The top 10 manufacturers accounted for 71% of the global market share
LONDON/HOUSTON/SINGAPORE, Jan 5 – Huawei and Sungrow ranked as the top two global solar inverter manufacturers for the first half of 2025, with scores of 93.9 and 93.7, respectively. This ranking is based on the Global Solar Inverter Manufacturer Rankings H1 2025 report from Wood Mackenzie.
The rankings evaluate 23 leading manufacturers from seven countries based on eight performance criteria, accounting for approximately 90% of global shipment volumes in 2024.
“The 2025 global inverter landscape is led by a diverse group of power-electronics leaders combining scale with innovation,” said Timothy Shen, Senior Research Analyst at Wood Mackenzie. “Increasingly, competitive advantage is defined not just by shipment volume, but by capabilities across pioneering Environmental, Social, and Governance (ESG) initiatives, service quality and stable supply chains.”
Global top ten solar inverter manufactures
Source: Wood Mackenzie
ESG and service emerge as key differentiators
A significant finding from the H1 2025 ranking is the maturation of ESG practices. Six of the top 10 companies achieved an EcoVadis ranking of silver or higher, placing them in the top 15% of companies globally for sustainability.
Furthermore, all top 10 manufacturers now offer warranty extensions of 20 years or more. This shift reflects increased confidence in product longevity and a commitment to matching the operational lifespan of solar modules, reducing long-term risk for developers and asset owners.
Innovation remains robust despite pricing pressure
Despite sustained pricing pressure, innovation remains a key competitive differentiator. Eight of the top 10 inverter manufacturers reinvest more than 6% of revenue into Research & Development, driving advances in digitalisation, power-conversion technologies and faster product refresh cycles, alongside expanding patent portfolios.
Geographic diversification accelerates to mitigate trade risk
Manufacturing footprints are shifting in response to evolving global trade dynamics. Four of the top 10 solar inverter manufacturers now provide global production coverage, with facilities spanning China, Europe, India, the US, Southeast Asia and Israel.
“The strongest performers are those leveraging regionalised assembly strategies,” Shen commented. “This strategic positioning allows manufacturers to comply with local content requirements and navigate import barriers while maintaining their supply reliability.”
Market concentration and ‘Grade A’ recognition
Grade A inverter manufacturers
Source: Wood Mackenzie
Grade A is awarded to manufacturers that meet Wood Mackenzie’s benchmark for industry best practice, demonstrating consistent and verifiable performance across the key criteria assessed in this ranking. To achieve Grade A status, a manufacturer must meet at least five of the defined benchmarks, reflecting a level of capability that helps reduce execution and operational risk for developers, EPCs and asset owners.
The Grade A designation serves as a market signal, highlighting suppliers that combine operational robustness with practices aligned to global procurement standards, including performance across areas such as ESG and CSR, R&D investment and capacity utilisation.
Note to editors:
- The Wood Mackenzie inverter manufacturer ranking assesses vendors across eight weighted criteria: ESG/CSR (30%), after-sales service (15%), R&D (15%), supply chain stability (15%), capacity utilization (10%), certifications (5%), financial conditions (5%), and manufacturing experience (5%). The rankings are published biannually to incorporate the latest half-year and full-year financial performance data.
- Primary data collection comes from vendor surveys, public filings, proprietary databases and many conversations with manufacturers
- If the difference in the score is 0.2 or lower, the company will get the same rank.