Photovoltaic Connectors: Global Market Trends & Insights

Photovoltaic Connectors: Market Trends & Insights

Introduction to Photovoltaic Connectors

Photovoltaic connectors play a vital role in circuit systems. They’ve become a cornerstone in the electronics and information industry. Their applications span across sectors like automobiles, communications, and consumer electronics. They’re also prominent in military equipment, aviation, and photovoltaic power stations.

Technical Proficiency and Safety Concerns

Designed especially for the photovoltaic sector, these connectors primarily find use in PV junction boxes, inverters, combiner boxes, and modules. Their ability to handle high voltage and large currents sets them apart, showcasing their technical expertise.

Photovoltaic junction boxes and connectors account for about 3% of a solar panel’s total cost. However, their importance is undeniable. They link major devices within the PV system. Ignoring their safety can result in connector fires, burnouts, and malfunctioning junction boxes. There’s also the risk of electrical leaks in modules and power outages in module strings. A report from the EU’s Horizon2020 “SolarBankability” project revealed that connector damage and burnout rank second among the top 20 technical risks. These risks can lead to significant losses in electricity generation revenue.

Market Dynamics and Indigenization Rate

In China,the domestic photovoltaic market is booming. This growth has led to a rise in the indigenization rate of PV auxiliary materials. Most PV films, glasses, back panels, aluminum frames, and soldering ribbons now come from domestic sources. But for PV connectors, the indigenization rate remains low. Foreign manufacturers like Switzerland’s Stäubli, Amphenol from the USA, and TE Connectivity dominate the market. However, domestic players like Renhe Photovoltaic, Tongling Shares, and Kuaike Electronics are catching up. Stäubli’s MC4 series connectors, introduced in 1996, are used in over 150GW of photovoltaic systems globally.

Pricing and Market Size Projections

A PV junction box typically has a pair of photovoltaic connectors. In 2021, a pair cost about 2.60 yuan. Prices might rise to 2.80 yuan in 2022 due to raw material costs. But by 2023, prices should stabilize at 2.60 yuan/pair. The global market size for photovoltaic connectors from 2022 to 2025 could reach around 913.8/14.0/14.9/15.9 billion yuan.