Russia Solar Pv Panels Market Size & Outlook, 2023-2030
Russia solar pv panels market, 2018-2030 (US$M)
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Russia solar pv panels market highlights
- The Russia solar pv panels market generated a revenue of USD 6,842.8 million in 2023 and is expected to reach USD 11,920.5 million by 2030.
- The Russia market is expected to grow at a CAGR of 8.3% 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.
Solar pv panels market data book summary
| Market revenue in 2023 | USD 6,842.8 million |
| Market revenue in 2030 | USD 11,920.5 million |
| Growth rate | 8.3% (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, Russia accounted for 4.0% 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 Europe, Russia solar pv panels market is projected to lead the regional market in terms of revenue in 2030.
- Croatia is the fastest growing regional market in Europe and is projected to reach USD 1,371.6 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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Russia 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 42.7% in 2023. Horizon Databook has segmented the Russia solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
In terms of revenue, Russia thin film solar PV panels market accounted for 18.7% in 2022 and is projected to grow at a CAGR of 8.3% over the forecast period. The growth of the solar PV panels market in Russia is supported by the expanding solar industry in the country, driven by strong government support and ambitious long-term solar power projects.
The decreasing prices for solar panels are expected to increase the adoption of solar panels in the country. However, the sanctions imposed by the European union and the G7 countries in response to the Russia-Ukraine geopolitical conflict is expected to restrain the market over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Russia solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into Russia solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Russia solar pv panels market size, by technology, 2018-2030 (US$M)
Russia Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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