Latin America Solar Pv Panels Market Size & Outlook
Latin America solar pv panels market, 2018-2030 (US$M)
Related Markets
Latin America solar pv panels market highlights
- The Latin America solar pv panels market generated a revenue of USD 8,427.2 million in 2023.
- The market is expected to grow at a CAGR of 7.3% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 8,427.2 million |
| Market revenue in 2030 | USD 13,811.0 million |
| Growth rate | 7.3% (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, Latin America region accounted for 5.0% 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 |
|---|
Latin America 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 43.89% in 2023. Horizon Databook has segmented the Latin America solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
The regional solar PV panels market is led by Brazil owing to the supportive government policies, rising demand for renewable energy, growing efforts to reduce GHG emissions, and declining cost of solar PV systems. Increasing energy demand due to population growth and rapid industrialization is expected to stimulate the growth of the regional solar PV panels market.
However, increasing focus on alternative clean energy sources, such as nuclear, wind, and biomass, is expected to hinder market growth. The solar PV panels market has been restricted due to the lack of favorable government regulations promoting the adoption of solar PV panels in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America solar pv panels market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America solar pv panels market size, by country, 2018-2030 (US$M)
Latin America Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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