Huawei was the world's largest inverter supplier in terms of shipments in , followed by Sungrow, according to a new report by Wood Mackenzie.
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The two companies have held the same positions since , with Huawei securing the top spot for the seventh year in a row. Global PV inverter shipments reachers 225,3 GWac in , up 22% growth from .
&#;Huawei&#;s market share stayed at a stable 23% in while Sungrow ranked a close second at about 21% growing from approximately 19% in ,&#; the analysts said. &#;Second runner-up Growatt accounted for 7% of market share, replacing SMA which slid down to sixth position. Together, the top three vendors control over half of the world&#;s solar PV inverter market.&#;
GoodWe jumped four positions to rank fifth in , due to large shipments to the Asia- Pacific region &#; particularly China and South Korea, Wood Mackenzie said. &#;Entering the top 10 list for the first time is Israeli-backed SolarEdge, which secured the ninth spot in , adding about 1,000 MW.
The Asia-Pacific region was once again the biggest market last year, accounting for more than half of total shipments. Europe and the United States had shares of 23% and 14%, respectively.
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WoodMac found that the top five vendors grew their market share by 8% in to 71%, shipping over 200GW between them. Huawei and Sungrow were the top two suppliers and covered more than 50% of the market themselves, seeing 83% and 56% growth in shipments respectively compared with . Last year&#;s market breakdown can be read here.
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In , Sungrow has announced supply deals for some of the largest PV projects in the world, notably two Saudi installations that both exceed 2GW capacity. The &#;world&#;s largest&#; solar farm will deploy 2.1GW of Sungrow&#;s inverters, and the NEOM green hydrogen project will use 2.2GW.
Ginlong Solis, Growatt and GoodWe rounded out the top five vendors list in . Ginlong is the only one of these three to have seen an increase in YoY growth, up 86% in , whilst both Growatt and Goodwe&#;s growth slowed down compared with .
Goodwe enjoyed significant growth in , rising four positions in the top 10 ranking to its number five position with a 100% increase in shipments. Its growth slowed in , however, to 21%.
Image: Wood MackenzieOnly SMA and Power Electronics of the top 10 companies saw small decreases in shipments, down 12% and 4% respectively.
In terms of market breakdowns, the Asia-Pacific (APAC) market accounted for 50% of global share last year, with a 44% YoY increase in shipments to 130GWac. Of this, 78% were directed to projects in China as it continues its massive solar rollout. India was the second largest APAC market, but fell 25% YoY; in India missed its PV deployment targets substantially, laying down 12.8GW of its target 20GW.
Europe accounted for 28% of global market share last year and had an 82% increase YoY, the highest of any global region. 92GWac of inverters landed in Europe in as it looks to meet its targets set out in the Green Deal Industrial Plan.
The US saw 42GWac shipped to its projects, just 13% of the market. Earlier this year, Enphase Energy announced an expansion of its US microinverter supply operations.
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