Global PV module manufacturing share 2022 by country

In 2022, China accounted for 77.8 percent of the global photovoltaic (PV) module production. The country representing the second-largest share of PV production was Vietnam, accounting for just 6.4 percent.

Global trends in solar energy

Solar is one of the fastest-growing energy technologies in the global market, as the average cost of using solar PV has decreased over the years. Recent years have seen impressive annual growth in the global production volumes of solar modules. At the same time, the average installed cost for solar photovoltaics has consistently decreased every year since 2010. While the annual figures fluctuated, investments in solar energy technologies worldwide were significantly higher than just a decade ago.

China dominates the solar industry

In addition to dominating the PV module production market, China is also the global leader in installed PV capacity. What’s more, one of the leading solar company in terms of revenue, Jinko Solar, is headquartered in Shanghai.