Growatt consolidates market-leading position as global top 10 brand
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SHENZHEN, China, June 17, 2021 /PRNewswire/ -- Global PV inverter shipments increased by more than 35% in 2020 despite the pandemic according to IHS Markit's latest PV Inverter Market Tracker, with Growatt consolidating its market-leading position as one of the world's top 10 brands.
In 2020, Growatt continued to be the top Chinese supplier of residential inverters, ranking third globally. "For distributed solar energy, especially residential, Growatt has very strong competitive advantages over other brands. Our products and solutions are highly trusted and are extremely popular in mature solar markets like Europe and Australia as well as emerging markets like Brazil," commented Lisa Zhang, Marketing Director at Growatt.
The company also ranked among the world's top 5 suppliers of three-phase string inverters for commercial and industrial solar PV projects. Zhang attributed these achievements to the company's continuous product innovations and localization strategy adopted since its establishment. "We have established an extensive service network with 20 offices and warehouses worldwide, enabling our team to deliver efficient technical support and service to our customers. With such dedicated local teams, we have been able to weather the impact of COVID-19 and continue to expand our business globally," Zhang continued.
By the end of 2020, Growatt had shipped over 2.6 million inverters to more than 100 countries. The company has also developed the new X inverter series that feature sleek and compact design as well as safer and smarter functionalities. "We're very glad to see the growing popularity of our new generation of products across global solar markets. It's great recognition of our dedication to product innovation for our customers," said Zhang.
To meet surging demand, the company has built a new factory in Huizhou, China to boost production capacity. The new facility, covering an area of 200,000 square meters, features advanced production lines, a stringent quality control system, automated transfer and storage systems. "With 20GW annual output, we are now able to meet the growing global demand for our products and make sure customers can have clear access to clean and smart energy," Zhang concluded.
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