Woodmac Ranking for Inverter Shipments In 2021 Retains Huawei at 1, Top 5 Firms Chinese
- A comparable ranking for 2021 by IHS markit in June had shown Sungrow overtaking Huawei, and Solis take number 3 spot.
- In the Woodmac rankings, Huawei continues to be on the top, with Growatt taking number 3 spot. Chinese firms, that inhabited the top 3 spots in IHS Markit rankings, currently comprise the top 5 inverter vendors according to Woodmac
In the second global PV Inverter rankings in 2 weeks, it is the turn of Wood Mackenzie, a Verisk organization to release the numbers. And also the rankings creates an interesting checklist, as Huawei has actually handled to protect its management herem unlike in the case of the IHS Markit's rankings in June.
Consolidation at the top proceeds, with the worldwide top 10 solar photovoltaic (PV) inverter vendors taking 82% of market share in 2021, enhancing by 2 portion points compared to 2020, says Wood Mackenzie's report.
International PV inverter shipments grew 22% or 40,250 MWac (mega-watt, alternating existing) to 225,386 MWac in 2021 compared to 2020. This is generally driven by solid development in markets in Europe, India, as well as Latin America where federal government assistance raised to meet decarbonisation goals.
Wood Mackenzie research study expert Annie Rabi Bernard claimed: "Regardless of soaring resources prices, supply chain difficulties and also postponed building and constructions, international PV inverter shipments continue to increase. Leading vendors have come to be larger, as well as the top players remain to settle market share in 2021."
For the 7th consecutive year, Huawei as well as Sungrow remain to lead the pack taking the first as well as second placements, respectively. Huawei's market share remained at a stable 23% in 2021 while Sungrow ranked a close 2nd at concerning 21% growing from roughly 19% in 2020. 2nd runner-up Growatt represented 7% of market share, replacing SMA which slid to 6th setting. With each other, the top 3 vendors control over half of the globe's solar PV inverter market.
GoodWe jumped 4 settings to rank at number five in 2021 due to big shipments to the Asia Pacific region especially China and South Korea. The firm also scored the biggest growth in shipments of almost five-fold in between pre-covid 2019 as well as 2021.
Going into the top 10 listing for the very first time is Israeli-backed SolarEdge which secured the 9th spot in 2021, including about 1,000 MWac, because 2020 with concentrate on the European market. SolarEdge had the same 9th spot in the IHS Markit rankings too.
In terms of geographic reach, Asia Pacific consumed over half or 116,064 MWac of the worldwide solar PV inverter shipments in 2021. Shipments to China, India as well as Australia accounted for the increase popular, with Huawei as well as Sungrow maintaining its prominence in the region.
Europe occupied 23% of the international market with 50,770 MWac inverter shipment. The market increased its inverter shipment capacity by over 17,000 MWac in 2021 from 2020, with an impressive 52% year-on-year development. Demand growth in Germany, Italy as well as Netherlands, and also Poland's ambitious target of 7,300 MWac of solar PV by 2030 contributed to the significant boost.
The US, nevertheless, saw a minor decrease of 360 MWac in inverter shipment in 2021 from 2020, as well as represented 14% of the global market share. Supply chain constraints, record-level resources expenses as well as rising costs for developers contributed to the slight year-on-year dip. Spanish-headquartered Power Electronics remains to hold the largest market share in the country. The company is placed 7th on the leader board.