In the midst of escalating trade tensions between China and the US and Europe, a senior executive at Arctech, a major solar equipment group, is urging western governments to prioritize the best technology over protectionist measures. Zhou Shijun, the global marketing leader at Arctech, emphasized the importance of allowing innovation to flourish in the renewable energy industry to combat climate change effectively.
Zhou expressed concerns that trade barriers imposed on Chinese products could hinder progress in the sector, particularly for companies producing advanced technologies. He highlighted the impact of overcapacity issues on manufacturers of lower-end technologies, drawing parallels to the auto industry’s dynamics.
Despite the challenges posed by geopolitical tensions, Arctech is diversifying its global business to mitigate risks. While China remains its largest market, the company is eyeing growth opportunities in the Middle East, Asia, and Latin America, with no plans to enter the US market.
With a market capitalization of $1.9 billion and annual revenues of $886 million in 2023, Arctech plays a significant role in supporting large-scale solar power plants with its tracking systems. As China dominates over 80% of global solar manufacturing, the industry faces scrutiny over export practices and pricing strategies.
As Arctech expands its presence internationally, the company is strategically establishing manufacturing bases in India, Saudi Arabia, and Brazil, in addition to its existing operations in China. Despite the challenges, Arctech remains optimistic about the global shift towards renewable energy and the inevitable growth of large-scale solar installations worldwide.