2024 Taiwan’s solar PV module shipment ranking: Local brands defend market share amid rising competition

According to the latest market data from InfoLink Consulting, Taiwan’s local module manufacturers shipped approximately 1.2 GW in 2024, reflecting the ongoing strategic adjustments of Taiwan’s solar PV industry to steadily respond to market shifts. Despite the lack of significant demand growth, local manufacturers continued to support domestic demand with strong flexibility and adaptability, maintaining a stable market share.
 

Top five Taiwan-based module brands by shipment: structure remains stable, with leading brands maintaining dominance

The 2024 ranking of module suppliers in Taiwan remained consistent with last year’s structure, with the top five being TSEC, United Renewable Energy (URE), AUO, Motech, and Gintung. Although market demand in Taiwan was relatively weak in 2024—and further pressured by intensified competition from Southeast Asian modules redirected to Taiwan due to U.S. AD/CVD measures—total shipments declined 32% YoY. Nevertheless, the top five manufacturers still held a combined local market share of around 60%.

Regarding the recent developments among the top five module manufacturers, most are not only pairing locally produced cells with local modules but also enhancing cost competitiveness by using third-country cells for module assembly in Taiwan. 

As the leading local brand, TSEC has maintained its top position despite a sharp YoY decline in total shipments, thanks to continuous product upgrades. Since 2Q23, the company has upgraded its PERC production lines to M10 TOPCon and steadily expanded its n-type product offerings.

URE has continued promoting its TOPCon products while actively expanding its overseas original equipment manufacturing (OEM) and distribution businesses, helping it maintain stable shipments and market share.

AUO, leveraging its strong brand recognition and diversified product strategy—including differentiated offerings such as flexible modules and building-integrated PV (BIPV)—has further strengthened market penetration. In combination with the added advantage of distributing Southeast Asian modules, AUO has secured its position firmly within the top three.

In addition, Motech began developing TOPCon technology as early as 2020. Leveraging its first-mover advantage and strong R&D capabilities, the company introduced new modules in 2024 aimed at smart net-zero buildings, with a focus on BIPV and related applications. Rather than competing in the mainstream standard module market, Motech has opted for a differentiated product strategy to establish a unique competitive edge.

As for the long-established Gintung Energy, the company continues to distribute third-country modules from Jinko, VSUN, and SNE Solar, reinforcing its position in the local market through cost and pricing advantages.

Notably, Voyager Photovoltaic garnered significant attention in 2024 for adopting a fully Made-in-Taiwan (MIT) manufacturing strategy, opting not to collaborate with or outsource production to third-country manufacturers. By prioritizing the use of its own modules in in-house projects and integrating its self-developed cell production lines, Voyager aims to strengthen its vertical integration advantage. Its shipment volume is expected to increase compared with last year, positioning the company as an emerging challenger in Taiwan’s local module market.
 

U.S. trade barriers may impact prices and constrain domestic market growth 

Amid rising uncertainty surrounding U.S. trade barriers, Taiwan’s solar PV industry—from cell manufacturers to downstream developers—faces unprecedented challenges. The U.S. launch of AD/CVD investigations against Southeast Asia in 2024 prompted a surge of Southeast Asian modules into the Taiwan market in the second half of the year, with total imports reaching approximately 700–750 MW, primarily from Vietnam.

Following President Trump’s April 2025 announcement that reciprocal tariffs—excluding those on China—would be suspended for 90 days and replaced by a unified 10% baseline rate during the period, Southeast Asian module exports to the U.S. are expected to see a modest short-term rebound. However, if tariff measures tighten again after the grace period, Southeast Asian modules may once again be redirected to the Taiwan market, potentially driving prices further downward and putting additional pressure on local manufacturers. In the long run, the ability of Taiwanese module makers to remain competitive amid price pressures will depend on their brand positioning and flexibility in navigating global market shifts.

In terms of market demand, despite continued government efforts to promote renewable energy policies, solar module demand in 2024 reached only 2 GWdc, with new installations totaling around 1.8 GWac—further dimming the prospects of achieving the 20 GW installation target originally set for 2025. Current demand is mainly constrained by delays in utility-scale project development, difficulties in land acquisition, and the slow progress of rooftop projects, resulting in a more cautious market sentiment.

Nevertheless, with previously delayed projects gradually being released and the government’s announcement at the end of last year to postpone the installation target to 2026, the market is expected to see a modest rebound this year. Demand is projected to rise to 2.2–2.5 GWdc, with installed capacity reaching around 2 GWac. However, as local elections approach in 2026, political uncertainty may once again affect market progress, and demand is expected to become more conservative from late 2025 through 2026.