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As China is the world's largest photovoltaic market, in the silicon, silicon wafers, batteries and modules production accounted for the global market share of 8 to 9%, showing that the global photovoltaic development in addition to national policies and domestic market factors are closely related to China's photovoltaic market trends have a close correlation. As of June this year, China's installed capacity of PV has reached 78.42 GW, compared to the same period last year, a growth of about 154%, but this year, China's market due to the upstream oversupply caused by the price drop, should help to stimulate the market demand, but by China's land compliance review and the end of the wait-and-see prices continue to fall in the mood, resulting in a short-term decline in demand, judging that the inventory problem is still difficult to solve and the price may be further price reductions. InfoLink estimates that the annual demand for solar modules in China will reach 170 GW in 2023, and if the above problems are alleviated in the short term, the annual module demand is expected to double to 190 GW compared to last year.
European accelerated layout of photovoltaic industry originally optimistic about the performance of the European market this year, coupled with the first quarter should be the traditional off-season for the European PV, but appeared better than expected performance, statistics from January to June this year, the European market from China's imports of components has accumulated 62.4 GW, but the second quarter of the annual growth force compared to the first quarter has been slowing down the phenomenon of judgment of this year's three-quarter total exports of PV modules from China to Europe may be maintained at the level of the first quarter! Or there is a slight growth. Due to the optimistic atmosphere that prevailed in the European market last year, coupled with the recent downturn in European electricity prices, resulting in excess inventory on the hands of distributors, the market generally believes that the installed capacity of PV in Europe this year will be around 60-70 GW, and if we take into account the stock and inventory, InfoLink conservatively believes that the demand for modules is expected to come to 92 GW, and optimistically it is estimated that it will be up to 114 GW.
Looking at the global PV market in 2023, although falling supply chain prices will help boost demand, attention must still be paid to the inventory problem caused by last year's massive market pull. In addition, the overall supply chain may face phased overcapacity in the short term, but the trend of global renewable energy transformation has been set. InfoLink conservatively estimates that the total demand of the global PV market this year can grow by 38% to 390 GW, and if the problems of inventory in overseas markets, China's land compliance review, and on-grid consumption can be alleviated, the global demand is expected to reach 455 GW. The long-term demand of the PV industry is still expected to grow in the future. is still expected to grow.
Source: Polaris solar photovoltaic network
