The selection process by Forbes China involved a comprehensive evaluation of companies based on their global market expansion, brand influence, innovation capabilities, and financial performance. This recognition reinforces Growatt's position as a benchmark for Chinese enterprises in their journey of international growth. “We are honored to receive this recognition from Forbes China,” said Lisa Zhang, Vice President of Growatt. “Our success stems from our deep understanding of diverse market needs and our ability to deliver innovative, reliable energy solutions across different regions.”
In 2024, Growatt has made significant strides in expanding its global footprint, with notable success in emerging markets across APAC, the Middle East, and Africa. The company has shown exceptional ability in adapting its energy solutions to meet specific regional requirements, contributing to sustainable and resilient energy infrastructure worldwide. Its manufacturing facility in Haiphong, Vietnam, with an annual production capacity of 500,000 inverters and 100,000 batteries, strengthens the company's global supply chain and ensures consistent product quality for customers worldwide.
The manufacturer has established a business strategy of globalization and localization through a localized sales network, warehousing and after-sales service worldwide. By deploying local sales teams to work directly with end-user-oriented installers and system integrators, Growatt effectively connects sales channels, improves marketing efficiency, and accurately grasps the needs of end-users. The company operates 58 locally managed after-sales service outlets in 24 countries, supported by a total of over 300 after-sales service personnel. Committed to its partners and customers, Growatt held over 80 roadshows globally in 2024, providing comprehensive product training and technical support across various regions.
At the heart of Growatt's success lies its dedication to innovation, with 4.6% of annual revenue invested in research and development. The company maintains multiple professional R&D centers staffed by over 1,100 engineers, including PhDs and senior engineers. This commitment has resulted in numerous patents across its product range, which includes PV inverters, energy storage systems, EV chargers, and smart energy management solutions. A notable innovation is the WIT series hybrid inverter, designed for commercial and industrial energy storage applications and compatible with the company's modular battery systems. Additionally, Growatt has made significant advancements in microinverter technology, making solar power more accessible for urban residents through balcony installations.
The company's market leadership is evident in its position as the Global Top 2 Residential Inverter Supplier, Global Top 5 PV Inverter Supplier, and its strong presence across various solar inverter market segments. In 2024, Growatt received 14 Top PV Brand awards and two SolarProsumerAwards from EUPD Research, confirming its brand strength in the global energy sector. With an extensive distribution network spanning over 180 countries and 65 representative offices worldwide, Growatt provides localized support and services to customers across diverse markets.
As the renewable energy sector continues to expand globally, Growatt maintains its focus on innovation and market development while advancing sustainability initiatives. The company's strategic vision aligns with the worldwide transition toward cleaner energy solutions, positioning it as a key player in shaping a sustainable energy future.
