Huawei Dominates Global Inverter Market in 2024 – Chinese Firms Control 90% of Top Suppliers

The solar inverter industry saw massive growth in 2024, with global shipments hitting 589 GW (AC)—a 10% increase from 2023. But one trend stood out: Chinese companies now dominate the market, taking nine of the top 10 spots in global inverter supply.

According to a new Wood Mackenzie report, Huawei led the pack as the #1 inverter supplier for the 10th consecutive year, followed by Sungrow, Ginlong Solis, Growatt, and Sineng. Together, Huawei and Sungrow alone accounted for 55% of the global market share—a staggering level of industry control.

Key Market Insights for 2024

🌍 Asia-Pacific (APAC) Drove Demand – 69% of all inverter shipments went to APAC, with China alone making up over half (330 GW AC, +14% YoY).
📉 Europe & U.S. Saw Declines – Shipments dropped sharply in these regions due to:

• Excess inventory (especially in Germany & the Netherlands)

• Weakening residential solar demand in the U.S.

• Lower demand for central inverters

Why Are Chinese Inverter Companies Winning?

✅ Cost Efficiency – Chinese manufacturers offer competitive pricing without sacrificing quality.
✅ Strong Domestic Market – China’s massive solar expansion fuels local demand.
✅ Technological Edge – Huawei & Sungrow lead in smart inverters with AI-driven optimization.
✅ Global Supply Chain – Chinese firms have better supply chain resilience post-pandemic.

What’s Next for the Inverter Market?

🔮 More Consolidation – Smaller players may struggle to compete with China’s pricing power.
⚡ Growth in Emerging Markets – Middle East, Africa, and Southeast Asia will likely drive future demand.
🔄 Tech Innovations – Expect more hybrid inverters, battery integration, and AI-powered energy management.

Final Thoughts

China’s dominance in solar inverters is unstoppable for now, but geopolitical factors (like U.S. tariffs or EU restrictions) could shake things up. For installers and solar buyers, Huawei and Sungrow remain the safest bets in terms of reliability and support.

What do you think? Will Western inverter makers catch up, or is China’s lead too strong? Drop a comment below! ⬇️

Source: Wood Mackenzie (2024 Global Inverter Market Report)