China Solar Pv Panels Market Size & Outlook, 2023-2030
China solar pv panels market, 2018-2030 (US$M)
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China solar pv panels market highlights
- The China solar pv panels market generated a revenue of USD 56,225.1 million in 2023 and is expected to reach USD 94,938.3 million by 2030.
- The China market is expected to grow at a CAGR of 7.8% 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 56,225.1 million |
| Market revenue in 2030 | USD 94,938.3 million |
| Growth rate | 7.8% (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, China accounted for 33.0% 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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China 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 44.91% in 2023. Horizon Databook has segmented the China solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
Japan is one of the forefront countries for ground mounted solar PV panels owing to the presence of market players like Mitsubishi and Toshiba. Favorable government initiatives like FiT (feed in tariffs) under which unit price of the electricity is fixed by government, this initiative is introduced to increase investments in renewable energy by price certainty in the country.
As Japan aimed to be carbon neutral by 2050, more such initiatives and investments are expected to increase in the coming years which would augment the solar PV panels market in the region over the forecast period. Japan is recognized as a developed and technologically advanced economy.
Following the Fukushima nuclear disaster in 2011, Japan has significantly invested in solar power generation as the next best alternative for power generation. The country had already launched a few floating solar power stations.
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Horizon Databook provides a detailed overview of country-level data and insights on the China solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into China solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China solar pv panels market size, by technology, 2018-2030 (US$M)
China Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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