逆变器出口：出口环比小幅回调，大洋洲市场创新高

Core Insights - In July 2025, China's inverter export amount was 6.505 billion yuan, showing a month-on-month decrease of 1.08% but a year-on-year increase of 16.02%, indicating a slight month-on-month adjustment while maintaining high year-on-year growth [2][3] - From January to July 2025, the cumulative inverter export amount reached 36.971 billion yuan, reflecting a year-on-year growth of 8.63%, demonstrating stable market performance [2][3] Regional Performance - Asia: In July 2025, inverter exports to Asia amounted to 2.054 billion yuan, with a month-on-month decrease of 22.84% and a year-on-year increase of 1.69%. The Middle East performed well, while demand from India and Pakistan declined [4] - Europe: Exports to Europe totaled 2.831 billion yuan in July 2025, with a month-on-month increase of 15.70% and a year-on-year increase of 28.13%, indicating stable performance [4][5] - North America: Exports to North America reached 235 million yuan, with a month-on-month increase of 6.27% and a year-on-year increase of 31.93%, showing a positive trend as tariff impacts stabilize [6] - Oceania: Exports to Oceania hit a record high of 397 million yuan, with a month-on-month increase of 60.89% and a year-on-year increase of 188.80%, indicating strong growth [6] Export Performance by Province - In July 2025, Guangdong's inverter exports were 2.441 billion yuan, showing a month-on-month increase of 0.93% and a year-on-year increase of 10.38%, while Jiangsu's exports decreased slightly due to high base effects from June [7] Investment Outlook - Long-term growth in global renewable energy installations and increasing demand for energy storage are expected to drive market expansion. Key regions include: - Europe, where large-scale storage installations are expected to accelerate [8] - The U.S., where demand for large storage projects is significant and tariff impacts are diminishing [8] - Emerging markets in Asia, Africa, and South America, which present substantial growth opportunities [8] - The Middle East, where renewable energy investments are increasing [8]