Turkey Solar Pv Panels Market Size & Outlook, 2023-2030
Turkey solar pv panels market, 2018-2030 (US$M)
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Turkey solar pv panels market highlights
- The Turkey solar pv panels market generated a revenue of USD 1,500.8 million in 2023 and is expected to reach USD 3,329.1 million by 2030.
- The Turkey market is expected to grow at a CAGR of 12.1% from 2024 to 2030.
- In terms of segment, thin film was the largest revenue generating technology in 2023.
- Crystalline Silicon 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 1,500.8 million |
| Market revenue in 2030 | USD 3,329.1 million |
| Growth rate | 12.1% (CAGR from 2023 to 2030) |
| Largest segment | Thin film |
| Fastest growing segment | Crystalline Silicon |
| 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, Turkey accounted for 0.9% 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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Turkey 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 57.93% in 2023. Horizon Databook has segmented the Turkey solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for solar PV panels in Turkey is expected to increase from 2023 to 2030 owing to growing interest from residential and industrial end users to install solar PV panels. The country is rapidly increasing its installed solar capacity by promoting homeowners to install solar PV panels as well as investing in utility-scale solar energy systems.
In June 2021, the Energy and Natural Resources Department of Turkey announced the construction of its biggest solar plant called the Karapinar Solar Power Plant (SPP) in the Konya province. The solar power plant will have a capacity to generate 1,700 GWh of electricity annually.
The government has been introducing more incentives and grants for promoting solar PV panel installations in the country. For instance, in March 2022, the government announced a new scheme for solar installation to support the agricultural sector. The scheme will provide grants amounting to 40% of the cost of the solar panels.
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Horizon Databook provides a detailed overview of country-level data and insights on the Turkey solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into Turkey solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Turkey solar pv panels market size, by technology, 2018-2030 (US$M)
Turkey Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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