IHS sees PV supply chain revenues rising by 24% in H2 2014
Jun 19, 2014 - The global photovoltaic (PV) supply chain revenue is to grow by 24% to USD 28.7 billion (EUR 21bn) in the second half of 2014, as compared to the first six months, thanks to a surge in capacity, IHS Technology (NYSE:IHS) said today.
July-December PV installations are expected to increase in view of projected double-digit growth in China, Japan, the US and the UK which would offset decreases in markets such as Germany, Italy and Greece, IHS PV analyst Jessica Jin said.
In the first half of 2014, the combined revenue from the PV polysilicon, wafer, cell and module segments stood at USD 23.1 billion, IHS calculates. This represents just a 1% rise over the preceding six months.
As per the whole of 2014, IHS projects a 36% year-on-year jump in polysilicon market revenue and a 35% rise in wafers revenue. Cells revenue is seen to increase by 18%, while modules revenue is to go up by 17%. The market analyst said that wafer, cell and module average selling prices (APSs) are to decrease just moderately through the remainder of the year, stabilising in parallel with expanding end markets.
IHS also guided for continuously growing PV demand in the period between 2015 and 2018 with annual growth rates of 10%-15%. The Global PV market is seen to expand to over 70 GW by 2018 from 47 GW in 2014, it added. A new capital spending cycle will start this year in response to the surge in demand.