Press Releases

The report "Photovoltaic Market by Type (Modules, Inverters, and Balance of System), by Technology (Monocrystalline Silicon, Thin Film, Polycrystalline Silicon, and Others), by Grid Type (On-Grid and Off-Grid), by Installation (Ground Mounted, Rooftop, and Others), by Application (Residential, Non-Residential, and Utilities) - Global Forecast to 2030", The global photovoltaic market is anticipated to grow at a 10.5% CAGR during the forecast period. The government’s supportive policies, increased demand for PV systems in commercial and residential applications, decreasing energy storage devices and PV systems’ cost, rising number of PV installations and renewable energy projects, and technological development in solar cell manufacturing will flourish the market growth for the global photovoltaic industry. The global photovoltaic market has experienced tremendous growth. owing to the extensive use of photovoltaics in various applications, including power plants, rural zap, housetops and building coordinated frameworks, etc. Waste disposal systems, charging stations, stop meters, sunlight-powered lights, traffic signs, emergency telephones, remote gatekeeper signals, and posts all use photovoltaic technology. Additionally, it is used to provide electricity for the vehicle engine in the sunlight-based chargers of solar-powered transportation and vehicles.

In May 2022, JinkoSolar contracted to deliver 200 MW of its Tiger Neo PV modules to China General Nuclear Power Group (GCN). The n-type Topcon cells used in the solar panels have an average efficiency of up to 24%. The panels will be used by GCN for a number of projects in Inner Mongolia, China.

Segmentation and Key Players

Browse 63 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on " Photovoltaic Market by Type (Modules, Inverters, and Balance of System), by Technology (Monocrystalline Silicon, Thin Film, Polycrystalline Silicon, and Others), by Grid Type (On-Grid and Off-Grid), by Installation (Ground Mounted, Rooftop, and Others), by Application (Residential, Non-Residential, and Utilities), and Region - Global Forecast to 2030"

By technology, the polycrystalline photovoltaic segment is anticipated to have a high CAGR during the forecast period.

The global photovoltaic market is divided into four technology segments: monocrystalline silicon, thin film, polycrystalline silicon, and others. The polycrystalline photovoltaic segment is anticipated to have a high CAGR during the forecast period owing to economical production cost, supportive tax credit schemes, and simple manufacturing processes. Moreover, it is widely accepted in large-scale solar power projects and federal renewable energy integration projects, thereby propelling the market growth of the segment.

“Asia-Pacific is anticipated to have the largest growth in the Photovoltaic Market during the forecast period.”

Asia-Pacific is anticipated to experience the quickest growth during the projection period owing to decreased cost of solar PV modules and associated systems, supportive government policies will fuel the market development of the photovoltaic industry in the region. Technology acceptance will improve as a result of rising demand for more power production capacity, ongoing international involvement, attracting foreign direct investment, and the setting of capacity quota targets.

Some of the major players in the global Photovoltaic industry include JinkoSolar, LONGi, JA SOLAR Technology Co., Ltd., Trina Solar, Canadian Solar, SHARP CORPORATION, Mitsubishi Electric Corporation, Hanwha Group, First Solar, and Wuxi Suntech Power Co., Ltd.

Global Photovoltaic Market Coverage

Type Insight and Forecast 2025-2030

• Modules
• Inverters
• Balance of System

Technology Insight and Forecast 2025-2030

• Monocrystalline Silicon
• Thin Film
• Polycrystalline Silicon
• Others

Grid Type Insight and Forecast 2025-2030

• On-Grid
• Off-Grid

Installation Insight and Forecast 2025-2030

• Ground Mounted
• Rooftop
• Others

Application Insight and Forecast 2025-2030

• Residential
• Non-Residential
• Utilities

Geographical Segmentation

Photovoltaic Market by Region

North America

• By Type
• By Technology
• By Grid Type
• By Installation
• By Application
• By Country – U.S., Canada, and Mexico

Europe

• By Type
• By Technology
• By Grid Type
• By Installation
• By Application
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Type
• By Technology
• By Grid Type
• By Installation
• By Application
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Type
• By Technology
• By Grid Type
• By Installation
• By Application
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries