On April 23, Huatai Securities reported that in March 2025, China’s inverter exports amounted to 4.54 billion yuan, a month on month increase of 39.5%, mainly due to improved seasonal factors and accelerated construction of overseas large and industrial storage facilities. Among them, the amount of inverters exported to Europe reached 1.773 billion yuan, a month on month increase of 63.7%. Huatai Securities believes that the combination of interest rate cuts, the arrival of peak season, and the increase in storage capacity is expected to further promote the release of demand in Europe. In addition, Southeast Asia, South America and other regions are vigorously developing solar energy storage, and the demand is showing a strong trend. In the long run, the core drivers of demand in various regions are still power outages, rising electricity prices, and high growth in wind and solar installations. The demand for inverters is gradually shifting from point to emerging markets. With the further cost reduction of solar energy storage, the ceiling of the solar energy storage market is expected to rise, and we are optimistic about the sustainability of inverter demand.
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