Looking back at the global photovoltaic market in 2021, as a result of the overseas pandemic and the high prices in the photovoltaic industry chain, the installation demand has not been fully released. Against the backdrop of the flourishing renewable energy development and the escalation of the European energy crisis, according to EnergyTrend, a research center under TrendForce, it is anticipated that the new photovoltaic installation demand in 2022 will grow by 41.18% year-on-year, reaching 240GW, which is about a 9% increase from the previous forecast of 220GW.

Chart: Forecast of Global GW-Level Photovoltaic Market Installation Demand in 2022 (Unit: MW)

*An upward arrow denotes an increase in market installation demand, while a downward arrow denotes a decrease in market installation demand.

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