(i) Development of the global cell industry
By the end of 2023, the total global cell capacity reached 1,032GW, exceeding the TW mark; the total global cell production reached 643.6GW. It is worth mentioning that n-type cells performed well in 2023.
In 2023, the world's top ten enterprises in the cell segment are all Chinese enterprises, and the new production capacity in 2023 is mainly concentrated in the field of TOPCon cell technology. Under the current globalized industrial distribution framework, Asia is still the main production and manufacturing base of PV cells in the world by virtue of its cost advantage. In addition to China, other Asian countries' cell production capacity is mainly distributed in Malaysia, Vietnam, Thailand and India.
(ii) Development of China's cell industry
In 2023, the total battery cell capacity in China's mainland region realized significant growth, reaching 929.9 GW. In terms of capacity distribution, the combined capacity of the top ten companies was 628.9 GW, accounting for 67.6% of the country's total capacity. In 2023, China's mainland production of cells will be about 591.3GW. TOPCon capacity expansion has accelerated, becoming the mainstream of new capacity, multi-master grid technology continues to help reduce cell costs, and the degree of automation continues to improve.
(iii) Development trend of cell industry
Photovoltaic cells, as the core technology link of the photovoltaic industry, dominate the technological progress of the entire industry. With the continuous evolution of technology, companies have sought new ways to reduce costs. In 2023, large-size products have become the mainstream of the market, and rectangular wafer production capacity may be released one after another. Looking ahead, in 2024, mainstream manufacturers will continue to focus on cost reduction and efficiency of rectangular wafers, and further enhance market competitiveness by improving module power. With the continuous reduction of TOPCon cell production equipment costs and the continuous improvement of production efficiency, it is expected that by 2024, the market share of TOPCon cells and PERC cells will change significantly.
Source：https://mp.weixin.qq.com/s/vyaQcTe3eijoup5Ry0UFyQ
