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Solar PV Module Market Size

  • Report ID: GMI1563
  • Published Date: May 2023
  • Report Format: PDF

Solar PV Module Market Size

Solar PV Module Market size valued at USD 191.8 million in 2023 and is projected to expand at 5% CAGR between 2024 and 2032. A solar PV module, also known as a solar panel or photovoltaic module, is a device that converts sunlight directly into electrical energy using the photovoltaic effect.


Solar PV Module Market

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Ongoing technology advancements, increasing consumer and regulatory preferences for clean energy sources, and lower solar energy prices in line with growing funding will propel the business scenario. Furthermore, favorable regulations and incentives such as auctions, tariffs, and tax exemptions will fuel the industry outlook.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market valuation of solar PV module was valued at USD 191.8 million in 2023 and will record more than USD 295.2 million by 2032, says this GMI report.

Thin film solar PV module market is anticipated to record around 6.5% CAGR from 2023 to 2032 on account of its highly reliable, low maintenance requirements, and long lifespan.

Monocrystalline solar PV module market size crossed USD 80 billion in 2022 as eminent players are investing in the development of their products to enhance their presence across the market.

LG Electronics, Yingli Solar, Shunfeng International Clean Energy Co., Ltd, RENESOLA, EMMVEE SOLAR, SHENZHEN SHINE SOLAR CO.,LTD, Motech Industries Inc., SOLAR FRONTIER K.K., and SunPower Corporation.

Solar PV Module Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 24
  • Tables & Figures: 1916
  • Countries covered: 39
  • Pages: 500
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