Australia Solar Pv Panels Market Size & Outlook, 2023-2030
Australia solar pv panels market, 2018-2030 (US$M)
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Australia solar pv panels market highlights
- The Australia solar pv panels market generated a revenue of USD 4,416.4 million in 2023 and is expected to reach USD 7,519.2 million by 2030.
- The Australia market is expected to grow at a CAGR of 7.9% 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.
Solar pv panels market data book summary
| Market revenue in 2023 | USD 4,416.4 million |
| Market revenue in 2030 | USD 7,519.2 million |
| Growth rate | 7.9% (CAGR from 2023 to 2030) |
| Largest segment | Thin film |
| Fastest growing segment | Thin Film |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 2.6% of the global solar pv panels market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China solar pv panels market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 13,685.2 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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Australia 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 44.67% in 2023. Horizon Databook has segmented the Australia solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
Australia solar PV panels market is expected to grow significantly owing to the increasing utilization of solar PV panels for electricity generation. As per Australian PV Institute, As of December 2022, over 3.36 Billion solar PV panels were installed with a combined capacity of 29.7 gigawatts.
In 2021, 29% of electricity was generated by Solar PV Panels Sources in the country. Wind and solar energy are the primary drivers of renewable generation in Australia. Total Solar PV Panels usage for power generation includes 12% solar, 10%, and 6% hydro energy.
The country has the highest uptake of solar energy worldwide, with nearly 30% of homes having rooftop solar PV, which is expected to boost the demand for Solar PV Panels. In the country, the solar PV system is a major long term investment, hence the market and technology are rapidly growing.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into Australia solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia solar pv panels market size, by technology, 2018-2030 (US$M)
Australia Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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