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Solar PV Module Market Share

Report ID: GMI1563
Published Date: Jul 2024
Report Format: PDF

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Solar PV Module Market Share

Eminent players are focusing on investing heavily in research and development to improve the efficiency, durability, and cost-effectiveness of their solar PV modules. Growing investments in developing next-generation technologies such as bifacial modules, PERC (Passivated Emitter and Rear Cell) technology, and heterojunction cells, which offer higher efficiencies and better performance will contribute to the business scenario. Some key players adopt vertical integration strategies to control the entire value chain, from raw material procurement to module manufacturing and deployment. This approach helps reduce costs, improve quality control, and ensure a stable supply chain.

Solar PV Module Market Companies

Eminent players operating in the Solar PV Module industry are:

CsunSolarTech
Canadian Solar
EMMVEE SOLAR
First Solar
GCL-SI
Hanwha Group
Indosolar
Jinko Solar
JA SOLAR Technology Co.Ltd.
LONGi
RENESOLA
RISEN ENERGY Co. LTD
REC Solar Holdings AS
Shemzhen Shin Solar Co.Ltd
SOLAR FRONTIER K.K.
SunPower Corporation
Su-vastika Systems Private Limited
The Solaria Corporation
Trina Solar
VIKRAM SOLAR LTD
Yingli Solar

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of solar PV module was reached USD 280.54 billion in 2023 and will record 8.2% CAGR up to 2032, owing to rising need to capture sunlight and convert it into direct current (DC) electricity.

Solar PV module market size from the on grid segment is anticipated to exceed USD 545 billion by 2032, on account of continuous improvements in PV module efficiency, such as the development of monocrystalline and bifacial panels.

Demand for ground mounted solar PV modules will witness over 8% CAGR through 2032, due to the development of high-efficiency PV modules, such as monocrystalline and bifacial panels.

Asia Pacific solar PV module market is expected to reach over USD 354.69 billion by 2032, driven by rapid economic growth and urbanization along with increasing energy demand, particularly in countries such as China, India, and Southeast Asia.