Top 10 Solar Panel Manufacturers by Global Shipments (Q1–Q3 2025)
During the first three quarters of 2025, the photovoltaic industry has reached a new balance among the leading manufacturers. Although Chinese companies continue to dominate, changes in rankings and technological strategies reveal a deep transformation within the solar sector.
According to Solarbe Global and InfoLink Consulting data, the Global Top 4 —Jinko Solar, LONGi, Trina Solar, and JA Solar— maintain almost half of the global market, with a 48.5% combined share. However, the gap with the rest of the competitors is narrowing, marking the start of a more competitive and technologically diverse era.
Global Ranking by Shipment Volume Q1–Q3 2025
Leadership remains concentrated at the top: the first four manufacturers account for nearly 210 GW shipped between January and September. Despite the entry of new competitors, the gap between the Top 4 and the rest remains significant.
Solar Panel Manufacturer Comparison 2023–2025
Although the Top 4 has remained unchanged for years, their internal order has shifted:
- Jinko Solar consolidates its global leadership with over 60 GW shipped in 2025, driven by its Tiger Neo series (n-type TOPCon).
- LONGi, the leader between 2020 and 2022, has lost ground to Trina Solar and JA Solar, which are virtually tied for third place.
- Trina Solar stands out for its rapid growth and dominance in large-format (210 mm) modules.
- JA Solar consolidates its position as a reference in n-type technology, with more than 95% of its modules using this type.
Positions 5 to 10 show the greatest movement. Tongwei and Astronergy rise sharply thanks to vertical integration and capacity expansion; DAS Solar enters the top group for the first time, while GCL Integration and Yingli re-emerge after years of inactivity.
Technological Advances Define the New Balance
The clearest trend in 2025 is the final technological transition toward n-type cells, mainly TOPCon.
Over 90% of modules shipped by major manufacturers already use this technology, displacing traditional PERC.
In addition, some brands are diversifying into emerging technologies such as HJT (Risen, Huasun) and tandem perovskite-silicon, opening the next evolutionary phase of the sector.
Capacity, Expansion, and Margins
The race for scale remains crucial.
Jinko Solar will close 2025 with an annual capacity of around 130 GW; LONGi, Trina, and JA maintain similar levels across the entire value chain.
However, the price war that cut the cost per watt by more than 50% since 2022 has squeezed margins even for the major players: all Top 4 companies posted losses in Q1 2025.
In response, strategies are shifting:
- Internationalization: expanding factories in the U.S., Indonesia, and Vietnam to avoid tariffs and shorten supply chains.
- Selective order management: brands such as Canadian Solar and GCL prioritize higher-margin contracts over volume.
- Automation and efficiency: smart factories that reduce operational costs and production times.
2025: A Turning Point for the Solar Industry
The photovoltaic market is entering a stage of consolidation and maturity. Competition is no longer measured only in gigawatts shipped but in technological efficiency, profitability, and global adaptability.
The slight deconcentration of the Top 4 —from 52% in 2024 to 48.5% in 2025— signals a more open future, with new players gaining ground through innovation and specialization.
The next major trend will combine back-contact, HJT, and tandem technologies, along with a more diversified market approach.
Companies that balance scale, efficiency, and profitability will define the new global solar leadership.
In conclusion, 2025 data confirm one reality: the photovoltaic industry remains dominated by Chinese manufacturers but is entering a phase where technology and commercial strategy will be as decisive as shipment volume.
The challenge for the coming years will not be to produce more, but to produce better, more efficiently, and sustainably.