Domestic suppliers strengthen grip on booming Chinese inverter market

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

China’s PV inverter market grew more than 100% last year, with domestic firms dominating the top of the rankings, according to IHS.

The market research firm’s ‘PV inverter China market report 2014’ said explosive growth in inverter sales in China last year saw revenues mushroom from US$400 million in 2012 to US$800 million.

Chinese suppliers were the chief beneficiary of this, with the top 10 positions occupied entirely by domestic companies for the second year running.

At the top of the list for the fourth consecutive year was Sungrow, which had 30% of the market share in 2013.

The other top-five suppliers were TBEA Sunoasis, Emerson Network Power, Chint and KStar.

But the fact each of these enjoyed less than 4% market share each IHS said illustrates the difficult business conditions faced by Chinese inverter manufacturers.

“Low pricing caused by fiercely competitive local companies, highly complex business conditions and lengthy credit terms have either prevented them from succeeding in gaining a sizable share of the market, or forced them to concentrate on other regions,” IHS said.

Nevertheless, IHS said burgeoning demand would generate robust growth in the Chinese PV inverter market in coming years, with shipments forecast to reach 18GW by 2018.

Although utility-scale PV projects accounted for some 93% of inverter revenues last year, IHS said the distributed PV market would become increasingly important for inverter suppliers.

China has set a target of 8GW of distributed PV for 2014. IHS said that although a slow start to the year meant probably only 4GW of that would get built, distributed systems would become an increasingly important market for inverter suppliers, prompting a shift to lower power inverters.

“After several years of dramatic growth for huge ground-mount utility-scale projects in remote areas of the country, China has begun to place increased emphasis on the development of distributed rooftop solar in areas with high demand for electricity,” said Frank Xie, senior PV market analyst at IHS.

This growing demand for smaller inverters will lead to changes to the PV inverter supplier rankings in 2014 and 2015, Xie added.

“Although small string inverters will account for a growing share of the market, IHS forecasts that large central inverters will remain the mainstream for utility-scale PV systems in China due to their lower upfront cost and fewer connection points,” Xie concluded. “High power inverters are predicted to account for 80 percent of shipments to these systems in 2018.”

The changing dynamics of the international solar inverter market will be the subject of a webinar from IHS and PV Tech due to be held on 29 July 2014. For further details and to register, click here.

19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.
20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.
20 October 2021
The race is on but we need to sprint… With global climate talks fast approaching and time running out to prevent the most disastrous impacts of climate change, now is the time to act. The Summit will explore the opportunities that emerge from taking action on climate change and provide a clear pathway forward for governments, citizens and companies. Taking place just 10 days before the G20 meeting in Rome, on 30-31 of October, and in the lead up to the critical COP26 meeting in Glasgow from 31 October–12 November, this event will be instrumental in influencing ambitious global action.
10 November 2021
The solar tracker market continues to mature at breakneck speed, with designs and component selections becoming ever-more complex in the pursuit of better project economics. But a more simplistic design could deliver a triple benefit of lower Capex, EPC and Opex costs. This webinar will set out the ideal single axis tracker design for utility-scale solar farms. The design leapfrogs from decades of experience, with a comprehensive understanding and attention to the three cost structures of Capex, EPC and Opx. Sun and Steel Solar has prototyped a single axis tracker designed to deliver up to US$0.03/W in real savings compared to existing single axis trackers on the market. That’s US$30 million for every gigawatt deployed.
15 November 2021
The 10th edition of the famous Metallization and Interconnection Workshop, MIW2021, will take place in the Thor Central venue in Genk, Belgium, on Monday, November 15, and Tuesday, November 16, 2021 as a face-to-face meeting. We are longing for direct exchange of knowledge and ideas after a long time. Hopefully you can be part of it! But of course, the organizors will keep an eye on the evolution of the Covid pandemic. It will be assess carefully, whether the workshop can be held without major risks or excessive restrictions. We are looking forward to exciting talks, discussions and meetings and to welcoming you in Genk!
23 November 2021
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 23-25 November at the NEC.There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 

Read Next

October 18, 2021
Heterojunction cell and module manufacturer Meyer Burger has appointed a new CFO just one year after incumbent Jürgen Schiffer took on the role.
October 18, 2021
Italian grid operator Terna has acquired Italian solar O&M provider LT in a €24 million (US$27.8 million) transaction.
October 18, 2021
Recent solar wafer and cell price increases from both LONGi Solar and Tongwei, which have seen prices rise by between 5.6 – 7.7%, have underscored heightened volatility in the solar supply chain.
October 18, 2021
Canadian pension investor OMERS Infrastructure has acquired a 49% interest in the Australian renewable energy platform of utility-scale solar developer Fotowatio Renewable Ventures (FRV).
October 18, 2021
US independent power producer Silicon Ranch has acquired Clearloop, a start-up that helps companies offset their carbon emissions by funding new solar projects.
PV Tech Premium
October 18, 2021
PV Tech Premium speaks with a global shipping analyst to discuss the industry's sky high prices, delays to delivers and when the situation may improve

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 19, 2021
BRISTOL, UK
Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021