Signs of the resurgence of the global PV market are appearing, with the latest being the continuing modest rebound in module revenues. The latest figures come from IHS, which observes that the top 20 suppliers shipped 8.8 GW of modules in Q4 2014, for total revenues of $5.9 billion.
Due to falling module prices, the revenue total still falls short of the record set in Q3 2011, when revenues were in excess of $6 billion. Average module selling prices (ASPs) for the top suppliers fell below $0.60/W for the first time. IHS published the findings in its latest Module Tracker Quarterly report. The revenue figure excludes processing service revenues.
The $5.9 billion in revenues represents growth of 12% from Q4 2014 (YoY). IHS notes that consolidation continues to be evident in the module supply market, with the top 20 leading suppliers accounting for 68% of global demand in 2014, up from 60% in 2011.