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GoodWe Secures Top 3 Position Among Europe's PV Inverter Suppliers in 2022, as Per Wood Mackenzie
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Munich, 4th December 2023 - GoodWe, a prominent player in the solar solutions industry, reveals its standing as one of the top three PV inverter suppliers in Europe for the year 2022. According to reports provided by Wood Mackenzie, a renowned energy research authority, GoodWe held a notable 7% share in the dynamically expanding European market in the preceding year.
In a year marked by exceptional growth, PV inverter shipments to Europe soared to an impressive 92 GWac in 2022, contributing to 28% of the global PV market. This growth represents an impressive 82% increase year-on-year from 2021.
GoodWe's dedication to delivering cutting-edge solutions propelled the company to the third position last year, following the two industry giants Huawei and Sungrow. Despite challenges such as the pandemic, disruptions in the supply chain, and escalating raw material prices, GoodWe remained resilient by sustaining significant investments in research and development, amounting to 8% of its revenue.
Thomas Haering, President of GoodWe EMEA, remarked, "Our success in Europe can be attributed to robust partnerships in the distribution and utility segments, a diverse product portfolio catering to all market needs, superior product quality, competitive pricing, and our popular GoodWe Plus+ loyalty program for installers."
Haering emphasized the company's expansive growth across the entire EMEA region, stating, "We are on a promising trajectory in Sub-Saharan Africa and the Middle East – all crucial growth markets for us. Our ranking has climbed from No. 7 in 2021 to No. 5 in 2022 in that region."
Bolstered by optimistic forecasts for global PV markets, GoodWe is making substantial investments in research and development and ramping up production capacity. This strategic approach aims to further enable market advancements and to serve the evolving needs of customers worldwide. GoodWe remains dedicated to driving sustainable solar solutions and reinforcing its position as a key player in the European PV inverter market.
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