Solar PV Module Market, By Technology (Monocrystalline, Polycrystalline, Thin-Film, and Bifacial), By Mounting Type (Rooftop Solar Panels and Ground-Mounted Solar Panels), By Application (Residential, Commercial, Utility-Scale, and Others), By Geography (

The global solar PV module market has been witnessing significant growth over the past few years owing to the increasing awareness regarding the environmental hazards of conventional energy sources and focus of various governments towards cleaner sources of energy to fulfill the ever-growing need for electricity across the world. Most countries are promoting solar energy usage through subsidies, tax incentives, and renewable purchase obligations. This has spurred the demand for solar PV modules from residential, commercial, and utility-scale projects. Advancements in solar cell and module technology along with decreasing module prices have further boosted the prospects of solar PV over the forecast period.

Market Dynamics:

The major drivers boosting the global solar PV module market include supportive government policies and declining costs of solar modules. Many governments globally have introduced subsidy schemes, tax breaks, and net-metering policies to encourage the proliferation of renewable energy sources including solar. This has increased the adoption of solar PV across both off-grid decentralized applications and large utility-scale projects. This has improved the competitiveness of solar PV compared to fossil fuels. However, factors such as intermittency of solar power supply and high initial investment pose challenges to market growth. Furthermore, fluctuations in polysilicon price present opportunities for manufacturers to adopt cost-optimization strategies and reduce dependency on polysilicon imports.

Key Features of the Study:

  • This report provides in-depth analysis of the global solar PV module market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025–2032), considering 2024 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global solar PV module market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include First Solar, Inc., Canadian Solar Inc., JinkoSolar Holding Co., Ltd., Trina Solar Limited, SunPower Corporation, LONGi Green Energy Technology Co., Ltd., Q CELLS (Hanwha Q CELLS), Silfab Solar Inc., JA Solar Technology Co., Ltd., Risen Energy Co., Ltd., REC Group, Yingli Green Energy Holding Company Limited, Adani Solar, GCL-Poly Energy Holdings Limited, and Solaria Energía y Medio Ambiente, S.A.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global solar PV module market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global solar PV module market
Market Segmentation
  • Technology Insights (Revenue, USD Bn, 2020 - 2032)
  • Monocrystalline
  • Polycrystalline
  • Thin-Film
  • Bifacial
  • Mounting Type Insights (Revenue, USD Bn, 2020 - 2032)
  • Rooftop Solar Panels
  • Ground-Mounted Solar Panels
  • Application Insights (Revenue, USD Bn, 2020 - 2032)
  • Residential
  • Commercial
  • Utility-Scale
  • Others
  • Regional Insights (Revenue, USD Bn, 2020 - 2032)
  • North America
  • U.S.
  • Canada
  • Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
  • Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
  • Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
  • Africa
  • South Africa
  • North Africa
  • Central Africa
  • Key Players Insights
  • First Solar, Inc.
  • Canadian Solar Inc.
  • JinkoSolar Holding Co., Ltd.
  • Trina Solar Limited
  • SunPower Corporation
  • LONGi Green Energy Technology Co., Ltd.
  • Q CELLS (Hanwha Q CELLS)
  • Silfab Solar Inc.
  • JA Solar Technology Co., Ltd.
  • Risen Energy Co., Ltd.
  • REC Group
  • Yingli Green Energy Holding Company Limited
  • Adani Solar
  • GCL-Poly Energy Holdings Limited
  • Solaria Energía y Medio Ambiente, S.A.


1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Global Solar PV Module Market, By Technology
Global Solar PV Module Market, By Mounting Type
Global Solar PV Module Market, By Application
Global Solar PV Module Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER’s Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends
4. Global Solar PV Module Market, By Technology, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Monocrystalline
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Polycrystalline
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Thin-Film
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Bifacial
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Solar PV Module Market, By Mounting Type, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Rooftop Solar Panels
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Ground-Mounted Solar Panels
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Solar PV Module Market, By Application, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Residential
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Commercial
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Utility-Scale
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
7. Global Solar PV Module Market, By Region, 2020 - 2032, Value (USD Bn)
Introduction
Market Share (%) Analysis, 2025, 2028 & 2032, Value (USD Bn)
Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD Bn)
Regional Trends
North America
Introduction
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Mounting Type, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
U.S.
Canada
Latin America
Introduction
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Mounting Type, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Introduction
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Mounting Type, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Introduction
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Mounting Type, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
Introduction
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Mounting Type, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
GCC Countries
Israel
Rest of Middle East
Africa
Introduction
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Mounting Type, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD Bn)
South Africa
North Africa
Central Africa
8. Competitive Landscape
First Solar, Inc.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Canadian Solar Inc.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
JinkoSolar Holding Co., Ltd.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Trina Solar Limited
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
SunPower Corporation
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
LONGi Green Energy Technology Co., Ltd.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Q CELLS (Hanwha Q CELLS)
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Silfab Solar Inc.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
JA Solar Technology Co., Ltd.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Risen Energy Co., Ltd.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
REC Group
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Yingli Green Energy Holding Company Limited
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Adani Solar
GCL-Poly Energy Holdings Limited
Solaria Energía y Medio Ambiente, S.A.
9. Analyst Recommendations
Wheel of Fortune
Analyst View
Coherent Opportunity Map
10. References and Research Methodology
References
Research Methodology
About us
*Browse 32 market data tables and 28 figures on 'Solar PV Module Market' - Global forecast to 2032

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