Brazil Solar Pv Panels Market Size & Outlook, 2023-2030
Brazil solar pv panels market, 2018-2030 (US$M)
Related Markets
Brazil solar pv panels market highlights
- The Brazil solar pv panels market generated a revenue of USD 3,146.5 million in 2023 and is expected to reach USD 5,406.4 million by 2030.
- The Brazil 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.
Solar pv panels market data book summary
| Market revenue in 2023 | USD 3,146.5 million |
| Market revenue in 2030 | USD 5,406.4 million |
| Growth rate | 8% (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, Brazil accounted for 1.8% 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 Latin America, Brazil solar pv panels market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 5,406.4 million by 2030.
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Solar PV Panels Market Scope
Solar PV Panels Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Brazil 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 44.66% in 2023. Horizon Databook has segmented the Brazil solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
The most important drivers for solar PV panels are abundant solar resources, increased demand for electricity, increased pressure on the Brazilian government to protect the environment, and sharp drops in PV technology prices.
As per the Brazilian Ministry of Mines and Energy (MME), installed solar power capacity reached 16.4 GW and became the third-largest source in the energy matrix of Brazil. The huge demand for the installation of new solar energy capacities is expected to drive the market in the country in the coming years.
In February 2023, the government of Brazil became a member of the International Solar Alliance. The International Solar Alliance is a collaborative effort to grow solar PV deployment in member countries.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into Brazil solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil solar pv panels market size, by technology, 2018-2030 (US$M)
Brazil Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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