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Ranking of Shipment Volume and Gross Profit Margin of Component Enterprises in Q1 2024

Views: 2000     Author: Rachel     Publish Time: 04-30-2024      Origin: company official website

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In April, major solar panel companies around the world successively released their own production, sales, and revenue data. Through analysis and comparison, we have compiled the list of the top 10 companies in terms of shipment volume in Q1 2024 globally.


Specifically:

Ranking    

Company Name

Shipment Volume(GW)

Gross profit margin(%)

Main Product Line

1

Jinko Solar

19.993

9.58

Tiger Neo

2

JA Solar

16

5.06

DeepBlue4.0

3

Trina Solar

14

14.84

Vertex

4

LONGI

12.89

8.89

Hi-mo X6

5

TW Solar

8

9.20

Terra 5K

6

ASTRONERGY

7.4

18.43

ASTRO N7

7

Canadian Solar

6.3

17.75

TOPHiKu6

8

GCL

4.9

10.11

GCL-NT

9

DAS Solar

4.5-5

7-13

DAON

10

RISEN

4.1

8.05

Titan


From the industry data perspective, the concentration of leading solar panel companies has further increased.


The combined shipment volume of the top 4 brands is approximately 63GW, accounting for over 55% of the entire industry; the combined shipment volume of the top 10 brands is approximately 98GW, accounting for nearly 86%. In Q1 2023, the threshold for the top 10 brands was approximately 2GW, which has doubled this year, exceeding 4GW.


This proportion exceeds the expectations of many photovoltaic practitioners. According to data from Solarbe, from January to March this year, the utilization rate of the top 4 brands has basically remained above 60%, exceeding 85% in March. Meanwhile, brands outside the list and ranking lower in the industry have experienced significant fluctuations in utilization rates, dropping to below 20% at times.


According to publicly available data from CPIA, the number of GW-level markets worldwide is expected to increase to 39 in 2024. Several institutions predict that in 2024, the newly installed capacity of global photovoltaic power generation will increase by over 15% from the base of 2023, reaching 450GW (ac), with demand for components possibly exceeding 560GW.


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