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Asia Pacific On Grid Solar PV Market Analysis

  • Report ID: GMI8871
  • Published Date: Apr 2024
  • Report Format: PDF

Asia Pacific On Grid Solar PV Market Analysis

Based on end-use, the utility on grid solar PV market is projected to surpass USD 56 billion by 2032, on the account of upsurge in advancements of solar PV technologies, including high-efficiency solar panels, energy storage solutions, and digital monitoring systems along with rising electricity prices from conventional sources. Further, ability to offer renewable and low-carbon energy solutions, enabling stakeholders to reduce their carbon footprint and meet sustainability goals will complement the business landscape.


Commercial & industrial on grid solar PV witnessed a market share of over 18% in 2023. Green procurement policies incentivizing investments across solar PV installations coupled with increasing research and development initiatives will strengthen the industry growth. Moreover, ongoing introduction of various roadmaps and plans to achieve cost effectiveness and economies of scale will in turn stimulate the product penetration.


China On Grid Solar PV Market Size, 2022–2032 (USD Billion)

China on grid solar PV market is estimated to reach USD 51 billion by 2032.  Introduction of incentives including feed-in tariffs, tax credits, subsidies, and renewable energy targets in conjunction with investments in grid modernization and smart grid infrastructure have facilitated the integration of solar PV into existing electricity grids, thereby driving the industry statistics. Furthermore, restructuring and revamping of existing infrastructure in line with continuous integration of utility-scale renewable infrastructure across various economies will sway the business trends.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Asia Pacific market size for on-grid solar PV was reached USD 71.5 billion in 2023 and will exhibit a 4% CAGR from 2024 and 2032, attributed to rising energy demands, coupled with efforts to reduce carbon emissions and declining costs of solar technology.

Asia Pacific utility-scale grid solar PV market is anticipated to exceed USD 56 billion by 2032, owing to the increasing focus on large-scale solar projects to meet growing energy demands sustainably in the region.

China on-grid solar PV industry size will register USD 51 billion by 2032, fueled by the massive investments in solar energy infrastructure and its ambitious renewable energy targets.

Prominent Asia Pacific on-grid solar PV market players are Amplus Solar, Canadian Solar, First Solar, Havells India Ltd., Indosolar, JA SOLAR Technology Co., Ltd, JinkoSolar, LONGi, LOOM SOLAR PVT. LTD., Rays Power Infra, RISEN ENERGY Co., LTD, Sunova Solar, Trina Solar among others.

Asia Pacific On Grid Solar PV Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 250
  • Countries covered: 10
  • Pages: 150
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