Century New Energy Network: Top 20 Chinese PV Inverter Exporters of 2019

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%

India, 6.02%

Brazil, 5.93%

Vietnam 5.92%

Germany 5.19%

Australia, 4.35%

Mexico, 3.59%

Japan, 3.33%

UK, 2.36%

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.