Huawei, Sungrow keep PV inverter market management as GoodWe climbs rankings

Jul 12, 2022 01:22 PM ET
  • Huawei and also Sungrow have actually kept their leadership of the solar inverter market for the 7th year straight, according to Wood Mackenzie.
Huawei, Sungrow keep PV inverter market management as GoodWe climbs rankings
Image: SMA Solar Technology

Total inverter shipments got to 225,386 MWac last year, Wood Mackenzie's 2021 inverter market tracker has disclosed, a 22% rise from 2020 which was mainly driven by solid growth in Europe, India and Latin America.

Chinese manufacturer Growatt ended up third in WoodMac's position, with the top three audit for majority of all solar inverter shipments last year. Huawei and Sungrow remain, by some range, the largest vendors making up 23% as well as 21% of shipments specifically, with Growatt a somewhat far-off 3rd with 7% market share.

Moreover, the 10 best sellers in 2021 increased their market share by two portion indicate 82% of the marketplace last year.

Annie Rabi Bernard, research study analyst at Wood Mackenzie, claimed: "Despite rising raw material costs, supply chain obstacles and delayed constructions, worldwide PV inverter shipments remain to increase. Leading vendors have actually become bigger, and also the top players continue to combine market share in 2021."

Other significant adjustments in the leading ten ranking include GoodWe acquiring 4 placements to finish 2021 in 5th area because of huge shipments in the Asia Pacific area, significantly in China and South Korea.

The company has registered the greatest development in shipments given that pre-covid, with a close to five-fold boost in between 2019 and also 2021.

SMA fell 3 placements to sixth last year as really felt the impacts of a lack of electronic chips throughout the year, while SolarEdge went into the leading 10 listing, completing ninth, as a result of its strong visibility on the European market.

Region-wise, Asia Pacific made up majority of solar PV inverter shipments in 2021, with 116,064 MWac as China, India and also Australia made up the boost in demand.

Meanwhile Europe has actually boosted its development by 52% year-on-year, with 50,770 MWac inverter shipments in 2021 as well as representing 23% of the worldwide market.

Growth in demand from Germany, Italy, the Netherlands and Poland contributed to Europe's significant rise between 2020 as well as 2021.

It was a various photo for the US, nonetheless, which saw a mild reduction of 360MWac in inverter shipments last year due to supply chain concerns, raised cost of resources as well as rising expenses for designers. Its global market share made up 14%.

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