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Vietnam has become China's largest solar panel system components market

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Published by Mars November 09,2019

     In the first quarter of 2019, due to the rapid decline in the price of domestic solar panel system components in China, the demand in overseas emerging markets was strong. China's solar panel system components products were exported to 186 countries and regions, and solar panel system components exports increased by 31.89% year-on-year to US$4.39 billion. Exports increased by 77.63% year-on-year to 16.78GW.

 

solar power system supplier

 

    From the perspective of the export region, Chinese solar panel system components are exported to Asia, Europe, Africa, Oceania, North America and South America. Among them, the export value of Asia reached 2.029 billion US dollars, accounting for more than 45% of the total amount, an increase of 4.93%. The number of exports to Asia was 7.59GW, a significant increase of 38.63%.

 

     From the perspective of export markets, the top five markets for component exports in China are Vietnam, the Netherlands, India, Japan and Australia. Among them, Vietnam replaced India as the largest export market for solar power system kit exports in China. The export value of solar power system kit to Vietnam was 729 million US dollars, accounting for 16.8% of total exports. The export value increased by 23904.4% year-on-year. The number of solar power system kit exported to India was 1.81GW, a sharp drop of 24.4% year-on-year, and exports to the United States decreased by 28.9%. For the EU, such as the Netherlands, Mexico, Spain, Ukraine and Pakistan, exports from Latin America and the Middle East increased significantly year-on-year.

 

 

solar power system supplier

 

    China's solar power system supplier exports to the US as long as 0.01GW, a year-on-year decrease of 28.9%. In recent years, affected by the US double-reverse, "201" and "301" trade protection policies, China's solar power inverter kit exports to the United States have gradually decreased. Affected by the Indian manufacturing policy, India's urban location is the largest market for Chinese solar power inverter kit exports. The Indian manufacturing policy requires that photovoltaic modules be 100% locally manufactured for grid-connected solar power inverter kit projects developed by the government and centrally shared utilities. Affected by the cancellation of the double-counter policy by the European Union, the number of solar power inverter kit exported from China to the EU increased significantly in the first quarter.

 

     Therefore, due to the influence of various trade protection measures in the United States, the door to the export of Chinese solar system packages products to the United States has been closed. After the EU market resumes free trade, solar system packages exports to the market will grow rapidly. Emerging markets such as Mexico, Australia, Turkey, and the United Arab Emirates will drive China's solar system packages products exports.

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