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China Inverter Industry Outlook Report, 2010-2015

Abstract

As the important composing equipment of industrial control system, inverters are installed at the front end of motors to regulate speed and save energy. According to different input voltage, inverters can be divided into low voltage (110V, 220V, 380V, etc.), medium voltage (690V, 1140V, 2300V, etc.), and high voltage (3kV, 3.3kV, 6kV, 6.6kV, 10kV, etc.).

Fueled by the implementation of national energy saving policy as well as the internal demand of energy consumption reduction by the industrial enterprises in recent years, Chinese high-voltage inverter and low & medium-voltage inverters have progressed rapidly with the respective growth rate over 37% and 15%. Up to 2009, the market size of high- voltage, medium-voltage, and low-voltage inverters in China had arrived at RMB3.9 billion, RMB1.6 billion, and RMB10.3 billion, up respectively 2.5 folds, 1.3 folds, and 0.6 fold against 2005.

During the 12th Five-Year Plan period, China will highlight ' manufacturing equipment upgrading' and ' industrial energy saving & environment protection' and adhere to the road of ' equal emphasis on speed control and energy saving' , which will continuously pull the development of Chinese inverter industry. Promisingly, in 2015, the market size of high-voltage inverters in China will rise to RMB18 billion, and that of low and medium-voltage inverters will hit RMB30.1 billion, hereinto, medium-voltage ones enjoy RMB5.1 billion while low- voltage ones hold RMB25 billion.

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High-voltage inverters fall into general type and high performance type. At present, domestic enterprises occupy more than 80% market share in general high-voltage inverter field, yet the high performance high-voltage inverter market is still dominated by such foreign enterprises as Siemens and ABB. In 2010, the capacity of general high-voltage inverter in China was sufficiently released, the product price dropped dramatically, and the enterprise profitability slid; it is anticipated that the market competition of general inverter will be relieved to some extent in 2011 along with the increasing reconstruction demand in downstream market. Meanwhile, the domestic enterprises led by Hiconics Drive Technology Co., Ltd. (Hiconics) and Rongxin Power Electronic Co., Ltd. have tapped into the field of high performance products, but it is possible for the industry to copy the import substitution process of general inverter owing to the high technical threshold of high performance inverter.

Different from high-voltage inverter, the low and medium- voltage inverter market has been invariably monopolized by foreign brands with the market share approximating 75%, including Japanese and European & American brands like Siemens, ABB, YASKAWA, Schneider Electric, and Fuji Electric. The most representative domestic brands cover Shenzhen INVT Electric Co., Ltd. (INVT), Shenzhen Inovance Technology Co., Ltd. (Inovance), Eura Drives Electric Co., Ltd. (Eura Drives), and Hope Senlan Science & Technology Corp., Ltd. (SLANVERT), with the total market share of 6.2% in 2009. INVT, an absolute leader in China' s low and medium-voltage inverter market, has involved itself in the field of high-voltage inverter since 2008, successfully went public in 2010, and in the same year started the R&D and the sales of inverters for elevator, explosion proof, and rail transit. Inovance, with competitive advantages in elevator inverter market, stepped into the integrated motor and servo system business in 2010 by virtue of its excellent cost performance. In 2010, Eura Drives also initiated the expansion of inverter related products, setting foot in such product areas as servo, PLC, and soft starter as well as widening the coverage of product lines.

Apart from the emphasis on inverter market size, supply & demand, and competition pattern, this report probes into the key applications and development trend of high-voltage inverters and low & medium-voltage inverters, together with 19 key enterprises like Beijing Leader & Harvest Electric Technologies Co., Ltd., Hiconics, INVT, and Inovance.

Table of Contents

1. Inverter Profile in China

  • 1.1 Definition & Classification
  • 1.2 Characteristics
  • 1.3 Upstream & Downstream
    • 1.3.1 Upstream Industry
    • 1.3.2 Downstream Industry

2. Development Environment

  • 2.1 Industry Environment
  • 2.2 Policy Environment
    • 2.2.1 Industrial Management System
    • 2.2.2 Laws & Regulations and Policies
  • 2.3 Technical Environment

3. Chinese Inverter Industry Overview

  • 3.1 High-voltage Inverter Industry Overview
    • 3.1.1 Market Size
    • 3.1.2 Supply & Demand
    • 3.1.3 Market Price
    • 3.1.4 Competition Pattern
  • 3.2 Low & Medium-voltage Inverter Industry Overview
    • 3.2.1 Market Size
    • 3.2.2 Supply & Demand
    • 3.2.3 Competition Pattern

4. Inverter Applications

  • 4.1 High-voltage Inverter
    • 4.1.1 Overview
    • 4.1.2 Potential Demand
  • 4.2 Low & Medium-voltage Inverter
  • 4.3 Home Appliance Industry
    • 4.3.1 Inverter Air Conditioner
    • 4.3.2 Inverter Washing Machine
    • 4.3.3 Inverter Refrigerator
  • 4.4 Machinery Industry
    • 4.4.1 Inverters for Hoisting Machinery
    • 4.4.2 Inverters for Elevator
    • 4.4.3 Inverters for Machine Tool
    • 4.4.4 Inverters for Rail Transit

5. Key Enterprises

  • 5.1 Beijing Leader & Harvest Electric Technologies Co., Ltd.
    • 5.1.1 Profile
    • 5.1.2 Operation
    • 5.1.3 R&D
  • 5.2 Hiconics Drive Technology Co., Ltd. (Hiconics)
    • 5.2.1 Profile
    • 5.2.2 Operation
    • 5.2.3 Development Strategy
    • 5.2.4 R&D
  • 5.3 Dongfang Hitachi (Chengdu) Electric Control Equipments Co., Ltd.
    • 5.3.1 Profile
    • 5.3.2 Operation
    • 5.3.3 Development Strategy
  • 5.4 Guangzhou Zhiguang Electric Power SharesHolding Cooperation Ltd.
    • 5.4.1 Profile
    • 5.4.2 Operation
  • 5.5 Harbin Jiuzhou Electrical Co., Ltd. (JiuzhouElectric)
  • 5.6 Rongxin Power Electronic Co., Ltd.
  • 5.7 Siemens China
  • 5.8 ABB (China)
  • 5.9 Rockwell Automation (China)
  • 5.10 Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
  • 5.11 Shenzhen INVT Electric Co., Ltd. (INVT)
  • 5.12 Shenzhen Inovance Technology Co., Ltd.
  • 5.13 Eura Drives Electric Co., Ltd. (Eura Drives)
  • 5.14 Hope Senlan Science & Technology Corp., Ltd. (SLANVERT)
  • 5.15 Shanghai STEP Electric Corporation
  • 5.16 YASKAWA Electric (Shanghai) Co., Ltd.
  • 5.17 Fuji Electric China
  • 5.18 Schneider Electric China
  • 5.19 Delta Electronics, Inc.

6. Influencing Factors

  • 6.1 Favorable Factors
  • 6.2 Unfavorable Factors
  • 6.3 China Inverter Industry Development Trend, 2011-2015
    • 6.3.1 High-voltage Inverter
    • 6.3.2 Low & Medium-voltage Inverter

Selected Charts

  • Comparison among Three Motor Energy Saving Modes
  • Proportion of Newly-added Inverter-driven Motor in China, 2006-2009
  • Market Size of Inverter in China, 2006-2015E
  • Comparison among Three Controlling Modes of Inverters
  • Technical Roadmap Comparison of Major High-voltage Inverter Manufacturers
  • Market Size of High-voltage Inverter in China, 2005-2015E
  • Capacity of Major Domestic High-voltage Inverter Enterprises in China, 2009-2010
  • Sales Volume of High-voltage Inverter in China, 2008-2015E
  • China High-voltage Inverter Market Distribution (by Voltage Grade), 2009
  • China High-voltage Inverter Market Distribution (by Load), 2009
  • China High-voltage Inverter Cost Structure
  • Market Demand of IGBT for High-voltage Inverter in China, 2006-2011
  • Average Price of IGBT, 2006-2009
  • Price Trend of High-voltage Inverter in China, 2000-2009
  • Average Price Comparison of High-voltage Inverter by Major Manufacturers, 2008-2009
  • Competition Pattern of High-voltage Inverter Enterprises in China, 2009
  • Market Size of Low & Medium-voltage Inverter in China, 2005-2015E
  • Cost Structure of Low & Medium-voltage Inverter in China
  • Market Size of IGBT for Low & Medium-voltage Inverter in China, 2006-2011
  • Superior Fields Comparison of Low & Medium-voltage Inverter Manufacturers in China
  • Low & Medium-voltage Inverter Distribution in China by Production Area
  • Market Distribution of Low & Medium-voltage Inverter in China (by Load), 2009
  • Top 5 Low & Medium-voltage Inverter Brands in China by Sales, 2008
  • Brand Pattern of Low & Medium-voltage Inverter in China, 2009
  • Classification of Domestic Low & Medium-voltage Inverter Enterprises in China
  • Low & Medium-voltage Inverter Sales of 4 Enterprises in the First Echelon, 2008-2009
  • Distribution Channels and Proportion of Low & Medium-voltage Inverter in China
  • Applications and Proportion of High-voltage Inverter in China, 2008
  • Thermal Power Installation Capacity in China, 2008-2015E
  • Cement Output in China, 2008-2015E
  • Applications and Proportion of Low & Medium-voltage Inverter in China, 2008
  • Proportion of Inverter Air Conditioner in Chinese Retail Market, 2008-2010
  • Inverter Air Conditioner Market Share of Top 3 Air Conditioner Suppliers in China, 2008-2010
  • Market Performance of Inverter Washing Machine in China (by Volume Section), Jan.-Sep. 2010
  • Major Inverter Washing Machine Brands and Their Market Shares in China, 2010Q1-Q3
  • Market Size of Inverters for Hoisting Machinery in China, 2009-2015E
  • Demand and Market Size of Inverters for Elevator in China, 2005-2015E
  • Market Size of Inverters for Machine Tool in China, 2009-2015E
  • Market Size of Inverters for Rail Transit in China, 2009-2015E
  • High-voltage Inverter Sales Volume of Beijing Leader & Harvest Electric Technologies Co., Ltd., 2005-2010
  • Revenue and Total Profit of Beijing Leader & Harvest Electric Technologies Co., Ltd., 2006-2009
  • Revenue Structure of Beijing Leader & Harvest Electric Technologies Co., Ltd. (by Sector), 2007-2009
  • Operating Income and Net Income of Hiconics, 2007-2010
  • Hiconics Revenue from General High-voltage Inverter and High-performance High-voltage Inverter, 2007-2010
  • New Order Quantity and Value of Hiconics, 2008-2010
  • Inverter Capacity Expansion Plan of Hiconics (by Product), 2011-2014
  • Core Technology of Hiconics
  • Revenue and Total Profit of Dongfang Hitachi (Chengdu) Electric Control Equipments Co., Ltd., 2006-2008
  • Operating Income and Net Income of Guangzhou Zhiguang Electric Power Shares Holding Cooperation Ltd., 2007-2010
  • Operating Income and Proportion from High-voltage Inverter of Guangzhou Zhiguang Electric Power Shares Holding Cooperation Ltd., 2008-2010
  • Operating Income and Net Income of Jiuzhou Electric, 2007-2010
  • Revenue of Jiuzhou Electric (by Sector), 2007-2010
  • Projects with Raised Funds of Jiuzhou Electric, 2010
  • Operating Income and Net Income of Rongxin Power Electronic Co., Ltd., 2007-2010
  • Revenue Proportion of Rongxin Power Electronic Co., Ltd. (by Sector), 2006-2009
  • Major Economic Indices of SEDL, 2004-2008
  • Major Economic Indices of SEDS, 2004-2008
  • Revenue and Total Profit of ABB Beijing Drive Systems Co., Ltd., 2004-2008
  • High-voltage Inverters of TMEIC
  • INVT Inverter Series and Applications
  • Operating Income and Net Income of INVT, 2006-2010
  • INVT Inverter Revenue (by Product), 2006-2010
  • INVT Revenue and YoY Growth (by Region), 2010
  • Major Products and Applications of Shenzhen Inovance Technology Co., Ltd.
  • Operating Income Structure of Shenzhen Inovance Technology Co., Ltd. (by Product), 2007-2010
  • Core Technology of Shenzhen Inovance Technology Co., Ltd.
  • Operating Income and Total Profit of Eura Drives, 2004-2008
  • Operating Income and Total Profit of SLANVERT, 2004-2008
  • Revenue Structure of Shanghai STEP Electric Corporation (by Product), 2007-2010
  • Inverter Sales Volume of Shanghai STEP Electric Corporation (by Product), 2007-2010
  • Low & Medium-voltage Inverters of YASKAWA Electric
  • Inverter Manufacturing and Distribution Enterprises of Fuji Electric in China
  • Inverter Products of Schneider Electric
  • Operating Income and Total Profit of Schneider (Suzhou) Drives Co., Ltd., 2004-2008
  • Operating Income and Total Profit of Delta GreenTech (China) Co., Ltd., 2004-2008
  • Shares of Domestic Brands in China' s Low & Medium-voltage Inverter Market, 2005-2010
  • Shares of Domestic Brands in China' s High-voltage Inverter Market, 2004-2010
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