The pair shipped a combined 324 GWac—roughly 55 % of all inverters sold—each posting its highest share on record. Huawei widened its margin, delivering 176 GWac thanks to strong utility-scale demand at home and brisk growth in Latin America, Africa and parts of Europe. Global PV inverter shipments increased by 10% to 589 GWac in 2024, with growth occurring in Asia Pacific and the Middle East, while the US and European markets contracted, according to a report by Wood Mackenzie. CHN Energy has announced the results of its 10 GW central purchasing tender for PV inverters for 2023. 1. “ Huawei and Sungrow ranked first and second in the rankings for the 10th consecutive year, combining for 55% of the global inverter market. What is the global solar PV inverter market like in 2023? Global solar PV. Global demand for solar-power hardware shows few signs of slowing.