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 increasingly prioritize manufacturing diversification, cybersecurity readiness, and long-term operational reliability when selecting inverter suppliers. SMA ranked third, while GoodWe and Enphase completed the top five. The ranking, published on June 11, 2026, assessed 23 inverter manufacturers from seven countries, representing approximately 90% of global inverter shipments in 2025.
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. Hoymiles and APSystems entered the top ten for the first time, reflecting intensifying competition across the global inverter market. Twenty-one manufacturers achieved Wood Mackenzie's Grade A designation in 2026, up from previous years, reflecting continued improvement in transparency, operational capability, and service quality across the industry. To qualify for Grade A status, manufacturers must satisfy at least five benchmark criteria and achieve a minimum score of 70 out of 100. Chinese manufacturers accounted for 16 of the 23 companies assessed, underscoring China's continued dominance of the global inverter industry, though suppliers from Europe, North America, and Japan maintained competitive positions through differentiated technologies, established service networks, and strong regional market presence.
The ranking is based on a weighted scorecard designed to reflect real-world buyer due diligence, evaluating manufacturers across eight criteria: after-sales service and warranty (20%), research and development (20%), supply chain stability (20%), ESG and corporate social responsibility performance (15%), capacity utilization (10%), third-party certifications (5%), financial conditions (5%), and inverter manufacturing experience (5%). "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."
Cybersecurity emerged as a growing differentiator in this year's assessment, as utilities, developers, and financiers increasingly incorporate 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. Operational resilience also became a key area of focus, with five of the top ten ranked manufacturers now maintaining the capability to supply all major global markets. 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% of annual revenue into research and development, supporting advancements in grid-forming capabilities, storage integration, and power quality management.
As trade barriers, local content requirements, and cybersecurity regulations continue to evolve across key solar markets, procurement teams are placing greater emphasis on aftersales support, ESG performance, financial strength, and global manufacturing footprints when evaluating suppliers. "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 the Global Solar Inverter Manufacturer Ranking twice annually, with methodologies reviewed regularly to reflect developments across the global photovoltaic industry.