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Aug 15, 2023 · Huawei and Sungrow were the top two suppliers and covered more than 50% of the market themselves, seeing 83% and 56% growth in
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6 Frequently Asked Questions about “Huawei energy storage inverter shipments”
Why is Huawei a top 5 traction inverter supplier?
Strong demand from China and Europe served as the primary growth driver, leading to a 28% increase in installations for both BEVs and PHEVs compared to the previous quarter. This surge propelled Huawei into the top five global traction inverter suppliers for the first time. In 2024, global traction inverter shipments totaled 27.21 million units.
How many solar inverters were shipped in 2022?
As a result, the total global shipments of PV inverters reached 333 GWac in 2022. Among the top five vendors, Huawei, Sungrow, Ginlong Solis, Growatt, and GoodWe, more than 200 GWac was shipped, accounting for 71% of the total global PV inverter shipments in 2022. This represents an 8% increase compared to the previous year.
Why did Huawei enter the Global Top 5?
The biggest highlight of the quarter was Huawei's entry into the global top five, driven by the strong sales of its AITO EV series. With three of the top five suppliers now being Chinese companies, the market is seeing a significant shift away from the traditional dominance of European, American, and Japanese suppliers.
Which countries shipments the most inverter in the world?
With a 44% year-over-year growth in shipments, the region saw a total shipment of 167 GWac. China led the way with 78% of the inverter shipments to the Asia Pacific, followed by India and Japan. Europe accounted for 28% of the global market share, with a total of 92 GWac shipped to the region.
Why are PV inverter shipments growing?
The strong growth in PV inverter shipments can be attributed to the increased global demand for solar energy, which rose to 201 GWac in 2022. This marked a significant 48% year-over-year growth for PV inverters.
How traction inverter shipments grew in 2024?
In 2024, global traction inverter shipments totaled 27.21 million units. SiC inverters saw higher adoption thanks to Tesla and Chinese automakers, reaching a 16% penetration rate in Q4 – the highest of the year. This trend signals growth for the highly competitive power semiconductor industry. However, geopolitical tensions remain a challenge.