Solar PV Module Market Trends, Share and Forecast, 2025-2032
The global solar PV module market is estimated to be valued at USD 55.45 Bn in 2025 and is expected to reach USD 97.56 Bn by 2032, exhibiting a compound annual growth
The global solar PV module market is estimated to be valued at USD 55.45 Bn in 2025 and is expected to reach USD 97.56 Bn by 2032, exhibiting a compound annual growth
Solar Pv Module Market is projected to reach USD 236.88 Billion, at a 11.37% CAGR by driving industry size, share, top company analysis, segments research, trends and forecast report
According to Coherent Market Insights (CMI), the global solar PV module market size is estimated to be valued at USD 55.4 Bn in 2025 and USD 97.56 Bn by 2032, exhibiting
The community solar segment installed 291 MW dc in Q3 2024, a decline of 17% quarter-over-quarter but a 12% increase year-over-year. Community solar in Maine and Illinois
The solar PV module market size was evaluated at $113.26 billion in 2022 and is slated to hit $184.79 billion by the end of 2030 with a CAGR of
From 2016 to 2022, PV has seen an annual capacity and production growth rate of around 26%, doubling approximately every three years.
These factors are expected to enhance the growth of solar PV panels industry over the forecast period. Solar PV technology has been one of
With increased awareness around energy independence, coupled with rising electricity costs, solar PV modules are emerging as a reliable solution, propelling substantial
North America remains the largest market for solar PV modules, driven by strong government incentives and policies. The Asia-Pacific region is the fastest-growing market, reflecting a
A new report by SolarPower Europe, with India-specific projections contributed by the National Solar Energy Federation of India (NSEFI), projects India''s solar module
The global solar PV module market is estimated to be valued at USD 55.45 Bn in 2025 and is expected to reach USD 97.56 Bn by
While our commercial and community solar outlooks have risen slightly due to enhanced project pipeline visibility, we''ve downgraded our residential outlook as tight module
Discover the growth and challenges of the global solar industry in 2025. Explore the forecasted new installations and the
In the first half of 2024, the United States produced 4.2 GW of PV modules—an increase of 75%, y/y—roughly evenly split between thin
According to the International Energy Agency (IEA), the world is set to add over 5,500 gigawatts (GW) of new renewable energy capacity between 2024 and 2030. Solar PV
OverviewHistory of market developmentSolar PV nameplate capacityCurrent statusHistory of leading countriesSee alsoExternal links
The average price per watt dropped drastically for solar cells in the decades leading up to 2017. While in 1977 prices for crystalline silicon cells were about $77 per watt, average spot prices in August 2018 were as low as $0.13 per watt or nearly 600 times less than forty years ago. Prices for thin-film solar cells and for c-Si solar panels were around $.60 per watt. Module and cell prices declined even further after 2014 (see price quotes in table).
Solar PV installations in India have surged in 2025 with a record 34.98GW of new additions, according to the Indian government.
The community solar segment completed its largest-ever quarter in Q4, achieving an annual record of 1,745 MWdc in 2024. This growth was primarily driven by record-breaking
In the past three months, the International Energy Agency, the International Renewable Energy Agency, and BloombergNEF published
With increased awareness around energy independence, coupled with rising electricity costs, solar PV modules are emerging as a
The IEA-PVPS 2025 Snapshot of Global PV Markets reveals a pivotal moment for solar power: global PV capacity surpassed 2.2 TW,
Solar supply chain in China increased by 29% in 2024. Image: Avaada Group. Australian thinktank Climate Energy Finance (CEF) has forecast global solar module
The report forecasts that global demand for solar modules will grow from 460 GW in 2023 to 674 GW in 2035, at an average growth rate
The solar industry''s rapid expansion has directly benefitted the market for key components such as PV modules, which make up solar panels that harness solar energy for
The solar PV module market size was evaluated at $113.26 billion in 2022 and is slated to hit $184.79 billion by the end of 2030 with a CAGR of nearly 6.25% between 2023 and 2030.
In the first half of 2024, the United States produced 4.2 GW of PV modules—an increase of 75%, y/y—roughly evenly split between thin-film and crystalline silicon (c-Si)
In our most realistic scenario, we anticipate a 10% increase in installations to 655 GW in 2025, with annual growth rates remaining in the low double digits between 2027-2029,
GlobalData highlights that economic growth, rising electricity demand, social development and the energy transition are among the
GlobalData highlights that economic growth, rising electricity demand, social development and the energy transition are among the contributing factors that determine the
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