According to Wood Mackenzie, the top 10 PV inverter manufacturers accounted for 81% of the global market last year, and two captured more than 50%.
According to a report from the company, global solar inverter shipments increased 56% to 536 gigawatts alternating current (GWac) in 2023.
The top 5 manufacturers for supplies (capacity) were:
- Huawei
- Sungrow
- Ginlong Solis
- artist
- Growatt
Huawei and Sungrow retained their positions and captured more than 50% of the global market; This is largely due to their utility-scale products. Solis reached No. 3 again, while Sineng jumped from No. 1 to No. 1. From No. 8 in 2022 to No. 4 in 2023. This move displaced Growatt, who was pushed back to No. 5.
“In an industry that is growing as quickly as the PV inverter market, it is remarkable that Huawei and Sungrow have been able to expand production capacity to maintain their market share year after year,” said Joseph Shangraw of Wood Mackenzie. “Behind these two companies, we continue to see market diversification, with 11 additional manufacturers set to deliver more than 10 GWac of supplies in 2023.”
Nine of the top 10 solar inverter manufacturers in 2023 were headquartered in China, where local demand accounted for more than half of all global shipments as China’s solar demand doubled last year. In the US, Sungrow and Power Electronics topped the list, while in Europe, Huawei, Sungrow and SMA were the top performers.
Wood Mackenzie noted that inverter growth in North America and Europe is largely driven by utility sector solutions, as residential inverter manufacturers face slower demand growth and overstocks due to an ongoing oversupply situation that is already in 2022 (at least for manufacturers ) started to show its ugly face.
Top Solar Inverter Brands in Australia
As for the Australian delivery rankings, there was no mention of it in the Wood Mackenzie publication and I had no desire to pay $5,990 for the full report for the privilege of perhaps finding out that snippet of information. But I can tell you what some of Australia’s top solar installers have chosen as the best inverters in 2024.
Every year, SolarQuotes asks installers in its network (currently about 500 of them) what they would install in their own homes if money were no object and even if they were on a tight budget. They are now also asked which brands offer the best support.
For 2024, Fronius took gold in the “Money No Object” category, followed by Enphase (silver) and then Sungrow and SolarEdge (equals bronze). In the best value category it was Sungrow, followed by GoodWe and then Fronius. The gold gong for best support went to Fronius, silver to Enphase and bronze to Sungrow and SolarEdge.
You can also view a table of the solar inverters currently recommended by SolarQuotes here.
A good choice of inverter is crucial
When choosing a system, much emphasis is often placed on solar panels, but the inverter is the real workhorse. This high-tech electronic box takes all the direct current from the solar panels and converts it into alternating current that you can use at home and feed into the grid. It performs this task day after day, year after year, often under difficult environmental conditions. For this reason, if you are on a tight budget, it is better to choose good solar panels and a good inverter and not the other way around.
Learn more about choosing a solar inverter.
Comments are closed.