European market imports of Chinese components to maintain incremental

European market imports of Chinese components to maintain incremental

In January 2024, the European market imported about 6GW of photovoltaic modules from China, an increase of 20% over December 2023; in February, it imported about 8GW of photovoltaic modules, an increase of 33% over the same period in 2023, driving a total of 14GW in January-February 2024, a decrease of nearly 18% from the total of 17GW in the same period in 2023.

From the end of 2023 to the beginning of 2024, the Red Sea crisis led to an increase in freight rates and shipping risks, and dealers also took goods in advance to cope with market risks. According to statistics, the inventory of module manufacturers' own European warehouses has dropped by about 50%, and it is estimated that the modules shipped at the end of 2023 have arrived in the European market in the first quarter of 2024. The continuous shipments of module manufacturers from March to April will effectively supplement the current European module inventory. In addition, the European market has improved since the end of last year, mainly TOPCon modules, and the market is expected to continue to improve during the transition from P-type to N-type.

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