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In recent years, the overall market of low-voltage inverter has declined, the performance of various manufacturers varies greatly, and Chinese local enterprises have maintained rapid growth. The "2024 China Electrical Appliance Industry Series White Paper" provides an in-depth interpretation and analysis of the competitive pattern and changes of China's low-voltage inverter market.

China low-voltage inverter market share

The evolution of the competitive landscape - European American brands, Chinese local brands, Sino-foreign joint ventures, Japanese brands :

In 2023, Japanese brands were seriously affected by the epidemic, and their share declined rapidly; Chinese domestic brands quickly replace traditional industries and seize emerging markets; European and American enterprise project market led the growth, the impact is small.

Since 2018, due to the impact of Sino-US trade on China's manufacturing exports, domestic brands have gradually risen, and the supply chain and delivery rate of foreign brands have been affected in the three years of the epidemic, and domestic brands have gradually shown superiority and expanded market share.
In 2023, European and American brands accounted for 47% of low-voltage inverters, the Japanese share was 9%, Chinese local brands accounted for about 43%, and joint venture brands were close to 2%. Compared with 2022, the share of domestic brands has been rapidly improved. European and American enterprises are affected by domestic substitution, the market share has shrunk to a certain extent, and the Japanese market share has continued to decline. The joint venture brand is mainly represented by Delixi, which will invest more energy in the industrial automation field in the future after the acquisition of Edrive Electric, and its market share is expected to expand.

Competition pattern of low-voltage inverter in China

The overall market declined, the performance of various manufacturers varied greatly, and local enterprises maintained rapid  growth：

In the past two years, the rise of local brands, quickly occupy the market, Huichuan performance is far ahead; In 2023, ABB has a good development in the EU industry, and Inovance has a good performance in new energy, lifting, metallurgy, chemical and other industries, ranking second.

· The first echelon is more than 4 billion level enterprises, including foreign brand ABB and domestic brand Inovance Technology. These two companies in the low-voltage inverter market, and other companies have opened a large gap.

· The second tier is 2 to 4 billion enterprises, mainly including the foreign brand Siemens.

· The third tier is 1 to 2 billion level, mainly including European and American brands Schneider and Danfoss, Japanese brand Yaskawa, and domestic brand INVT.

· The fourth echelon is 5-10 million, mainly including Japanese brands Mitsubishi, domestic brands Delta, ZONCN.

· The fifth tier is less than 500 million, mainly including European and American brands Rockwell, Japanese brand Fuji Electric, and domestic brands SLANVERT, EURA Drives, SINEE, etc., joint venture brand Delixi (including easy drive Electric)