What is the global market size of Photovoltaic Modules Market?

Photovoltaic Modules Market size was valued at USD 36.30 billion in 2021 and is poised to grow from USD 40.55 billion in 2022 to USD 98.27 billion by 2030, at a CAGR of 11.7% during the forecast period (2023-2030).

Who are the key vendors in the Global Photovoltaic Modules Market?

The Global Photovoltaic Modules Market is highly competitive, with several large players dominating the market. Some of the leading companies are actively engaged in research and development to enhance the efficiency and performance of their products and gain a competitive edge in the market. They are also adopting various strategies, such as mergers and acquisitions, collaborations, and partnerships, to expand their market presence and increase their customer base. Moreover, these companies are also investing heavily in expanding their production capacity and increasing their geographic footprint to cater to the growing demand for photovoltaic modules worldwide. 'JinkoSolar Holding Co., Ltd. (China)', 'Trina Solar Co., Ltd. (China)', 'Canadian Solar Inc. (Canada)', 'Hanwha Q CELLS Co., Ltd. (South Korea)', 'JA Solar Holdings Co., Ltd. (China)', 'First Solar, Inc. (US)', 'Yingli Green Energy Holding Company Limited (China)', 'LONGi Green Energy Technology Co., Ltd. (China)', 'Suntech Power Holdings Co., Ltd. (China)', 'Shunfeng International Clean Energy Limited (China)', 'Renesola Ltd. (China)', 'GCL System Integration Technology Co., Ltd. (China)', 'LG Electronics Inc. (South Korea)', 'Mitsubishi Electric Corporation (Japan)', 'Sharp Corporation (Japan)', 'Kyocera Corporation (Japan)', 'SolarWorld AG (Germany)', 'SunPower Corporation (US)', 'REC Group (Norway)', 'AU Optronics Corporation (Taiwan)'

Photovoltaic Modules Market Companies

Photovoltaic Modules Market Competitive Landscape

Photovoltaic Modules Market Top Player’s Company Profiles

JinkoSolar Holding Co., Ltd. (China)

Trina Solar Co., Ltd. (China)

Canadian Solar Inc. (Canada)

Hanwha Q CELLS Co., Ltd. (South Korea)

JA Solar Holdings Co., Ltd. (China)

First Solar, Inc. (US)

Yingli Green Energy Holding Company Limited (China)

LONGi Green Energy Technology Co., Ltd. (China)

Suntech Power Holdings Co., Ltd. (China)

Shunfeng International Clean Energy Limited (China)

Renesola Ltd. (China)

GCL System Integration Technology Co., Ltd. (China)

LG Electronics Inc. (South Korea)

Mitsubishi Electric Corporation (Japan)

Sharp Corporation (Japan)

Kyocera Corporation (Japan)

SolarWorld AG (Germany)

SunPower Corporation (US)

REC Group (Norway)

AU Optronics Corporation (Taiwan)

FAQs

Photovoltaic Modules Market size was valued at USD 196.14 Billion in 2024 and is poised to grow from USD 210.07 Billion in 2025 to USD 363.64 Billion by 2033, growing at a CAGR of 7.1% during the forecast period (2026–2033).

The Global Photovoltaic Modules Market is highly competitive, with several large players dominating the market. Some of the leading companies are actively engaged in research and development to enhance the efficiency and performance of their products and gain a competitive edge in the market. They are also adopting various strategies, such as mergers and acquisitions, collaborations, and partnerships, to expand their market presence and increase their customer base. Moreover, these companies are also investing heavily in expanding their production capacity and increasing their geographic footprint to cater to the growing demand for photovoltaic modules worldwide. 'LONGi Green Energy Technology Co., Ltd. (China)', 'JinkoSolar Holding Co., Ltd. (China) ', 'Trina Solar Limited (China) ', 'JA Solar Technology Co., Ltd. (China) ', 'Canadian Solar Inc. (Canada) ', 'Risen Energy Co., Ltd. (China) ', 'Chint Solar (China) ', 'Tongwei Co., Ltd. (China) ', 'DAS Solar (China) ', 'GCL System Integration Technology Co., Ltd. (China) ', 'First Solar, Inc. (USA) ', 'Hanwha Q CELLS Co., Ltd. (South Korea) ', 'SunPower Corporation (USA) ', 'Yingli Green Energy Holding Company Limited (China) ', 'Seraphim Solar System Co., Ltd. (China) ', 'Suntech Power Holdings Co., Ltd. (China) ', 'Astronergy (China) ', 'Talesun Solar (China) ', 'LG Electronics Inc. (South Korea)'

One of the primary drivers of the photovoltaic modules market is favorable government initiatives and policies promoting the adoption of renewable energy sources. For instance, in 2020, the European Union announced its goal to become carbon neutral by 2050, and the European Green Deal aims to increase the share of renewable energy in the EU's energy mix to 32% by 2030. Similarly, the Indian government announced the National Solar Mission, which aims to achieve 100 GW of solar power capacity by 2022. Such government initiatives are expected to drive the adoption of photovoltaic modules, thereby fueling the growth of the market.

Energy Storage: The integration of energy storage systems with photovoltaic modules is a growing trend in the market. The energy storage systems enable the storage of excess energy generated by the modules during the day and use it during the night or during peak demand hours, thereby reducing the reliance on the grid. For instance, Tesla's Powerwall is a home battery storage system that stores excess energy generated by photovoltaic modules and provides backup power during outages.

Asia Pacific dominated the global market. The growth of this region is attributed to the increasing demand for clean energy and the favorable government policies and initiatives to promote the adoption of solar energy in countries such as China, India, and Japan. For instance, China's National Energy Administration aims to install 60 GW of solar power by 2024, and India plans to achieve a target of 100 GW of solar power by 2024. Additionally, the declining cost of solar energy and the growing investment in renewable energy projects are further driving the growth of the photovoltaic modules market in the region.

Photovoltaic Modules Market

Report ID: SQMIG10B2059

Top Photovoltaic Modules Companies

Photovoltaic Modules Market Competitive Landscape

FAQs

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Top Photovoltaic Modules Companies

Photovoltaic Modules Market Competitive Landscape

FAQs

What is the global market size of Photovoltaic Modules Market?

Who are the key vendors in the Photovoltaic Modules Market?

What is the key driver of Photovoltaic Modules Market?

What is the key market trend for Photovoltaic Modules Market?

Which region accounted for the largest share in Photovoltaic Modules Market?

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