The Top 10 Photovoltaic Module Manufacturers in 2024
Growth of the Photovoltaic Market
In the dynamic solar energy sector, the leading photovoltaic module manufacturers showed remarkable growth in 2024. According to InfoLink Consulting, the top ten market leaders shipped a total of 502 gigawatts (GW) of modules, representing a 22% increase compared to the 413 GW shipped in 2023. However, this annual growth has slowed due to lower demand and an oversupply in the market.
The Four Industry Leaders
The four companies leading this ranking—Jinko Solar, LONGi, JA Solar, and Trina Solar—have maintained their positions since 2019, collectively accounting for 60% of the total shipment volume among the top ten. These companies have solidified their leadership thanks to their production capacity and global market presence.
Jinko Solar, LONGi, JA Solar, and Trina Solar have remained in the top positions since 2019, establishing themselves as the market’s key players. These vertically integrated companies represent 63% of the total shipment volume in the top ten, highlighting a difference of more than 30% compared to other manufacturers.
Competition in the Ranking
The competition in the second tier of the ranking is intense. Tongwei, Astronergy, Canadian Solar, GCL, DAS Solar, and Yingli vied for the next positions, with a difference of approximately 10 GW between them. DMEGC and Risen ranked eleventh, each with 20 GW shipped, close to the top ten. Below the twelfth position, manufacturers such as First Solar, Seraphim, Huayao, and Hanwha showed a more significant gap in their shipment volumes.
Technological Trends: The Rise of TOPCon
N-type TOPCon modules dominated the market in 2024, accounting for nearly 70% of total shipments. PERC modules held a 22% share, while BC (Back-Contact) modules reached 3%. The trend toward large-format modules, particularly the rectangular formats of 182 mm-199 mm, 182 x 210 mm, and 210 x 210 mm, boosted efficiency and versatility in solar applications.
Projections for 2025
By 2025, global photovoltaic module shipments are expected to range between 559 and 603 GW. Despite this optimistic forecast, manufacturers are adopting a stability-driven strategy, adjusting their targets according to market conditions. Competition will demand a greater focus on quality, efficiency, and module performance, as well as the ability to anticipate and respond to regulatory changes and geopolitical risks.
The information presented is based on data collected by InfoLink Consulting.