Forecast and analysis of the current situation and development prospect of China's photovoltaic stent market in 2022

Driven by the "double carbon" goal and energy transformation, the photovoltaic industry is developing vigorously. 

As the core components of photovoltaic power generation system, photovoltaic scaffold belongs to the new energy industry among the seven strategic emerging industries that the country has accelerated the cultivation and development of. 

At the same time, the PV bracket industry has a low threshold, and now a number of enterprises have entered the bureau.

The market situation

1. Market size

    In 2018, China's PV bracket market size reached a high of 14.16 billion yuan, and then began to decline. 

The main reason is that the overall unit price of the photovoltaic bracket industry has decreased, which has a certain impact on the overall revenue of the industry.

In 2020, the market size of China's photovoltaic stent industry dropped to 11.55 billion yuan. In 2021, growth resumed to about 17.5 billion yuan, a year-on-year growth rate of about 51.91%. 

With the continuous increase of photovoltaic installation in China, it is expected that the market size of photovoltaic stent will continue to increase steadily in the future, and the market size will reach 19 billion yuan in 2022.

2. The permeability

    Tracking stent penetration in the domestic market slipped to 16% in 2019 as the number of front-runner projects decreased. 

With the improvement of market acceptance of tracking stents, the penetration rate of tracking stents in China began to rise again, and the penetration rate rose to 18.7% in 2020. 

In 2021, it further increased to 21.56%, with a year-on-year growth of about 2.86%. Driven by market demand, the market penetration rate of domestic PV bracket is gradually in a state of recovery. 

Penetration is expected to reach 23% by 2022.

Prospects for development

1. Policies are good for the development of the industry

    In recent years, China's PV bracket industry has received high attention from governments at all levels and key support from national industrial policies. The state has introduced a number of policies to encourage the development and innovation of the PV bracket industry. "Smart Photovoltaic Industry Innovation and Development Action Plan (2021-2025)" proposes that by 2025, the intelligent level of the photovoltaic industry will be significantly improved, breakthroughs will be made in industrial technological innovation, industrial conversion efficiency of new high-efficiency solar cells will be significantly improved, and complete supporting capabilities such as silicon materials, silicon wafers, equipment, materials and devices will be formed. A number of policies continue to promote the development of building photovoltaic demonstration projects, driving the continuous growth of the demand for photovoltaic supports.

2. The "double carbon" strategy supports the development of the industry

    In recent years, the scale of newly installed photovoltaic capacity in the world continues to increase. Under the guidance of "double carbon" strategy, the construction of new energy projects has been accelerated. With the improvement of photovoltaic technology, the cost of photovoltaic power generation continues to decrease, and the future photovoltaic power generation has a broad growth space. As one of the key equipment of photovoltaic power plants, photovoltaic support will grow with the growth of newly installed capacity of photovoltaic power plants worldwide.

3. The rising penetration rate drives the development of the industry

As the reliability of tracking supports improves, the cost decreases, and the trend of photovoltaic parity online forces power plant investors to pay more attention to power generation efficiency, the demand for tracking supports is increasing rapidly in emerging PV markets, especially in Asia Pacific, the Middle East, Australia and Africa. In the future, China is expected to develop in the direction of the Americas, and the tracking stent penetration rate is expected to break through 40%. Influenced by the growing penetration rate, the industry has good prospects.

Data source: collated by China Commerce Industry Research Institute