The inverter overseas market is still hot! From January to February 2023, the cumulative export volume reached 9.0066 million units, an increase of 46% year-on-year.

Recently, the General Administration of Customs released the import and export data of inverters from January to February 2023. According to the customs data:

Import and export situation in January: The import volume of inverters in January 2023 was 170,300 units, a year-on-year decrease of 27.8% and a month-on-month decrease of 37.7%; the export volume in January was 5.6232 million units, a year-on-year increase of 39.3% and a month-on-month decrease of 2.1%.

Import and export situation in February: The import volume of inverters in February 2023 was 270,300 units, a year-on-year decrease of 1% and a month-on-month increase of 58.7%; the export volume in February was 3.3834 million units, a year-on-year increase of 60.2% and a month-on-month decrease of 39.8%.

The cumulative imports in January-February 2023 were 440,600 units, a decrease of 68,500 units compared with the same period in 2022, a year-on-year decrease of 13.46%; the cumulative exports in January-February were 9.0066 million units, an increase of 2.8568 million units compared with the same period in 2022, a year-on-year increase of 46.45%.

By province, in January-February 2023, Guangdong exported a total of 3.4823 million units, a year-on-year increase of 44.6%. Major companies include Huawei, Growatt, Sofar New Energy, KSTAR, and Hopewind; Zhejiang exported a total of 3.4842 million units, a year-on-year increase of 48%. Major companies include Jinlong, Deye, Homa, APEC, and Aero; Jiangsu exported a total of 444,400 units, a year-on-year increase of 14.4%. Major companies include GoodWe, Sineng Electric, and AISWEI; Anhui exported a total of 180,100 units, a year-on-year increase of 234.3%. Major companies include Sungrow Power Supply's domestic base and GoodWe Guangde Factory.

From the perspective of export countries, inverters were exported to 187 countries and regions in January-February 2023, of which 3.5384 million units were exported to Europe, accounting for 39.3%. The top ten export countries had an export volume of 5.017 million units, accounting for 55.7%. The top five countries were the Netherlands, the United States, Germany, Malaysia and Brazil.

As one of the main markets in Europe, the Netherlands still maintains its position in the top three in terms of export trade volume. From January to February, the Netherlands' export trade volume was 1.9633 million, an increase of 341.9% year-on-year. The US export trade volume was 782,000, an increase of 18.4% year-on-year. Although the US photovoltaic industry has been affected by labor shortages and supply chains, and the installation speed is not fast, project developers are still willing to build projects.

It is worth noting that Germany's installed capacity exceeded expectations at the beginning of the year. In January, the newly installed photovoltaic capacity was 780MW, close to the highest level of monthly installation in 2022. On the other hand, Germany's export trade volume was also 419,500 units, an increase of 184.7% year-on-year.

The first quarter of previous years is traditionally a low season for demand, but this year all countries have maintained a higher level of enthusiasm than in previous periods. Inverter manufacturers have also set doubling global shipments as their annual goal. Demand in Europe and the United States is expected to continue to be strong and maintain a high growth rate. Exports are expected to continue to increase year-on-year in March.