To help the industry chain fully understand the actual development of the industry, Solarbe & Solarbe Consulting, after two weeks of intensive research, verification, and analysis, releases this ranking list of module shipments for 27 PV companies in 2025 for your reference. The combined shipments of the Top 15 brands reach approximately 560 GW, making them the absolute mainstay of market supply. At the same time, we have broken down the shipment data of some companies to produce two sub-lists: the Top 15 list for domestic module shipments and the Top 12 list for overseas module shipments of PV companies in 2025. It can be observed that while some of the Top 4 companies have a slight bias toward the domestic market, their overseas market share generally exceeds 50%, offering greater profit potential. For companies whose domestic shipment ranking is better than their overall ranking, they either focus intensely on major central and state-owned enterprise clients or strengthen their distributed channel network.