Rooftop Solar PV Module Market Size & Share 2025 – 2034
Market Size by Technology (Thin Film, Crystalline Silicon), by Product (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon, Copper Indium Gallium Di-Selenide), by Connectivity, by End Use, & Forecast.
Report ID: GMI5846
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Published Date: January 2025
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Report Format: PDF
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Authors:
Ankit Gupta, Srishti Agarwal
Rooftop Solar PV Module Market Size
The global rooftop solar PV module market size was valued at USD 132.1 billion in 2024 and is estimated to grow at a CAGR of 7.9% from 2025 to 2034. This refers to a solar panel system mounted on the roof of a structure to harness solar energy through photovoltaic technology. Such modules comprise of solar cells that incorporate semiconductor materials like silicon, which capture sunlight and create electric current. These modules are suitable for installation in residential, commercial and industrial structures which allows for generation of renewable energy for self-usage or for feed back to the grid.
Rooftop Solar PV Module Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The increased concern of climate change together with the need to reduce the greenhouse gas emission will further ease the transition towards renewable energy sources, driving the business statistics. The demand for photovoltaic (PV) solar systems coupled with the increasing penetration of more efficient power generation technologies, will strengthen the market growth.
Increased favorable government spending together with new policies that offer incentive for modern energy solutions, in addition to rules that are stringent will increase the product adoption. For instance, the Indonesian government formulated a new regulation through the Ministry of Energy and Mineral Resources to encourage the use of rooftop solar. This regulation provides for long periods for unused credit offset, integration of information online, trading of carbon credits and PV systems on the rooftop that are based on digital means.
Rooftop Solar PV Module Market Trends
The significant rise in traditional electricity costs will lead to less dependence on grid oriented power and hence a higher product adoption rate. Increased concern of global warming and climate change alongside emission reduction needs with usage of clean energy will aid the industry growth. Additionally, the growing use of rooftop solar systems and smart grid technologies, improved energy and efficiency management will increase the product penetration.
Rooftop Solar PV Module Market Analysis
Based on product, the amorphous silicon module will cross over USD 6.3 billion by 2034. These modules are thinner and lighter than typical crystalline silicon versions, hence more flexible allowing them to be used in a wide variety of structures. Additionally, these systems not only provide decentralized energy solutions, but they also enhance energy resilience during natural disasters and power outages. The industry growth is fueled by the ability to supply electricity generated on-site during such situations, constituting a favorable business scenario.
Based on technology, the thin film segment of the rooftop solar PV module market is anticipated to grow at over 11% through 2034. Growing requirement for more lightweight and adaptable solar panel technology, which is quite easy to use and install on roofs will surge the product demand. This further allows the systems to install on roofs with unusual shapes, for instance, curved roofs that cannot be installed with conventional panels. Furthermore, the recent improvements in thin film technology aiming at increasing their energy conversion efficiency together with enhanced material will support the business outlook.
The U.S. rooftop solar PV module market is anticipated to reach more than USD 21.5 billion by 2034. Growing government incentives for increasing the adoption of rooftop solar pv including the Investment Tax Credit (ITC) which provides a 30% tax reduction on the installation of solar systems will support the market expansion. Increased energy security concerns due to supply chain issues and natural disasters, will increase consumers’ requirement for rooftop solar adaptability and durability.
In Europe, there are ongoing efforts in research and development to improve the energy output and cut down carbon emissions will promote the product adoption. For instance, in March 2023, the European Parliament ordered all new homes to be equipped with solar rooftop systems by 2028, with residential buildings being refurbished by 2032. Moreover, increasing effort towards decarbonization will make the use of rooftop solar as an integral way of achieving these objectives resulting in market growth.
Rooftop Solar PV Module Market Share
Key players are forming partnerships with area distributors, contractors and installation firms in order to increase their coverage. Many players are changing their business models towards being customer-centric, such as through financing, maintenance services or energy-as-a-service offerings. This helps lower the initial investment amounts for customers and ties them to the brand for a long period of time. Also, companies are engaging in regional expansion and moving to new breeding grounds that have favorable conditions for the solar market in order to widen their reach.
Rooftop Solar PV Module Market Companies
Eminent players operating in the rooftop solar PV module industry are:
Rooftop Solar PV Module Industry News
This rooftop solar PV module market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Billion & MW” from 2021 to 2034, for the following segments:
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Market, By Technology
Market, By Product
Market, By Connectivity
Market, By End Use
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →