H1 China’s top five solar inverter manufacturers account for 36% of global exports
According to the latest trade data, in the first half of 2019 (H1), China’s top five solar inverter manufacturers accounted for 36.44% of global inverter exports. Huawei, Sunshine Power, Jinlang Technology, Goodway and Guruwatt became the top five inverter companies in China in the first half of 2019.
In the first half of 2019, China’s PV inverter exports increased for the third consecutive year. According to import and export customs data, China’s inverter export value is 1.3 billion US dollars, and the top 20 PV inverter companies account for nearly 50% of exports.
“Although the solar inverter market has been turbulent since 2018, Jinlang can continue to increase sales, market share and export volume of the series inverter portfolio,” said Jinlang Technology. “We will pass the US, Europe. Strategic offices in Australia, India and Mexico to support our inverter export expansion.”
According to Mercom’s India 2019 solar market rankings, Jinlang is also one of India’s leading suppliers of series inverters. Other Chinese suppliers, such as Huawei and Sunshine Energy, are also India’s leading inverter suppliers.
Half of China’s inverters are exported to the five countries: the Netherlands (16%), the United States (15%), Vietnam (10%), India (6%) and Germany (5%). Currently, the US market has changed, but the Dutch, German and Korean markets remain unchanged. On the other hand, the Vietnamese market has declined.
International PV inverter giants such as Siemens and Schneider and ABB Group have slowly withdrawn from the inverter business, leaving a gap in Chinese companies’ continued expansion and consolidation of their global activities. Mercom reports that ABB’s inverter market in India accounted for 24% of the market in 2018, followed by solar energy with 16% and Huawei with 12%.