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Non-Chinese manufacturers gain ground as trade barriers reshape global solar supply chains
1 minute read
LONGi Green Energy ranked first in Wood Mackenzie’s Global Solar PV Module Manufacturer Ranking 2026, as shifting trade policies and continued oversupply reshaped competition across the global solar manufacturing sector.
Wood Mackenzie’s ranking evaluated 48 module manufacturers across ten countries, representing 65% of global production capacity and 83% of global shipments. Wood Mackenzie assessed suppliers across ten criteria, including capacity utilisation, technology maturity, financial health, supply chain resilience, ESG, reliability standards, Research & Development and so on. 
Nine of the twelve manufacturers sharing top-ten positions are headquartered in China, reinforcing the country’s continued dominance across the global solar supply chain. However, suppliers targeting protected and high-barrier markets gained momentum, with India’s Adani Solar ranking sixth, Singapore-based ELITE Solar eighth and South Korea’s Qcells tenth. 
“Chinese manufacturers continue to lead globally on manufacturing scale, technology advancement and operational efficiency. However, severe financial pressure from ongoing oversupply is accelerating structural change across the sector,” said Yana Hryshko, Head of Solar Supply Chain Research at Wood Mackenzie. 
TOPCon modules accounted for more than 80% of shipments among the top 10 manufacturers in 2025, confirming that the transition to N-type technology is now effectively complete among leading suppliers. Mainstream TOPCon module efficiency reached 24.8% during the year. 
Despite strong shipment volumes, persistent global oversupply continued to pressure profitability across the sector. Leading Chinese solar manufacturers recorded a combined loss of US$5.5 billion in 2025, while most non-Chinese manufacturers remained profitable due to stronger pricing conditions in protected high-barrier markets. 
Average capacity utilisation among the top 10 manufacturers rose to 70% in 2025, up from 67% in 2024, signalling improving demand conditions. Meanwhile, manufacturers continued diversifying production footprints outside China in response to rising trade tensions and localisation requirements. Nine of the top 10 manufacturers now operate facilities in at least two countries.  
Wood Mackenzie awarded 25 manufacturers its Grade A status for 2026, recognising suppliers that meet the industry’s highest benchmarks for operational strength, reliability and transparency.  
The Grade A classification provides an independent benchmark for procurement teams, developers and asset owners evaluating module suppliers. Manufacturers qualify by meeting at least five of Wood Mackenzie’s benchmark criteria, reflecting best-practice standards across leading global suppliers.  
The assessment is based on extensive industry survey data and evaluates manufacturers against current market conditions and supplier qualification requirements. The designation identifies manufacturers considered low-risk and high-reliability partners based on Wood Mackenzie’s assessment methodology. 
Note to the editor:  
 
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