While PV inverter exports from China in February declined 41% sequentially, Zhixin Consulting believes Chinese manufacturers could expect shrinking demand from their overseas customers as several countries now fight the COVID-19 pandemic. (Photo Credit: Sungrow)
- Zhixin Consulting has stated in its latest report on China manufactured solar PV inverter exports that the country sold 2.4 GW products in February 2020
- The total value of these shipments was $85 million, as annual growth was registered as 64%
- Sungrow led the export shipments, followed by Huawei and finally Growatt . as per the research
During February 2020, Chinese solar PV inverter exports amounted to a total export value of $85 million with 2.4 GW shipped. According to research of Zhixin Consulting as reported by the North Star Photovoltaic Network News, on sequential basis, this is a drop of 41%, however, over last year, exports still grew 64%. Exports counted in the research include products manufactured in Chinese fabs and exported.
The leader in this period was Sungrow that shipped more than 1 GW of inverters with a total capacity of 46.71 MW to the domestic market, 480 MW to India, and overseas shipments of 943.71 MW.
Following Sungrow was Huawei with monthly shipments in February 2020 reaching 548.23 MW and on 3rd spot was Growatt with 325 MW shipped.
The highest demand came for medium-sized devices that accounted for a 63.98% share of total export shipments, 17.81% of small-sized inverters, while micro-inverters represented 4.88%.
Zhixin Consulting attributes the coronavirus pandemic impact as the reason behind this sequential slump in export shipments of Chinese made PV inverters since factories were shut as a preventive measure. Even as China recovers from the economic and physical impacts of the virus, it is now the demand centers in west that are starting to suffer heavily from the virus, which is expected to shrink demand.
‘Regarding yearly export data, the growth rate in the first quarter is low. With the orderly resumption of work and production in various places, and policies to support the export of mechanical and electrical products are gradually being put in place, the long-term trend of the industry is still worth looking forward to,’ the Zhixin Consulting analysts were quoted in North Star Photovoltaic Network News.