Анализ: 10-те най-големи производители на панели имат достатъчен производствен капацитет, за да задоволят световното търсене

The top ten PV panel manufacturers (the Top 10) are showing strong resilience despite facing significant market turbulence, according to their first-half 2024 financial results. This is according to consultancy Wood Mackenzie in its report "Global solar module manufacturer ranking H1 2024".

The solar panel market faced significant challenges in 2024, including unprecedented price declines. Despite market turbulence, the top ten (Top 10) PV panel manufacturers achieved an average capacity utilisation rate of 66%, with the majority surpassing 70%. This demonstrates their strong market position and resilience.

According to Wood Mackenzie, the world's leading panel manufacturers include the following companies:

According to analysts, the top ten manufacturers listed above have sufficient capacity to meet global annual demand. The latest ranking shows an increase in the number of non-Chinese manufacturers making it into the top ten, with companies from India, Singapore and Japan making inroads.

Changes in technology
"Profitability differentiates the top players in the industry. While many companies struggled with financial losses, eight of the 13 leading panel makers reported positive profits in the first half of 2024. This success underscores their ability to manage significant price reductions through effective cost control and efficiency optimization," said Yana Hryshko, head of global research at Wood Mackenzie.

The market is experiencing changes in the technology of manufactured panels, and much faster than expected. TOPCon panel technology is gaining dominance, while new HJT and BC panel technologies are also increasing their share of total production. In addition, investment in R&D is increasing, with an average of 4%, up from 2023.

Dramatic drop in prices
"The solar industry has seen a dramatic drop in PV panel prices recently, falling from $0.24 per watt to $0.08 per watt, a reduction of more than 70%. This significant price drop has put significant pressure on sales and profitability across the industry, raising concerns about the sustainability of some manufacturers," Hryshko adds.

According to Mackenzie, however, the current growth in solar demand is not addressing the overcapacity caused by rapid capacity expansion. "The top ten manufacturers are concerned about low capacity utilisation rates and declining margins, forcing them to be more cautious about their future expansion plans, " adds Hryshko.

In its report, Wood Mackenzie assessed more than 38 PV module manufacturers from 11 countries, with total production capacity and supply accounting for 68% and 84% of global production, respectively. The rankings examine nine different criteria, including panel manufacturing experience, vertical integration, financial performance, capacity utilization and more.