Spain Solar Pv Panels Market Size & Outlook, 2023-2030
Spain solar pv panels market, 2018-2030 (US$M)
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Spain solar pv panels market highlights
- The Spain solar pv panels market generated a revenue of USD 5,812.7 million in 2023 and is expected to reach USD 10,118.3 million by 2030.
- The Spain market is expected to grow at a CAGR of 8.2% 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 5,812.7 million |
| Market revenue in 2030 | USD 10,118.3 million |
| Growth rate | 8.2% (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, Spain accounted for 3.4% 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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Spain 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 Spain solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
Spain accounted for the high demand for solar energy in Europe on account of increasing electricity demand in the country and rising demand for renewable energy. Over the past years, Spain was the world leader in solar power generation with many governmental resolutions and programs, such as the FIT schemes, supporting investments in the non-conventional sources of energy.
Having removed the ‘sun tax’ and committed to switching entirely to solar and renewable electricity by 2050, Spain is set for a major solar surge. This trend is likely to continue over the forecast period. Spain has high exposure to sun energy, which is expected to have a positive impact on the market.
New building code laws in Spain have mandated the use of solar hot water for remodeled and new private residences. This is likely to have a positive impact on the market over the forecast period as the technology helps generate electricity as well as hot water.
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Horizon Databook provides a detailed overview of country-level data and insights on the Spain solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into Spain solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain solar pv panels market size, by technology, 2018-2030 (US$M)
Spain Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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