Top 10 photovoltaic inverter customers

The top 10 global photovoltaic (PV) inverter vendors accounted for 86% of the market – an increase of 4% year-over-year, whereas the top 3 players captured 60% of the market share for shipments in 2022.

On the first day of the conference, PVBL’s annual ranking of the Top 20 Global Photovoltaic Inverter Brands was announced. Preferential policies promoted the inverter market growth in 2023. Most of the major inverter companies won a large amount of orders and expanded their capacity with high shipment volume.

The top 10 global solar photovoltaic (PV) inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to latest analysis by Wood Mackenzie, a global insight business for renewables, energy and natural resources.

Global top 10 solar photovoltaic (PV) inverter vendors shored up 82% of market share in 2021, increasing by 2 percentage points compared to 2020, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). Global PV inverter shipments grew 22% or 40,250 MWac (mega-watt, alternating current) to 225,386 MWac in 2021 compared to 2020.

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6 FAQs about [Top 10 photovoltaic inverter customers]

Which inverter vendors dominated the global photovoltaic market in 2022?

Huawei and Sungrow remained market leaders in 2022, as they have done since 2015, while AISWEI and SOFAR entered the top 10 ranking. The top 10 global photovoltaic (PV) inverter vendors accounted for 86% of the market – an increase of 4% year-over-year, whereas the top 3 players captured 60% of the market share for shipments in 2022.

How pvbl ranked the top 20 global photovoltaic inverter brands in 2023?

Where is PV inverter market ranked?

The company is ranked seventh on the leader board. Areas for growth? According to a PV Inverter Market report by Future Market Insights, the global PV inverter market is poised to grow at a moderate CAGR of over 5.1% during the forecast period of 2022-2032, reaching a value of about US$ 33.1 Bn in 2032 from the US$ 19.2 Bn in 2021.

Which solar inverter should I buy?

Every solar panel system needs some kind of inverter, and we've compared the most popular solar inverters' specs, warranties, prices and more. The SolarEdge Home Wave Inverter is our top pick.

Which solar panel inverter is best?

Microinverters are the most efficient option since they handle power conversion on the individual panel level. They offer higher efficiency ratings, wasting very little energy during conversion. What is the most common residential solar panel inverter type? String inverters are the most common inverters used in residential solar systems.

How did the PV inverter market perform in 2022?

Overall, global PV inverter shipments saw 48% growth year-over-year in 2022, with an additional 100 GW shipped from 2021. In 2022, the PV inverter industry saw a renewed increase in shipments as the pandemic-related semiconductor chip shortage improved. Huawei and Sungrow covered 52% of the market cumulatively - an increase from 44% in 2021.

Top 10 photovoltaic inverter customers