1、 In 2021, the global photovoltaic industry will enter a high-speed growth period of affordable development. China photovoltaic Association predicts that during the 14th Five Year Plan period, the global photovoltaic annual growth is expected to reach 287gw (CAGR 16%), and the domestic annual installed capacity is expected to reach 90gw (CAGR 22%), realizing leapfrog development.
2、 In 2019, China’s inverter output accounts for more than 80% of the global market, and its export volume accounts for more than 45% of the global market. However, the top six Chinese enterprises only account for 30% of the global revenue. The reason is that most domestic inverters are concentrated in the low price domestic market and overseas ground power station market, mainly covering the track with the lowest unit price and profitability. Facing the high value-added blue ocean market such as overseas industrial and commercial distribution and household use, Chinese enterprises still have great development potential.
3、 By comparing the financial data of the current overseas household and industrial and commercial distributed products companies, it can be found that there is no significant difference in manufacturing cost and gross profit rate between Chinese and foreign enterprises, and the future competition will mainly focus on R & D technology, channel construction and cost control ability.
4、 Looking forward to the price trend and demand of global inverter industry in the next five years, we predict that the new installed capacity of global photovoltaic will increase from 122gw in 2020 to 346gw (cagr13%) in 2025, and accordingly the market scale of photovoltaic inverter will increase from 45.8 billion yuan to 109.6 billion yuan.
5、 We predict that in five years’ time, the total share of the top five Chinese enterprises (sunshine, jinlang technology, goodway, Shangneng electric, etc.) in terms of shipment amount in industries other than Huawei will increase from 15% in 2019 to 30%, from 8.8 billion yuan to 32.4 billion yuan, with an average annual compound growth rate of 21%.
Editor in charge ajx