China Report Hall network news, with the improvement of industrial automation and intelligence, the frequency converter market is expected to further expand. At present, some emerging domestic inverter enterprises are also gradually rising, through technological innovation and marketing and other means, and continue to expand their market share. The following is an analysis of the statistical data of the inverter industry in 2023.

The global frequency converter market reached about $4.45 billion in 2019, and the 2023-2028 China frequency converter industry market thematic research and market prospect forecast evaluation report is expected to reach about $6.35 billion by 2027. China’s medium voltage inverter industry market concentration is relatively high, at present, China’s medium voltage inverter industry CR3 is 36.79%, CR5 is 41.44%, CR7 is 42.6%.

2023 frequency converter industry statistical data analysis: China’s medium voltage frequency converter industry CR3 is 36.79%

Inverter industry is a dynamic industry, the market demand is growing, technological innovation is constantly advancing, the competition is becoming more and more fierce. Only by constantly improving their own technical level and market competitiveness, in order to obtain more opportunities and development space in this industry. Now from the three major market data to analyze the 2023 inverter industry statistics.

First, the global inverter industry market size

According to market research institutions, the global inverter market size reached about $7 billion in 2019 and is expected to reach $10 billion by 2025. Among them, the Asia Pacific region is the largest inverter market, accounting for more than 40% of the global market share. This is mainly due to the high level of industrialization in the Asia-Pacific region, which has a large demand for high-efficiency and energy-saving equipment.

Second, the development of the domestic inverter market

China is one of the world’s largest producers and consumers of frequency converters. According to the China Electrical Appliances Industry Association, the size of China’s inverter market in 2019 was about 37 billion yuan, an increase of about 8.3% year-on-year. Among them, the low-voltage inverter occupies the main market share. In the next few years, China’s inverter market will continue to maintain rapid growth, is expected to reach 60 billion yuan by 2025.

Third, China inverter industry trade

China is in a surplus position in the global inverter trade. In 2020-2021, the global epidemic is raging, and China is the first to resume production in the world after rapidly stabilizing the domestic epidemic prevention and control, so the trade export of China’s inverter industry in 2020-2021 not only did not decline, but also rose against the trend, and the trade surplus of China’s inverter industry in 2021 reached 6.846 billion US dollars, an increase of 44.58%. It shows that China’s international competitiveness in the field of inverter industry has been further enhanced. As an important part of the inverter, medium voltage inverter products have the characteristics of both high voltage inverter and low voltage inverter products, and the international competitiveness of the industry is increased with the overall frequency converter industry.

To sum up, the inverter industry is a booming industry, the global market continues to expand, the domestic market is growing rapidly, and the application field is also expanding. Inverter industry has broad market prospects and application fields, but also faces fierce market competition. Enterprises need to continue to innovate, improve product quality and service level, in order to be invincible in the market.