Chinese conglomerate Huawei was the world’s largest inverter supplier in 2024, followed by Sungrow, Ginlong Solis, Growatt and Sineng.
New figures from Wood Mackenzie show that nine out of 10 largest global inverters were located in China last year.
“The Asia Pacific (APAC) region, including China, India and Southeast -Asia, accounted for 69% of all capacity sent. China was responsible for more than half of all global question, which received 330 GW (AC) shipments, an increase of 14% compared to 2023,” said Wood Mackenzie. ‘Huawei and Sungrow were the first and second in the ranking for the 10th consecutive year and combined 55% of the global inverter market. “
The total global inverters shipments reached 589 GW (AC) in 2024, an increase of 10% compared to 2023.
The growth was the strongest in the Asia-Pacific region and the Middle East, while according to Wood Mackenzie, the shipments fell with a sharp double percentage in Europe and the United States.
In Europe, the decline was largely due to surplus inventory throughout the year, especially in the Netherlands and Germany. In the United States, Wood Mackenzie attributed the decrease to a weakening residential market and a lower demand for central inverters.
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