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 growth of the market is driven by a large inflow of investments in the renewable energy sector and rise in the number of residential solar rooftop installations. The report covers the inverter market segmented into type, output power rating, output voltage, sales channel, end user, and region.
Daytime oversupply depresses prices — often into negative territory — while evening demand spikes have become sharper. A relatively mature market, especially in Europe, has become more competitive, said one European asset owner, raising pressure on solar owners and operators to deliver more predictable returns.
Despite the cooling in China and the US, emerging economies across Asia, Sub-Saharan Africa and the Middle East are likely to see bigger gains, with Saudi Arabia among the most significant because of cheaper solar panels imported from China and the government’s effort to diversify away from oil.
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The global solar inverter industry will contract over the next two years as markets in China, Europe and the US confront new volatility.
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, …
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 …
“The solar plants will be exposed to power prices and, obviously, that brings in a lot of risk for these plants,” says Lara Hayim, solar analyst at BloombergNEF.
The global solar inverter market will contract for two consecutive years, declining 2% to 577 GWAC in 2025 and a further 9% to 523 …
Over 90% of Manufacturers Have Disappeared: A Surge in Upgrades for Photovoltaic Inverters! As of May 28, 2025, the photovoltaic inverter market has witnessed a …
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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 …
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 …
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 …
Europe Turns Spotlight On Solar Inverters With Labelling As "High Risk Dependency'' Solar inverters, where non-Chinese firms held their own until 2020 seem to be …
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