Core Insights - The Chinese string welding machine industry is experiencing rapid growth driven by policy support and technological advancements, with a projected market size of approximately 5.258 billion yuan in 2024, representing a year-on-year growth of 16.02% [1][8] - String welding machines play a crucial role in enhancing the production efficiency and quality of photovoltaic modules, with multi-busbar technology (MBB) becoming the mainstream due to its optical loss advantages and improved current collection capabilities [1][8] Industry Overview - String welding machines are automated devices controlled by industrial computer systems, utilizing mechanical transmission mechanisms for battery cell transportation and welding through high-temperature gas or infrared heating methods [2] - The industry is characterized by significant technological barriers and rapid iterations, with MBB technology dominating the market as cell sizes increase [8] Industry Value Chain - The upstream of the string welding machine industry includes metal materials (steel, aluminum), mechanical transmission components (motors, gears), electrical control systems (electronic components, sensors), and welding heads [4] - The midstream involves the manufacturing of string welding machines, while the downstream applications are primarily in photovoltaic module manufacturing, including residential, commercial, and utility-scale solar projects [4] Market Demand and Growth - The growth in the string welding machine market is closely linked to the increasing installed capacity of photovoltaic power generation, which reached 1.099 billion kilowatts by June 2025, a year-on-year increase of 54.08% [5][6] - The demand for photovoltaic modules is driving the prosperity of the string welding machine market [6] Relevant Policies - The development of the string welding machine industry is strongly supported by national and local policies aimed at promoting high-quality growth in the photovoltaic industry and achieving carbon peak and carbon neutrality goals [5] - Policies such as the "Implementation Plan for Promoting Equipment Upgrading in the Industrial Sector" encourage the upgrade of advanced equipment, including string welding machines [5] Market Size - The string welding machine industry is projected to reach a market size of approximately 5.258 billion yuan in 2024, with a year-on-year growth of 16.02% [8] - The industry is marked by significant technological barriers and rapid iterations, with MBB technology leading the market [8] Key Players - The competitive landscape of the string welding machine industry is characterized by a "one strong, many strong" feature, with Aotaiwei holding over 70% of the global market share [9] - Aotaiwei's production capacity for large-size ultra-high-speed multi-busbar string welding machines reaches 7,200 cells per hour, adapting to N-type battery technology [9] - Other companies like Xian Dao Intelligent and Ningxia Xiaoniu are capturing niche markets through differentiated competition [10] Industry Development Trends 1. Focus on technological breakthroughs to drive high-end and intelligent upgrades, with a shift towards high precision and efficiency technologies [11] 2. Accelerate global expansion and regional collaboration, with leading companies establishing overseas production capacities and R&D centers [12] 3. Innovate circular economy models to promote green and low-carbon transformation, with a focus on reducing energy consumption and promoting recycling [13][14]