The global solar ranking for the first half of 2025 places JA Solar and Trinasolar in first place, according to the Wood Mackenzie report. Wood Mackenzie recognizes JA Solar and Trinasolar as the only manufacturers to maintain leadership amid a global loss of 2.2 billion.
Keys to the world solar ranking and its key players
The global solar industry is going through one of its most complex stages. However, JA Solar and Trinasolar have managed to position themselves as the leading manufacturers of solar modules. solar modules modules in the first half of 2025, according to the most recent ranking published by the energy consulting firm Wood Mackenzie.
The report evaluated 38 crystalline silicon module manufacturers, awarding a score of 91.7 to JA Solar and 91.6 to Trinasolar.The report rated JA Solar 91.7 and Trinasolar 91.6. Both companies shared first place in this ranking, which introduces for the first time the “Grade A” category as a benchmark of operational excellence and financial sustainability.
An industry under pressure: falling prices and excess supply
Despite the leadership achieved, the top ten manufacturers reported combined losses of US$2.2 billion in the first half of the year. This situation reflects the impact of the global oversupply and the sharp fall in solar module prices, a phenomenon that has affected both large and medium-sized producers.
While Chinese leaders such as JA Solar and Trinasolar maintained their position thanks to high capacity utilization, non-Chinese manufacturers managed to preserve their profitability by focusing on regulated and high value-added markets.
Profitability and diversification as differentiating factors
The study highlights that the most competitive manufacturers maintained an average utilization rate of 70%, compared to 43% for the rest of the market. Companies such as Adani Solar and DMEGC Solar achieved 100% utilization, demonstrating a lean and efficient production strategy.
Geographic diversification was also key. Companies from India, South Korea, Singapore and the United States consolidated their presence in the ranking, driven by stricter trade policies and the search for independence from Chinese hegemony.
The value of “Grade A”: a signal to solar buyers
The introduction of the “Grade A” standard marks a turning point in the analysis of the solar market. solar market. Beyond the volume of shipments, this classification makes it possible to identify manufacturers that meet high standards in efficiency, quality and financial management. In total, 29 companies from nine countries earned this distinction in the first half of the year.
According to Yana Hryshko, director of Global Solar Supply Chain at Wood Mackenzie, this category aims to offer buyers a reliable tool to reduce risk and ensure quality in their procurement.
Trends for 2026: efficiency, integration and consolidation
The report also projects a structural change in the industry for the 2026-2027 period. Progressive market consolidation is expected, with closures or mergers of less competitive manufacturers, while the leaders will maintain stable utilization rates and a privileged position to capitalize on future recovery.
In addition, a technological leap forward is anticipated thanks to the development of TOPCon 3.0 and downstream contact technologies, which will make it possible to exceed 25% efficiency in main modules. On the other hand, expansion into regions such as MENA reveals a commitment to vertical integration and localized production as a strategy in the face of international trade barriers.
In this new scenario, the focus shifts from volume to quality, diversification and innovation as pillars to lead an industry that is seeking stability after a challenging year.
Source and photo: Wood Mackenzie