With the disclosure of the annual financial reports of major enterprises, the TOP10 global photovoltaic module shipments in 2023 have finally been released. According to the company's disclosure data, the final ranking has changed from previous expectations.
Judging from the final list, the top 10 global PV module shipments in 2023 are all Chinese companies. FirstSolar and Hanwha Q cells, which were on the list in 2022, both fell in the rankings. Among them, FirstSolar's module sales in 2023 will be 11.4GW, which is not even more than Yingli Energy, Hengdian DMC and Suntech.
Focusing on the top 10, JinkoSolar returned to No. 1 without dispute, with module shipments of 78.52GW in 2023, far exceeding expectations. Among them, N-type modules shipped 48.41 GW, accounting for about 62%, becoming one of the absolute leaders in N-type technology iteration.
Although the competition for the runner-up is a little slow in the deployment of next-generation N-type technology, LONGi's unique green energy is still very resilient, ranking second in the world with 67.52GW of module shipments in 2023. Recently, there has been a lot of discussion about the new generation of LONGi Green Energy's 24.4% "King of Efficiency", and the annual report also disclosed that the new product will be launched in the second half of this year, which may cause a sensation in the market.
Trina Solar and JA Solar ranked third and fourth, respectively. Trina Solar's module shipments in 2023 will be 65.21GW, and JA Solar's cell module shipments in 2023 will be 57.094GW.
The above is also the "first echelon" of global PV modules, with the total shipment of TOP4 modules exceeding 268GW in 2023.
Next, 6~10 places, compared with 2022, the ranking in 2023 will change greatly.
Tongwei Solar replaced Canadian Solar to squeeze into the top 5, with module shipments of 31.11GW in 2023, up 292% year-on-year. Canadian Solar ranked sixth with 30.7GW of shipments.
CHINT Xinneng maintained its 7th position, with 28GW of module shipments in 2023. However, in the N-type iteration, CHINT Xinneng actively took the lead, accounting for 50% of TOPCon module shipments last year, and N-type production capacity accounted for more than 80%. For the sprint TOP5, Chint New Energy can be described as ambitious.
It was followed by Risen Energy and a new energy. Risen Energy will ship 18.99 GW of modules in 2023, up 41% year-on-year. A new energy that has not yet been listed is still 18~20GW.
In the tenth place with the most fierce competition, GCL SI finally grabbed the "last train" with 16.42GW of shipments, which is also the first time in two years that GCL Integration has returned to the global TOP10.
The total module shipments of the top 10 companies reached 394GW, up 60% year-on-year.
In addition to module shipments, the top 10 companies also announced their production capacity data for 2023 and their production capacity expectations for 2024. By the end of 2023, the module production capacity of the top 10 companies will reach 702GW.
(Note: Chint New Energy's 2023 data is as of the end of April this year)
It is worth noting that under the quagmire of overcapacity in the industry, the production capacity growth rate of some companies in 2024 will gradually "slow down", such as JinkoSolar, JA Solar, Canadian Solar and other leading enterprises The expected capacity growth rate in 2024 is significantly lower than that in 2023. JinkoSolar also said in its 2023 annual report that in 2024, the company will maintain a cautious pace of capacity expansion, give priority to focusing on the implementation of advantageous production capacity, and accelerate the elimination of backward production capacity.
For example, Trina Solar expects its module production capacity to reach 120GW in 2024, and TW Solar expects its solar cell and module production capacity to reach 130~150GW and 80~100GW respectively in 2024~2026.
Of course, high-efficiency production capacity and high-profit area production capacity have become the focus of the layout of TOP10 enterprises.
For example, in terms of N-type production capacity, JinkoSolar expects that the N-type production capacity will exceed 100GW in 2024, LONGi Green Energy will accelerate the upgrading and mass production of HPBC and TOPCon production capacity, Xixian with an annual output of 29GW and Taizhou with an annual output of 4GW of high-efficiency HPBC cell production capacity have all been put into operation, Ordos with an annual output of 46GW of silicon ingot and wafer project, 30GW of cell project and Wuhu 10GW module project have been put into operation one after another, and Tongwei expects the company's TNC cell production capacity to exceed by the end of 2024 100GW: Chint New Energy expects that the n-type TOPCon production capacity will reach 59GW in 2024, with n-type production capacity accounting for 91%.
At the same time, the top 10 enterprises have expanded their overseas production capacity in high-profit areas. LONGi Green Energy's 5GW module joint venture plant in Ohio, USA, officially started production in the first quarter, JA Solar's 2GW module production capacity in the US is advancing as planned, Canadian Solar has established a 5GW N-type new technology PV module factory in Mesquite, Texas, which has been officially put into operation in 2023, and a new 6.5GW module capacity and 8GW of TOPCon cell production capacity in Thailand.
Technology iteration, overcapacity, price fighting...... In 2024, when the industry is adjusted, with product innovation capabilities, efficient operation capabilities and global operation capabilities, the 2024 shipment targets of leading enterprises are still high.
Judging from the expected data of each company, in 2024, the TOP10 will still be the same company, but the ranking may change again.
In the past quarter, module shipment data of various companies have also been released.
In the first quarter, JinkoSolar still led the way with 19.993GW of module shipments, followed by JA Solar with 16.059GW of cell module shipments. LONGi Green Energy is affected by the balance between "price" and "volume", and module shipments are temporarily affected.
Chint New Energy also accelerated its module shipments in the first quarter, with N-type shipments accounting for 80% of the total, and GCL Integration, which gained a lot in the module bidding market in the first quarter, followed closely behind with 4.9GW of shipments.
In addition, the data of Yiyi New Energy, Risen Energy, Hengdian East Magnetic, and Yingli Energy are similar and the competition is fierce.
In 2024, 1/4 has passed, and there is still suspense in the final ranking, but to complete the shipment target, based on the industry background, each company is also under pressure. In addition to shipments, the efficient technological progress of mainstream companies and the landing of new products will also become the focus of industry attention in 2024, and Polaris will continue to track it.