Asia Pacific Solar Pv Panels Market Size & Outlook
Asia Pacific solar pv panels market, 2018-2030 (US$M)
Related Markets
Asia Pacific solar pv panels market highlights
- The Asia Pacific solar pv panels market generated a revenue of USD 92,684.7 million in 2023.
- The market is expected to grow at a CAGR of 8% from 2024 to 2030.
- In terms of segment, thin film was the largest revenue generating technology in 2023.
- Thin Film is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 92,684.7 million |
| Market revenue in 2030 | USD 158,966.8 million |
| Growth rate | 8% (CAGR from 2023 to 2030) |
| Largest segment | Thin film |
| Fastest growing segment | Thin Film |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thin Film, Crystalline Silicon |
| Key market players worldwide | JinkoSolar Holding Co Ltd DR, Canadian Solar Inc, Hanwha, GCL Technology Holdings Ltd, First Solar Inc, SunPower Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 54.4% of the global solar pv panels market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 158,966.8 million by 2030.
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Solar PV Panels Market Scope
Solar PV Panels Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific solar pv panels 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 panels market will help companies and investors design strategic landscapes.
Thin film was the largest segment with a revenue share of 45.17% in 2023. Horizon Databook has segmented the Asia Pacific solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific solar PV panels market is expected to witness reasonable growth over the forecast period owing to the rising demand for solar PV panels in the countries like China and India. The developing economies of this region have been upgrading their energy infrastructure to meet the rising demand for power and taking measures to control future energy consumption.
Stringent regulatory policies and norms to curb carbon emissions followed by growing consumer inclination toward renewable electricity infrastructure are expected to complement the market growth.
Ongoing technological advancements to curb the power losses and improve the tracking software and algorithms are expected to propel the product demand in the region. In addition, the replacement of aging technologies with improved solar panels is anticipated to further augment the market growth in Asia Pacific.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific solar pv panels market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific solar pv panels market size, by country, 2018-2030 (US$M)
Asia Pacific Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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