Global PV module manufacturing share 2021 by country

In 2021, China accounted for 75 percent of the global photovoltaic (PV) module production. The country representing the second-largest share of PV production was Vietnam, accounting for just 6.8 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, the leading solar company in terms of revenue in 2019, Jinko Solar, is headquartered in Shanghai.