China's PV module export market has shifted from traditional markets such as the US and India to emerging markets.

The door to China's PV products exports to the US has been closed, and the export volume of components in the first quarter is only 0.01GW. China's PV module export market has shifted from traditional markets such as the US and India to emerging markets.

According to the latest analysis of China's PV products import and export in the first quarter of 2019 (hereinafter referred to as the "Report"), the first quarter of this year, due to the rapid decline in the price of domestic PV modules, the demand for overseas emerging markets is strong, China Component products were exported to 186 countries and regions, and component exports increased by 31.89% year-on-year to US$4.39 billion. Exports increased by 77.63% year-on-year to 16.78GW.

In the first quarter, the top five markets for PV module exports in China were Vietnam, the Netherlands, India, Japan and Australia.

Among them, Vietnam replaced India as the largest export market for component exports in China, and its exports to Vietnam increased significantly by 239 times to 739 million US dollars, accounting for 16.8% of total exports.

In the first quarter, China's PV module exports to the US was only 0.01GW, a year-on-year decrease of 28.9%. In recent years, due to the US double-reverse, "201" and "301" trade protection policies, China's exports to the United States have gradually decreased.

In 2017, after the United States launched the "201" safeguard measures, the number of components exported from China to the United States plummeted 71.2% to 0.82GW; in 2018, the United States launched the "301" survey, in the case of multiple measures of tariff superposition, China's component exports The United States dropped 92.6% to 0.06GW.

Affected by the “Made in India” policy, India lost its position as the largest market for Chinese component exports. In the first quarter, China exported 1.81 GW of components, down 24.4% year-on-year. The “Made in India” policy requires that PV modules be 100% locally manufactured for grid-connected PV projects developed by the government and central public utilities.

Affected by the cancellation of the double-counter policy by the European Union, the number of components exported from China to the EU increased significantly in the first quarter.

In 2013-2017, affected by EU double-reaction measures, the number of PV modules exported to China was reduced from 5.39GW to 1.16GW.

In September 2018, the EU resumed free trade. From September to December of that year, China exported 2.34 GW of EU components, nearly twice the number of exports in the first eight months.

In the first quarter, China's exports to Japan increased slightly by 8.2%, and the number of the Netherlands and Spain increased by 1049.6% and 158.3% respectively. The exports to Mexico, Ukraine and Pakistan also increased significantly year-on-year.

According to the report, due to the influence of various trade protection measures in the United States, the door to China's exports of photovoltaic products to the United States has been closed; after the EU market resumes free trade, exports to the market will grow rapidly; emerging markets Mexico, Australia, Turkey, The UAE and others will drive the export of Chinese PV products.

At the same time, the global PV market is further diversified. The top five markets for component exports accounted for 52% of total exports, down 10% from 2013.

From the perspective of export enterprises, in the first quarter of this year, the top five enterprises in China's PV module exports were Jinko Energy, JA Solar (3.330, -0.07, -2.06%), Trina Solar, Artes and Longji ( 23.920, -0.28, -1.16%), accounting for 12.8%, 8.6%, 8.3%, 7.4% and 6.7%, respectively. The top 12 enterprises accounted for more than 65% of total exports.

The Report expects that China's PV module production capacity will continue to expand by 8.5% to approximately 93GW this year, and the global PV market will grow by approximately 10%. In addition to supplying domestic demand, China's nearly 50 GW components will be exported to overseas markets, while export prices will continue to fall.