Wood Mackenzie, a global research and consultancy firm, has ranked JA Solar and Trinasolar jointly first in its Global Solar Module Manufacturer Ranking for H1 2025, with nearly identical scores. The review covered 38 crystalline-silicon module manufacturers and showed increasing operational and financial divergence across the industry. The top ten suppliers accounted for 62% of global shipments but recorded a combined $2.2 billion net loss amid sustained price declines. Average utilisation among the top ten reached 70%, compared with 43% for other manufacturers. Adani Solar and DMEGC Solar reported full utilisation during the period. The ranking also introduced a Grade A classification, awarded to 29 manufacturers across nine countries, to reflect procurement and operational benchmarks.

Criteria performance has varied widely among Grade A manufacturers assessed by Wood Mackenzie.
Criteria performance has varied widely among Grade A manufacturers assessed by Wood Mackenzie. Image Credit: SOLARbytes