global market share cumulatively in 2021, while also dominating the Asia Pacific region with a 55% market share, compared to 46% in 2020.

In 2021, Huawei solidified its position with a market share of 29%. Sungrow, securing second, improved its market share to 23% up from 21% the previous year. Ginlong Solis made strides to move into third place in 2021, largely propelled by the company’s impressive shipment numbers in China.

The rankings of the top eight vendors remained consistent in 2021, with the exception of Ginlong Solis and Growatt exchanging their respective third and fourth positions from 2020. Aiswei and Sofar remarkably advanced three ranks to position themselves among the top ten for 2021, ending up in ninth and tenth places, respectively.

Asia Pacific leads inverter market

The Asia Pacific (APAC) region dominated the inverter market, making up 50% of the global share and showcasing a year-over-year shipment growth of 44%, tallying total shipments of 167 GWac. Notably, China emerged as the market leader, accounting for a staggering 78% of inverter shipments to the APAC region, as installations soared to an all-time high. India retained its status as the second-largest inverter market in APAC in 2021, albeit with a 25% decline in shipments year-over-year. Moreover, Japan surpassed Australia as the third-ranking market, receiving 7 GWac, reflecting a 23% year-over-year growth.

Europe represented 28% of the global market, with 92 GWac shipped to the region. The region experienced the highest growth in shipments with an 82% increase in 2021, following a 44% increase the previous year, as part of its commitment to achieving carbon neutrality by 2030 under the European Green Deal.

In contrast, the United States accounted for 13% of the global market with only 42 GWac shipped in 2021. Furthermore, PV-storage hybrid inverters constituted 10% of the regional shipments as the U.S. worked to enhance the synergy between solar and storage systems.

ENDS

Reporting metrics:

WoodMac ranks vendors based on the quantity of shipments measured in megawatts-alternating current (MWac). Only shipments with revenue reported in the same year are considered in calculating market share.

As the global demand for solar energy escalates, photovoltaic inverters play a crucial role in pushing performance limits while reducing costs. We highlight the top international inverter companies delivering reliable quality and performance. From established brands in Europe to agile manufacturers in China, these leading inverter producers provide the advanced technology necessary for next-generation PV systems.

Solar Inverter Manufacturers ' Top 10 Picks

Here are 10 of the best solar inverter brands:

TOSUNlux

A prominent solar brand from China, TOSUNlux delivers high-efficiency solar inverters for residential, commercial, and utility applications. Their extensive range of central and string inverters allows for significant customization tailored to specific power requirements, including storage integration.

With intelligent manufacturing strategies driving costs down, TOSUNlux inverters maintain robust performance and competitive pricing internationally. Their diverse product selection meets safety certifications, such as CE, UL, and FCC, ensuring reliable operation. For outstanding value from an agile Chinese manufacturer, TOSUNlux stands out.

Sungrow

As one of the major solar inverter suppliers from China, Sungrow offers cutting-edge central and string PV inverters designed for both large and small-scale solar installations. Their intensive research and development, alongside vertical integration, aids in optimizing cost, efficiency, and dependability.

Sungrow's innovative inverter designs leverage features such as remote fleet management and AI-based yield enhancement. Their storage-integrated inverters facilitate the deployment of solar-plus-storage systems. Coupled with strong customer service and bankable 25-year warranties, Sungrow is a reliable global inverter partner.

Huawei

A global ICT powerhouse, Huawei has entered the PV sector, utilizing its expertise in power electronics and control systems to swiftly introduce a competitive range of string and central solar inverters. Signature technologies like natural cooling, multi-MPPT, and cloud management contribute to efficiency optimization.

While a relatively new player, Huawei's solar inverters have demonstrated bankable performance, bolstered by solid warranties and service support. The company remains devoted to R&D for next-generation smart PV systems. For a future-ready inverter brand, Huawei is comprehensive in its offerings.

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Solis

As the solar division of Ginlong Technologies, Solis manufactures high-value string and central solar inverters optimized for use in residential, commercial, and utility-scale projects. Their efficient manufacturing process enables premium features at affordable pricing.

Solis leverages insights gained from over 7GW of inverters deployed to continuously enhance reliability and intelligence. Their designs are future-ready, simplifying the integration of storage systems and smart grids with plug-and-play connectivity. With competitive quality and cost, Solis streamlines solar productivity.

Growatt

Over the past 15 years, Growatt has evolved into one of the largest suppliers of solar inverters globally, achieving quality at scale through effective R&D and manufacturing. Their diverse product offerings encompass string, central, and hybrid inverters, integrating battery storage for enhanced grid independence.

With over a million units installed worldwide, Growatt capitalizes on robust field performance data and customer feedback to fuel rapid innovations. Their latest models feature smart home energy management and vehicle-to-grid connectivity. For feature-rich solar technology underpinned by extensive industry expertise, Growatt excels.

SMA

A pioneering solar power company from Germany, SMA brings over 40 years of specialized experience focused on optimizing solar inverters for residential and commercial systems. Their high-efficiency designs thrive in harsh environments while supporting intelligent monitoring and management capabilities.

SMA also employs collaborative tools like installation configurators, monitoring platforms, and fleet analysis software to ease installation and maintenance efforts. For clients seeking tailored solar electronics backed by long-term assistance, SMA is a respected partner.

Power Electronics

A power electronics leader based in Spain, Power Electronics has over 30 years of industrial process innovation in developing premium solar inverters. Their ULTRA product line provides extensive customization options for large-scale solar and storage integration, simplifying end-to-end system design.

Power Electronics also utilizes testing and reliability enhancements from other products like wind inverters, EV chargers, and grid stabilizers to develop solar capabilities. Their strong, responsive support offers assurance for long-term investments. When reliability and quality are paramount, Power Electronics delivers.

Sineng

A versatile solar power specialist from China, Sineng Electric designs advanced power conditioning and conversion systems tailored for distributed renewable applications. Their extensive range of PV inverters includes models optimized for shade tolerance, large solar farms, and off-grid solar-plus-storage systems.

Utilizing vertical integration from research and development through to manufacturing, Sineng provides customization and quality without exorbitant costs. Their experience in creating solar systems and hybrid microgrid projects positions Sineng as a flexible partner in addressing complex needs.

SolarEdge

As one of the fastest-growing PV brands globally, SolarEdge is a pioneer in module-level electronics and power optimization aimed at maximizing the efficiency of solar arrays. Their innovative HD Wave inverter technology combats energy loss due to heat, shading, and dirt buildup, potentially resulting in up to 25% more energy yield.

By serving as an end-to-end solar provider, including modules and storage systems, SolarEdge enhances component synergy while facilitating easier installations via intelligent interfaces. For comprehensive solar productivity driven by advanced inverter technology, SolarEdge represents exceptional value.

Fimer

With nearly a century of power electronics experience, Fimer from Italy has rapidly ascended to become a leading provider of solar inverters worldwide. Their broad portfolio includes string, central, and large-scale inverters that integrate storage and smart grid functions.

As one of the major solar power inverter suppliers from China, Fimer leverages cutting-edge power control IGBT modules and decentralized intelligence to continually enhance inverter efficiency. Their flexible designs allow for smooth integration and monitoring of sophisticated hybrid systems. For solar power platforms that embrace future possibilities, Fimer provides unparalleled support.

Conclusion

As the global solar market progresses towards terawatt-scale generation, these top solar PV inverter manufacturers deliver the intelligent electronics and dependability essential for achieving new renewable energy milestones. Their manufacturing capabilities unlock enhanced efficiency and functionalities in each product generation, consequently advancing the adoption of solar energy.

For your next solar initiative, consider opting for advanced and reliable inverters from industry-leading manufacturers like TOSUNlux to optimize power productivity over the long term.