Global Solar Module Junction Boxes Market Growth 2024-2030

Global Solar Module Junction Boxes Market Growth 2024-2030

A solar module junction box is attached to the back of the solar panel. It wires the connectors together and is the output interface of the solar panel. The cables from a junction box transport the electricity from the solar panel to array junction box.

The global Solar Module Junction Boxes market size is projected to grow from US$ 1351 million in 2023 to US$ 2329.1 million in 2030; it is expected to grow at a CAGR of 8.1% from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Solar Module Junction Boxes Industry Forecast” looks at past sales and reviews total world Solar Module Junction Boxes sales in 2023, providing a comprehensive analysis by region and market sector of projected Solar Module Junction Boxes sales for 2024 through 2030. With Solar Module Junction Boxes sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solar Module Junction Boxes industry.

This Insight Report provides a comprehensive analysis of the global Solar Module Junction Boxes landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Solar Module Junction Boxes portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Solar Module Junction Boxes market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solar Module Junction Boxes and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solar Module Junction Boxes.

It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.217 GW. Rising energy demand is expected to drive the global solar photovoltaic junction box market. Globally, energy demand is expected to increase as rapid industrialization and urbanization of the world is the main reason for the increase in global energy demand, while populous countries such as China, India, etc. are expected to witness increased energy demand. Demand growth exceeds 60% of current global energy use. The photovoltaic junction box of the solar panel is an important component. The solar photovoltaic junction box protects all the electrical components on the solar panel from the elements of nature. Corrosion at the terminals can be minimized by using a solar photovoltaic junction box. It controls temperature and ensures long-term safety. As the generation of electricity from solar resources increases, the demand for solar panels and other equipment required for the construction of solar power plants is expected to increase. Hence, the demand for solar photovoltaic junction boxes is expected to grow exponentially throughout the forecast period. There is growing demand for renewable energy, and solar power, backed by the government's ambitious green energy ambitions, has become a big draw for investors. Over the past decade, countries such as China, Germany, and the U.S. have emerged as solar powerhouses and increased solar power generation, which has contributed to the growth of the solar photovoltaic junction box market.

This report presents a comprehensive overview, market shares, and growth opportunities of Solar Module Junction Boxes market by product type, application, key manufacturers and key regions and countries.

Segmentation by type
Crystalline Silicon Junction Box
Amorphous Silicon Junction Box

Segmentation by application
Residential
Commercial
Industrial

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
TE Connectivity
Targray
Phoenix Contact
LEONI
Staubli International
VRM Energy Consultancy Services
Sunter
LEATEC Fine Ceramics
Yitong PV Science & Technology
Tongling Electric
GEESYS Technologies
EIcom International

Key Questions Addressed in this Report

What is the 10-year outlook for the global Solar Module Junction Boxes market?

What factors are driving Solar Module Junction Boxes market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Solar Module Junction Boxes market opportunities vary by end market size?

How does Solar Module Junction Boxes break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.