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PUBLISHER: Grand View Research | PRODUCT CODE: 1404972
PUBLISHER: Grand View Research | PRODUCT CODE: 1404972
Solar PV Panels Market Size, Share & Trends Analysis Report By Technology (Thin Film, Crystalline Silicon), By Grid Type (On Grid, Off Grid), By Application (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2024 - 2030
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Solar PV Panels Market Growth & Trends:
The global solar PV panels market size was estimated at USD 287.13 billion in 2030 and is expected to grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2030. Growing demand for sustainable carbon-free solar energy coupled with stringent regulations regarding climate change prevention is likely to strengthen the increasing demand for solar PV panels over the forecast period.
As solar PV systems are a form of renewable energy, various governments have implemented programs including feed-in tariffs to provide various economic incentives for investments. This is anticipated to positively impact the market growth in the coming years. Furthermore, cost cuts on account of improvements in technology and economies of scale are key characteristics of solar PV that are expected to be responsible.
The energy generation market has witnessed growth, in terms of the installed capacity of renewable sources, in the past few years on account of the rising environmental concerns along with the pressure to reduce the harmful effects of greenhouse gasses. This has been a major factor in the expansion of solar and wind energy sectors. Governments across the world are supporting energy saving and energy efficiency, which is expected to contribute to the growth of the market over the forecast period.
Industry participants are focusing on developing innovative manufacturing techniques to enhance conversion efficiency and generate the most immediate payback period. For instance, in January 2022, Jinko Solar won a tender offered by China Petroleum Engineering & Construction Corporation, for up to 1.85 GW of its highly efficient solar modules. The company mentioned that it is one of the largest solar module procurements made by CNPC. Further, the company announced that the modules were scheduled to be supplied in 2022 to support CNPC's solar development pipeline in China
Solar PV Panels Market Report Highlights:
- Thin film technology segment accounted for a prominent revenue share and was valued at USD 6.93 billion in 2022 owing to inexpensive thin film manufacturing
- The off-grid segment is expected to witness the fastest CAGR of 16.0% over the forecast period, owing to rising demand for decentralized power generation across remote locations
- Asia Pacific accounted for the largest market share of 54.31% in 2022. The region is expected to witness significant growth owing to high grid utilization in countries such as China, India, and Japan
- JinkoSolar, JA Solar, Trina Solar, LONGi Solar, Canadian Solar, Hanwha Q-CELLS, Risen Energy, GCL-SI, Talesun, and First Solar are some of the significant participants in the solar PV panel industry
Product Code: GVR-4-68038-611-0
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market Segmentation & Scope
- 1.1.1 Market Definitions
- 1.1.2 Research Methodology and Assumptions
- 1.1.2.1 Bottom-Up Approach
- 1.1.2.2 Top-Down Approach
- 1.1.2.3 Cross-Validation
- 1.1.2.4 Market Forecasts
- 1.2 Information Procurement
- 1.2.1 Purchased Database
- 1.2.2 GVR's Internal Database
- 1.2.3 Secondary Sources
- 1.2.4 Third-Party Perspective
- 1.2.5 Primary Research
- 1.3 Information Analysis
- 1.3.1 Data Analysis Models
- 1.4 Market Formulation and Data Visualization
- 1.5 Data Validation and Publishing
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Segment Snapshot
- 2.4 Competitive Landscape Snapshot
Chapter 3 Solar PV Panels Market Variables and Trends
- 3.1 Market Lineage Outlook
- 3.1.1 Energy Generation Market Outlook
- 3.2 Penetration & Growth Prospect Mapping
- 3.3 Industry Value Chain Analysis
- 3.4 Technology Overview
- 3.5 Regulatory Framework
- 3.5.1 Policies and Plans
- 3.5.2 Standards & Compliances
- 3.6 Market Dynamics
- 3.6.1 Market Driver Impact Analysis
- 3.6.1.1 Increasing demand for photovoltaic cells
- 3.6.1.2 Favorable policies and regulations
- 3.6.2 Market Restraint Impact Analysis
- 3.6.2.1 Presence of substitute clean power generation technologies
- 3.6.3 Industry Challenges
- 3.6.1 Market Driver Impact Analysis
- 3.7 Business Environment Analysis: Solar PV Panels Market
- 3.7.1 Industry Analysis - Porter's
- 3.7.2 PESTEL analysis
- 3.8 Impact of COVID-19 on the Solar PV Panels Market
- 3.8.1 Challenges
- 3.8.1.1 Disruption in supply chain
- 3.8.1.2 Reduction in demand from some Countries
- 3.8.2 Steps Taken
- 3.8.3 Impact Analysis - Medium
- 3.8.1 Challenges
Chapter 4 Solar PV Panels Market: Technology Estimates & Trend Analysis
- 4.1 Technology Movement Analysis & Market Share, 2023 & 2030
- 4.2 Solar PV Panels Market Estimates & Forecast, by Technology (USD Billion)
- 4.2.1 Thin Film
- 4.2.2 Crystalline Silicon
- 4.2.3 Others
Chapter 5 Solar PV Panels Market: Application Estimates & Trend Analysis
- 5.1 Application Movement Analysis & Market Share, 2023 & 2030
- 5.2 Solar PV Panels Market Estimates & Forecast, By Application (USD Billion)
- 5.2.1 Residential
- 5.2.2 Commercial
- 5.2.3 Industrial
Chapter 6 Solar PV Panels Market: Grid Type Estimates & Trend Analysis
- 6.1 Grid Type Movement Analysis & Market Share, 2023 & 2030
- 6.2 Solar PV Panels Market Estimates & Forecast, By Grid Type (USD Billion)
- 6.2.1 On-grid
- 6.2.2 Off-grid
Chapter 7 Solar PV Panels Market: Regional Estimates & Trend Analysis
- 7.1 Solar PV Panel Market: Regional Outlook
- 7.2 North America
- 7.2.1 North America Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.2 U.S.
- 7.2.2.1 Key country dynamics
- 7.2.2.2 U.S. Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.3 Canada
- 7.2.3.1 Key country dynamics
- 7.2.3.2 Canada Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.4 Mexico
- 7.2.4.1 Key country dynamics
- 7.2.4.2 Mexico Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3 Europe
- 7.3.1 Europe Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3.2 Germany
- 7.3.2.1 Key country dynamics
- 7.3.2.2 Germany Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3.3 France
- 7.3.3.1 Key country dynamics
- 7.3.3.2 France Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3.4 Italy
- 7.3.4.1 Key country dynamics
- 7.3.4.2 Italy Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3.5 UK
- 7.3.5.1 Key country dynamics
- 7.3.5.2 UK Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3.6 Spain
- 7.3.6.1 Key country dynamics
- 7.3.6.2 Spain Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3.7 Russia
- 7.3.7.1 Key country dynamics
- 7.3.7.2 Russia Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3.8 Turkey
- 7.3.8.1 Key country dynamics
- 7.3.8.2 Turkey Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.3.9 Croatia
- 7.3.9.1 Key country dynamics
- 7.3.9.2 Croatia Solar pv market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific Solar PV Panels market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.4.2 China
- 7.4.2.1 Key country dynamics
- 7.4.2.2 China SOLAR PV PANELS market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.4.3 India
- 7.4.3.1 Key country dynamics
- 7.4.3.2 India SOLAR PV PANELS market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.4.4 Japan
- 7.4.4.1 Key country dynamics
- 7.4.4.2 Japan SOLAR PV PANELS market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.4.5 Australia
- 7.4.5.1 Key country dynamics
- 7.4.5.2 Australia SOLAR PV PANELS market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.4.6 South Korea
- 7.4.6.1 Key country dynamics
- 7.4.6.2 South Korea SOLAR PV PANELS market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.5 Central & South America
- 7.5.1 Central and South America Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.5.2 Brazil
- 7.5.2.1 Key country dynamics
- 7.5.2.2 Brazil Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.5.3 Colombia
- 7.5.3.1 Key country dynamics
- 7.5.3.2 Colombia Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.5.4 Paraguay
- 7.5.4.1 Key country dynamics
- 7.5.4.2 Paraguay Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.6 Middle East and Africa
- 7.6.1 Middle East and Africa Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.6.2 Saudi Arabia
- 7.6.2.1 Key country dynamics
- 7.6.2.2 Saudi Arabia Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.6.3 UAE
- 7.6.3.1 Key country dynamics
- 7.6.3.2 UAE Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.6.4 South Africa
- 7.6.4.1 Key country dynamics
- 7.6.4.2 South Africa Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.6.5 Egypt
- 7.6.5.1 Key country dynamics
- 7.6.5.2 Egypt Solar PV Panel Market estimates & Forecasts, 2018 - 2030 (USD Billion)
Chapter 8 Solar PV Panels Market: Competitive Landscape
- 8.1 Recent Developments & Impact Analysis by Key Market Participants
- 8.2 Company Categorization
- 8.3 Participant's Overview
- 8.4 Financial Performance
- 8.5 Product Benchmarking
- 8.6 Company Market Positioning
- 8.7 Company Market Share Analysis, 2022
- 8.8 Company Heat Map Analysis
- 8.9 Strategy Mapping
- 8.9.1 expansion
- 8.9.2 mergers & acquisitions
- 8.9.3 collaborations
- 8.9.5 new product launches
- 8.9.6 research & Development
Product Code: GVR-4-68038-611-0
List of Tables
- Table 1 Solar PV Panels Market Estimates and Forecast, by Technology, 2018 - 2030 (USD Billion)
- Table 2 Global Solar PV Panels Market Revenue Estimates and Forecast, By Application, 2018 - 2030 (USD Billion)
- Table 3 Global Solar PV Panels Market Revenue Estimates and Forecast, By Grid Type, 2018 - 2030 (USD Billion)
- Table 4 U.S. macro-economic outlay
- Table 5 Canada macro-economic outlay
- Table 6 Mexico macro-economic outlay
- Table 7 Germany macro-economic outlay
- Table 8 France macro-economic outlay
- Table 9 Italy macro-economic outlay
- Table 10 UK macro-economic outlay
- Table 11 Spain macro-economic outlay
- Table 12 Russia macro-economic outlay
- Table 13 Turkey macro-economic outlay
- Table 14 Croatia macro-economic outlay
- Table 15 China macro-economic outlay
- Table 16 India macro-economic outlay
- Table 17 Japan macro-economic outlay
- Table 18 Australia macro-economic outlay
- Table 19 South Korea macro-economic outlay
- Table 20 Brazil macro-economic outlay
- Table 21 Colombia macro-economic outlay
- Table 22 Paraguay macro-economic outlay
- Table 23 Saudi Arabia macro-economic outlay
- Table 24 UAE macro-economic outlay
- Table 25 South Africa macro-economic outlay
- Table 26 Egypt macro-economic outlay
- Table 27 Top 5 Company Market Share, 2023
- Table 28 Company Heat Map Analysis
- Table 29 Key companies undergoing expansion
- Table 30 Key companies involved in M&A
- Table 31 Key companies undergoing collaborations
- Table 32 Key companies launching new products
- Table 33 Key companies undertaking R&D activities
List of Figures
- Fig. 1 Solar PV Panels Market Segmentation
- Fig. 2 Information procurement
- Fig. 3 Primary research pattern
- Fig. 4 Primary research process
- Fig. 5 Primary research approaches
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot
- Fig. 8 Segment Snapshot
- Fig. 9 Competitive Landscape Snapshot
- Fig. 10 Renewable Energy Market Value, 2023 (USD Billion)
- Fig. 11 Solar PV Panels Market - Industry Value Chain Analysis
- Fig. 12 Solar PV Panels Market Dynamics
- Fig. 13 Solar PV Panels Market - Porter's Analysis
- Fig. 14 Solar PV Panels Market - PESTEL analysis
- Fig. 15 Solar PV Panels Market, by Technology: Key Takeaways
- Fig. 16 Solar PV Panels Market Revenue Share, by Technology, 2023 & 2030 (%)
- Fig. 17 Thin-film Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 18 Crystalline Silicon Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 19 Other Technology-based Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 20 Solar PV Panels Market, by Application: Key Takeaways
- Fig. 21 Solar PV Panels Market, by Application: Market Share, 2023 & 2030
- Fig. 22 Residential market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 23 Commercial market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 24 Industrial market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 25 Solar PV Panels Market, by Grid Type: Key Takeaways
- Fig. 26 Solar PV Panels Market, by Grid Type: Market Share, 2023 & 2030
- Fig. 27 On-grid market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 28 Off-grid market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 29 Solar PV Panel Market revenue, by region, 2022 & 2030 (USD Billion)
- Fig. 30 Regional Marketplace: Key Takeaways
- Fig. 31 Regional marketplace: Key Takeaways
- Fig. 32 North America Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 33 U.S. Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 34 Canada Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 35 Mexico Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 36 Europe Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 37 Germany Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 38 France Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 39 Italy Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 40 UK Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 41 Spain Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 42 Russia Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 43 Turkey Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 44 Asia Pacific Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 45 China Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 46 India Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 47 Japan Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 48 Australia Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 49 South Korea Solar PV Panels Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 50 Central and South America Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 51 Brazil Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 52 Colombia Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 53 Paraguay Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 54 Middle East and Africa Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 55 Saudi Arabia Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 56 UAE Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 57 South Africa Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 58 Egypt Solar PV Panel Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 59 Key Company Categorization
- Fig. 60 Company Market Positioning
- Fig. 61 Company Market Share Analysis, 2023
- Fig. 62 Strategic Framework
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