JinkoSolar Holding has once again emerged as the leading company in terms of global solar photovoltaic (PV) module shipments in 2019, according to a leading data and analytics company GlobalData.
JinkoSolar topped the table with 14.2GW of PV modules compared to the second-ranked JA Solar’s 10.3GW. The majority of the companies featured in the table are from Asia-Pacific (APAC).
GlobalData’s latest ranking reveals that not much has changed since last year. However, the top ten manufacturers have shown an increase in their shipments over the last year.
In 2019, the top ten manufacturers had shipped approximately 80.3GW modules compared to 63GW in 2018, which is an increase of more than 27%. The top ten manufacturers are likely to lead with more than 75% of the module shipments in 2020.
The global solar PV market is experiencing higher demand, continuous cost reduction, software and technology development and improvement in module efficiency. The enhanced solar system efficiency and performance, as well as data analytics for improved asset management and commercial monitoring have significantly reduced the levelised cost of energy (LCOE) in today’s comparison and is set to improve further due to technological advancements.
At number two, JA Solar held a strong position with approximately 17% shipment increase with high product quality and reliability, performance and innovation. JA Solar reported that the efforts to expand their presence in the emerging international markets in the Middle East have led to increased module shipments and profitability.
Trina Solar Limited and LONGi Solar occupied the third and fourth place with shipments of 9.7GW and 9GW respectively. Canadian Solar came fifth with 8.5GW, Hanwha Q CELLS was sixth with 7.3GW, Risen Energy Co was in the seventh place with 7GW, and First Solar was at the eighth spot with 5.5GW of shipments.
Chinese manufacturers will continue to dominate as the overall leader in solar installations in 2020 as newer emerging markets in Southeast Asia, Latin America and the Middle East mark their presence on the solar map as demand centres. China, the US, Europe and India will continue to remain the major markets for the solar module suppliers.