Analysis of Development Trend of High-voltage Frequency Converter Industry

High-voltage inverters are an integral part of many large automation projects. Since high-voltage inverters are less affected by the economic cycle, they are greatly affected by the relevant national policies. Under the enormous pressure of energy saving and emission reduction in China's “Twelfth Five-year Plan”, the high-voltage frequency converter market has opened up a space for appreciation.

Energy-saving policies give rise to high market demand. During the “12th Five-Year Plan” period, China’s environmental protection investment will reach 3.1 trillion yuan. It is estimated that by 2015, the total output value of China’s energy-saving and environmental protection industries will reach 5.3 trillion yuan, equivalent to 8%-10 of GDP for the same period. %. As the main force and vanguard of energy conservation and emission reduction, high-voltage inverters have huge market demand in the future.

High-voltage inverters are involved in a wide range of fields, including electricity, metallurgy, coal, petrochemical, and other industries, of which the proportion of power, metallurgy, cement and other industries is increasing year by year. In 2011, the oil and gas, mining, cement, and petrochemical industries covered nearly 50% of the entire domestic market for high-voltage inverters, of which the market size of the cement industry reached 1.201 billion yuan, which is the largest market among the four industries, accounting for the market's 16%.

“These industries are mostly high-energy-consuming industries, and the task of energy-saving and emission-reduction needs to be solved. Since high-voltage inverters are less affected by the economic cycle, they are greatly affected by relevant national policies. In China's 'twelfth five-year' energy-saving emission reduction Under pressure, the high-voltage inverter market has opened up space for appreciation,” said a high-frequency transformer manufacturer.

According to reports, high-voltage inverters are currently used in fans, pumps, compressors, rolling mills and other equipment. It not only can improve the process, extend equipment life, improve work efficiency, and most importantly, it can "energy saving ".

Market participants expect that with the continuous development of local brands, the product's failure rate will gradually decrease, the product's cost-effective performance advantage, the expansion of import substitution space, plus the global renewable energy inverter market there is still a wide appreciation of space, China's high-voltage inverter The potential market will remain at 120 billion to 180 billion yuan.

Public data shows that China's high-voltage inverter market is rapidly rising. In 2005, the market size of high-voltage inverters was approximately 1.09 billion yuan, while in 2008 it had reached 3.4 billion yuan, and the compound growth rate was above 40%. According to the “2009 China High Voltage Inverter Market Research Report” forecast, in 2012, the market size of high voltage inverters in China will reach 15 billion yuan, and the market growth rate in the next few years will remain at a relatively high level of over 40%.

According to surveys by relevant agencies, the demand for high-voltage inverters has picked up in 2013. However, in the long-term, the industry growth rate will drop to 10% and 15%. In 2012, it was affected by the domestic economic downturn. The market demand has slowed down, and the scale of new orders has seen a declining year-on-year. In 2013, with the weak economic recovery, the demand for high-voltage frequency conversion gradually recovered, and it is expected that the growth rate of the industry will recover to about 15% of the 10%. In the long run, the penetration rate of the main downstream industries of high-voltage inverters such as cement and electricity is already high. Compared with the past few years, the growth rate of demand in the future will inevitably decline; even if the peak demand for high-voltage inverter maintenance after 2015 is considered, due to With the expansion of the market base and the completion of the transformation market, the growth rate of the industry will also remain stable. The compound growth rate of the industry in the next 35 years is estimated to be around 15%, about 15%. However, for leading companies, due to the large number of high-voltage frequency inverters sold, they will have an advantage in updating maintenance requirements. By then, the growth rate of leading enterprises is expected to exceed the industry.