GlobalData reports top solar panel suppliers of 2016 - SolarStar

JinkoSolar  Holding overtook Trina Solar  in terms of solar PV module shipments in 2016, shipping 6.6 to 6.7 GW modules while Trina followed closely with 6.3 to 6.55 GW, according to research consulting firm GlobalData.

GlobalData estimates that the global solar PV market was valued at $39.7 billion in 2016 that JinkoSolar’s efforts to exp across a large geographically diverse customer base have allowed it to leverage its solar products, br recognition sales network to win several opportunities.

“JinkoSolar has witnessed impressive results over 2016, with the company’s PV modules securing China Quality Certification Center’s Top Runner Program level-one energy efficiency certification that showcases its technological strength,” Ankit Mathur, GlobalData’s Practice Head covering Power, explains.

Canadian Solar came in third place, with shipments of 5.073 to 5.173 GW. The company witnessed low end results in its module shipments revenues in Q3 2016 when compared with Q2 2016, primarily because of the global solar power market dislocation during the quarter, along with logistic disruption that occurred due to Hanjin Shipping’s bankruptcy in the month of August 2016.

Despite this, the company showed positive results with its substantial global project pipeline, strong downstream project development business inventory management, expansion of its module manufacturing capabilities, with the most recent facility situated in Brazil.

JA Solar Holdings Co., Ltd. came in fourth place with 4.9 to 5 GW, Hanwha Q CELLS Co., Ltd. was fifth with 4.8-5 GW, GCL System Integration Technology Co., Ltd. was sixth, with 4.6-5 GW, First Solar stood in seventh place with 2.8-2.9 GW. However, 2016 was a disappointing year for Yingli, which slipped further down the rankings.

“Yingli, which was responsible for a shipment of around 2.1-2.2 GW in 2016, has not benefited from solar power’s growing popularity in the same way as its counterparts,” Mathur continued. “The company’s liquidity issues debt repayments caused it to fall from seventh to eighth position in the global rankings. The company witnessed a drop in net revenues from Q2 2016 to Q3 2016 primarily because its external PV module shipments fell along with the average selling price of its PV modules as a consequence of reduced dem in China in Q3 2016.”