What is the market size for the solar panels?

The Market is expected to grow by $ 60.1 bn in 2025-2029. <a href='https://www.technavio.com/report/solar-panels-market-industry-analysis'>Read More</a>

What is the CAGR for the solar panels?

8.2% CAGR with $ 60.1 bn Momentum. <a href='https://www.technavio.com/report/solar-panels-market-industry-analysis'>Read More</a>

What is the growth rate of the Solar Panels market?

8.2% is the estimation year on year growth rate. <a href='https://www.technavio.com/report/solar-panels-market-industry-analysis'>Read More</a>

Which region held the largest market share in the Solar Panels market?

APAC with 39% of the market growth. <a href='https://www.technavio.com/report/solar-panels-market-industry-analysis'>Read More</a>

Who are the prominent players in the Solar Panels market?

Adani Group, Antec Solar GmbH, Canadian Solar Inc., First Solar Inc., Flisom AG, Hanergy Thin Film Power Group Ltd., JA Solar Technology Co. Ltd., Jiangsu .... <a href='https://www.technavio.com/report/solar-panels-market-industry-analysis'>Read More</a>

Solar Panels Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, China, Japan, Germany, India, UK, South Korea, France, Italy, Canada - Size and Forecast 2025-2029

Published: Mar 2025
Pages: 229
SKU: IRTNTR70592

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Solar Panels Market Size 2025-2029

The solar panels market size is forecast to increase by USD 60.1 billion, at a CAGR of 8.2% between 2024 and 2029.

The market is witnessing significant growth, driven by increasing investments in the renewable energy sector. This trend is fueled by governments and businesses worldwide seeking to reduce carbon emissions and promote sustainable energy solutions. Another key driver is the continuous advancements in thin-film solar photovoltaic (PV) modules, making solar energy more cost-effective and accessible. However, the intermittent nature of solar power poses a significant challenge. Solar energy production depends on sunlight availability, which can be unpredictable. This variability necessitates efficient energy storage solutions and smart grid management systems to ensure a consistent energy supply.
Companies in the market must focus on developing innovative technologies to address this challenge and capitalize on the growing demand for renewable energy. By investing in research and development, collaborating with energy storage providers, and optimizing solar panel designs, companies can effectively navigate this market landscape and seize opportunities for growth.

What will be the Size of the Solar Panels Market during the forecast period?

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by End-user
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Connectivity
- Executive Summary - Chart on Market Segmentation by Technology
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation

2.3 Factors of disruption
- Overview on factors of disruption

2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market

3.2 Market characteristics
- Market characteristics analysis

3.3 Value chain analysis
- Value chain analysis

4 Market Sizing

4.1 Market definition
- Offerings of companies included in the market definition

4.2 Market segment analysis
- Market segments

4.3 Market size 2024

4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ billion)
- Data Table on Global - Market size and forecast 2024-2029 ($ billion)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

5.1 Global Solar Panels Market 2019 - 2023
- Historic Market Size - Data Table on Global Solar Panels Market 2019 - 2023 ($ billion)

5.2 End-user segment analysis 2019 - 2023
- Historic Market Size - End-user Segment 2019 - 2023 ($ billion)

5.3 Type segment analysis 2019 - 2023
- Historic Market Size - Type Segment 2019 - 2023 ($ billion)

5.4 Connectivity segment analysis 2019 - 2023
- Historic Market Size - Connectivity Segment 2019 - 2023 ($ billion)

5.5 Technology segment analysis 2019 - 2023
- Historic Market Size - Technology Segment 2019 - 2023 ($ billion)

5.6 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ billion)

5.7 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ billion)

6 Qualitative Analysis

6.1 Impact of AI in global solar panels market

7 Five Forces Analysis

7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029

7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029

7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029

7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029

7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029

7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029

7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029

8 Market Segmentation by End-user

8.1 Market segments
- Chart on End-user - Market share 2024-2029 (%)
- Data Table on End-user - Market share 2024-2029 (%)

8.2 Comparison by End-user
- Chart on Comparison by End-user
- Data Table on Comparison by End-user

8.3 Power utilities - Market size and forecast 2024-2029
- Chart on Power utilities - Market size and forecast 2024-2029 ($ billion)
- Data Table on Power utilities - Market size and forecast 2024-2029 ($ billion)
- Chart on Power utilities - Year-over-year growth 2024-2029 (%)
- Data Table on Power utilities - Year-over-year growth 2024-2029 (%)

8.4 Commercial - Market size and forecast 2024-2029
- Chart on Commercial - Market size and forecast 2024-2029 ($ billion)
- Data Table on Commercial - Market size and forecast 2024-2029 ($ billion)
- Chart on Commercial - Year-over-year growth 2024-2029 (%)
- Data Table on Commercial - Year-over-year growth 2024-2029 (%)

8.5 Residential - Market size and forecast 2024-2029
- Chart on Residential - Market size and forecast 2024-2029 ($ billion)
- Data Table on Residential - Market size and forecast 2024-2029 ($ billion)
- Chart on Residential - Year-over-year growth 2024-2029 (%)
- Data Table on Residential - Year-over-year growth 2024-2029 (%)

8.6 Market opportunity by End-user
- Market opportunity by End-user ($ billion)
- Data Table on Market opportunity by End-user ($ billion)

9 Market Segmentation by Type

9.1 Market segments
- Chart on Type - Market share 2024-2029 (%)
- Data Table on Type - Market share 2024-2029 (%)

9.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type

9.3 Crystalline panel - Market size and forecast 2024-2029
- Chart on Crystalline panel - Market size and forecast 2024-2029 ($ billion)
- Data Table on Crystalline panel - Market size and forecast 2024-2029 ($ billion)
- Chart on Crystalline panel - Year-over-year growth 2024-2029 (%)
- Data Table on Crystalline panel - Year-over-year growth 2024-2029 (%)

9.4 Thin-film panel - Market size and forecast 2024-2029
- Chart on Thin-film panel - Market size and forecast 2024-2029 ($ billion)
- Data Table on Thin-film panel - Market size and forecast 2024-2029 ($ billion)
- Chart on Thin-film panel - Year-over-year growth 2024-2029 (%)
- Data Table on Thin-film panel - Year-over-year growth 2024-2029 (%)

9.5 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)

10 Market Segmentation by Connectivity

10.1 Market segments
- Chart on Connectivity - Market share 2024-2029 (%)
- Data Table on Connectivity - Market share 2024-2029 (%)

10.2 Comparison by Connectivity
- Chart on Comparison by Connectivity
- Data Table on Comparison by Connectivity

10.3 On-grid - Market size and forecast 2024-2029
- Chart on On-grid - Market size and forecast 2024-2029 ($ billion)
- Data Table on On-grid - Market size and forecast 2024-2029 ($ billion)
- Chart on On-grid - Year-over-year growth 2024-2029 (%)
- Data Table on On-grid - Year-over-year growth 2024-2029 (%)

10.4 Off-grid - Market size and forecast 2024-2029
- Chart on Off-grid - Market size and forecast 2024-2029 ($ billion)
- Data Table on Off-grid - Market size and forecast 2024-2029 ($ billion)
- Chart on Off-grid - Year-over-year growth 2024-2029 (%)
- Data Table on Off-grid - Year-over-year growth 2024-2029 (%)

10.5 Market opportunity by Connectivity
- Market opportunity by Connectivity ($ billion)
- Data Table on Market opportunity by Connectivity ($ billion)

11 Market Segmentation by Technology

11.1 Market segments
- Chart on Technology - Market share 2024-2029 (%)
- Data Table on Technology - Market share 2024-2029 (%)

11.2 Comparison by Technology
- Chart on Comparison by Technology
- Data Table on Comparison by Technology

11.3 Solar PV - Market size and forecast 2024-2029
- Chart on Solar PV - Market size and forecast 2024-2029 ($ billion)
- Data Table on Solar PV - Market size and forecast 2024-2029 ($ billion)
- Chart on Solar PV - Year-over-year growth 2024-2029 (%)
- Data Table on Solar PV - Year-over-year growth 2024-2029 (%)

11.4 Concentrated solar power (CSP) - Market size and forecast 2024-2029
- Chart on Concentrated solar power (CSP) - Market size and forecast 2024-2029 ($ billion)
- Data Table on Concentrated solar power (CSP) - Market size and forecast 2024-2029 ($ billion)
- Chart on Concentrated solar power (CSP) - Year-over-year growth 2024-2029 (%)
- Data Table on Concentrated solar power (CSP) - Year-over-year growth 2024-2029 (%)

11.5 Market opportunity by Technology
- Market opportunity by Technology ($ billion)
- Data Table on Market opportunity by Technology ($ billion)

12 Customer Landscape

12.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

13 Geographic Landscape

13.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)

13.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison

13.3 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ billion)
- Data Table on APAC - Market size and forecast 2024-2029 ($ billion)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)

13.4 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ billion)
- Data Table on Europe - Market size and forecast 2024-2029 ($ billion)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)

13.5 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ billion)
- Data Table on North America - Market size and forecast 2024-2029 ($ billion)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)

13.6 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)

13.7 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ billion)
- Data Table on South America - Market size and forecast 2024-2029 ($ billion)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)

13.8 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ billion)
- Data Table on US - Market size and forecast 2024-2029 ($ billion)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)

13.9 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ billion)
- Data Table on China - Market size and forecast 2024-2029 ($ billion)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)

13.10 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ billion)
- Data Table on Japan - Market size and forecast 2024-2029 ($ billion)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)

13.11 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ billion)
- Data Table on Germany - Market size and forecast 2024-2029 ($ billion)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)

13.12 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ billion)
- Data Table on India - Market size and forecast 2024-2029 ($ billion)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)

13.13 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ billion)
- Data Table on UK - Market size and forecast 2024-2029 ($ billion)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)

13.14 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ billion)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ billion)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)

13.15 France - Market size and forecast 2024-2029
- Chart on France - Market size and forecast 2024-2029 ($ billion)
- Data Table on France - Market size and forecast 2024-2029 ($ billion)
- Chart on France - Year-over-year growth 2024-2029 (%)
- Data Table on France - Year-over-year growth 2024-2029 (%)

13.16 Italy - Market size and forecast 2024-2029
- Chart on Italy - Market size and forecast 2024-2029 ($ billion)
- Data Table on Italy - Market size and forecast 2024-2029 ($ billion)
- Chart on Italy - Year-over-year growth 2024-2029 (%)
- Data Table on Italy - Year-over-year growth 2024-2029 (%)

13.17 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ billion)
- Data Table on Canada - Market size and forecast 2024-2029 ($ billion)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)

13.18 Market opportunity by geography
- Market opportunity by geography ($ billion)
- Data Tables on Market opportunity by geography ($ billion)

14 Drivers, Challenges, and Opportunity/Restraints

14.1 Market drivers

14.2 Market challenges

14.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029

14.4 Market opportunities/restraints

15 Competitive Landscape

15.1 Overview

15.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation

15.3 Landscape disruption
- Overview on factors of disruption

15.4 Industry risks
- Impact of key risks on business

16 Competitive Analysis

16.1 Companies profiled
- Companies covered

16.2 Company ranking index
- Company ranking index

16.3 Market positioning of companies
- Matrix on companies position and classification

16.4 Adani Group
- Adani Group - Overview
- Adani Group - Product / Service
- Adani Group - Key news
- Adani Group - Key offerings
- SWOT

16.5 Antec Solar GmbH
- Antec Solar GmbH - Overview
- Antec Solar GmbH - Product / Service
- Antec Solar GmbH - Key offerings
- SWOT

16.6 Canadian Solar Inc.
- Canadian Solar Inc. - Overview
- Canadian Solar Inc. - Business segments
- Canadian Solar Inc. - Key news
- Canadian Solar Inc. - Key offerings
- Canadian Solar Inc. - Segment focus
- SWOT

16.7 First Solar Inc.
- First Solar Inc. - Overview
- First Solar Inc. - Business segments
- First Solar Inc. - Key news
- First Solar Inc. - Key offerings
- First Solar Inc. - Segment focus
- SWOT

16.8 Flisom AG
- Flisom AG - Overview
- Flisom AG - Product / Service
- Flisom AG - Key news
- Flisom AG - Key offerings
- SWOT

16.9 Hanergy Thin Film Power Group Ltd.
- Hanergy Thin Film Power Group Ltd. - Overview
- Hanergy Thin Film Power Group Ltd. - Product / Service
- Hanergy Thin Film Power Group Ltd. - Key offerings
- SWOT

16.10 JA Solar Technology Co. Ltd.
- JA Solar Technology Co. Ltd. - Overview
- JA Solar Technology Co. Ltd. - Product / Service
- JA Solar Technology Co. Ltd. - Key news
- JA Solar Technology Co. Ltd. - Key offerings
- SWOT

16.11 JinkoSolar Holding Co. Ltd.
- JinkoSolar Holding Co. Ltd. - Overview
- JinkoSolar Holding Co. Ltd. - Product / Service
- JinkoSolar Holding Co. Ltd. - Key news
- JinkoSolar Holding Co. Ltd. - Key offerings
- SWOT

16.12 Kaneka Corp.
- Kaneka Corp. - Overview
- Kaneka Corp. - Business segments
- Kaneka Corp. - Key news
- Kaneka Corp. - Key offerings
- Kaneka Corp. - Segment focus
- SWOT

16.13 LONGi Green Energy Technology Co. Ltd.
- LONGi Green Energy Technology Co. Ltd. - Overview
- LONGi Green Energy Technology Co. Ltd. - Product / Service
- LONGi Green Energy Technology Co. Ltd. - Key news
- LONGi Green Energy Technology Co. Ltd. - Key offerings
- SWOT

16.14 Risen Energy Co. Ltd.
- Risen Energy Co. Ltd. - Overview
- Risen Energy Co. Ltd. - Product / Service
- Risen Energy Co. Ltd. - Key news
- Risen Energy Co. Ltd. - Key offerings
- SWOT

16.15 Shell plc
- Shell plc - Overview
- Shell plc - Business segments
- Shell plc - Key news
- Shell plc - Key offerings
- Shell plc - Segment focus
- SWOT

16.16 Trina Solar Co. Ltd.
- Trina Solar Co. Ltd. - Overview
- Trina Solar Co. Ltd. - Product / Service
- Trina Solar Co. Ltd. - Key news
- Trina Solar Co. Ltd. - Key offerings
- SWOT

16.17 Wuxi Suntech Power Co. Ltd.
- Wuxi Suntech Power Co. Ltd. - Overview
- Wuxi Suntech Power Co. Ltd. - Product / Service
- Wuxi Suntech Power Co. Ltd. - Key news
- Wuxi Suntech Power Co. Ltd. - Key offerings
- SWOT

16.18 Yingli Solar
- Yingli Solar - Overview
- Yingli Solar - Product / Service
- Yingli Solar - Key news
- Yingli Solar - Key offerings
- SWOT

17 Appendix

17.1 Scope of the report

17.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist

17.3 Currency conversion rates for US$
- Currency conversion rates for US$

17.4 Research methodology
- Research methodology

17.5 Data procurement
- Information sources

17.6 Data validation
- Data validation

17.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing

17.8 Data synthesis
- Data synthesis

17.9 360 degree market analysis
- 360 degree market analysis

17.10 List of abbreviations
- List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES