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Sungrow, GoodWe, Hoymiles, Solis Feature in Wood Mackenzie's Top 10 Inverter Manufacturers

Sungrow and Huawei topped Wood Mackenzie’s 2026 Global Solar Inverter Manufacturer Ranking for the second consecutive year - both companies met all eight benchmark criteria assessed across technology, manufacturing, service and financial performance. SMA, GoodWe, Enphase, Hoymiles, Solis, SolarEdge, Fronius, Solplanet and APSystems are in the Top 10.

June 12, 2026. By Mrinmoy Dey

Sungrow and Huawei retained the top position in Wood Mackenzie's 2026 Global Solar Inverter Manufacturer Ranking for the second consecutive year, as developers, investors and lenders place increasing emphasis on manufacturing diversification, cybersecurity readiness and long-term operational reliability when selecting inverter suppliers.

The ranking places Germany’s SMA at third, while China’s GoodWe and the USA’s Enphase completed the top five. Hoymiles (sixth) and APSystems (tenth) entered the top ten for the first time. The remainder of the top ten includes China’s Ginlong Solis at seventh, Israel’s SolarEdge at eighth, Austria’s Fronius at ninth and China’s Aiswei/Solplanet at joint tenth.

The latest ranking assessed 23 inverter manufacturers from seven countries, representing approximately 90 percent of global inverter shipments in 2025. As trade barriers, local content requirements and cybersecurity regulations continue to evolve across key solar markets, procurement teams are placing greater emphasis on after-sales support, Environmental, Social and Governance (ESG) performance, financial strength and global manufacturing footprints when evaluating suppliers, stated Wood Mackenzie.

It further added that Huawei and Sungrow were the only manufacturers to meet all eight benchmark criteria assessed in the ranking, distinguishing themselves through strong performance across research and development, manufacturing diversification, global service coverage and financial strength.

Timothy Shen, senior research analyst at Wood Mackenzie, said, “The criteria used to evaluate inverter suppliers continue to expand as solar projects become larger and more complex. Buyers are increasingly assessing manufacturers on their ability to provide reliable long-term support, maintain diversified manufacturing footprints and meet growing cybersecurity and compliance requirements alongside traditional performance metrics.”

Twenty-one manufacturers achieved Wood Mackenzie's Grade A designation in 2026, reflecting continued improvement in transparency, operational capability and service quality across the global inverter industry. To qualify, manufacturers must satisfy at least five benchmark criteria and achieve a minimum score of 70 out of 100.

Cybersecurity emerged as a growing differentiator in this year's assessment. Utilities, developers and financiers are increasingly incorporating cybersecurity requirements into procurement processes, particularly in North America and Europe, where concerns around grid security, software integrity and regulatory compliance continue to influence supplier selection, stated Wood Mackenzie.

It further added that operational resilience also became a key area of focus. Five of the top ten ranked manufacturers now maintain the capability to supply all major global markets, while investments in manufacturing capacity outside China continue to accelerate in response to tariffs, local content requirements and evolving trade policies.

The ranking also highlighted continued progress in sustainability and innovation. Nine of the top ten manufacturers achieved an EcoVadis rating of Silver or higher, while all top ten suppliers invested more than 4 percent of annual revenue into research and development, supporting advancements in grid-forming capabilities, storage integration and power quality management.

Joe Shangraw, Research Analyst at Wood Mackenzie, remarked, “As inverter procurement becomes increasingly sophisticated, manufacturers are competing on a broader set of criteria than ever before. The suppliers best positioned for future growth will be those that combine technology leadership with global execution, operational resilience and strong customer support capabilities.”

Chinese manufacturers accounted for 16 of the 23 companies assessed, underscoring the country's continued dominance of the global inverter industry. However, suppliers from Europe, North America and Japan maintained competitive positions through differentiated technologies, established service networks and strong regional market presence, stated Wood Mackenzie.

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Global Solar Inverter Manufacturer Rankings

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