Five companies dominated 85% of the inverter market in the 1st quarter

At the first quarter of this year, more than 62 GW in the process of purchasing photovoltaic inverters in China, a 32% increase compared to the same period in 2023, according to a study by Solarbe Global.

Currently, the China and the largest solar energy market in the world, with more than 609 GW in operation, a volume almost six times greater than the second place: the United States (137 GW), according to data from IRENA (International Renewable Energy Agency, its acronym in English).

You string inverters are the technology that comes dominating the market at the beginning of the year, responding for 80% of total requests, with inverters over 300 kW representing 84% in this category. 

To the five companies The most successful in open competitions at the beginning of the year were: Sungrow, Huawei, Sineng Electric, Zhuzhou Converter and TBEA, which together represented almost 85% of total order volume. 

A Sungrow is the best performing manufacturer at the beginning of the year, guaranteeing the closure of 5 GW in proposals, followed by Huawei, with 4.85 GW. In turn, Sineng Electric, Zhuzhou Converter and TBEA also had significant results in closing contracts. 

In addition to them, the study also attracts attention for some companies that signed contracts exceeding 200 MW each in the first quarter of 2024, such as KE Electric, Solis, Sofar and HRV Electric, as illustrated in the image below.

Inverter manufacturers with the highest order volumes (MW) in Q1 in China:

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