ТОП 10 на най-големите производители на фотоволтаични панели през 2024 г.

According to the latest report by the renowned American agency Wood Mackenzie Global Solar Module Manufacturer Rankings 2025, the world's 10 largest photovoltaic panel manufacturers delivered a record 500 gigawatts (GW) of panels to the market in 2024. This is almost double the volume compared to 2023.

Despite the growth of the global photovoltaic market, which has enabled the largest panel manufacturers to expand, the leading players reported a combined loss of $4 billion as their revenues fell significantly year-on-year.

‘In many ways, 2024 was a year of survival for the panel manufacturing sector due to the scale of production,’ said Yana Hryshko, senior analyst at Wood Mackenzie.

‘Aggressive pricing, intense competition and continued capital investment weighed heavily on margins as manufacturing companies sought to secure long-term leadership in market share and technology,’ Hryshko added in her commentary.


Ranking of the top 10 photovoltaic panel manufacturers in 2024:

Concentration trend
Wood Mackenzie's assessment analysed more than 40 leading panel manufacturers in 10 countries around the world. These companies accounted for 62% of global manufacturing capacity and 89% of global panel shipments in 2024.

Wood Mackenzie's ranking confirms the strong trend towards market concentration in the hands of the ‘TOP 10 panel manufacturers’ in this industry. Despite market turbulence, the top 10 manufacturers maintained a strong average production capacity utilisation rate of 69%, reflecting efficient operations and stable demand for their products. This performance underscores the resilience and competitiveness of leading manufacturers in a competitive pricing environment.


Geographical expansion
According to a report by Wood Mackenzie, China has confirmed its dominance in photovoltaic panel production in terms of volume in 2024. On the other hand, new competitors from India, South Korea and Vietnam are rapidly closing the gap as global panel production becomes more geographically diverse.

Seven of the top ten manufacturers now operate production facilities in three or more countries, including Cambodia, India, Malaysia, Mexico and Vietnam. Looking ahead, several companies in the top 20 are expected to expand into Egypt, Oman, Saudi Arabia, South Africa, Qatar and the United Arab Emirates.

‘Establishing production in multiple countries allows manufacturers to deal with tariffs, local content requirements and import barriers,’ said Hryshko. ‘It's a strategic move to remain competitive in the global market.’


N-type panels dominate the market
In 2024, the transformation of the panel and cell manufacturing industry gained momentum. N-type panels accounted for the majority of shipments from several leading manufacturers. Jinko Solar, the world's largest supplier, said that more than 87% of its shipments in 2024 were N-type panels.

However, TOPCon technology maintained its leading position in advanced technologies with an average conversion efficiency of over 24%. Multi-junction (HJT) and back-contact (BC) panel technologies also saw strong growth, with efficiencies reaching 24% and 25%, respectively.


Positive outlook for the future
As photovoltaic panel prices remain under pressure, manufacturers will need to find a balance between cost reduction and continued investment in new technologies. At the same time, they will be forced to continue their geographical expansion into new markets.

The future of the photovoltaic industry will be linked to continued expansion into the Middle East and Africa, increasing the efficiency of various technologies, growing consolidation through vertical integration, and the development of strategies to succeed in trade policies and local market regulations.

‘Despite financial challenges, the solar industry is rapidly preparing for the next cycle of global growth,’ concluded Hryshko. ‘Technological leadership, supply chain control and geographical flexibility will determine the winners in the coming years.’