Jun 2, 2025 · The photovoltaic (PV) inverter sales market encompasses the global demand and supply dynamics of inverters used in solar photovoltaic systems. These inverters are essential
So in the photovoltaic inverter market, what are the leading brands? This article is an inventory of China best top 10 PV inverter companies in 2024, for your reference. The China best top 10 PV inverter companies in 2024 include HUAWEI, TYCORUN, JOEYOUNG, SUNGROW, SINENG, Growatt, GOODWE, TBEA, KELONG, KSTAR.
The China best top 10 PV inverter companies in 2024 include HUAWEI, TYCORUN, JOEYOUNG, SUNGROW, SINENG, Growatt, GOODWE, TBEA, KELONG, KSTAR. 1. PV inverter market prospect in 2024 In recent years, the rapid development of photovoltaic and energy storage markets has opened up incremental space for the inverter market.
The top five vendors – Huawei, Sungrow, Ginlong Solis, Growatt, and GoodWe – shipped more than 200 GWac and accounted for 71% of total global PV inverter shipments in 2022, growing 8% from 2021. Huawei’s shipments saw a significant increase of 83% in 2022 compared to 2021, while Sungrow’s shipments expanded 56% in the same period.
As a global leader in technology and telecommunications, Huawei also produces innovative and reliable string and central inverters for solar power systems. 2. Sungrow Power Supply Co. Ltd.
INVT is a Chinese company that was founded in 2001 and is headquartered in Shenzhen, China. It is one of the top solar inverter manufacturers in China. The company specializes in the development, production, and sales of solar inverters, energy storage systems, and related products.
A well-known brand in the solar industry, SMA produces high-quality string and central inverters for both residential and commercial solar systems. 4. Ginlong Technologies Co. Ltd.
The global residential solar storage and inverter market is experiencing rapid expansion, with demand increasing by over 300% in the past three years. Home energy storage solutions now account for approximately 35% of all new residential solar installations worldwide. North America leads with 38% market share, driven by homeowner energy independence goals and federal tax credits that reduce total system costs by 26-30%. Europe follows with 32% market share, where standardized home storage designs have cut installation timelines by 55% compared to custom solutions. Asia-Pacific represents the fastest-growing region at 45% CAGR, with manufacturing innovations reducing system prices by 18% annually. Emerging markets are adopting residential storage for backup power and energy cost reduction, with typical payback periods of 4-7 years. Modern home installations now feature integrated systems with 10-30kWh capacity at costs below $700/kWh for complete residential energy solutions.
Technological advancements are dramatically improving home solar storage and inverter performance while reducing costs. Next-generation battery management systems maintain optimal performance with 40% less energy loss, extending battery lifespan to 15+ years. Standardized plug-and-play designs have reduced installation costs from $1,200/kW to $650/kW since 2022. Smart integration features now allow home systems to operate as virtual power plants, increasing homeowner savings by 35% through time-of-use optimization and grid services. Safety innovations including multi-stage protection and thermal management systems have reduced insurance premiums by 25% for solar storage installations. New modular designs enable capacity expansion through simple battery additions at just $600/kWh for incremental storage. These innovations have improved ROI significantly, with residential projects typically achieving payback in 5-8 years depending on local electricity rates and incentive programs. Recent pricing trends show standard home systems (5-10kWh) starting at $8,000 and premium systems (15-20kWh) from $12,000, with financing options available for homeowners.