China's Huawei has been named the world's largest inverter supplier for the seventh consecutive year, by Sungrow and Growatt, according to a Wood Mackenzie report.

According to a new report by Wood Mackenzie, Huawei is the world's largest inverter supplier by shipments in 2021, by Sungrow.

The two companies have held the top spot since 2016, with Huawei holding the top spot for seven consecutive years. In 2021, global PV inverter shipments will reach 225,3GWac, a 22% increase over 2021.

The analyst firm noted: "Huawei's market share will remain stable at 23% in 2021, while Sungrow is not far behind, growing from about 19% in 2020 to about 21%. The third runner-up, Growatt, has a 7% market share, replacing SMA dropped to sixth place. The top three suppliers together control more than half of the global solar PV inverter market.”

According to Wood Mackenzie, GoodWe has jumped four places in 2021 and is now No. 5, thanks to high shipments to the Asia-Pacific region, particularly China and South Korea. “Israel’s SolarEdge enters the top ten for the first time – it will be ninth in 2021, adding about 1,000 MW.”

Last year, Asia Pacific was again the largest market, accounting for more than half of total shipments. The shares of Europe and the United States are 23% and 14%, respectively.