The photovoltaic module equipment market is expected to reach US$3.8 billion in the next three years.The photovoltaic industry is booming, and the photovoltaic equipment industry continues to expand. In 2020, the photovoltaic module industry has shown great enthusiasm for expansion. In 2019, the sales revenue of the global photovoltaic equipment industry increased by approximately US$5 billion.
Significant increase in component shipments
The increase in the scale of photovoltaic installations has greatly boosted the market's demand for photovoltaic modules. From 2016 to 2020, module shipments continue to increase, and the increase in shipments provides positive incentives for module manufacturers to expand their production capacity.
Component manufacturers actively expand production
In 2020, the photovoltaic module industry has shown extremely high enthusiasm for expansion. According to incomplete statistics, the expansion plan announced by photovoltaic module manufacturers in 2020 is as high as 312GW.
The component equipment market may be booming, and the component equipment market is expected to reach US$3.8 billion in the next three years.
As an important component of photovoltaic equipment, module equipment will continue to expand in market scale. The market size is now estimated, and the estimation assumptions are as follows:
(1) New global photovoltaic installed capacity: Select CPIA's forecast of 280GW of global photovoltaic new installed capacity per year. The data for 2020 are CPIA's forecast in February 2020, excluding the impact of the short-term sudden impact of the epidemic .
(2) Adjustment factor: Terminal power stations have diversified needs for modules, and the products provided by module suppliers are difficult to match. At the same time, considering products in transit and products to be installed, module capacity demand will continue to be higher than the global new installed capacity of photovoltaics. Therefore, take the average of the gap between 2011 and 2019 of 1.9 as the adjustment coefficient for the calculation.
(3) Inventory replacement rate: Generally speaking, the replacement cycle of component equipment is about 4 years. However, in recent years, due to the rapid penetration of new module technologies such as large size, multiple bus grids and half-cells in the industry, traditional production lines are difficult to be compatible with new processes. Therefore, under the background of a new wave of technological upgrades, module manufacturers have begun to Upgrade and transformation of the component production line. Considering that the rapid penetration of new component technologies is just in 2020, and the next two years are expected to become a key time node for the rapid implementation of new technologies, so we use 2019 as the base year for stock replacement, and start stock replacement in 2020, assuming 20 In -23 years, the stock capacity will be upgraded at an increment of 15%/35%/35%/15 every year.
According to calculations, it is estimated that the market size of component equipment in 2021, 2022, and 2023 will reach US$1.2 billion, US$1.4 billion and US$1.2 billion, respectively. The total market size of component equipment in the next three years will reach US$3.8 billion. Have broad prospects for development.