PVTIME – Century New Energy Network recently released the Top 20 List of Chinese PV Inverter Exporters for 2019. According to the latest statistics, export value of inverters (including all inverter products such as solar and automobile inverters) manufactured in China reached 2,812 USD billion in 2019. The top 20 exporters of photovoltaic inverters combined for USD 1.429 billion.
Europe is still China’s number one market, accounting for up to 34.14% of total inverter exports while the Asian and Americas markets accounted for 29.72% and 28.67% respectively. Among photovoltaic inverter enterprises, Huawei has the absolute advantage in the European market with about half of all of its exports going to the region. Australia was second place Sungrow’s key market in 2019 and accounted for 40% of the company’s exports. Third place Solis saw success in both Europe and the Americas markets which took in about 70% of its exports.
In the top 20, Huawei claimed the top stop easily and is followed by Sungrow, Solis, GoodWe, Growatt, and Aiswei. Besides Huawei and Sungrow whose main products are utility-scale high output inverters. Soli, GoodWe, Growatt, Aiswei， Sofar Solar, Solax Solar, etc. are all producers of low to medium output inverter products more suitable for the distributed overseas market. (Note: The top 20 photovoltaic data only includes photovoltaic inverter manufacturing companies. It does not include OEM brands, agents, or freight forwarding companies. In addition, the information does not include outgoing shipment data of Chinese factories overseas.)
From a monthly perspective, aside from the large fluctuation in export value caused by the Chinese New Year during the first quarter, export value of each month remained relatively stable throughout 2019. In December, exports reached USD 269 million, the highest of the year.
Top importing countries of Chinese manufactured inverters in 2019 are as followed:
United States and the Netherlands combined for 33.32%
Among the top 10 importing regions and countries in 2019, Vietnam had a year-on-year increase of 466%, Netherlands increased by 191% year-on-year, and India increased by 340% year-on-year. Inverter exports to the United States were down 30% year-on-year and 32% year-on-year in Mexico. Ukraine, Hungary, Belarus, Mongolia, and Nepal are among other emerging markets that showed significant growth in 2019.