- Sungrow and Huawei retain the top positions in Wood Mackenzie’s 2026 global solar inverter manufacturer ranking.
- Cybersecurity, supply chain resilience and long term service capabilities are becoming key procurement criteria for solar projects.
- Chinese manufacturers dominate the sector, accounting for 16 of the 23 companies assessed.
Sungrow and Huawei have retained the top positions in Wood Mackenzie’s 2026 Global Solar Inverter Manufacturer Ranking for the second consecutive year, reflecting growing industry demand for suppliers that can demonstrate operational resilience, cybersecurity readiness and long term reliability.
The latest assessment ranked 23 inverter manufacturers from seven countries, representing around 90% of global inverter shipments in 2025. Germany based SMA secured third place, while GoodWe and Enphase rounded out the top five. Hoymiles and APSystems entered the top ten for the first time, highlighting increasing competition across the global inverter market.
2026 Global Solar Inverter Manufacturer Ranking. Source: Wood Mackenzie
According to Wood Mackenzie, developers, investors and lenders are placing greater emphasis on manufacturing diversification, after sales support, ESG performance and financial stability as solar projects increase in scale and complexity. Evolving trade barriers, local content requirements and cybersecurity regulations are also reshaping procurement strategies across major solar markets.
Huawei and Sungrow were the only manufacturers to satisfy all eight benchmark criteria used in the ranking. Both companies performed strongly across research and development, manufacturing diversification, financial strength and global service capabilities.
“The criteria used to evaluate inverter suppliers continue to expand as solar projects become larger and more complex,” said Timothy Shen, Senior Research Analyst at Wood Mackenzie.
“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.”
2026 Grade A inverter manufacturers. Source: Wood Mackenzie
A total of 21 manufacturers achieved Wood Mackenzie’s Grade A designation in 2026, demonstrating continued improvements in transparency, operational performance and service quality across the industry. To qualify, suppliers were required to meet at least five benchmark criteria and achieve a minimum score of 70 out of 100.
Manufacturers were assessed using a weighted scorecard based on eight categories. After sales service and warranty, research and development, and supply chain stability each accounted for 20% of the overall score. ESG and corporate social responsibility performance represented 15%, while capacity utilisation accounted for 10%. Third party certifications, financial conditions and manufacturing experience each contributed 5%.
Cybersecurity emerged as a major differentiator in this year’s ranking. Utilities, project developers and financiers are increasingly incorporating cybersecurity standards into procurement processes, particularly in North America and Europe, where concerns around grid security, software integrity and regulatory compliance continue to influence supplier selection.
Operational resilience also featured prominently in the assessment. Five of the top ten ranked manufacturers now have the capability to supply all major global markets, while investment in manufacturing facilities outside China continues to grow in response to tariffs, local content requirements and changing trade policies.
The report also highlighted progress in sustainability and innovation across the sector. Nine of the top ten manufacturers achieved an EcoVadis rating of Silver or higher, while all top ten suppliers invested more than 4% of annual revenue into research and development. These investments are supporting improvements in grid forming technology, energy storage integration and power quality management.
Chinese manufacturers accounted for 16 of the 23 companies evaluated, underlining the country’s continued dominance in the global inverter industry. However, suppliers from Europe, North America and Japan maintained strong positions through differentiated technologies, established service networks and regional market expertise.
“As inverter procurement becomes increasingly sophisticated, manufacturers are competing on a broader set of criteria than ever before,” said Joe Shangraw, Research Analyst at Wood Mackenzie.
“The suppliers best positioned for future growth will be those that combine technology leadership with global execution, operational resilience and strong customer support capabilities.”
Wood Mackenzie publishes its Global Solar Inverter Manufacturer Ranking twice each year, with the methodology regularly updated to reflect changes across the global photovoltaic industry.
Author: Bryan Groenendaal
