PUBLISHER: Grand View Research | PRODUCT CODE: 1609954
PUBLISHER: Grand View Research | PRODUCT CODE: 1609954
West Africa Solar PV Panel Market Size, Share & Trends Analysis Report By Technology (Thin film, Crystalline Silicon), By Grid (On-grid, Off-grid), By Application (Residential, Industrial, Commercial), By Country, And Segment Forecasts, 2025 - 2030
West Africa Solar PV Panels Market Growth & Trends:
The West Africa solar PV panels market size is estimated to reach USD 844.27 million by 2030, registering to grow at a CAGR of 31.9% from 2025 to 2030 according to a new report by Grand View Research, Inc. Growing concerns over energy conservation and transition from non-renewable sources of energy to renewable sources are projected to surge the demand for solar energy and panels over the estimated period.
The captured solar radiations are further converted into power, which is used in applications such as commercial, industrial, and residential. Increasing usage of solar power as a potential source of commercial energy generation has gained acceptance owing to the reducing PV panel cost, which is excepted to further enhance the growth of the industry.
Countries prone to natural calamities such as tropical cyclones and floods can be targeted by the installers. At times of natural calamities, many times utilities are unable to supply electricity owing to the damage to the electricity distribution system. In this scenario, solar PV systems can act as a feasible solution for residential customers to guarantee an uninterruptible power supply.
Escalating environmental concerns have encouraged regulatory authorities to draft supportive policies and plans for solar photovoltaics across the region. The regulatory authorities emphasize the installation of solar PV in applications such as residential, and commercial buildings.
West Africa receives a high amount of sunlight throughout the year which makes solar PV panels more efficient. Many countries in the region are looking to capitalize on the region's solar power favorable climate and install solar power stations. Countries such as Togo, Mali, Nigeria, and Niger have promoted investment in solar power generation in their countries. These factors are expected to drive market growth in the forecast period.
West Africa Solar PV Panels Market Report Highlights:
- Based on technology, the thin film segment led the market with the largest revenue share of 51.44% in 2024. Thin-film panels demonstrate higher efficiency under low-light conditions, such as cloudy days or partial shading, which can be common in parts of West Africa.
- Based on grid type, the on grid segment led the market with the largest revenue share of 63.16% in 2024. Rapid urbanization in West African countries has led to an increased demand for reliable electricity, particularly in major cities and industrial zones.
- Based on application, the industrial segment led the market with the largest revenue share of 38.57% in 2024. Many industries are embracing sustainability targets, both to comply with international standards and to enhance their market reputation.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources
- 1.3.4. Third-Party Perspectives
- 1.3.5. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. West Africa Solar PV Panel Market Variables, Trends & Scope
- 3.1. Parent Market Outlook
- 3.2. West Africa Solar PV Panel Market - Value Chain Analysis
- 3.2.1. Manufacturing Trends
- 3.2.2. Sales Channel Analysis
- 3.3. Technology Overview
- 3.4. Regulatory Framework
- 3.4.1. Analyst Perspective
- 3.5. West Africa Solar PV Panel Market - Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunity Analysis
- 3.5.4. Industry Challenges
- 3.5.5. Industry Analysis - Porter's
- 3.5.5.1. Threat from New Entrant
- 3.5.5.2. Bargaining Power of Buyers
- 3.5.5.3. Competitive Rivalry
- 3.5.5.4. Threat of Substitutes
- 3.5.5.5. Bargaining Power of Suppliers
- 3.5.5.6. Substitute Material Analysis
- 3.5.6. PESTEL Analysis by SWOT
- 3.5.6.1. Political Landscape
- 3.5.6.2. Environmental Landscape
- 3.5.6.3. Social Landscape
- 3.5.6.4. Technology Landscape
- 3.5.6.5. Economic Landscape
- 3.5.6.6. Legal Landscape
- 3.5.7. Market Disruption Analysis
Chapter 4. West Africa Solar PV Panel Market: Technology Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Product Market Share Analysis, 2024 & 2030
- 4.3. West Africa Solar PV Panel Market Estimates & Forecast, By Technology, 2017 - 2030 (USD Million)
- 4.4. Thin Film
- 4.5. Crystalline Silicon
- 4.6. Others
Chapter 5. West Africa Solar PV Panel Market: Grid Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Material Market Share Analysis, 2024 & 2030
- 5.3. West Africa Solar PV Panel Market Estimates & Forecast, By Grid, 2017 - 2030 (USD Million)
- 5.3.1. On-grid
- 5.3.2. Off-grid
Chapter 6. West Africa Solar PV Panel Market: Application Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Application Market Share Analysis, 2024 & 2030
- 6.3. West Africa Solar PV Panel Market Estimates & Forecast, By Application, 2017 - 2030 (USD Million)
- 6.4. Residential
- 6.5. Industrial
- 6.6. Commercial
Chapter 7. West Africa Solar PV Panel Market: Regional Estimates & Trend Analysis
- 7.1. West Africa Solar PV Panel Market: Regional Outlook
- 7.2. Nigeria
- 7.2.1. Nigeria Mini Solar PV Panel market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent developments & impact analysis by key market participants
- 8.2. Vendor Landscape
- 8.3. Competition Categorization
- 8.4. Strategy Mapping
- 8.5. Company Listing
- 8.5.1. SunPower Corporation
- 8.5.1.1. Company overview
- 8.5.1.2. Financial performance
- 8.5.1.3. Material benchmarking
- 8.5.1.4. Strategic initiatives
- 8.5.2. Canadian Solar
- 8.5.2.1. Company overview
- 8.5.2.2. Financial performance
- 8.5.2.3. Material benchmarking
- 8.5.2.4. Strategic initiatives
- 8.5.3. Trina Solar
- 8.5.3.1. Company overview
- 8.5.3.2. Financial performance
- 8.5.3.3. Material benchmarking
- 8.5.3.4. Strategic initiatives
- 8.5.4. First Solar
- 8.5.4.1. Company overview
- 8.5.4.2. Financial performance
- 8.5.4.3. Material benchmarking
- 8.5.4.4. Strategic initiatives
- 8.5.5. Jinko Solar
- 8.5.5.1. Company overview
- 8.5.5.2. Financial performance
- 8.5.5.3. Material benchmarking
- 8.5.5.4. Strategic initiatives
- 8.5.6. JA Solar Technology Co., Ltd.
- 8.5.6.1. Company overview
- 8.5.6.2. Financial performance
- 8.5.6.3. Material benchmarking
- 8.5.6.4. Strategic initiatives
- 8.5.7. Hanergy Holding Group Ltd.
- 8.5.7.1. Company overview
- 8.5.7.2. Financial performance
- 8.5.7.3. Material benchmarking
- 8.5.7.4. Strategic initiatives
- 8.5.8. HIANS Energy Solutions Ltd.
- 8.5.8.1. Company overview
- 8.5.8.2. Financial performance
- 8.5.8.3. Material benchmarking
- 8.5.8.4. Strategic initiatives
- 8.5.9. ARTsolar (Pty) Ltd.
- 8.5.9.1. Company overview
- 8.5.9.2. Financial performance
- 8.5.9.3. Material benchmarking
- 8.5.9.4. Strategic initiatives
- 8.5.10. Sunhive
- 8.5.10.1. Company overview
- 8.5.10.2. Financial performance
- 8.5.10.3. Material benchmarking
- 8.5.10.4. Strategic initiatives
- 8.5.1. SunPower Corporation
List of Tables
- Table 1. West Africa Solar PV Panels Market, 2019 - 2030 (USD Million)
- Table 2. West Africa Solar PV Panels Market estimates and forecasts by Application, 2019 - 2030 (USD Million)
- Table 3. West Africa Solar PV Panels Market estimates and forecasts by Grid, 2019 - 2030 (USD Million)
- Table 4. West Africa Solar PV Panels Market estimates and forecasts by Technology, 2019 - 2030 (USD Million)
- Table 5. West Africa Solar PV Panels - Key Market Restraint
- Table 6. West Africa Solar PV Panels market by region, 2019 - 2030 (USD Million)
- Table 7. West Africa Solar PV Panels Market by Technology, 2019 - 2030 ( USD Million)
- Table 8. West Africa Solar PV Panels market by Grid, 2019 - 2030 (USD Million)
- Table 9. West Africa Solar PV Panels market by Application, 2019 - 2030 (USD Million)
- Table 10. Nigeria Solar PV Panels market by Technology, 2019 - 2030 (USD Million)
- Table 11. Nigeria Solar PV Panels market by Grid, 2019 - 2030 (USD Million)
- Table 12. Nigeria Solar PV Panels market by Application, 2019 - 2030 (USD Million)
List of Figures
- Fig 1. Market Segmentation & Scope
- Fig 2. West Africa Solar PV Panels market size and growth prospects
- Fig 3. West Africa Solar PV Panels Value Chain Analysis
- Fig 4. Market Dynamics
- Fig 5. West Africa Solar PV Panels Market - Penetration & Growth Prospect Mapping
- Fig 6. Porter's Five Forces Analysis
- Fig 7. PEST Analysis for West Africa Solar PV Panels Industry
- Fig 8. West Africa Solar PV Panels Solar Panels Market: Technology Movement Analysis 2021 & 2030
- Fig 9. West Africa Solar PV Panels Market: Grid Movement Analysis 2021 & 2030
- Fig 10. West Africa Solar PV Panels Market: Application Movement Analysis 2021 & 2030
- Fig 11. West Africa Solar PV Panels Market: Country Movement Analysis 2021 & 2030
