Global PV inverter shipments grew by 10% to 589 gigawatts alternating current (GWac) in 2024, according to Wood Mackenzie’s Global Solar Inverter Market Share Report 2025. The research placed Huawei and Sungrow in the first and second positions in the rankings for the 10th consecutive year, together accounting for 55% of the global inverter market.
Nine of the top 10 PV inverter suppliers are based in China. Huawei and Sungrow retained the top two positions for the 10th consecutive year, together accounting for 55% of the global market. Both companies achieved their highest ever market shares in 2024, said Joseph Shangraw, research associate at Wood Mackenzie.
The research placed Huawei and Sungrow in the first and second positions in the rankings for the 10th consecutive year, together accounting for 55% of the global inverter market. In the Asia Pacific region, the growth of inverters was primarily driven by China, which accounted for almost all of the global increase.
Ginlong Solis held third place, while Growatt climbed to fourth, reclaiming its position from 2022. According to Wood Mackenzie’s Global solar inverter market share report 2025, China accounted for 330 GWac of shipments, marking a rise of 14% over 2023.
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