Sungrow solar container market share forecast

What percentage of Sungrow's revenue is from solar inverters?

Solar inverters accounted for about 37% of Sungrow’s revenue and 39% of gross profit in 2024. Sungrow is one of the two largest solar inverter companies in the world, with Huawei being its closest competitor. Each of the two had more than 20% market share globally in 2023.

Will Sungrow expand its presence in distributed solar?

The firm has established a stronghold in supplying inverters for utility-scale solar, and is trying to expand its presence in distributed solar. Distributed solar is a more fragmented market than utility-scale solar and we expect Sungrow to face more competition on this front.

Will solar inverter shipment growth accelerate Sungrow's growth?

While Sungrow has benefited from the rapid growth in global solar installations in recent years, we expect a deceleration in inverter shipment growth as the pace of new installations moderates. We expect only a 8% compound annual growth rate in solar inverter revenue over the next five years.

How much revenue does Sungrow make in 2024?

Energy storage system sales accounted for 32% of revenue in 2024, but we project it to contribute 37% of revenue in 2025, overtaking solar inverters as the largest revenue contributor. Sungrow also runs a large new energy investment and development business, representing 27% of revenue in 2024.

Is Sungrow a good solar inverter company?

Sungrow is one of the two largest solar inverter companies in the world, with Huawei being its closest competitor. Each of the two had more than 20% market share globally in 2023. Compared with the smaller players, Sungrow has a much larger presence in utility-scale solar due to its first-mover advantage.

Is Sungrow a good supplier of energy storage systems?

While best known for its solar inverters, Sungrow also stands out as a leading supplier of energy storage systems. According to the China Energy Storage Alliance, Sungrow was the largest Chinese supplier of energy storage systems in 2024 on a global shipment basis.