China’s solar PV module exports hit 236 GW in 2024, with growth in all regions except Europe

China exported 16.63 GW of modules in December 2024, up 9% MoM from 15.2 GW and up 3% YoY from 16.18 GW, according to InfoLink’s customs data. China exported 235.93 GW of modules from January to December 2024, up 13% YoY from 207.99 GW.

In December 2024, the five largest markets importing Chinese modules were, in order, Brazil, the Netherlands, India, Saudi Arabia, and Spain, with monthly imports making up 42% of the global total. Regionally, Europe, the Middle East, and Africa all saw rising import volumes, while the Americas showed a slight decline, and the Asia-Pacific witnessed a significant downturn.


 

Europe

Europe imported 5.63 GW of Chinese modules in December 2024, up 37% MoM from 4.1 GW and up 12% YoY from 5.05 GW. Europe imported 16.7 GW of Chinese modules in 4Q24, up 3% YoY from 16.15 GW. Europe accumulated 94.4 GW of module imports from January to December 2024, down 7% YoY from 101.48 GW.

Excluding the Netherlands, Europe's largest shipping hub, Spain ranked second among individual countries for Chinese module imports in 2024. From January to December 2024, China exported 10.57 GW of modules to Spain, down 10% YoY from 11.75 GW, accounting for 11% of the Europe’s total, while the Netherlands led with a 40% share.


 

Asia-Pacific

The Asia-Pacific imported 4.56 GW of modules from China in December 2024, down 10% MoM from 5.08 GW and down 30% YoY from 6.56 GW. The Asia-Pacific imported 13.98 GW of Chinese modules in 4Q24, down 32% YoY from 20.54 GW. The region imported 68.11 GW of modules in total from January to December 2024, up 26% YoY from 53.93 GW.

Pakistan led the Asia-Pacific market in Chinese module imports throughout 2024, reaching 16.91 GW in total, up 127% YoY from 7.47 GW, making up 25% of the region's total imports. India followed closely, importing 16.73 GW, also making up nearly 25% of the region's total imports.


 

Americas

The Americas imported 3.16 GW of modules from China in December 2024, down 1% MoM from 3.2 GW and up 18% YoY from 2.67 GW. China exported 8.97 GW of modules to the Americas in 4Q24, up 10 % YoY from 8.14 GW. In 2024, cumulative shipments to the Americas reached 33.28 GW, representing a 10% YoY increase from 30.18 GW.

In 2024, Brazil accounted for the largest share of Chinese module imports in the Americas, with 22.5 GW imported in total, up 9% YoY from 20.61 GW. Brazil accounted for 68% of the region's total imports, followed by Chile at 7%, with imports totaling  2.48 GW of modules.


 

The Middle East and Africa

The Middle East imported 1.97 GW of modules from China in December 2024, up 16% MoM from 1.7 GW and up 31% YoY from 1.5 GW. China exported 5.9 GW of modules to the Middle East in 4Q24, up 42 % YoY from 4.15 GW. In 2024, cumulative shipments to the Middle East reached 28.79 GW, representing a 99% YoY increase from 14.46 GW.

In the region, Saudi Arabia accounted for the largest share, importing 16.55 GW of Chinese modules in 2024, up 115% YoY from 7.71 GW. Saudi Arabia accounted for 58% of the region's total imports, followed by the UAE at 16%, with imports totaling  4.51 GW of modules.


 

Africa imported 1.31 GW of modules from China in December 2024, up 17% MoM from 1.12 GW and up 222% YoY from 0.41 GW. China exported 3.62 GW of modules to the Africa in 4Q24, up 164 % YoY from 1.37 GW. In 2024, cumulative shipments to the Middle East reached 11.36 GW, representing a 43% YoY increase from 7.94 GW.

Among African countries, South Africa accounted for the largest share, importing 3.81 GW of Chinese modules in 2024, down 7% YoY from 4.11 GW. South Africa accounted for 34% of the region's total imports, followed by Morocco with 10%, with imports totaling 1.13 GW of modules.


 

The global market grew in 2024 compared to 2023, except for Europe, where shipments fell by 7%. Other regions saw strong growth: the Middle East increased by 99%, Africa by 43%, Asia-Pacific by 26%, and the Americas by 10%. Overall, global module shipments rose 13%, exceeding demand expectations. For 2025, key factors to watch include Europe's weak economy, India’s push for domestic production, and Brazil’s tariff adjustments on imports. Emerging markets in the Middle East, Southeast Asia, and Eastern Europe may continue to grow and are worth monitoring. According to InfoLink’s current forecasts, global demand is expected to increase by 4-9% YoY, with adjustments to be updated based on Q1 trends.