In its latest solar industry report, IMS Research found that Suntech, Yingli and Trina Solar topped the photovoltaic module shipment rankings in Q2 2011. Collectively, said the research company, their shipments grew by nearly 20 percent.
First Solar and Sharp, meanwhile, which ranked second and third place respectively in 2010, dropped to fourth and sixth place in Q2.
While many manufacturers have seen plummeting revenues and high inventories due to increased price pressure and solar incentive uncertainty, there are some suppliers which have been able to "capitalize on their strong brands and competitive pricing to increase their market share," said IMS.
In a statement released, it added, "Although the industry experienced a very difficult quarter in Q211, eight of the ten largest module suppliers in fact increased their shipments over Q1, and the ten largest suppliers accounted for over half of the global market."
Looking ahead, IMS believes the market will recover in the second half of 2011. Predictions are that a total of 22 gigawatts of photovoltaic modules will be shipped throughout the full year.
However," continued the statement, "oversupply is likely to continue affecting the industry with annual PV module capacity predicted to reach over twice this amount by the end of the year, making 2011 a record year for capacity additions."