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 at number five in 2021 owing to large shipments to the Asia Pacific region particularly China and South Korea.
The global PV inverter market was valued at USD 34.6 billion in 2024 and is estimated to grow at a CAGR of 9.5% from 2025 to 2034. The paradigm shift toward the integration of renewable energy resources will fuel the adoption of efficient systems.
Huawei’s market share stayed at a stable 23% in 2021 while Sungrow ranked a close second at about 21% growing from approximately 19% in 2020. 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.
The global market for central inverters is anticipated to be over USD 30.8 billion by 2034. These inverters have been categorized as stationary inverters primarily serving across a large-scale solar farm or a utility-aided solar deployment.
Our standardized container products are engineered for reliability, safety, and easy deployment. All systems include comprehensive monitoring and control systems with remote management capabilities.
After record shipments in 2024, the global solar inverter market is set for a two-year downturn, shrinking 2% to 577 GWac this year and another 9% to 523 GWac in 2026, …
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The global solar inverter market is set to contract over the next two years, according to analysis from Wood Mackenzie. The consultancy is forecasting the market will fall to 577 …
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Global solar inverter shipments are forecast to decline through 2026, with regional contractions in China, Europe, and the U.S. driven by overcapacity, policy shifts, and …
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PV Inverter Market Size The global PV inverter market was valued at USD 34.6 billion in 2024 and is estimated to grow at a CAGR of 9.5% from 2025 to 2034. The paradigm shift toward the …
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The Photovoltaic Inverter Market is witnessing robust growth fueled by increasing solar power installations, grid modernization, and technological advancements. Explore market size, key …
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The global solar inverter market will contract for two consecutive years, declining 2% to 577 GWAC in 2025 and a further 9% to 523 GWAC in 2026, according to Wood …
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Photovoltaic (PV) inverters play a critical role in the solar energy sector, converting direct current (DC) electricity generated by solar panels into alternating current (AC) electricity …
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Solar Inverter Market Trends The solar inverter market is experiencing dynamic shifts, driven by rapid technological advancement and increasing solar PV installations worldwide. String …
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Wood Mackenzie forecasts a two-year decline in the global solar inverter market, with shipments dropping in 2025 and 2026 due to market uncertainties. Recovery is expected …
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