Latest news with #YanaHryshko
Zawya
10 hours ago
- Business
- Zawya
World's top solar PV producers plan to open factories in Middle East: Report
Many of the world's top solar photovoltaic (PV) module manufacturers are expected to open production facilities in the Middle East region, according to Wood Mackenzie. These companies are likely to expand into Egypt, Oman, Saudi Arabia, Qatar, and the UAE, the global research consultancy said in its latest global solar PV module manufacturer rankings report. Although China continues to dominate the solar module manufacturing landscape in terms of scale, emerging challengers from India, South Korea, and Vietnam are rapidly closing the gap. Seven of the top 10 manufacturers now operate production facilities in three or more countries, including Cambodia, India, Malaysia, Mexico, and Vietnam. As solar PV module prices remain under pressure, manufacturers will need to strike a balance between cost reduction and ongoing investment in technology and geographic expansion. The industry's future will be shaped by continued expansion into the Middle East and Africa, efficiency gains across various technologies, rising consolidation through vertical integration, and evolving strategies to navigate trade policies and local market regulations. 'Despite financial headwinds, the solar manufacturing industry is quickly repositioning for the next cycle of global growth,' said Yana Hryshko, head of global solar supply chain at Wood Mackenzie. 'Technology leadership, supply chain control, and geographic agility will define the winners in the years ahead,' she said. (Writing by P Deol; Editing by Anoop Menon) (
Yahoo
07-05-2025
- Business
- Yahoo
US tariffs, Europe slowdown reshape global solar panels trade
By Sudarshan Varadhan SINGAPORE (Reuters) -Solar panel makers in Laos and Indonesia, mostly owned by Chinese firms, boosted their share in the U.S. market after steep tariffs hit exports from other Southeast Asian countries including Cambodia and Thailand, trade data showed. The U.S. government finalised steep levies on imports of solar cells and modules from Vietnam, Malaysia, Thailand and Cambodia in April, following two rounds of tariffs in June and November last year, to prevent dumping by mostly Chinese-owned factories in these countries. However, Chinese companies have moved their production to Indonesia and Laos and boosted exports to the United States, Reuters reporting showed. The combined share for Indonesia and Laos in the U.S. solar modules market rose to 29% in the three months after the second round of U.S. duties were imposed on neighbouring producers in late November, from less than 1% in 2023, a Reuters review of U.S. trade data showed. Analysts and industry experts say the southeast Asian capacities owned by Chinese companies were almost exclusively set up to sidestep tariffs and supply the U.S. markets at premiums to global prices, exposing the limits of Washington's trade interventions. Yana Hryshko, head of global solar supply chain research at consultancy Wood Mackenzie, said all solar manufacturing capacity in the four Southeast Asian countries hit with high tariffs would now likely "be shut down or reduced dramatically". CHANGING TRADE ROUTES Solar panel exports from Vietnam, Malaysia, Thailand and Cambodia to the U.S. fell by 33% on an annual basis in the nine months since the first round of tariffs in June. In the same period, exports from regional neighbours Indonesia and Laos grew around eight-fold, the trade data showed. Overall U.S. solar panel imports have fallen 26% since June, with the four countries' combined share of the market plunging from 82% in the full year 2024 to 54% in the three months following the second round of tariffs in late November. U.S. imports of solar cells, which can be assembled in the United States to create panels, have tripled since the first round of tariffs despite higher costs of imports from the targeted countries. However, Indonesia and Laos still ate into the market as their exports surged about 17-fold. Solar cells accounted for roughly 28% of all U.S. solar imports since the first round of tariffs, compared with 6.5% in 2023, the data showed. Chinese manufacturers are already revising export strategies due to concerns about tariffs on Indonesia and Laos, said Fei Chen, solar research analyst at consultancy Rystad Energy.
