Andaman Partners, an international business advisory firm, has released analysis on China’s solar PV supply chain position. The report states that China dominates manufacturing across polysilicon, wafers, cells, and modules globally. This dominance has enabled large-scale deployment and cost leadership across international markets. However, export revenue trends have diverged from shipment volumes during recent years. According to the analysis, China’s solar module revenues fell sharply in 2024 despite continued volume growth. The decline has been linked to collapsing global prices, particularly across European markets. The report describes the solar manufacturing sector as entering a new phase. Supply leadership remains secure, but value capture is increasingly shaped by global pricing cycles. For producers and policymakers, the challenge outlined is sustaining returns in a highly commoditised solar PV market.