Growatt Third Behind SolarEdge, SMA in Single Phase Inverter Shipments

Growatt with 11% market share of single-phase inverters in 2019, finished in the third-place in the PV Inverter Market Tracker by IHS Markit.

Growatt, a leading Chinese manufacturer of PV string inverters took over 11 percent market share of single-phase inverters worldwide in 2019, coming in the third-place after SolarEdge and SMA according to PV Inverter Market Tracker by IHS Markit. By the end of last year, the firm had shipped more than 1.7 million inverters worldwide and its inverters have been installed in over 100 countries and regions.

In 2019, the firm had expanded its businesses aggressively in key solar markets across the globe. The company continues to increase investments and strengthen its network in the Americas, Europe and APAC. Its new X generation single-phase inverters, MIN 2500-6000TL-X series and battery ready MIN 2500-6000TL-XH series are well received by the market and sales of the new inverters increased dramatically last year.

Lisa Zhang, Growatt marketing director attributed the achievement to the company’s strong and extensive supply-chain network built through the years as well as its focus on innovation, quality and service. “The string inverter segment is where Growatt has its strategic competitive advantages. Besides the X single-phase inverter series, we are launching new generation three-phase inverters this year, including MOD 3-15KTL3-X series for residential applications and MID-15-40KTL3-X series for the C&I sector. These smart and high-efficiency innovations will generate higher yields for customers,” said Zhang.

Looking ahead, the firm has a vision where households and businesses will have clear access to smarter and safer green energy. “For this purpose, we’ve developed our solar storage products, OSS(Online Smart Service) system and smart energy solutions,” Zhang pointed out. “In the future, we’ll continue to focus on R&D to increase electricity generation, enhance system safety, and smart O&M!”

In April, we had reported that with shipments of an aggregate capacity of more than 5 GW during the year, Growatt had secured the 8th position in the top 10 global PV inverter suppliers for 2019 list which was compiled research agency Wood Mackenzie.