Country for PR: China
Contributor: PR Newswire Asia (China)
Wednesday, May 29 2019 - 16:36
AsiaNet
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Growatt Ranked No.3 in World Single-Phase PV Inverter Supplier - IHS Markit
SHENZHEN, China, May 29, 2019 /PRNewswire-AsiaNet/ --

Growatt, a Chinese inverter brand which focuses on rooftop solar inverter 
solutions and has been gaining market share for the past three years, has been 
ranked No.3 in "World grid-connected single-phase PV inverter supplier market 
share estimates", according to IHS Markit, and is on track to increase in 
ranking in the future. According to Photovoltaic Brand Lab (PVBL), Growatt is 
the No.1 residential inverter brand in China.

IHS Markit released its annual PV inverter market report in early May. The 
world grid-connected PV inverter shipments remained almost flat in 2018. While 
the world grid-connected three-phase PV inverter shipments were slightly down 
at 93,427 MW, shipments of the single-phase segment increased by 11.2% to 
11,098 MW last year.

The growth was boosted by strong residential PV demand across the globe. 
SolarEdge and SMA, which remained the No.1 and No.2 single-phase inverter 
supplier respectively, were followed by Growatt in third place. 

Photo - https://photos.prnasia.com/prnh/20190529/2480419-1 
Growatt Ranked No.3 in World Single-Phase PV Inverter Supplier - IHS Markit

According to IHS Markit, there's an apparent growth transition from 
utility-scale solar farms to distributed solar installations. This process has 
taken place in the US, Europe and China. Furthermore, in Germany, the 
installations of utility-scale solar farms are very limited now, leaving room 
for smaller solar systems to be developed for residential and commercial use. 
Another trend in rooftop solar is the self-consumption model, which means solar 
storage solutions will play an increasingly important role in this sector. 

As the growth momentum of utility-scale solar weakens, inverter companies are 
looking at the rooftop market for higher growth. However, the landscape of 
rooftop solar are quite different. Rooftop solar systems are widely scattered, 
and product reliability and service capability really matter. Customers prefer 
inverters companies that provide high-quality products, local after-sales 
services and online service capabilities.

Source:Growatt
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