Classification: According to the working voltage, can be divided into low-voltage and high-voltage inverter. According to the input voltage level is classified, less than 3KV is classified as low-voltage inverter (less than 690V is low-voltage inverter), higher than 3KV is classified as high-voltage inverter; The applicable objects of the two are different, but the speed regulation principle is the same. The medium and low voltage frequency converter has relatively low capacity requirements for power electronic devices and transformers, and has a mature and consistent topology, while the high voltage frequency converter has more topology and is more complex.

5SHY35L4512-3BHE014105R0001-5SXE08-0166 Application: The downstream industry of high voltage inverter is more concentrated, and the downstream industry of medium and low voltage inverter is more dispersed. From the downstream application point of view, the application field of high voltage inverter is concentrated in the field of high energy consumption, mainly used in metallurgy, electric power, petrochemical, mining and other high energy consumption industries, which can realize the soft start, intelligent control and speed regulation energy saving of all kinds of high voltage motor fans, pumps, air compressors, elevators, belt machines and other loads, and the total CR5 proportion is 76% in 2021. The application scenario of medium and low voltage frequency converter is relatively broad, the downstream is more dispersed, and it is generally used in lifting machinery, elevators, textile machinery and other fields, and the total proportion of CR5 in 2021 is 43%.

Market size: The size of the inverter market continues to increase, and the medium and low voltage inverter occupies the dominant position. China’s frequency converter market continues to expand, Zhiyan Zhan industry Research Institute data show that China’s total market size of frequency converter industry in 2022 is 67.32 billion yuan, as the scale of domestic industrial production continues to expand, the total scale of the industry is expected to continue to grow, 2029 will reach 123.75 billion yuan. According to the statistics of Huajing Industrial Research Institute, the market size of China’s low-voltage inverter accounts for about 75% of the total market size. With the upgrading of China’s manufacturing industry, it is expected that the proportion of high-voltage inverter market size will increase in the future.

5SHY35L4512-3BHE014105R0001-5SXE08-0166 Competition pattern: China’s inverter market was dominated by foreign capital in the early stage, and domestic manufacturers continued to break through. In the latest annual report of Huichuan Technology in 2023, according to Rui industry statistics, in 2023, Huichuan technology’s low-voltage inverter in the Chinese market share of about 17.0%, ranked second, the first domestic brand, medium and high-voltage inverter in the Chinese market share of about 15.9%, ranked first, but other market share of relatively high enterprises are foreign enterprises. According to the report of Huajing Industrial Research Institute, in addition to Huichuan Technology, Inwitten, Delta and other domestic manufacturers in the low-voltage inverter market share of more than 5%, but the current domestic manufacturers in the high-voltage inverter market competitiveness is insufficient, the market share is relatively low.