Global Solar Pv Modules Market Size & Outlook, 2023-2030
The solar pv modules industry worldwide is expected to reach a projected revenue of US$ 287,130.6 million by 2030. A compound annual growth rate of 7.8% is expected of the worldwide solar pv modules industry from 2024 to 2030.
Revenue, 2023 (US$M)
$170,246.8
Forecast, 2030 (US$M)
$287,130.6
CAGR, 2024 - 2030
7.8%
Report Coverage
Worldwide
Global solar pv modules market, 2018-2030 (US$M)
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Global solar pv modules market highlights
- The global solar pv modules market generated a revenue of USD 170,246.8 million in 2023 and is expected to reach USD 287,130.6 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 7.8% by 2030.
- In terms of segment, industrial accounted for a revenue of USD 69,054.5 million in 2023.
- Residential is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 170,246.8 million |
| Market revenue in 2030 | USD 287,130.6 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Industrial |
| Fastest growing segment | Residential |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Commercial, Industrial |
Other key industry trends
- In terms of revenue, the North America accounted for 15.9% of the global solar pv modules market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Saudi Arabia is the fastest growing regional market and is projected to reach USD 1,123.1 million by 2030.
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Solar PV Modules Market Scope
Solar pv modules market segmentation & scope
Regions
Latin America
Europe
North America
Middle East & Africa
Asia Pacific
Countries
U.S.
Canada
Mexico
Germany
France
Japan
China
India
Brazil
Saudi Arabia
UAE
UK
Russia
Australia
Solar PV Modules Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global solar pv modules market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solar pv modules market will help companies and investors design strategic landscapes.
Industrial was the largest segment with a revenue share of 40.56% in 2023. Horizon Databook has segmented the Global solar pv modules market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Solar PV Modules Application Outlook (Revenue, USD Million, 2018-2030)
- Residential
- Commercial
- Industrial
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Horizon Databook provides a detailed overview of global-level data and insights on the Global solar pv modules market , including forecasts for subscribers. This global databook contains high-level insights into Global solar pv modules market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global solar pv modules market size, by regions, 2018-2030 (US$M)
Top 10 countries: Solar pv modules market size, 2023 (US$M)
Global solar pv modules market share, by application, 2023 & 2030 (%, US$M)
solar pv modules market: Opportunity assessment by country
Global solar pv modules market, by region, 2023 (US$M)
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