The global PV market is expected to continue witnessing strong demand in the second half of 2015, according to new analysis by EnergyTrend.
Specifically, EnergyTrend — a division of TrendForce — expects that, with India as the fastest growing PV market, replacing the UK as one of the top three export markets for Chinese-made solar PV modules, China’s PV export industry can expect similarly strong demand from both within-country, and internationally, in Japan, the US, and India.
“Going into the second half of 2015, the global PV market will continue to witness strong demand driven by China, the U.S., Japan and India,” said Corrine Lin, analyst for EnergyTrend. Furthermore, these four markets — which made up over 6 GW of the total 12 GW that China’s solar PV industry exported in the first six months of 2015 — will ensure that global capacity for module and cell manufacturers is fully loaded through the rest of the year, in both the first and second tier of manufacturers.
EnergyTrend points out, however, that future manufacturing capacity expansion will take place outside of China and Taiwan, due to the currently ongoing trade disputes. Furthermore, any such expansion is likely to be developed in proximity to emerging markets, which will make up a lions’ share of future solar PV development, which EnergyTrend believes “will once again disrupt the supply-demand equilibrium that has been gradually formed in the recent period.”
Probably the most obvious sign of this trend is the current rush to set up production capacity inside of India to take advantage of the phenomenal wealth of opportunity that is being created by the central government’s plans to develop increasingly large shares of solar PV capacity over the next decade.
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