L R AS Published on Sunday 24 September 2023 - n° 458 - Categories:Europe, inverters/micro-inverters
The value of inverter exports to Europe should increase by 48% in 2023, compared with 2022.
The value of inverter exports to Europe is set to increase by 48% in 2023, compared with 2022.
Europe plays a central role in shaping the profitability landscape for inverter companies. Between January and July, Chinese inverter exports totalled
47.8 billion, of which RMB 29.5 billion was destined for European markets. This represents a significant 62% of the total value of Chinese inverter exports. Clearly, the dynamics of demand in Europe exert a significant influence on the performance of Chinese inverter exports. Since the sale of inverters on the European market tends to generate increased profitability, the fortunes of domestic inverter companies are closely linked to the ebb and flow of European demand.
The value of exports to Europe in July totalled RMB 3.2 billion, down 3% year-on-year and a substantial 18% drop on the previous month. Why the downturn?
- The persistent problem of stocks in Europe has yet to find a substantial solution, requiring more time to consume stocks.
- The summer holiday period in Europe, which runs from July to September,
- The Russian-Ukrainian conflict in 2022 triggered an energy crisis that led to an increase in European demand for UPS in the second half of this year. For example, in the third quarter of 2022, demand for inverters totalled RMB10.9 billion, a staggering 195% increase on the demand recorded in the first quarter of the same year. This contrasts sharply with 2021, when demand in the third quarter was only 51% higher than in the first quarter.
The energy crisis eased in 2023.
The annual export volume of European inverters will reach RMB 50.5 billion in 2023, representing a year-on-year increase of 48%. In comparison, 2022 saw an export value of RMB 34 billion.
https://www.energytrend.com/news/20230829-37197.html
EnergyTrend of 29 August 2023
