Yingli remains the world's largest solar PV module maker

13 September 2013

Supported by increasing shipments in to the domestic Chinese market, Yingli Green Energy (Baoding, China) increased its share of the global market for solar photovoltaic (PV) modules to 8.1% in the first half of 2013, according to a new analysis by IHS Inc. (Englewood, Colorado, U.S.).

The company shipped 1,450 MW of PV modules in the first six months of 2013, a 30% increase over the same period in 2012, to maintain its position as the world's largest supplier of solar PV modules. Trina Solar has moved to second place with 1.04 GW of shipments, replacing First Solar which had the third-largest shipments at 900 MW.

“Yingli in the first half of 2013 benefited from strong growth in demand in China,” said IHS Solar Analyst Jessica Jin. “China already accounts for almost one-third of the company’s business, and its importance will increase further in the second half and beyond.”

Japanese, Chinese PV makers grow rapidly

The shift in PV module supplier rankings represents a shift in global PV demand to Asia, and IHS notes that companies with a strong presence in China and Japan have increased their sales the most in the first half of 2013, including large Japanese PV producers.

Sharp, the world's fourth-largest PV module maker, saw its market share go from 2.7% of the global total to 4.5% in the first half of 2013, and Kyocera saw its market share increase from 2.1% to 3.6%. Solar Frontier also saw a 68% year-over-year increase in revenue.

Additionally, JinkoSolar has nearly doubled its market share from 1.9% to 3.7% in the first half of 2013, to come in sixth place. However, the fastest growing company was ReneSola, which more than tripled its shipments in the first six months of 2013 to 570 MW. IHS notes that ReneSola has sold out its entire 2013 production and is taking orders for 2014.

U.S.-based companies have not fared as well. The market share of First Solar slipped from 5.7% to 5.0%, and while SunPower's merchant shipments grew 14%, this was slower than 17% overall growth in the PV module business.

Module makers returning to profitability

Overall, IHS estimates 8.5 GW of PV installations in the second quarter of 2013, bringing the industry to 15.6 GW installed in the first half of 2013.

The company notes that module revenues also increased to USD 7.2 billion, with improved profitability. JinkoSolar has returned to a profit, and the company expects other manufacturers to do the same by the end of 2013.

IHS predicts that the production, shipment and revenue levels in the second quarter will be maintained for the rest of 2013. However it predicts flat market growth in the third quarter, and only a slight increase in the fourth quarter.