The development of PV cell industry in Southeast Asian countries varies greatly, and the installed capacity of PV power generation in each country also varies greatly. For the time being, foreign enterprises establish PV cell component factories in Southeast Asian countries, mainly for export to developed countries, but the local PV power generation market in Southeast Asia is also developing rapidly.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI’s analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels also vary greatly from country to country, with Brunei, which has the smallest population, having a total population of less than 500,000 people in 2021, and Indonesia, which has the largest population, having a population of about 275 million people in 2021. The most economically advanced countries in Southeast Asia do not have a legal minimum wage, with the actual minimum wage exceeding US$400 per month (for foreign maids), while the lowest minimum wage level in Myanmar is only about US$93 per month.
In March 2022, U.S. PV manufacturer AuxinSolar and others petitioned the U.S. Department of Commerce to take an anti-circumvention investigation of PV products from four Southeast Asian countries; the U.S. Department of Commerce subsequently conducted an investigation, and recently, the release of the preliminary findings of the investigation has been extended from August 2022 to November 2022. On July 1, 2022, the U.S. Department of Commerce published draft regulations implementing Notice No. 10414 and invited public comment.
On September 16, 2022, the U.S. government published a “Final Rule” implementing the Presidential Proclamation. The Final Rule was issued in response to a countervailing investigation filed by AuxinSolar in March 2022. The “Final Rule” confirms that imports of PV cells and modules from four Southeast Asian countries will be exempt from anti-dumping or countervailing duties from June 6, 2022 through June 6, 2024. Under this provision, no cash deposit will be charged on PV cells and modules exported from the four Southeast Asian countries until the deadline (June 6, 2024).
“Final Rule requires installation of modules within 180 days of the cut-off date: To prevent stockpiling by downstream manufacturers, the Final Rule requires modules purchased before the cut-off date (June 6, 2024) to be used or installed in the U.S. by 180 days after the cut-off date. “The Final Rule indicates that in the event of an affirmative determination of countervailing action, no antidumping or countervailing duties will be imposed on cells and modules that enter the United States or are withdrawn from storage for use in Southeast Asia prior to the cut-off date or before the use cut-off date.
CRI expects Southeast Asia’s PV module exports to the U.S. to see high growth in 2023-2024.
Overall, the PV cell industry in Southeast Asian countries has been developing in recent years, especially the rise of emerging markets such as Vietnam and Thailand, with rapid economic growth, which has driven the development of the PV cell industry.
According to CRI forecast, the PV cell industry in Southeast Asia will continue to grow in 2023-2032. On the one hand, the cheap labor and land cost attracts a large number of foreign investors to shift their production capacity to Southeast Asia, and the scale of foreign trade expands, promoting the development of its PV cell industry. On the other hand, economic growth in Southeast Asia and increased demand for domestic passenger and freight transport will also promote the development of the PV cell industry.
- Southeast Asia Photovoltaic Cell Industry Status and Major Sources in 2018-2022
- What is the Impact of COVID-19 on Southeast Asia Photovoltaic Cell Industry?
- Which Companies are the Major Players in Southeast Asia Photovoltaic Cell Industry Market and What are their Competitive Benchmarks?
- Key Drivers and Market Opportunities in Southeast Asia Photovoltaic Cell Industry
- What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Photovoltaic Cell Industry during 2023-2032?
- What is the Expected Revenue of Southeast Asia Photovoltaic Cell Industry during 2023-2032?
- What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
- What are the Competitive Advantages of the Major Players in Southeast Asia Photovoltaic Cell Industry Market?
- Which Segment of Southeast Asia Photovoltaic Cell Industry is Expected to Dominate the Market in 2032?
- What are the Major Adverse Factors Facing Southeast Asia Photovoltaic Cell Industry?
Table of Contents
1 Singapore Photovoltaic Cell Industry Analysis
1.1 Singapore Macro Environment
1.1.4 Singapore Manufacturing Minimum Wage
1.2 Singapore PV Cell Industry Overview 2018-2022
1.2.3 Import and Export
1.3 Singapore Major Photovoltaic Cell Companies Analysis
2 Thailand Photovoltaic Cell Industry Analysis
2.1 Thailand Macro Environment
2.1.4 Thailand Manufacturing Minimum Wage
2.2 Thailand PV Cell Industry Overview 2018-2022
2.2.3 Import and Export
2.3 Analysis of Major Photovoltaic Cell Companies in the Philippines
3 Analysis of Photovoltaic Cell Industry in the Philippines
3.1 Macro Environment of the Philippines
3.1.4 Philippines Manufacturing Minimum Wage
3.2 Philippines Photovoltaic Cell Industry Overview 2018-2022
3.2.3 Import and Export
3.3 Analysis of Major Photovoltaic Cell Companies in the Philippines
4 Malaysia Photovoltaic Cell Industry Analysis
4.1 Malaysia Macro Environment
4.1.4 Malaysia Manufacturing Minimum Wage
4.2 Malaysia PV Cell Industry Overview 2018-2022
4.2.3 Import and Export
4.3 Malaysia Major Photovoltaic Cell Companies Analysis
5 Indonesia Photovoltaic Cell Industry Analysis
5.1 Indonesia Macro Environment
5.1.4 Indonesia Manufacturing Minimum Wage
5.2 Indonesia PV Cell Industry Overview 2018-2022
5.2.3 Import and Export
5.3 Indonesia Major Photovoltaic Cell Companies Analysis
6 Vietnam Photovoltaic Cell Industry Analysis
6.1 Vietnam Macro Environment
6.1.4 Vietnam Manufacturing Minimum Wage
6.2 Vietnam PV Cell Industry Overview 2018-2022
6.2.3 Import and Export
6.3 Vietnam Major PV Cell Companies Analysis
7 Myanmar Photovoltaic Cell Industry Analysis
7.1 Myanmar Macro Environment
7.1.4 Myanmar Manufacturing Minimum Wage
7.2 Myanmar PV Cell Industry Overview 2018-2022
7.2.3 Import and Export
7.3 Myanmar Major Photovoltaic Cell Companies Analysis
8 Brunei Photovoltaic Cell Industry Analysis
8.1 Brunei Macro Environment
8.1.4 Brunei Manufacturing Minimum Wage
8.2 Brunei PV Cells Industry Overview 2018-2022
8.2.3 Import and Export
8.3 Brunei Major Photovoltaic Cell Companies Analysis
9 Laos Photovoltaic Cells Industry Analysis
9.1 Laos Macro Environment
9.1.4 Minimum Wage of Manufacturing Industry in Laos
9.2 Laos PV Cell Industry Overview 2018-2022
9.2.3 Import and Export
9.3 Laos Major Photovoltaic Cell Companies Analysis
10 Cambodia Photovoltaic Cell Industry Analysis
10.1 Cambodia Macro Environment
10.1.4 Minimum Wage of Manufacturing Industry in Cambodia
10.2 Cambodia PV Cell Industry Overview 2018-2022
10.2.3 Import and Export
10.3 Analysis of Major Photovoltaic Cell Companies in Cambodia
11 Southeast Asia PV Cells Industry Outlook 2023-2032
11.1 Southeast Asia Photovoltaic Cell Industry Development Influencing Factors Analysis
11.1.1 Favorable Factors
11.1.2 Disadvantageous Factors
11.2 Southeast Asia PV Cells Industry Development Forecast 2023-2032
11.3 Layout of Chinese Companies in Southeast Asia Photovoltaic Cell Industry
11.4 Impact of COVID -19 Epidemic on PV Cell Industry