HJT Cell and Equipment Industry Poised for Profitability in 2023; 2024 Set to be the Year of Industrialization
Short-term Outlook:
Mass production of silver-coated copper, bifacial microcrystalline, and 0BB technology has led to reduced investments in GW equipment. HJT holds great potential for cost reduction in both polysilicon (thinner film) and non-silicon (silver-coated copper and low indium product) expenses. In the second half of the year, several PV giants are expected to achieve significant breakthroughs in the field of HJT.
Medium and Long-term Prospects:
The HJT cell shows excellent compatibility with perovskite and copper plating, making it a promising combination for industrialization development in the medium and long term.
Market Insights:
HJT equipment and core modules are on track for substantial growth. The domestic usage of products made in China is benefiting core modules companies, while paste is expected to see rapid production increase.
HJT Equipment:
By 2025, the market share for HJT equipment is projected to reach 60.2 billion yuan, with a CAGR of 74% from 2022 to 2025. The industry chain has decision-making power, and companies stand to benefit as the market is still in its early stages.
HJT Core Modules:
The market share for HJT core modules is estimated to reach 5.3 billion yuan by 2025, with a CAGR of 74% from 2022 to 2025. Though the growth room may be smaller, high profits and a positive competitive landscape offer opportunities for companies in this sector as the market continues to develop.
HJT Paste:
The HJT paste market is set to reach a market share of 18 billion yuan by 2025, with a CAGR of 66% from 2022 to 2025. Metallization is crucial to reduce costs, and the demand for HJT paste is expected to increase rapidly as the market continues to develop.
Robo Tech: A Leading Provider of High-End PV Automation Equipment Expanding into Battery Equipment
Robo Tech has emerged as a frontrunner in the comprehensive layout of PERC, TOPCON, and HJT automation equipment, spearheading cutting-edge technology in copper plating heterojunction mass production. In a groundbreaking achievement, the company successfully shipped its first single GW copper plating equipment in June 2023. This milestone not only signifies a significant increase in the production capacity of single copper plating, soaring from 600MW to an impressive 1MW, but also results in a remarkable 20% reduction in floor space. Moreover, the versatility of this equipment extends beyond HJT, as it can also be applied to XBC and other high-efficiency cell processes.
Maxwell: A Pioneering Leader in Photovoltaic Heterojunction Equipment Set for Continued Growth
Maxwell stands at the forefront as a leading company in PV HJT equipment, benefiting from its first-mover advantages and comprehensive supply capacity across the entire production line. Remarkably, its equipment value coverage has soared from 25% in the PERC field to an impressive 95% in the HJT field. Furthermore, the company has forged strong collaborations with renowned downstream customers such as Tongwei, HuaSun, REC, Golden Solar, Akcome, Mingyang Smart Energy, Hareon, Canadian Solar, and others.
Jinchen Shares: An Emerging Star in Photovoltaic Heterojunction Cell Equipment, Pioneering in Module Equipment
Jinchen Shares, in collaboration with Germany’s H2GEMINI, has successfully established Jinchen Twins, earning recognition for its technical prowess and equity mechanism that leads the industry. Through a highly successful fixed increase of 380 million, the company has augmented the production capacity of PECVD equipment by 20 units annually. Notably, the PECVD equipment prototype has been sent to Jinneng customers for testing and verification, boasting remarkable advantages like substantial production capacity, cost-effectiveness, and an average efficiency rate of 24.38%. Additionally, the first mass production equipment for mono-Si has been successfully delivered, undergoing pilot testing and mass production verification.
S.C Energy: A Leader in PV Cell Equipment, Poised for High Growth in the Next 5 Years
S.C Energy assumes a prominent position as a TOPCon equipment leader, distinguished by its capability to cover the entire production line of HJT equipment. A rarity among domestic manufacturers, the company boasts the ability to produce PERC, TOPCon, and HJT technologies simultaneously. Having secured orders for the entire line of HJT mass production, S.C Energy consistently emerges victorious in bidding for prominent companies, all while adopting the cutting-edge PECVD bifacial microcrystallization technology.