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NEW YORK, March 1, 2021 /PRNewswire/ The crystalline silicon solar PV modules market is expected to grow by USD 46.90 billion during 2021-2025, expanding at a CAGR of almost 19%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
Crystalline Silicon Solar PV Modules Market by Product and Geography - Forecast and Analysis 2021-2025
Synopsis
As Xinjiang was growing in importance to the solar industry, it became the center of international controversy.
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With a tight supply of polysilicon, other companies won’t be able to refuse supplies from Xinjiang.
Chinese solar companies are among 175 around the world that signed a non-binding pledge by a U.S. trade group to avoid forced labor. It will be much harder for them to actually cut ties with Xinjiang, the western China region facing increasing scrutiny for human-rights abuses.
The pledge from the Solar Energy Industries Association, a U.S. trade group, doesn’t specifically mention Xinjiang. That region in Western China plays a dominant role in global solar supply chain, and it s also become the center of widespread accusations that President Xi Jinping’s government is systematically oppressing Muslim Uighurs. An accompanying press release, however, calls on the pledge’s signatories to quit the territory over evidence of forced labor.
Feb 11, 2021
Chinese solar companies are among 175 around the world that signed a nonbinding pledge by a U.S. trade group to avoid forced labor. It will be much harder for them to actually cut ties with Xinjiang, the western China region facing increasing scrutiny for human rights abuses.
The pledge from the Solar Energy Industries Association in the U.S. doesn’t specifically mention Xinjiang. The region in Western China plays a dominant role in the global solar supply chain, and it’s also become the center of widespread accusations that President Xi Jinping’s government is systematically oppressing Muslim Uyghurs. An accompanying press release, however, calls on the pledge’s signatories to quit the territory over evidence of forced labor.
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Technavio has been monitoring the crystalline silicon solar PV modules market and it is poised to grow by $ 46.90 bn during 2021-2025, progressing at a CAGR of almost 19% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio has announced its latest market research report titled Global Crystalline Silicon Solar PV Modules Market 2021-2025 (Graphic: Business Wire)
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the crystalline silicon solar PV modules market. The market growth in 2021 is likely
Provided by Dow Jones By Yifan Wang Hong Kong and China-listed solar-energy stocks rose sharply on Wednesday, extending the sector s momentum as investors bet on strong demand and favorable policies. Hong Kong-listed Flat Glass Group Co., one of the world s largest solar glass makers, jumped as much as 18%, while its peer Xinyi Solar Holdings Ltd. rose up to 9.3%. Both stocks have more than tripled so far this year. In the Chinese market, polysilicon suppliers led the sector s advance. Tongwei Co. shares rose up to 9.4% and LONGi Green Energy Technology Co. added as much as 6.4% to hit a new record. The upbeat trend came after Chinese authorities last week issued a draft regulation that would allow solar glass manufacturers to increase capacity free of restrictions.