Yingli Green and Trina Solar extended their share of the global PV module market to 15% in the fourth quarter of 2013, according to the latest report from analysts NPD Solarbuzz.
This represents an increase of 3% from the second quarter of 2012, when Yingli and Trina held a market share of 12%. During 2013 the two Chinese companies shipped more than 5.8GW of PV modules. Calculated from trailing-twelve-month shipment volumes, this represented an increase of 62% in 18 months from the second quarter of 2012, when the two companies combined had shipped 2.4GW.
Both Yingli and Trina broke the 800MW barrier in the last quarter of 2013, with Yingli shipping over 900MW. According to Solarbuzz the two firms are on course to compete for the chance to be the first PV module supplier to ship over 1GW in a single quarter.
Solarbuzz analyst Ray Lian said: “Yingli and Trina embarked on an aggressive shipment strategy over the past eighteen months. With the global PV manufacturing segment focused on reducing costs and controlling expenses, there was a clear window of opportunity for market share gains. These two companies have capitalised on this opening with meticulous precision, and they are now poised to become the first multi-gigawatt module suppliers driving the next phase of strong end-market growth.”
The latest Solarbuzz Module Tracker Quarterly claims that in Q4 2013, 7.6GW of modules were shipped by the top 20 leading suppliers. According to Solarbuzz this is the first time the top 20 have broken the 7GW mark in a single quarter, with 11 of the top 20 setting new quarterly shipment records. The top 20 also saw shipment volumes grow month-on-month and year-on-year, with those 20 companies supplying 68% of the PV industry worldwide.
Average Selling Price (ASP) of the top 20 remained flat, at US$0.72 per Watt as module prices remained stable for three quarters, according to Solarbuzz. Since the final quarter of 2012, ASPs have fallen only 3%, which Solarbuzz points out is in contrast to the previous 12-month period, when ASPs fell by 35%. ASPs are between US$0.60 per Watt and US$0.70 per Watt for 11 of the top 20. High performance and premium brand suppliers are thought to be achieving higher ASPs.
During Q4 2013, Jinko Solar became the first major supplier to get blended costs below US$0.50 per Watt, with over half of the top 20 achieving blended costs below US$0.60 per Watt. Average gross margins of the top 20 module suppliers therefore increased to 15% in the fourth quarter of 2013, an increase of 10% over the six months between then and Q2 2013 and a significant jump from the 1% experienced in the third quarter of 2012.
Speaking recently at the World Economic Forum held in Davos, Switzerland, Jifan Gao, chairman of Trina Solar said that in his view consolidation of the PV industry would continue, with mergers and acquisitions likely to fuel the next stage of the industry’s development.
“I see a 20 to 25% annual increase in installations across the industry, and Trina will certainly beat the average. Our revenue and profits should also grow, in line with such market expansion,” Gao said.
Solarbuzz analyst and vice-president Finlay Colville recently previewed the year in PV with a Q&A blog for PV Tech.