What is the global solar PV panels market size?

The global solar PV panels market size was estimated at USD 170.25 billion in 2023 and is projected to reach USD 287.13 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2030.

How big is the solar panel market?

The solar panel market size was valued at approximately USD 196.5 billion in 2024 and is projected to reach nearly USD 387.2 billion by 2034, registering a CAGR of 8.9% over the forecast period.

How big is the solar panels market in 2022?

The solar panels market is projected to grow from USD 131.37 billion in 2022 to reach USD 282.4 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of ~12.63%. during the forecast period (2024 - 2030). Solar Panels industry size was valued at USD 84.35 billion in 2021.

What is the global solar power market size?

Our premium consulting services are available for an additional fee is designed to help you gain a competitive edge. The global solar power market size was valued at USD 253.69 billion in 2023 and is projected to be worth USD 273 billion in 2024 and reach USD 436.36 billion by 2032, exhibiting a CAGR of 6% during the forecast period.

What is the value of solar panels market in 2025?

The Global Solar Panels Market is estimated to be valued at USD 137.65 Bn in 2025 and is expected to reach USD 308.12 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 12.2% from 2025 to 2032. Key Takeaways of the Solar Panels Market: Monocrystalline solar panels segment is projected to account for 41.6% of the market share in 2025.

What is the market share of solar panels in North America?

North America is projected to contribute significantly to the solar panels market, with a 13.5% share. Market Overview: The solar panels market is experiencing significant growth due to increasing environmental concerns, government incentives, and declining costs of solar technology.