Annual Manufacturer Capacity, Production, SHipments, Price & Revenue  now available

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The Photovoltaic Manufacturer Shipments: Capacity, Price and Revenues report provides an analysis of quantitative shipment, capacity, and module price data for the supply side of the terrestrial photovoltaic industry. This report has been published annually since 1975. It focusses on the most recent two years of supply side activity also forecasting the next five years of crystalline and thin film shipments.

The manufacturer shipment section updates long-term country shipment history, crystalline and thin film shipments and market shares, cumulative manufacturing histories, and manufacturing capacities useful in management analysis of the industry. The subject of industry price behavior is covered in a separate chapter. The report also includes a chapter with analysis on the leading manufacturers in terms of shipments for 2016 and 2017.

Manufacturers covered in this report produce technology as cells, cells to modules, and thin film panels. Module assemblers that buy cells from technology manufacturers and assemble into modules are considered demand side participants and though shipments for this group are not analyzed in this report, the chapter on price will include a discussion about the pricing and buying behavior of this population. At the end of 2017 a cumulative 376.6-GWp of PV cells/modules had been shipped into the global market for photovoltaic deployment into all applications from consumer indoor (calculators and watches), to consumer power (battery charging primarily) as well as to residential and all commercial installations through to multi-gigawatt (utility scale). Not all of the shipped gigawatts are still producing electricity.  In fact, it is highly unlikely that the MWs shipped prior to 1987 (117-MWp, an infinitesimal fragment of the 2017 cumulative total) remain functional. 

Contents

1.      Introduction. 8

1.1         Purpose and Scope. 8

Table 1.1 Overview of Photovoltaic Manufacturer Coverage (1) (2) 9

1.2         Methodology. 11

2.      Executive Summary. 12

2.1         Industry Overview and Analysis. 13

Figure 2.1: PV Industry Growth 1977 through 2017. 14

Figure 2.2: PV Industry ASPs, Average Costs and Shipments 2007-2017. 17

2.2         Cell/Module Manufacturer Shipments. 18

Figure 2.3: PV Industry Metrics 2017. 19

Figure 2.4: PV Manufacturers shipping >3% of Total in 2017. 20

Table 2.1: Country Shipments 2012 to 2017(1) 21

2.2.1          Manufacturer Shipments by Country. 22

Table 2.2: Country Manufacturer Shipments* 2002-2017. 22

Figure 2.5: 2017 Global Supply & Global Demand. 24

2.2.2          Shipments by Technology. 25

Figure 2.6: Technology Market Share % 2014, 2015, 2016 and 2017. 25

Figure 2.7: N-Type Monocrystalline Shipments 2016 and 2017. 26

2.3         Revenues. 27

Figure 2.8: PV Cell/Module Revenues and ASPs, 2007-2017. 27

2.4         Average Selling Price (ASP) 28

Table 2.3 PV Industry Cell/Module Revenues, Shipments & ASPs 2007-2017. 28

2.5         Manufacturing Capacity. 30

Table 2.4 Multi and Monocrystalline Capacity Growth by Country, 2016 and 2017. 32

2.6         Overview of Global Module Assembly Capacity  33

Figure 2.9: Shipments, Capacity & Utilization, all Manufacturers, 2007-2017. 34

Figure 2.10: Global Module Assembly Capacity, 2017. 35

2.7         Top Ten Manufacturers 2017. 36

Figure 2.11: Top Ten Photovoltaic Manufacturers 2017. 36

3.      Production, Shipments, Inventory & Revenues, 2016/2017: 37

Figure 3.1: Manufacturer Capacity, Production, Shipments & Inventory, 2012-2017. 38

Table 3.1: 2017 Supply Metrics, Module Assembly Capacity, c-Si Cell/Thin Film.. 39

Capacity, Shipments, Announced Shipments * 39

Table 3.2: 2017 Select Manufacturer Announced Shipments & Actual Shipments1) 40

Figure 3.2: PV Industry Metrics 2017. 41

Figure 3.3: Capacity, Production, Shipments and Inventory for China, Taiwan, 43

South Korea & Japan, 2017 through 2017. 43

3.1         Shipments by Region & Manufacturer 44

Figure 3.4: 2017 Global Supply & Global Demand. 44

Table 3.3: Country Shipments 2012-2017(1) (2) 45

Table 3.4: Manufacturer Shipment Shares by Region, 2002-2017 1, 2. 49

Table 3.5: Country Manufacturer Shipments* 2002-2017. 50

Figure 3.5: Supply/Demand Data for Europe, the US, China & Japan, 2012-2017. 51

Table 3.6: Summary of Country Positions at the Beginning of 2018. 52

Table 3.6: Summary of Country Positions at the Beginning of 2018, Continued. 53

Table 3.6: Summary of Country Positions at the Beginning of 2018, Continued. 54

Table 3.6: Summary of Country Positions at the Beginning of 2018, Continued. 55

Figure 3.6: 2017 Manufacturer Market Shares by Region. 56

Table 3.7: 2016/2017:  Manufacturer Shipments US, Europe, Japan & India1) (2) (3) 58

Table 3.8: 2016/2017: Manufacturer Shipments Taiwan, China & South Korea (1) (2) (3) 59

Table 3.9: 2016/2017: Manufacturer Shipments South East Asia: Singapore, the. 60

Philippines, Vietnam, Malaysia & Thailand1) (2) (3) (4) 60

Figure 3.7: PV Manufacturers shipping >3% of Total in 2017. 61

3.2         Shipments by Technology. 62

Figure 3.8: Technology Market Share % 2014, 2015, 2016 and 2017. 62

Figure 3.9: Average Commercial Crystalline Module Efficiency 2007-2017. 63

Figure 3.10: N-Type Monocrystalline Shipments 2017. 64

Table 3.10: Technology Market Share % & Growth Rate %* 2007-2017 (MWp) 65

Table 3.11 2017 Shipments US, Europe, Japan and India (MWp) 67

Table 3.12: 2017 Technology Shipments Taiwan, China & South Korea (MWp) (1) 68

Table 3.13: 2017 Technology Shipments Singapore, the Philippines, Vietnam, Malaysia & Thailand (MWp) (1) 69

Table 3.14: U.S., Europe, Japan, Taiwan, China & Malaysia Contribution to. 70

Technology Shipments* 2016/2017. 70

Table 3.15: South Korea, Singapore, Philippines, India, Vietnam & Thailand Contribution to Technology Shipments* 2016/2017. 71

Figure 3.11: Country/Region Technology % Contribution 2017. 72

Figure 3.12: Technology % Contribution 1987-2017. 73

Table 3.16: Shipments by Technology Category, 2007-2017 (MWp)* 74

3.3         Global Cell and Module Revenues 2016-2017: 75

Figure 3.13: PV Cell/Module Revenues & ASPs, 2007-2017. 75

Figure 3.14: PV Cell/Module Revenues & Shipments, 2007-2017. 76

Figure 3.15: PV Cell & Module Revenues by Country 2016/2017: 76

Figure 3.16: PV Cell & Module Revenues by Country 2016/2017: 77

Figure 3.17: The US and Europe Cell & Module Revenues 2012-2017. 78

Figure 3.18: China and Taiwan Cell & Module Revenues 2012-2017. 78

Figure 3.19: Japan and South Korea Cell & Module Revenues 2012-2017. 78

Figure 3.20: Malaysia & Rest of the World Cell & Module Revenues 2012-2017. 79

Figure 3.21: Malaysia, Thailand & Vietnam Cell & Module Revenues 2012-2017. 79

Figure 3.22: Cell & Module Revenues 2002-2017. 80

3.4         Market Outlook, 2017-2022. 81

Table 3.17: Five-Year Technology Forecast to 2022 (MWp)* 82

Figure 3.23: Conservative & Accelerated & Low Revenue Forecast to 2022. 83

Figure 3.24: Conservative & Accelerated Revenues & Shipments, 2018 Estimate. 83

4.      Selling Price and Cost 84

4.1         Trends in Average Module Pricing. 84

Table 4.1: PV Industry Cell/Module Revenues, Shipments & ASPs 2007-2017. 88

Figure 4.1: Photovoltaic Industry Prices, Costs and Shipments. 91

in 2017 Constant Dollars, 1977-2017. 91

Figure 4.2: Photovoltaic Constant (Inflation adjusted) & Current Prices 1997-2017. 92

Table 4.2: Module Pricing Trends 1992-2017 (Current and Constant $/Wp)* 94

Table 4.3: Country & Total Shipments and ASPs* 2002-2017 (Current Dollars) 95

4.2         Thin Film Pricing. 96

Figure 4.3: Thin Film & All Module ASPs 2012-2017, Current Dollars $. 98

4.3         Photovoltaic Cost and Price Relationship. 99

Figure 4.4: PV Costs &Shipments 1977-1987 Current & Constant 2017$. 101

Figure 4.5: PV Costs &Shipments 1987-1997 Current & Constant 2017 $. 101

Figure 4.6: PV Costs &Shipments 1997-2007 Current & Constant 2017 $. 102

Figure 4.7: PV Costs &Shipments 2007-2017 Current & Constant 2017 $. 102

4.4         Future Pricing Trends. 103

Figure 4.8: Price History & Forecast All Categories, 1997-2027, 2017 Constant $. 106

Table 4.4: Price Forecast by Buying Category, 2017 to 2022, 2017 Constant $. 106

5.      Manufacturing Capacity, Utilization & Module Assembly 2016-2017. 107

Table 5.1: Average Global Capacity Utilization 1977-2017* 107

Table 5.2: Global Capacity Production, Shipments & Inventory, 2007-2017* 110

5.1         Cell/Module Capacity and Utilization, All Manufacturers. 111

Table 5.3: Multicrystalline & Monocrystalline Capacity by Country, 2016 & 2017. 114

Figure 5.1: Country Photovoltaic Manufacturing Capacity, 2007-2017. 115

Figure 5.2: Country Photovoltaic Manufacturing Capacity, 2007-2017. 116

Figure 5.3: Shipments, Capacity & Utilization, all Manufacturers, 2007-2017. 117

Table 5.4: PV Industry Capacity, Shipments and Utilization, 2007-2017 MWp* 118

Table 5.5: Country Annual Capacity/Shipment Growth 2012-2017 (MWp)* 119

Figure 5.4: Country Capacity Shares, 2016, 2017. 121

Figure 5.5: Expected PV Cell Capacity Growth, 2017-2022. 122

Figure 5.6: Multi and Mono Crystalline Capacity Growth, 2017-2022. 122

Figure 5.7: Thin Film Capacity Growth, 2017-2022. 123

5.2         Manufacturing Capacity by Technology. 124

Figure 5.8: Crystalline Capacity & Shipments, All Countries 2017. 124

Table 5.6: Crystalline Manufacturing Capacity & Shipments, 2016-2017, MWp. 125

Figure 5.9: Amorphous Silicon Capacity & Shipments, 2017 MWp. 126

Table 5.7: Amorphous Silicon Capacity/Shipments* 2016-2017, MWp. 127

Figure 5.10: CdTe Technology Capacity & Shipments 2017. 128

Table 5.8 CdTe Capacity & Shipments 2016-2017, MWp* 128

Figure 5.11: CIGS/CIS Capacity & Shipments 2017. 129

Table 5.9: CIGS/CIS Capacity & Shipments*2016-2017, MWp. 129

Table 5.10: Crystalline & Thin Film Capacity & Shipments* 2016-2017 (MWp) 130

5.3         Overview of Global Module Assembly Capacity  131

Table 5.11: Module Assembly & c-Si Cell Manufacturing Trends. 131

Figure 5.12: Global Module Assembly Capacity, 2017. 132

Table 5.12: 2017 Country Module Assembly, Crystalline Cell /Thin Film Panel Capacity. 133

6.      Top Ten Manufacturers 2017. 134

6.1 Top Ten PV Technology Manufacturers 2017. 134

Table 6.1: Top Ten Manufacturers, 2001 to 2005* 134

Table 6.2: Top Ten Manufacturers, 2012 to 2017* 135

Figure 6.1: Top Ten Photovoltaic Manufacturers 2017. 135

Table 6.3: 2017 Top Ten Manufacturers: Technology, Location, Cell & Module Capacity. 136

Figure 6.2: Top Ten Manufacturer Cell & Module Revenue Shares 2017. 137