Q3/2020 Sales Up For German PV Equipment Makers

German PV Equipment Sales During Q3/2020 Rose 40% QoQ As Incoming Orders From Asia Accounted For 90% Of Total; VDMA Says Low Point Of Q2/2020 Has Been Overcome

Q3/2020 Sales Up For German PV Equipment Makers

VDMA is hopeful that increased sales and higher incoming orders in Q3/2020 spell a good omen for German PV equipment makers. However, it wants the manufacturers to look ahead with cautious optimism. (Photo Credit: VDMA/Twitter)

  • VDMA says during Q3/2020, sales for German PV equipment makers increased QoQ by 40%
  • Asian orders increased 62% compared to Q3/2019 and accounted for 90% of total orders in the reporting period
  • Domestic sales declined compared to last quarter to 4% compared to 21%, but in America sales went up to 28% from 7%

After suffering a 53% annual decline in its sales in Q2/2020 with incoming orders going down by over 70%, German solar PV equipment manufacturers could see light at the end of the tunnel in Q3/2020 when the industry registered over 40% sales increase on sequential basis, according to German Engineering Federation VDMA’s PV chapter (see PV Equipment Orders For Germany Drop In Q2/2020).

At the same time during the 3rd quarter of 2020, VDMA says there was an increase in incoming orders especially from Asia that achieved a share of 62% in line with the same quarter of last year. Incoming orders from Asia went up from 45% in Q2/2020 to 90% in Q3/2020 with China maintaining its lead as the largest consumer of German equipment in the quarter, followed by Malaysia during the reporting period.

The book-to-bill ratio was at 1:7 in Q3/2020. “There is hope for a permanent recovery in photovoltaic equipment engineering sector. The current measures following the Covid-19 pandemic are only indirectly affecting PV equipment manufacturers. The low point of the second quarter has been overcome,” said Division Manager of VDMA Photovoltaic Equipment Dr. Jutta Trube.

Sales in America rose from 7% in previous quarter to 28% in Q3/2020 even as domestic sales declined to 4% from 21% in Q2/2020.

Pointing towards increased sales and rising incoming orders, Managing Director of RCT Solutions GmbH and Chairman of the Board of VDMA Photovoltaic Equipment, Dr. Peter Fath sees demand for German PV equipment to be ‘on the rise again’. But added, “German machinery and plant manufacturers should continue to look ahead with cautious optimism.”

In Q3/2019, VDMA reported 12% improvement in QoQ sales for German PV equipment makers (see German PV Equipment Sales In Q3/2019 Up Sequentially).

Dr Jutta Trube of VDMA presented the keynote a the first day of TaiyangNews’ High Efficiency Solar Technologies conference on Dec 1, 2020. The conference continues till Dec. 4, 2020, with the final day (Friday, Dec. 4) focussing on IBC – All Ways Lead the Efficiency Leader solar technologies. Free registrations are still open here

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.

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