PVTIME – Yesterday, Century New Energy Network’s analysis team released the export data of inverters manufactured in China in May 2020. Statistics show that the value of export of inverters made in China in May was USD $228.6 million (including photovoltaic inverter, off-grid solar energy inverter, vehicle inverter, etc.), a 1.47% decrease from April. Compared with the USD 260 million from May of last year, this is a year-on-year decrease of 12.08%. Although the downward export trend continued from April to May, the decline was relatively small.
According to data compiled by Century New Energy Network, domestic inverter enterprises continued to be the main force in the export market with the top 15 enterprises accounting for 65.97% of the total export value. Accounting for 12.23% of inverter export value, Sungrow attained the top spot for the month. Huawei came in second with 11.34% of the total export value, while AISWEI broke into the top three with 4.63% share of total export value. Growatt, Delta, GoodWe, Solis, SOFARSOLAR, Chint, and SolaX Power occupied the remaining seven seats in the top ten.
Looking at the top ten enterprises, Sungrow and Huawei have firm leads over the other rest of the top ten with their >10% share of the total export value. Competition between the third to eighth spots is fierce with the gap between enterprises not as significant. Furthermore, the jostling for position from ninth to fifteenth is intense as enterprises are neck and neck with one another.
The Netherlands is once again the number one destination for Chinese inverter exports, taking in nearly 56.5 million USD in shipments, accounting for 24.71%. The U.S ranked second in May by accounting for 9.5, a 0.46% improvement month-to-month. Australia overtook Germany as third place as it took in 6.59%. Germany and South Africa ranked fourth and fifth with 6.01% and 4.39%, respectively. South Africa showed strong growth and appeared in the top five after not placing in the top ten in April. With this, there were five markets which took in more than 10 million USD in Chinese inverters for the month of May compared to four in April.
Domestic enterprises such as Sungrow, Huawei, Growatt, GoodWe, and Solic, etc. all have made significant efforts in transforming the Netherlands into their number one export destination. AISWEI has focused its efforts in developing the German market as well as the Netherlands market while SOFARSOLAR has been working the Polish market among others. For Chint, the U.S market was an important its operations in the month of May.
