Product Code: GVR-4-68041-035-4
Grid Connected PV System Market Summary
The global grid connected PV system market size was valued at USD 73.4 billion in 2025 and is projected to grow from USD 81.5 billion in 2026 to USD 183.6 billion by 2033, at a CAGR of 12.3% from 2026 to 2033. Asia Pacific dominated the market, accounting for a revenue share of 59.4% in 2025. Government policies across the Asia-Pacific region, including renewable energy targets, subsidies, auctions, and rooftop solar programs, are accelerating solar PV adoption by reducing costs and attracting investment.
Falling costs of solar PV modules, inverters, mounting structures, and other balance-of-system components are improving the economic attractiveness of utility-scale and grid-connected solar projects. Technological advancements, manufacturing scale, supply-chain efficiencies, and intense competition among PV manufacturers have contributed to lower equipment prices.
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Higher-efficiency and higher-power modules also enable greater electricity generation from the same project footprint, improving overall project economics. Lower upfront capital expenditure reduces the levelized cost of electricity (LCOE), making solar increasingly competitive with conventional power sources such as coal and natural gas. Global Grid Connected PV System Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global grid connected PV system market report based on the system, component, PV module type, end use, and region.
- System Outlook (Revenue, USD Billion, 2021 - 2033)
- Distributed PV Systems
- Centralized / Utility-Scale PV Systems
- Component Outlook (Revenue, USD Billion, 2021 - 2033)
- Solar Modules
- PCU / Inverters
- Grid Connection Equipment
- Others
- PV Module Type Outlook (Revenue, USD Billion, 2021 - 2033)
- Monocrystalline
- Polycrystalline
- Thin-Film
- Others
- End Use Outlook (Revenue, USD Billion, 2021 - 2033)
- Residential
- Commercial
- Industrial
- Utility-Scale
- Regional Outlook (Revenue, USD Billion, 2021 - 2033)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Methodology segmentation & scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Grid Connected PV System Variables, Trends & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.3.3. Industry Opportunities
- 3.4. Grid Connected PV System Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Grid Connected PV System Market: System Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Grid Connected PV System: System Movement Analysis, USD Billion, 2025 & 2033
- 4.3. Distributed PV Systems
- 4.3.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 4.4. Centralized / Utility-Scale PV Systems
- 4.4.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
Chapter 5. Grid Connected PV System Market: Component Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Grid Connected PV System: Component Movement Analysis, USD Billion, 2025 & 2033
- 5.3. Solar Modules
- 5.3.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 5.4. PCU / Inverters
- 5.4.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 5.5. Grid Connection Equipment
- 5.5.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 5.6. Others
- 5.6.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
Chapter 6. Grid Connected PV System Market: PV Module Type Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Grid Connected PV System: PV Module Type Movement Analysis, USD Billion, 2025 & 2033
- 6.3. Monocrystalline
- 6.3.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.4. Polycrystalline
- 6.4.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.5. Thin-Film
- 6.5.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.6. Others
- 6.6.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
Chapter 7. Grid Connected PV System Market: End Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Grid Connected PV System: End Use Movement Analysis, USD Billion, 2025 & 2033
- 7.3. Residential
- 7.3.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 7.4. Commercial
- 7.4.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 7.5. Industrial
- 7.5.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 7.6. Utility-Scale
- 7.6.1. Market Size Estimates and Forecasts, 2021 - 2033 (USD Billion)
Chapter 8. Grid Connected PV System Market: Regional Estimates & Trend Analysis
- 8.1. Grid Connected PV System Share, By Region, 2025 & 2033, USD Billion
- 8.2. North America
- 8.2.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.2.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.2.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.2.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.2.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.2.6. U.S.
- 8.2.6.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.2.6.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.2.6.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.2.6.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.2.6.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.2.7. Canada
- 8.2.7.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.2.7.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.2.7.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.2.7.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.2.7.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.2.8. Mexico
- 8.2.8.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.2.8.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.2.8.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.2.8.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.2.8.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.3. Europe
- 8.3.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.3.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.3.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.3.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.3.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.3.6. UK
- 8.3.6.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.3.6.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.3.6.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.3.6.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.3.6.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.3.7. Germany
- 8.3.7.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.3.7.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.3.7.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.3.7.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.3.7.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.3.8. France
- 8.3.8.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.3.8.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.3.8.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.3.8.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.3.8.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.4. Asia Pacific
- 8.4.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.4.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.4.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.4.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.4.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.4.6. China
- 8.4.6.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.4.6.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.4.6.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.4.6.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.4.6.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.4.7. India
- 8.4.7.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.4.7.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.4.7.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.4.7.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.4.7.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.4.8. Japan
- 8.4.8.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.4.8.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.4.8.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.4.8.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.4.8.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.4.9. Australia
- 8.4.9.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.4.9.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.4.9.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.4.9.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.4.9.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.4.10. South Korea
- 8.4.10.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.4.10.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.4.10.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.4.10.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.4.10.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.5. Latin America
- 8.5.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.5.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.5.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.5.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.5.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.5.6. Brazil
- 8.5.6.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.5.6.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.5.6.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.5.6.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.5.6.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.6. Middle East & Africa
- 8.6.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.6.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.6.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.6.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.6.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.6.6. Saudi Arabia
- 8.6.6.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.6.6.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.6.6.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.6.6.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.6.6.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.6.7. UAE
- 8.6.7.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.6.7.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.6.7.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.6.7.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.6.7.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
- 8.6.8. South Africa
- 8.6.8.1. Market Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 8.6.8.2. Market estimates and forecast by System, 2021-2033 (Revenue, USD Billion)
- 8.6.8.3. Market estimates and forecast by Component, 2021-2033 (Revenue, USD Billion)
- 8.6.8.4. Market estimates and forecast by PV Module Type, 2021-2033 (Revenue, USD Billion)
- 8.6.8.5. Market estimates and forecast by End Use, 2021-2033 (Revenue, USD Billion)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis by Key Market Participants
- 9.2. Company Categorization
- 9.3. Company Market Share Analysis
- 9.4. Company Heat Map Analysis
- 9.5. Strategy Mapping
- 9.5.1. Expansion
- 9.5.2. Mergers & Acquisition
- 9.5.3. Partnerships & Collaborations
- 9.5.4. New Product Launches
- 9.5.5. Research and Development
- 9.6. Company Profiles
- 9.6.1. JinkoSolar
- 9.6.1.1. Participant's Overview
- 9.6.1.2. Financial Performance
- 9.6.1.3. Product Benchmarking
- 9.6.1.4. Recent Developments
- 9.6.2. LONGi Green Energy Technology
- 9.6.2.1. Participant's Overview
- 9.6.2.2. Financial Performance
- 9.6.2.3. Product Benchmarking
- 9.6.2.4. Recent Developments
- 9.6.3. JA Solar
- 9.6.3.1. Participant's Overview
- 9.6.3.2. Financial Performance
- 9.6.3.3. Product Benchmarking
- 9.6.3.4. Recent Developments
- 9.6.4. Trina Solar
- 9.6.4.1. Participant's Overview
- 9.6.4.2. Financial Performance
- 9.6.4.3. Product Benchmarking
- 9.6.4.4. Recent Developments
- 9.6.5. Canadian Solar
- 9.6.5.1. Participant's Overview
- 9.6.5.2. Financial Performance
- 9.6.5.3. Product Benchmarking
- 9.6.5.4. Recent Developments
- 9.6.6. Tongwei
- 9.6.6.1. Participant's Overview
- 9.6.6.2. Financial Performance
- 9.6.6.3. Product Benchmarking
- 9.6.6.4. Recent Developments
- 9.6.7. Astronergy
- 9.6.7.1. Participant's Overview
- 9.6.7.2. Financial Performance
- 9.6.7.3. Product Benchmarking
- 9.6.7.4. Recent Developments
- 9.6.8. First Solar
- 9.6.8.1. Participant's Overview
- 9.6.8.2. Financial Performance
- 9.6.8.3. Product Benchmarking
- 9.6.8.4. Recent Developments
- 9.6.9. Sungrow
- 9.6.9.1. Participant's Overview
- 9.6.9.2. Financial Performance
- 9.6.9.3. Product Benchmarking
- 9.6.9.4. Recent Developments
- 9.6.10. Huawei Technologies
- 9.6.10.1. Participant's Overview
- 9.6.10.2. Financial Performance
- 9.6.10.3. Product Benchmarking
- 9.6.10.4. Recent Developments