Photovoltaic components of solar companies

3. Analysis of the Top 10 Global Photovoltaic Module Manufacturers in 2025 Hanwha Q CELLS, the core energy enterprise of South Korea's Hanwha Group—one of the country's top ten conglomerates—has a well-established presence in module manufacturing, R&D, and global market operations.

Figure 3.1 shows the structure of an independent PV power system, mainly consisting of solar cell array, DC combiner box, controller, battery, off-grid inverter, and AC distribution box. The PV components produce direct current to charge the battery and, after DC to AC conversion by the inverter, serve the AC loads. Figure 3.1.

The total module shipments of the top 5 manufacturers nearly reached 300GW in 2023. The major players maintained their leading positions throughout the list. The top four were LONGi, Jinko, Trina and JA Solar, the same order as last year.

The major players maintained their leading positions throughout the list. The top four were LONGi, Jinko, Trina and JA Solar, the same order as last year. Chint (Astonergy), Tongwei, Canadian Solar, Risen Solar, DAS Solar, GCL SI and First Solar were among the top five to ten.

This report, drawing on the latest developments in the 2025 market, analyzes the key characteristics of the top 10 global PV module manufacturers across four dimensions: technological capability, vertical integration, international presence, and performance in the European market.

It is projected that by 2027, solar PV installed capacity will surpass coal and emerge as the leading global source of electricity generation. Between 2017 and 2021, PERC (Passivated Emitter Rear Contact) cells, utilizing P-type silicon, emerged as the prevailing technology, capturing over 90% of the market.