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Chinese Solar PV Module Manufacturers Dominate the Global Solar PV Module Market.

Global photovoltaics market is forecast to exhibit a CAGR of over 15% during 2016 -2022, due to various reasons such as their eco-friendly attributes, minimum maintenance, and cost saving. China dominate the solar PV module manufacturing market. One of the major reasons for the huge popularity of Chinese PV modules all over the world is their low cost, which are generally 10-20% less than PV modules manufactured in other countries. Moreover, the prices of Chinese modules are further declining, and has declined by about 30% since January 2016. Lower price of Chinese PV modules enables solar power developers to generate extra profit margins, consequently help in lowering the power tariff for end use.       

                                                                                 Leading Chinese Solar PV Module Suppliers by Country

                                                                                   

                                                                                                                                      Source: SEIA

Chinese solar module suppliers dominate the global top 20 supply group, and the number of solar modules shipped by them last quarter was the highest quarterly level ever reached. In fact, Chinese suppliers made up 71% of all PV module shipments from the top 20 suppliers, with leading Chinese module suppliers Trina Solar, Canadian Solar, Jinko Solar, JA Solar etc.

Best Solar PV Module Suppliers, by Country in 2016

                                 

Supplier Name

Country

Trina Solar

China

Yingli Solar

China

Canadian Solar

China

Hanwha Solar One

China

Jinko Solar

China

JA Solar

China

Sharp

China

Rene Solar

Japan

First Solar

USA

NeoSolar

Taiwan

                                                                  Source : SEIA

During the financial crisis in 2014-16 period, China strengthened its grip on the export markets. It also contributed to the global glut in the supply of solar PV modules, which led to further decline prices. In 2nd half of 2017, global prices of Solar module are expected to be on declining trend due oversupply conditions.

Although solar PV installations in China are likely to witness high growth, the thrust on solar manufacturing will most likely remain export oriented. Thus, the strong support to domestic solar manufacturing sector coupled with fortuitous global developments for the industry have enabled Chinese firms to dominate the global market.


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