JA Solar leads Chinese-dominated solar makers ranking by WoodMac

JA Solar Technology Co Ltd (SHE:002459), Trina Solar Co Ltd (SHA:688599) and JinkoSolar Holding Co Ltd (NYSE:JKS) head a global ranking of solar photovoltaic (PV) module manufacturers, released today by Wood Mackenzie.

Nine out of the top 12 manufacturers are Chinese companies, the analyst firm pointed out. The fifth and tenth places are occupied by two companies due to close scores. Wood Mackenzie assessed more than 30 module manufacturers based on nine criteria, including experience, vertical integration, financial performance, capacity utilisation and other factors.

“Our ranking reflects a comprehensive summary of the most important criteria that buyers care about when purchasing solar PV modules. The scoring criteria focuses on the items that buyers ask about most frequently in their requests for quotations or requests for proposals,” said Yana Hryshko, head of solar supply chain at Wood Mackenzie and lead author of the report.

Seven out of the 12 top-ranked manufacturers are each expected to exceed 100 GW of module production capacity by 2027. The overall capacity of wafers and cells of the top 10 ranked companies is projected to reach 830 GW in the next three years. This is enough to meet global demand twice, Wood Mackenzie says.

According to the report, the top 10 ranked manufacturers continue to expand despite the oversupply of manufacturing capacity. The companies are also focusing on achieving greater vertical integration.

Of the top 12, eight companies are self-sufficient in cell capacity, while Tongwei and Risen are the only ones in the ranking that are fully vertically integrated, spanning the entire supply chain from polysilicon to module.

Top 10 solar PV module manufacturer ranking in 2023. Source: Wood Mackenzie.

Top 10 ranked manufacturers’ module capacity compared to total global capacity and global installation rate, 2020-2027: ​

Choose your newsletter by Renewables Now. Join for free!