Solar PV Module Market – Global Analysis to 2020

Asia-Pacific solar module manufactures contributed approximately 92.48% of the total global modules produced in 2015. China continues to be the largest manufacturer of solar modules in the world with 68.5% followed by Malaysia, Korea, and Japan, with 6.4%, 5.5%, and 5.4%, respectively.

Globally, Asia-Pacific region has the maximum share of installed capacity, of approximately 65.1% in 2015, with China’s installed capacity approximately 30.4% in 2015.

Being a manufacturing hub, China has maintained its leading position in the market for the seventh consecutive year. It has domestically-available polysilicon, a favorable regulatory environment, and an easily available and inexpensive labor force; that helped companies such as Trina Solar, Canadian Solar, JA Solar, JinkoSolar, Hanwha, and Yingli Solar, to maintain their leading positions in the c-Si module market.

Until 2012, Europe contributed major part of solar installation. In 2011, Italy was the leading consumer of solar modules, with annual installations of 9.3 GW. However, in 2012, its market dropped by 3.9% and was overtaken by Germany, with annual installations of 7.6 GW.

However, China’s strong governmental support, favorable conditions for manufacturing industries, domestic availability of polysilicon, and inexpensive labor force helped it overtake the European countries to become the largest consumer of modules in 2013.

While the annual additions grew moderately in the US and Japan, they fell sharply in Italy and Germany. Italy went from the largest solar PV installer base in 2011 to the fifth-largest in 2013. Similarly, Germany positioned as fourth-largest in 2013.

Europe’s annual installation dropped due to FiT reductions and is expected to fall further during the forecast period.

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