Product Code: 978-1-68038-063-7
Solar PV Market Growth & Trends:
The global solar PV market size is expected to reach 609.30 billion by 2030, expanding at a CAGR of 10.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. Rising demand for sustainable energy resources coupled with favorable regulatory policies is expected to drive the market growth over the forecast period.
Supportive regulations involving federal subsidy and incentives expected to be the prime factors impacting the industry growth on a positive note. Europe has been a major market for solar PV owing to the early adoption of the technology in the region owing to high consumer awareness and positive government outlook in the region.
Increasing demand for renewable energy sources owing to rising consumer awareness towards cost benefits associated with the technology is expected to propel growth. Furthermore, depleting fossil fuel resources coupled with the growing demand for durable energy sources is expected to have a positive impact on industry growth.
The technology offers low conversion efficiencies as compared to conventional energy sources including oil and biomass. Furthermore, the solar PV performance gets affected by various factors including the type of raw material used for solar cell manufacturing, availability of sunlight, and solar PV designs which is expected to hamper its growth over the forecast period.
Solar PV Market Report Highlights:
- On-grid connectivity dominated the market with a revenue share of 74.5% in 2024 and The off-grid segment is expected to register the fastest CAGR over the forecast period
- The segment, ground mounted solar PVs held the largest market share in 2024 and Meanwhile, the rooftop segment is anticipated to witness the fastest growth from 2025 to 2030
- Asia Pacific accounted for 55.6% of the total market share in 2024, on account of the favorable government regulations and initiatives taken by the government to install clean energy resources in order to curb the prevailing issue of pollution
- The major players in the market are investing in R&D activities in order to come up with efficient and high-performance systems in order to tap the rising consumer attention and to compete with the alternative energy resources
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 & Third-Party Perspectives
- 1.3.4. 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 Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Solar PV Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Regulatory Framework
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Challenges
- 3.4.4. Industry Opportunities
- 3.5. Industry Analysis Tools
- 3.5.1. Porter's Five Forces Analysis
- 3.5.2. Macro-Environmental Analysis
Chapter 4. Solar PV Market: Connectivity Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Solar PV Market: Connectivity Movement Analysis & Market Share, 2024 & 2030
- 4.3. On Grid
- 4.3.1. On Grid Market Revenue Estimates and Forecasts, 2018 - 2030 (MW) (USD Billion)
- 4.4. Off Grid
- 4.4.1. Off Grid Market Revenue Estimates and Forecasts, 2018 - 2030 (MW) (USD Billion)
Chapter 5. Solar PV Market: Mounting Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Solar PV Market: Mounting Movement Analysis & Market Share, 2024 & 2030
- 5.3. Ground Mounted
- 5.3.1. Ground Mounted Market Revenue Estimates and Forecasts, 2018 - 2030 (MW) (USD Billion)
- 5.4. Roof Top
- 5.4.1. Roof Top Market Revenue Estimates and Forecasts, 2018 - 2030 (MW) (USD Billion)
Chapter 6. Solar PV Market: End Use Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Solar PV Market: End Use Movement Analysis & Market Share, 2024 & 2030
- 6.3. Residential
- 6.3.1. Residential Market Revenue Estimates and Forecasts, 2018 - 2030 (MW) (USD Billion)
- 6.4. Commercial & Industrial
- 6.4.1. Commercial & Industrial Market Revenue Estimates and Forecasts, 2018 - 2030 (MW) (USD Billion)
- 6.5. Utility
- 6.5.1. Utility Market Revenue Estimates and Forecasts, 2018 - 2030 (MW) (USD Billion)
Chapter 7. Solar PV Market: Regional Estimates & Trend Analysis
- 7.1. Regional Movement Analysis & Market Share, 2024 & 2030
- 7.2. North America
- 7.2.1. North America Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.2.2. U.S.
- 7.2.2.1. Key Country Dynamics
- 7.2.2.2. U.S. Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.2.3. Canada
- 7.2.3.1. Key Country Dynamics
- 7.2.3.2. Canada Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.2.4. Mexico
- 7.2.4.1. Key Country Dynamics
- 7.2.4.2. Mexico Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.3. Europe
- 7.3.1. Europe Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.3.2. UK
- 7.3.2.1. Key Country Dynamics
- 7.3.2.2. UK Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.3.3. Germany
- 7.3.3.1. Key Country Dynamics
- 7.3.3.2. Germany Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.3.4. France
- 7.3.4.1. Key Country Dynamics
- 7.3.4.2. France Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.3.5. Italy
- 7.3.5.1. Key Country Dynamics
- 7.3.5.2. Italy Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.3.6. Spain
- 7.3.6.1. Key Country Dynamics
- 7.3.6.2. Spain Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.3.7. Russia
- 7.3.7.1. Key Country Dynamics
- 7.3.7.2. Russia Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.4.2. China
- 7.4.2.1. Key Country Dynamics
- 7.4.2.2. China Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.4.3. India
- 7.4.3.1. Key Country Dynamics
- 7.4.3.2. India Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.4.4. Japan
- 7.4.4.1. Key Country Dynamics
- 7.4.4.2. Japan Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.4.5. Australia
- 7.4.5.1. Key Country Dynamics
- 7.4.5.2. Australia Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.5. Latin America
- 7.5.1. Latin America Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.5.2. Brazil
- 7.5.2.1. Key Country Dynamics
- 7.5.2.2. Brazil Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.5.3. Argentina
- 7.5.3.1. Key Country Dynamics
- 7.5.3.2. Argentina Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.6. Middle East & Africa
- 7.6.1. Middles East & Africa Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.6.2. South Africa
- 7.6.2.1. Key Country Dynamics
- 7.6.2.2. South Africa Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.6.3. Saudi Arabia
- 7.6.3.1. Key Country Dynamics
- 7.6.3.2. Saudi Arabia Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
- 7.6.4. UAE
- 7.6.4.1. Key Country Dynamics
- 7.6.4.2. UAE Solar PV Market Estimates & Forecast, 2018 - 2030 (MW) (USD Billion)
Chapter 8. Solar PV Market - Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Heat Map/ Position Analysis, 2024
- 8.4. Strategy Mapping
- 8.4.1. Expansion
- 8.4.2. Mergers & Acquisition
- 8.4.3. Partnerships & Collaborations
- 8.4.4. New Product Launches
- 8.4.5. Research and Development
- 8.5. Company Profiles
- 8.5.1. RENESOLA
- 8.5.1.1. Participant's Overview
- 8.5.1.2. Financial Performance
- 8.5.1.3. Product Benchmarking
- 8.5.1.4. Recent Developments
- 8.5.2. KYOCERA Corporation
- 8.5.2.1. Participant's Overview
- 8.5.2.2. Financial Performance
- 8.5.2.3. Product Benchmarking
- 8.5.2.4. Recent Developments
- 8.5.3. Hanwha Group
- 8.5.3.1. Participant's Overview
- 8.5.3.2. Financial Performance
- 8.5.3.3. Product Benchmarking
- 8.5.3.4. Recent Developments
- 8.5.4. REC Solar, Inc.
- 8.5.4.1. Participant's Overview
- 8.5.4.2. Financial Performance
- 8.5.4.3. Product Benchmarking
- 8.5.4.4. Recent Developments
- 8.5.5. Jinko Solar
- 8.5.5.1. Participant's Overview
- 8.5.5.2. Financial Performance
- 8.5.5.3. Product Benchmarking
- 8.5.5.4. Recent Developments
- 8.5.6. JA SOLAR Technology Co, Ltd.
- 8.5.6.1. Participant's Overview
- 8.5.6.2. Financial Performance
- 8.5.6.3. Product Benchmarking
- 8.5.6.4. Recent Developments
- 8.5.7. First Solar
- 8.5.7.1. Participant's Overview
- 8.5.7.2. Financial Performance
- 8.5.7.3. Product Benchmarking
- 8.5.7.4. Recent Developments
- 8.5.8. Wuxi Suntech Power Co., Ltd.
- 8.5.8.1. Participant's Overview
- 8.5.8.2. Financial Performance
- 8.5.8.3. Product Benchmarking
- 8.5.8.4. Recent Developments
- 8.5.9. Canadian Solar
- 8.5.9.1. Participant's Overview
- 8.5.9.2. Financial Performance
- 8.5.9.3. Product Benchmarking
- 8.5.9.4. Recent Developments
- 8.5.10. Trinasolar
- 8.5.10.1. Participant's Overview
- 8.5.10.2. Financial Performance
- 8.5.10.3. Product Benchmarking
- 8.5.10.4. Recent Developments
- 8.5.11. SHARP CORPORATION
- 8.5.11.1. Participant's Overview
- 8.5.11.2. Financial Performance
- 8.5.11.3. Product Benchmarking
- 8.5.11.4. Recent Developments
- 8.5.12. SunPower Corporation
- 8.5.12.1. Participant's Overview
- 8.5.12.2. Financial Performance
- 8.5.12.3. Product Benchmarking
- 8.5.12.4. Recent Developments
- 8.5.13. Yingli Solar
- 8.5.13.1. Participant's Overview
- 8.5.13.2. Financial Performance
- 8.5.13.3. Product Benchmarking
- 8.5.13.4. Recent Developments