Top 5 pv inverter manufacturers in China in 2022
Photovoltaic installed capacity increases rapidly in the context of global carbon neutrality. Reshaping the energy structure is an important way to achieve carbon neutrality. By changing the energy structure, reducing the use of fossil energy and switching to renewable energy such as solar energy and wind energy, carbon emissions can be directly reduced. The pv inverter is an important part of the photovoltaic system. To make up the equipment, let’s take a look at the Top 5 pv inverter manufacturers in China.
Top 5 pv inverter manufacturers in China
Founded on July 11, 2007, Sungrow is a national key high-tech enterprise focusing on the research and development, production, sales and service of new energy power equipment such as solar energy, wind energy, energy storage, hydrogen energy, and electric vehicles.
The main products are photovoltaic inverters, wind power converters, energy storage systems, water surface photovoltaic systems, new energy vehicle drive systems, charging equipment, renewable energy hydrogen production systems, smart energy operation and maintenance services, etc., and are committed to providing world-class services. clean energy full life cycle solutions. For wind-solar power storage and hydrogen storage, the five major tracks develop simultaneously.
The company’s business mainly includes five tracks of photovoltaic inverters, wind power converters, energy storage systems, new energy vehicle drive systems, and hydrogen energy, all of which are high-prosperity development tracks.
As of 2021H1, in Top 5 pv inverter manufacturers Sungrow’s cumulative shipments of inverters have reached 182GW, becoming the company’s pillar business. In the future, the company will seize the opportunity of energy transformation under the background of carbon neutrality, strengthen business synergy such as wind power and energy storage, and develop the five major businesses simultaneously.
Maintain the leading position in the ground power station market and strengthen the expansion of distributed market channels. The company’s inverter product market share ranks first in the world. It is expected that the company’s photovoltaic inverter shipments will reach 47GW/66-70GW in 2021/2022, of which the distributed installed capacity will increase significantly. At the same time, quickly seize the newly added distributed installed capacity market.
“Cellless” energy storage system strategy, the energy storage business doubled. The energy storage system has the function of shaving peaks and filling valleys, which can effectively smooth the output curve of wind power and photovoltaics, reduce the abandonment of wind and solar energy, and ensure the stability of grid operation. New energy + energy storage will be an important way of energy supply in the future.
The company seized the opportunity of the rapid development of the energy storage industry, gave full play to the company’s strengths in power electronic equipment, adopted the “battery-free” energy storage system strategy, developed household and industrial and commercial energy storage systems, and launched 5-10kW/9.6-102.4kWh Home energy storage systems and 50kW-1MW/2-5h distributed energy storage systems have been applied in batches in the global market.
Total market value: 106.193 billion RMB
Company website： www.sungrowpower.com
Goodwe as Top 5 pv inverter manufacturers was established on November 5, 2010. Goodwe is a supplier of solar photovoltaic inverters and related products. The company’s products include grid-connected inverters, energy storage products, SEMS systems and supporting products. It can be used in household, commercial, ground and energy storage, etc. In addition, it also involves service support such as power station system design, troubleshooting and quality assurance.
Grid-connected inverters contributed the main revenue, and energy storage inverters grew rapidly. The company’s inverter shipments in 21H1 were approximately 238,500 units. Among them, the shipment of grid-connected inverters is about 217,500 units, accounting for about 91.19%;
The shipment of energy storage inverters is about 21,000 units, accounting for about 8.81%. It is estimated that the shipments of grid-connected inverters in 21 will be about 450,000 units, and energy storage inverters will be 50,000 units. The proportion of the shipment structure has been increased to 15%, and the optimization of the shipment structure is expected to further enhance profitability.
A complete range of inverter products and continuous expansion of production capacity. The company has a complete range of inverter products, fully covering the needs of households, poverty alleviation, industry and commerce, and large-scale power stations. The string photovoltaic grid-connected inverter covers the power range of 0.7-250kW, and fully meets the requirements of various types of photovoltaic modules and grid-connected grids. The photovoltaic energy storage inverter covers the power range of 2.5-10kW single machine, and provides a series of solutions such as micro grid, industrial and commercial energy storage. The company’s Guangde Phase II project of 500,000 inverters is under construction. After the project is completed, the company’s production capacity will be further enhanced.
Transform from a single new energy power supply equipment enterprise to a comprehensive energy Internet. The company is developing from a pure new energy power supply equipment enterprise to an energy Internet with functions of power generation monitoring, photovoltaic energy storage, adjustment of peaks and valleys of power demand, and data collection of load power demand.
Total market value: 19.536 billion RMB
Jinlang Technology Co., Ltd. was established in 2005. As Top 5 pv inverter manufacturers Based on the new energy industry, it is a high-tech enterprise specializing in the research and development, production, sales and service of string inverters for core equipment of photovoltaic power generation systems.
After more than ten years of development, it was successfully listed on the Shenzhen Stock Exchange on March 19, 2019. It is the first A-share listed company with string inverters as its main business, and the world’s first third-party authoritative organization. Top 5 pv inverter manufacturers in PVEL’s reliability test report.
Started with distributed string inverters and insisted on global layout. The company’s main product string inverters include single-phase and three-phase series from 2G to 5G, with a power coverage of 0.7-230kW, and a wide range of products.
At the same time, the company actively explores major global markets such as the United States, the United Kingdom, the Netherlands, Australia, Mexico, India, Brazil and Southeast Asia, and has formed long-term and stable cooperative relations with high-quality customers in many countries and regions such as Asia, Europe, America and Australia.
The demand for orders is safe, and the market share is expected to further increase. Supported by the high growth of household photovoltaic demand in Q1 2022, the company’s household photovoltaic inverter shipments are expected to hit a record high. The company’s orders are full, and the annual sales are mainly limited by the supply of raw materials. The supply of IGBTs will determine the company’s annual shipments. The company’s market share is expected to further increase.
Expanding the ground power station market, China’s central enterprises have achieved zero breakthrough in centralized procurement. On the premise of ensuring the stable growth of the household distributed market, the company continues to strengthen the development of the ground power station market.
In February 2022, it won the bid for the centralized procurement project of State Power Investment Corporation, achieving zero breakthrough in cooperation with central enterprises, and opening a good start for the follow-up company to enter the ground power station market.
Total market value: 51.076 billion RMB
Deye was established on August 4, 2000. Ningbo Deye Technology Co., Ltd. is a large-scale manufacturing technology enterprise integrating R&D, design, production, sales and service. There are four core industrial chains of environmental electrical appliances series and heat exchanger series. Channel construction + brand influence, traditional business develops steadily. The company’s business includes three major sectors: heat exchanger business, environmental electrical business and inverter business.
In terms of heat exchangers, it is deeply bound to the industry leader Midea air conditioners, and at the same time, it strengthens the development of new customers to effectively increase the company’s product sales. In terms of environmental appliances, the Company continued to strengthen channel construction and brand influence, developed online and offline simultaneously, increased product sales, and built a performance moat.
Differentiated market product strategy, the inverter business took off. Top 5 pv inverter manufacturers Deye entered the inverter business in 2017. Through a differentiated market strategy, the main products are household photovoltaic energy storage. The company relies on its years of experience in the small household appliance business to strengthen business synergy in the supply chain. Strong cost control and ability to expand overseas markets.
Since entering the inverter business in 2017, the company has rapidly opened up markets in many countries. In 2021H1, the company sold 131,900 inverters, including 68,300 string inverters, 26,200 energy storage inverters, and micro inverters. 37,400 devices, maintaining rapid growth. The inverter business is expected to become the company’s new profit growth point.
Total market value: 41.03 billion RMB
Zhejiang Chint Electric Co., Ltd. (CHINT for short) is a world-renowned one-stop supplier of low-voltage electrical products and system solutions. Zhejiang Chint Electric Co., Ltd. was established in August 1997 and is the core holding company of Chint Group. The company specializes in the research and development, production and sales of more than 100 series and more than 10,000 specifications of low-voltage electrical products such as distribution electrical appliances, control electrical appliances, terminal electrical appliances, power electrical appliances and power electronics. Communication and other industries provide increasingly perfect system solutions.
Founded more than 30 years ago, Chint Electric has provided reliable products and services to more than 140 countries and regions. Chint Electric was successfully listed on the Shanghai Stock Exchange on January 21, 2010. In 2016, the company acquired 100% of the equity of CHINT Development Co., Ltd. and injected photovoltaic power generation assets and business.
It is a Top 5 pv inverter manufacturer and a world-renowned provider of smart energy system solutions. Since its establishment 38 years ago, CHINT has always been concentrating on industry, creating a brand with one heart, focusing on the core businesses of green energy, smart electricity, and smart low-carbon cities, cultivating scientific and technological incubators, and forming a “3+1” industrial system.
Continue to deeply cultivate the international market, with business in more than 140 countries and regions, more than 40,000 employees worldwide, and annual operating income of more than 100 billion yuan. It has been listed among the top 500 Chinese enterprises for 20 consecutive years. Its subsidiary Chint Electric is the first A-share listed company in China with low-voltage electrical appliances as its main business, becoming a Top 5 pv inverter manufacturer and ranking among the top 50 listed companies in Asia.
Total market value: 74.841 billion RMB
Company website： www.chint.net