Solar PV Panels Market, By Grid Type, By Technology, By Application, By Geography

Description

The Solar PV Panels Market is estimated to be valued at USD 183.14 Bn in 2024 and is expected to reach USD 305.81 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 183.14 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	7.60%	2031 Value Projection:	US$ 305.81 Bn

Figure. Solar PV Panels Market Share (%), By Region 2024

The solar photovoltaic (PV) panel market has witnessed significant growth over the past decade. Growing awareness around climate change and the need for renewable sources of energy has driven rapid adoption of solar energy globally. Solar PV panels directly convert sunlight into electricity and provide a clean and sustainable source of power. With continuous innovations to improve efficiency and reduce costs, solar PV is becoming more competitive compared to traditional power sources. Many governments and countries have set ambitious targets to increase the share of solar power in total energy generation. The solar PV market is expected to grow substantially in the coming years as it remains one of the fastest growing renewable technologies globally.

Market Dynamics:

The global solar PV panels market is driven by several factors such as supportive government policies and regulations, increasing awareness about renewable energy sources, technological advancements leading to efficiency gains, and declining costs of solar panels. Many countries have set renewable energy targets and offer subsidies and tax benefits to promote solar power generation. On the other hand, intermittency of solar power and high initial installation costs remain a challenge. However, growing energy demand globally presents a strong opportunity for solar PV to play a bigger role in the energy mix. Energy storage solutions are also improving to address the grid stability issues arising from variable renewable sources. In addition, innovative business models like solar leasing are making solar more accessible.

Key Features of the Study:

This report provides in-depth analysis of the global solar PV panels market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global solar PV panels market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include JinkoSolar, JA Solar, Trina Solar, LONGi Solar, Canadian Solar, Hanwha Q-CELLS, Risen Energy, GCL-SI, First Solar, SunPower Corporation, Adani Solar, Saatvik Green Energy Pvt. Ltd., Adani Green, Waaree Energies, Tata Power Solar Systems, Vikram Solar, Loom Solar, Renewsys Solar.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global solar PV panels market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global solar PV panels market.

Detailed Segmentation-

By Grid Type:
- On Grid
- Off Grid
By Technology:
- Thin Film
- Crystalline Silicon
- Others
By Application:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- JinkoSolar
- JA Solar
- Trina Solar
- LONGi Solar
- Canadian Solar
- Hanwha Q-CELLS
- Risen Energy
- GCL-SI
- First Solar
- SunPower Corporation
- Adani Solar
- Saatvik Green Energy Pvt. Ltd.
- Adani Green
- Waaree Energies
- Tata Power Solar Systems
- Vikram Solar
- Loom Solar
- Renewsys Solar

Product Code: CMI7155

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Preview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Grid Type
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
PEST Analysis
PORTER's Five Forces Analysis
Market Opportunities
Regulatory Scenario
Industry Trend
Mergers and Acquisitions

4. Global Solar PV Panels Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global Solar PV Panels Market
Impact Analysis

5. Global Solar PV Panels Market, By Grid Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
On Grid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Off Grid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends

6. Global Solar PV Panels Market, By Technology, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Thin Film
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Crystalline Silicon
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends

7. Global Solar PV Panels Market, By Application, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends

8. Global Solar PV Panels Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019-2031
North America
- Introduction
- Market Size and Forecast, By Grid Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Grid Type, 2019 - 2031, (US$ Bn))
- Market Size and Forecast, By Technology, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Grid Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Grid Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Middle East & Africa
- Introduction
- Market Size and Forecast, By Grid Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019 - 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East & Africa

9. Competitive Landscape

Market Share Analysis
Company Profiles
- JinkoSolar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- JA Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Trina Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- LONGi Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Canadian Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Hanwha Q-CELLS
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Risen Energy
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- GCL-SI
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- First Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- SunPower Corporation
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Adani Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Saatvik Green Energy Pvt. Ltd.
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Adani Green
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Waaree Energies
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Tata Power Solar Systems
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Vikram Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Loom Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Updates
- Renewsys Solar
  - Company Overview
  - Grid Type Portfolio
  - Recent Developments/Update

10. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. Section

References
Research Methodology
About Us and Sales Contact
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