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At present, the market share of domestic inverter industry is mainly concentrated in foreign brands, the concentration of domestic brands is low, the regional distribution is mainly concentrated in Guangdong Province, and the customers of enterprises are mainly concentrated in East China and South China. Huichuan technology and inveterate are the leading domestic brands, and their concentration has increased year by year in recent years.

From the development plan of each company, the inverter with more technical advantages will be more competitive. At the same time, the demand potential of inverter in emerging industries such as intelligent manufacturing, network energy and other fields needs to be tapped.

The main listed companies of Inverter Industry: Hekang Xinneng (300048), inveterate (002334), Huichuan Technology (300124), xinfenghuang (688663), Zhiguang electric (002169), Lanhai Huateng (300484), Hewang electric (603063), xinshida (002527), power source (600405), Weichuang electric (688698), sine electric (688395).

1. Competition echelon of inverter industry in China

The application of frequency converter covers many industries of national economy, and plays an important role in power, public engineering, textile and chemical fiber, building materials, petroleum, chemical industry, food and beverage, tobacco, coal, mechanical processing and other industries. The major listed companies in China's inverter industry include Hekang Xinneng (300048), yingweiteng (002334), Huichuan Technology (300124), xinfenghuang (688663), Zhiguang electric (002169), Lanhai Huateng (300484), Hewang electric (603063), xinshida (002527), powersource (600405), Weichuang electric (688698), sine electric (688395).

According to the revenue of each enterprise in inverter related products, it can be divided into three competitive echelons. Among them, Huichuan technology, inveterate, Hewang electric and Zhiguang electric have more than 1 billion yuan in inverter and related business revenue; Hekang Xinneng and Weichuang electric have a revenue of 400-1 billion yuan from inverter and its related business, of which the revenue of Hekang Xinneng is close to 1 billion yuan; The related revenue of other enterprises is less than 400 million yuan.

From the perspective of enterprise distribution, six of the 11 major enterprises are located in Guangdong Province, three in Beijing, followed by one in Shandong Province and one in Shanghai. It can be found that the inverter industry in Guangdong Province is leading in China, and there are many outstanding listed companies concentrated in the province.

2. Market share of inverter industry in China

At present, the main players in the domestic inverter industry are foreign brands, and the market share of domestic brands is relatively small. According to the historical data, the market scale of China's Inverter Industry in 2020 is estimated to be about 52 billion yuan. According to this scale, among the companies with separate inverter business, the market share of Huichuan technology is about 6.74%, followed by inveterate and xinfengjing, accounting for 2.46% and 1.21% respectively.

3. Market concentration of inverter industry in China

In terms of business revenue, Huichuan technology and inveterate ranked in the forefront of the market share. In 2019, the market scale of China's inverter industry will be about 49.5 billion yuan. In the same year, the revenue of Huichuan technology's inverter products will be 2.972 billion yuan, and that of inveterate will be 1.314 billion yuan, accounting for 8.6% of the total market scale. In 2020, the proportion will be 9.14%. It can be found that the concentration of China's inverter industry is concentrating to the top enterprises.

4. Enterprise layout and competitiveness evaluation of inverter industry in China

In terms of the proportion of inverter business, the inverter business of Hekang Xinneng, yingweiteng, Zhiguang electric, Hewang electric, Weichuang electric and sine electric are relatively concentrated. In 2020, the revenue of inverter business accounts for more than 50% of the company's total revenue, among which sine Electric has reached 100%.

From the regional distribution of revenue, in addition to xinfenghuang and Zhiguang electric, other enterprises have layout overseas; In the domestic market, it is mainly concentrated in East China and South China.

From the perspective of inverter application field and technical strength of enterprises, most enterprises mainly focus on one or two of low voltage, medium voltage or high voltage, and their application fields also have different emphases, which are mainly used in the field of industrial automation.

According to the latest development plan of the enterprises, most of the enterprises, when planning the future development direction of their own inverter products, not only respond to the general direction of the national "fourteenth five year plan", but also carry out business expansion in subdivided fields in combination with their own strengths and characteristics, For example, xinfenghuang Electronic Technology Co., Ltd. points out that its high-voltage inverter products have great potential in agriculture, forestry, biomass power generation and garbage power generation industries. At the same time, it can be noted that inverter industry enterprises pay more attention to innovation and R & D, which is the key for enterprises to achieve differentiated competition.

5. Summary of competition status of inverter industry in China

From the five forces competition model, the development of inverter in China is mainly limited by the price level of upstream raw materials, and the threat of existing competitors in the industry comes from foreign brands; The homogenization of the whole industry is serious, so the bargaining power of consumers is relatively strong; In terms of potential entrants, the technical barriers of inverter industry itself are high, and the threat of entrants is small; At the same time, inverter as a necessity of industrial development, there is no substitute to threaten it.

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