Global and China Photovoltaic Inverter Industry Report, 2017-2021

PV power generation has been burgeoning with policy incentive and robust demand from downstream sectors over the recent years. In 2017, the global newly installed PV capacity reached 102GW (including 52.8GW from China with a 51.8% share), soaring by 37% from a year earlier, and the cumulative installed PV capacity surged by 33.7% year-on-year to 404.6GW (including 130.3GW from China with a 32.2% share).

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With a rapid rise in demand from downstream sectors, the global shipments of PV inverters was estimated to be 105GW in 2017, an upsurge of 55.6% on an annual basis; and the world market size of PV inverters reported USD10.1 billion. Particularly, the shipments of PV inverters in China were estimated to be 53.5GW and market size about RMB7.4 billion.

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The world-renowned PV inverter suppliers are Huawei, Sungrow, SMA, ABB, SolarEage, etc. It is in recent two years that the players Huawei and Sungrow from China outperformed SMA by shipments and rose to the No.1 and No.2 places respectively, but still ranked behind SMA in terms of revenue and ranked No.2 and No.3 separately. As far as shipment is concerned, the Chinese competitors Sineng Electric and TBEA are also among the world’s top 10 suppliers of PV inverter by shipments.

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Chinese PV inverter market characterizes high concentration, with Huawei and Sungrow taking the lion’s share, and impressively in 2016 holding a combined share of nearly 70%, followed by Sineng Electric (No.3), TBEA (No.4) and Shenzhen KSTAR (No.5) as concerns shipments.

After high-speed growth in 2017, the global newly installed PV capacity is expected to stabilize at 85GW or so over the next couple of years, which will cause fluctuations of PV inverter shipments in certain range. As estimated, the global shipments of PV inverters will be approximately 90GW and China’s 45.5GW in 2021.

Global and China Photovoltaic Inverter Industry Report, 2017-2021 covers the following:
Global PV inverter industry (status quo, market size, supply & demand and market pattern);
China PV inverter industry (market environment, status quo, market size, supply & demand, competitive landscape, development factors);
Upstream (IGBT, IC, transformer, etc.) and downstream (PV & PV power station) of PV inverter;
12 Global and 20 Chinese PV inverter suppliers (operation, revenue structure, PV inverter business, etc.)

Companies Profiled:

SMA
ABB
SolarEage
TMEIC
Enphase
AE
Danfoss
Omron
Schneider
Fronius
SolarMax
KACO
Sungrow Power Supply Co., Ltd.
Huawei
Tebian Electric Apparatus Stock Co., Ltd. (TBEA)
Shenzhen KSTAR Science and Technology Co., Ltd.
Xiamen Kehua Hengsheng Co., Ltd.
Guangdong East Power Co., Ltd.
Ningbo Ginlong Technologies Co., Ltd.
GoodWe (Jiangsu) Power Supply Technology Co., Ltd.
Shenzhen Clou Electronics Co., Ltd.
Rongxin Power Electronic Co., Ltd.
Shenzhen Hopewind Electric Co., Ltd.
Sineng Electric Co., Ltd.
Hangzhou Sunny Energy Science & Technology Co., Ltd.
Guangzhou Sanjing Electric Co., Ltd.
Shanghai Chint Power Systems
Growatt New Energy Technology Co., Ltd
Samil Power Co., Ltd.
Guanya Power Equipment Co., Ltd
Anhui EHE New Energy Tech. Co., Ltd
Beijing Corona Science & Technology Co., Ltd.

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