Paraguay Solar Pv Panels Market Size & Outlook, 2023-2030
Paraguay solar pv panels market, 2018-2030 (US$M)
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Paraguay solar pv panels market highlights
- The Paraguay solar pv panels market generated a revenue of USD 320.7 million in 2023 and is expected to reach USD 545.5 million by 2030.
- The Paraguay 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 320.7 million |
| Market revenue in 2030 | USD 545.5 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, Paraguay accounted for 0.2% 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 |
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Paraguay 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 45.96% in 2023. Horizon Databook has segmented the Paraguay solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing investment in solar energy projects is expected to drive the market. For instance, in June 2021, the Ministry of Industry and Commerce partnered with Ocho ASA to establish a photovoltaic solar energy pilot project in the country with a long-term investment plan of around USD 17-18 million.
In 2017, the renewable energy law compelled the government to support the growing installation of solar power capacities. However, the intense political situation and monopoly of the local utility ANDE in the energy market in the country are expected to hamper the market growth over the forecast period.
Paraguay has set a target to reach 60% of the total energy production to come from renewable energy sources by 2030. This is expected to increase government initiatives to promote the growth of solar PV installation in the country. The market for solar PV panels is expected to grow at a rate of 7.9% from 2023 to 2030.
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Horizon Databook provides a detailed overview of country-level data and insights on the Paraguay solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into Paraguay solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Paraguay solar pv panels market size, by technology, 2018-2030 (US$M)
Paraguay Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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