“ Huawei and Sungrow ranked first and second in the rankings for the 10th consecutive year, combining for 55% of the global inverter market.” Total global inverter shipments reached 589 GW (AC) in 2024, up 10% from 2023.
China was responsible for more than half of all global demand, receiving 330 GW (AC) of shipments, a 14% increase over 2023,” Wood Mackenzie said. “ Huawei and Sungrow ranked first and second in the rankings for the 10th consecutive year, combining for 55% of the global inverter market.”
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 shows that nine of the 10 largest global inverter suppliers last year were based in China.
Total global inverter shipments reached 589 GW (AC) in 2024, up 10% from 2023. Growth was strongest in the Asia-Pacific region and the Middle East, while shipments dropped by a sharp double-digit percentage in Europe and the United States, according to Wood Mackenzie.
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