According to research published by SolarQuarter, China’s solar PV module exports reached 236 GW in 2024, growing 13% from 207.99 GW in 2023. December exports totalled 16.63 GW, up 9% from November and 3% from December 2023.
Brazil, the Netherlands, India, Saudi Arabia, and Spain were the top markets in December, accounting for 42% of total exports. Europe imported 94.4 GW in 2024, down 7% from 2023’s 101.48 GW, despite a 37% monthly increase in December.
The Netherlands remained Europe’s largest importer, followed by Spain, which saw a 10% drop in annual imports to 10.57 GW.
The Asia-Pacific region imported 68.11 GW in 2024, up 26% from 2023, with Pakistan leading growth at 127%, importing 16.91 GW.
India followed closely with 16.73 GW, both countries representing nearly 50% of the region’s total. December imports dropped 30% year-on-year to 4.56 GW.
The Americas imported 33.28 GW in 2024, rising 10% from 2023. Brazil remained the top market, importing 22.5 GW, a 9% increase, accounting for 68% of the region’s total.
The Middle East saw the highest growth, nearly doubling annual imports to 28.79 GW. Saudi Arabia led with 16.55 GW, a 115% increase from 2023, followed by the UAE at 4.51 GW.
Africa’s imports grew 43% to 11.36 GW, with South Africa remaining the largest importer at 3.81 GW.
Global module exports rose 13% in 2024. While Europe’s imports declined, strong Middle East and Asia-Pacific demand drove growth.
Key trends in 2025 include Europe’s weakened economic conditions, India’s focus on domestic manufacturing, and potential tariff changes in Brazil, with global demand expected to grow from 4% to 9%.
