The prospect of the global inverter market is expected

As a general component of the industrial control drive layer, the frequency converter has maintained a growth trend in recent years.

According to the survey statistics of research institutions, the global inverter market size reached 7 billion US dollars in 2019, and it is expected to reach 10 billion US dollars by 2025, the global market size will continue to expand, and the Chinese market is growing rapidly, and the application field is also expanding. With the continuous introduction of relevant support policies by the Chinese government in recent years, the rapid development of China’s local industrial automation control industry, domestic brands through independent innovation, with cost advantages, localization advantages and other factors to achieve the rise, and continue to narrow the gap between international brands.

IC694MDL758 In the low-voltage inverter market, although ABB, Siemens, Yaskawa, Mitsubishi, Fuji and other foreign brands still occupy 57.7% of the market share in 2022, domestic brands represented by Huicawa technology are also particularly prominent, occupying 14.9% of the market space, and there is a broad space for localization replacement.

In 2022, China’s low-voltage inverter industry enterprise competition pattern

In the medium and high voltage frequency converter market, from 2020 to 2022, the year-on-year growth rate of China’s medium and high voltage frequency converter market reached 10%, 17% and 8%, and the compound annual growth rate reached 13%, showing strong growth momentum.

IC694MDL758 China’s medium and high voltage inverter market size (million yuan)

In the future, under the promotion of national policies, domestic inverter enterprises will accelerate technology research and development and market expansion, and gradually realize the localization of foreign brands. At the same time, with the in-depth advancement of industry 4.0 and intelligent manufacturing, inverter as a key equipment for motor control, its demand will continue to grow, especially in new energy, electric vehicles, wind power, solar energy and other fields, the global inverter industry will usher in a broader space for development.