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    Solar Panels Market

    ID: 2346
    143 Pages
    Research Team
    08/2020

    Solar Panels Market Research Report Information By Technology (Solar PV and Concentrated Solar Power), By Module Type (Thin Film and Crystalline), By Grid Connectivity (On-Grid and Off-Grid), By Application (Residential, Commercial and Industrial), and By Region – Global Industry Size, Share, Growth, Trends and Forecast To 2030

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    Market Summary

    Research Methodology on Solar Panels Market


    Abstract


    The purpose of this research is to study the current market trends of solar panels and their related products. The research scientifically examines the market structure, size and growth of the various segments in the solar power market. This research also provides an in-depth analysis of the various participants in the solar power industry, as well as their key strategies, market segmentation and environmental impact. The research aims to provide a comprehensive overview of the solar power market and to help industry players make informed decisions regarding their investment and product strategies.


    Introduction


    Solar energy is a renewable and clean energy source that has made significant gains in the global energy market in recent years. Due to its cost-effectiveness, reliability, and scalability, solar energy market has become popular with energy producers, policymakers, and consumers alike. Solar energy is expected to meet increasingly more of the global energy needs in the coming years, owing to supportive government policies and the falling cost of solar panels.


    The solar power market consists of various segments such as photovoltaic (PV) panels, thin-film solar cells, solar farms, and solar modules.


    The purpose of this research is to provide a comprehensive overview of the current market trends and landscape of the solar power market. The research investigates the key market segments, their structure, size and growth rate, and identifies emerging trends and industry participants. Additionally, the research provides detailed insights into the different strategies used by industry players and the associated environmental implications.


    Methodology


    Data Collection


    The research employs a qualitative and quantitative approach to data collection. Qualitative methods such as interviews, focus group discussions, and field studies are used to obtain an in-depth understanding of the research topic, as well as the various views and opinions of industry players. Additionally, quantitative methods such as surveys, questionnaires, and statistical analysis are used to analyze the larger body of data.


    The research is based primarily on secondary data and information gathered from the following sources:


    -Government records & documents


    -Industry reports & periodicals


    -Market research reports


    -Online databases


    -Academic & industry journals


    Data Analysis


    The collected data is analyzed using a combination of techniques, including statistical methods and econometric tools to identify the key market trends, competitive dynamics, and customer preferences. The collected data is also analyzed using descriptive and inferential techniques such as Exploratory Data Analysis (EDA), estimation models, and clustering techniques to provide an in-depth analysis of the market structure. Additionally, the research employs SWOT analysis to identify the key strengths, opportunities, weaknesses, and threats of the various market participants.


    Ethics and Validity


    The research strictly adheres to all ethical principles of conducting research, and the collected data will be treated with the utmost confidentiality. Validity will be ensured throughout the research process by employing scientific methods of analysis and cross-validating the collected data. Every effort will be made to ensure the accuracy and reliability of the collected data and the results obtained from the analysis.


    Expected Results


    The research is expected to provide an in-depth understanding of the solar power market and its related segments. It also provides insights into the current trends, future growth prospects, and key strategic decisions of industry participants. Additionally, the research examines the environmental implications of the various strategies employed by industry players.


    Conclusion


    The research is intended to provide a comprehensive overview of the current market trends and dynamics of the solar power market and to help industry players gain a competitive edge in the market. The methodology outlined in this paper will help ensure a high-quality research output and provide value to industry participants.

    Market Size & Forecast

    Attribute/Metric Details
    Market Size 2021 USD 84.35 Billion
    Market Size 2022 USD 131.37 billion
    Market Size 2030 USD 282.4 Billion
    Compound Annual Growth Rate (CAGR) ~12.63% (2024-2030)
    Base Year 2023
    Forecast Period 2024-2030
    Historical Data 2018 & 2022
    Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments Covered Technology, Module Type, Grid Connectivity, Application, and Region
    Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
    Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled Trina Solar Limited (China), Canadian Solar Inc. (Canada), Jinko Solar Holding Co. Ltd. (China), JA Solar Holdings Co. Ltd. (China), Hanwha Q CELLS Co. Ltd. (South Korea)
    Key Market Opportunities Solar panel installation in remote areas
    Key Market Dynamics One of the key trends impacting the market's growth is floating solar PV plants Increase in investments in the renewable energy industry

    Major Players

    Solar Panels Market Segmentation

    Solar Panels Technology Outlook (USD Billion, 2024-2030)

    • Solar PV

    • Concentrated Solar Power

    Solar Panels Module Type Outlook (USD Billion, 2024-2030)

    • Thin Film

    • Crystalline

    Solar Panels Grid Connectivity Outlook (USD Billion, 2024-2030)

    • On-Grid

    • Off-Grid

    Solar Panels Application Outlook (USD Billion, 2024-2030)

    • Residential

    • Commercial

    • Industrial

    Solar Panels Regional Outlook (USD Billion, 2024-2030)

    • North America Outlook (USD Billion, 2024-2030)

      • North America Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • North America Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • North America Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • North America Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • US Outlook (USD Billion, 2024-2030)

      • US Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • US Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • US Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • US Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • CANADA Outlook (USD Billion, 2024-2030)

      • CANADA Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • CANADA Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • CANADA Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • CANADA Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

    • Europe Outlook (USD Billion, 2024-2030)

      • Europe Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Europe Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Europe Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Europe Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • Germany Outlook (USD Billion, 2024-2030)

      • Germany Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Germany Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Germany Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Germany Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • France Outlook (USD Billion, 2024-2030)

      • France Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • France Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • France Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • France Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • UK Outlook (USD Billion, 2024-2030)

      • UK Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • UK Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • UK Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • UK Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • ITALY Outlook (USD Billion, 2024-2030)

      • ITALY Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • ITALY Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • ITALY Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • ITALY Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • SPAIN Outlook (USD Billion, 2024-2030)

      • Spain Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Spain Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Spain Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Spain Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • Rest Of Europe Outlook (USD Billion, 2024-2030)

      • Rest Of Europe Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • REST OF EUROPE Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • REST OF EUROPE Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • REST OF EUROPE Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

    • Asia-Pacific Outlook (USD Billion, 2024-2030)

      • Asia-Pacific Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Asia-Pacific Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Asia-Pacific Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Asia-Pacific Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • China Outlook (USD Billion, 2024-2030)

      • China Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • China Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • China Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • China Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • Japan Outlook (USD Billion, 2024-2030)

      • Japan Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Japan Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Japan Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Japan Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • India Outlook (USD Billion, 2024-2030)

      • India Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • India Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • India Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • India Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • Australia Outlook (USD Billion, 2024-2030)

      • Australia Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Australia Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Australia Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Australia Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • Rest of Asia-Pacific Outlook (USD Billion, 2024-2030)

      • Rest of Asia-Pacific Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Rest of Asia-Pacific Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Rest of Asia-Pacific Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Rest of Asia-Pacific Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

    • Rest of the World Outlook (USD Billion, 2024-2030)

      • Rest of the World Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Rest of the World Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Rest of the World Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Rest of the World Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • Middle East Outlook (USD Billion, 2024-2030)

      • Middle East Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Middle East Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Middle East Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Middle East Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • Africa Outlook (USD Billion, 2024-2030)

      • Africa Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Africa Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Africa Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Africa Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

      • Latin America Outlook (USD Billion, 2024-2030)

      • Latin America Solar Panels by Technology

        • Solar PV

        • Concentrated Solar Power

      • Latin America Solar Panels by Module Type

        • Thin Film

        • Crystalline

      • Latin America Solar Panels by Grid Connectivity

        • On-Grid

        • Off-Grid

      • Latin America Solar Panels by Application

        • Residential

        • Commercial

        • Industrial

    Market Trends

    Global Solar Panels Market Overview:

    The solar panels market is projected to grow from USD 131.37 billion in 2022 to reach USD 282.4 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of ~12.63%. during the forecast period (2024 - 2030). Solar Panels industry size was valued at USD 84.35 billion in 2021. Increased environmental pollution, falling prices for materials like silver and polysilicon, and incentives and tax breaks offered by governments throughout the world for the installation of PV panels are the main primary market drivers for expansion.

    Solar Panels Market Overview

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    PV Panels Market Trends

        • Rising investments in renewable energy sector to propel the market growth

    One of the key factors influencing the growth of the solar panel market is the rising investments in the field of renewable energy. Investments in renewable energy have grown globally as a result of their competitive cost of production and minimal carbon emissions. For instance, $14.5 billion was invested in India's renewable energy sector between April and December 2022. More than half of the yearly energy needs of many European nations, including ...

    Market Segment Insights

    Smartphone Sensors Smartphone Type Insights

    The Smartphone Sensors market segmentation, based on smartphone type, includes standard smartphone, rugged smartphone, smartwatches, and other wearable. The standard smartphone segment dominated the market, accounting for the maximum market revenue. A smartphone is a mobile phone with a built-in computer and advanced features, such as web browsing and operating system, which are not associated with its counterpart. The rising mobile internet use, rising disposable income in developing countries, and high ownership of premium design smartphones are a few factors that are anticipated to grow smartphone sales. Smartphones are helped by a mobile operating system that offers advanced computing facilities. A smartphone can also work as a digital media player for uploading photos, videos, and music through a single interface.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035
    Get detailed insights about Solar Panels Market

    Smartphone Sensors Manufacturer Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Application Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Regional Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035
    Get detailed insights about Smartphone Sensors Market

    Smartphone Sensors Price Insights

    The Smartphone Sensors market segmentation, based on price, includes USD 300 to USD 500, USD 100 to USD 300, above USD 500, and under USD 100. The USD 300 to USD 500 segment dominated the market revenue in the projected period. Most smartphones sold in medium-end devices have a sensor within this range. For instance: Nubia launched a new flagship Android device powered by the latest Snapdragon 8Gen 2CPU. The OEM has also specified that this gadget, which peculiarly seems to go by the name Z50 even though its processor was the z40 Pro, will compete with the Xiaomi 13 and iQOO11 series with cutting-edge LPDDR5X RAM and storage with the most recent UFS 4.0 spec.

    Get more detailed insights about Solar Panels Market

    Key Players and Competitive Insights

    Leading market players are investing heavily in research and development to expand their product lines, which will help the Smartphone Sensors market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and growing market climate, the Smartphone Sensors industry must offer cost-effective items.

    Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Smartphone Sensors industry to benefit clients and increase the market sector. In recent years, the Smartphone Sensors industry has offered manufacturers some of the most significant advantages. Major players in the Smartphone Sensors market, including MS AG (Austria), Broadcom Inc. (US), DYNA IMAGE Corporation (China), Murata Electronics Oy (Finland), NEXT Biometrics Group ASA (Norway), Omron Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan)., and others, are attempting to increase market demand by investing in research and development operations.

    Samsung is dedicated to abiding by local laws and regulations and enforcing a strict code of conduct for all employees. Samsung adheres to a straightforward business tent: to usage its technology and expertise to develop top-notch goods and services that make a more cultured world. Samsung provides a high importance on its people and technologies to do this. For Instance: In January 2023, Samsung Electronics launched its new MICRO LED, Neo QLED, and Samsung OLED product lines, along with lifestyle products and accessories, before CES® 2023.

    Apple Inc. is a multinational American technology business with its main office in Cupertino, California. According to revenue, Apple will be the top technological business in the world in 2022, with US $ 394.3 billion in sales. According to market capitalization, Apple is the largest corporation in the world as of March 2023. For Instance: In September 2022, the iPhone 14 and iPhone 14 Plus, which come in two sizes, 6.1 and 6.7 inches and include a smart design, camera upgrades, and game-changing new safety measures, were introduced by Apple. The iPhone 14 and iPhone 14 Plus have a powerful camera system that incorporates the primary and front TrueDepth cameras, the Ultra Wide camera for uncommon perspectives, and the photonic engine, an enhanced picture pipeline.

    Key Companies in the Smartphone Sensors market include

    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)

    Industry Developments

    • September 2022: Comcast and Samsung Electronics announced their partnership to create 5G Radio Access Network (RAN) technologies to enhance 5G connection for Xfinity Mobile and Comcast Business Mobile users in Comcast service zones. Samsung will provide 5G RAN technology, and Comcast will deploy Citizens Broadband Radio Service (CBRS) and 600 MHz spectrum to provide 5G access to consumer and business users in the US.
    • October 2022: Huawei announced the release of the newest antenna solutions, including the Maxwell platform and the X2 antenna series, for the subsequent 5G antenna innovation stage. The new technologies speed up 5G deployment by improving antenna and setup capabilities.

    Market Segmentation

    Smartphone Type Outlook

    • Standard Smartphone
    • Rugged Smartphone
    • Smartwatches
    • Other Wearable

    Price Outlook

    • USD 300 to USD 500
    • USD 100 to USD 300
    • Above USD 500
    • Under USD 100

    Manufacturer Outlook

    • Apple Inc.
    • Samsung Electronics
    • Huawei Technology
    • Xiaomi Inc.
    • Oppo
    • Sony Corporation
    • HMD Global

    Application Outlook

    • High-Level
    • Mid-Level
    • Low-Level

    Manufacturer Outlook

    North America
    • US
    • Canada
    Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    Asia-Pacific
    • China
    • Japan
    • India
    • Italy
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    Rest of the World
    • Middle East
    • Africa
    • Latin America

    Report Scope

    Attribute/Metric Details
    Market Size 2021 USD 84.35 Billion
    Market Size 2022 USD 131.37 billion
    Market Size 2030 USD 282.4 Billion
    Compound Annual Growth Rate (CAGR) ~12.63% (2024-2030)
    Base Year 2023
    Forecast Period 2024-2030
    Historical Data 2018 & 2022
    Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments Covered Technology, Module Type, Grid Connectivity, Application, and Region
    Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
    Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled Trina Solar Limited (China), Canadian Solar Inc. (Canada), Jinko Solar Holding Co. Ltd. (China), JA Solar Holdings Co. Ltd. (China), Hanwha Q CELLS Co. Ltd. (South Korea)
    Key Market Opportunities Solar panel installation in remote areas
    Key Market Dynamics One of the key trends impacting the market's growth is floating solar PV plants Increase in investments in the renewable energy industry

    Market Highlights

    Author

    Aarti Dhapte
    Team Lead - Research

    She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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    This is a great article! Really helped me understand the topic better.

    Posted on July 23, 2025, 10:15 AM
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    Thanks for sharing this. I’ve bookmarked it for later reference.

    Posted on July 22, 2025, 7:45 PM
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    FAQs

    At what CAGR can the solar panels market expand?

    The solar panels market can surge at 20.18% CAGR in the assessment period.

    What is the estimated valuation for the solar panels market?

    The solar panels market poised to garner at a considerably high valuation by 2023.

    Who are the key players of the solar panels market?

    Jinko Solar Holding Co., Ltd. (China), Hanwha Q CELLS Co., Ltd., (South Korea), and JA Solar Holdings Co., Ltd. (China) are some renowned names of the solar panels market.

    What is the solar panels market growth driver?

    The growing adoption of solar panels due to growing environmental concern is expected to prompt the global solar panel market expansion.

    What is the regional analysis of the solar panels market?

    APAC is the largest producer and supplier of solar panels. Thus, the APAC solar panels market is expected to surge.

    What are the areas of application of solar panels?

    Solar panels are used for residential, utilities, and commercial purposes.

    What are CSP technology?

    Parabolic troughs, power towers, linear fresnel reflectors, and parabolic dishes are CSP technologies.

    1. EXECUTIVE SUMMARY 15
      1. MARKET ATTRACTIVENESS
        1. GLOBAL SOLAR PANELS MARKET, BY TECHNOLOGY 18
        2. GLOBAL
        3. GLOBAL SOLAR PANELS MARKET, BY
        4. GLOBAL SOLAR PANELS MARKET, BY APPLICATION 21
    2. MARKET INTRODUCTION 23
      1. SCOPE OF THE STUDY 23
      2. RESEARCH OBJECTIVE 23
      3. KEY BUYING CRITERIA 24
    3. RESEARCH METHODOLOGY
      1. RESEARCH PROCESS 25
      2. PRIMARY RESEARCH 26
      3. SECONDARY
      4. MARKET SIZE ESTIMATION 28
      5. FORECAST MODEL 29
    4. MARKET INSIGHTS 31
    5. MARKET DYNAMICS 34
      1. DRIVERS 35
        1. INCREASING DEMAND FOR ENERGY GENERATION
        2. SUPPORTIVE GOVERNMENT INITIATIVES AND
      2. RESTRAINTS 36
        1. LOW ENERGY CAPACITY IN COMPARISON
      3. OPPORTUNITIES 36
        1. INSTALLATION OF SOLAR PANELS
      4. IMPACT ANALYSIS OF COVID-19 36
        1. IMPACT ON
        2. IMPACT ON THE SUPPLY CHAIN OF THE
        3. IMPACT ON THE MARKET DEMAND FOR SOLAR PANELS 38
    6. MARKET FACTOR ANALYSIS 39
      1. SUPPLY
        1. DESIGN & DEVELOPMENT 39
        2. RAW MATERIAL
        3. MANUFACTURE & ASSEMBLY 39
        4. SALES
        5. END USE 40
      2. PORTER’S FIVE FORCES
        1. THREAT OF NEW ENTRANTS 41
        2. BARGAINING POWER OF SUPPLIERS
        3. THREAT OF SUBSTITUTES 41
        4. BARGAINING POWER OF BUYERS 41
        5. INTENSITY OF RIVALRY 41
    7. GLOBAL SOLAR PANELS MARKET, BY TECHNOLOGY
      1. OVERVIEW 42
      2. SOLAR PV 43
      3. CONCENTRATED SOLAR POWER (CSP)
    8. GLOBAL SOLAR PANELS MARKET, BY MODULE TYPE 44
      1. OVERVIEW 44
      2. CRYSTALLINE 45
      3. THIN FILM 45
    9. GLOBAL SOLAR PANELS MARKET, BY
      1. OVERVIEW 46
      2. ON-GRID 47
      3. OFF-GRID
    10. GLOBAL SOLAR PANELS MARKET, BY APPLICATION 48
      1. OVERVIEW 48
      2. RESIDENTIAL 49
      3. INDUSTRIAL 49
      4. COMMERCIAL 49
    11. GLOBAL
      1. OVERVIEW 50
      2. NORTH AMERICA
        1. US 54
        2. CANADA 55
        3. MEXICO 57
      3. EUROPE
        1. UK 61
        2. GERMANY 62
        3. RUSSIA 64
        4. ITALY
        5. FRANCE 67
        6. REST OF EUROPE 68
      4. ASIA-PACIFIC 70
        1. CHINA 72
        2. INDIA 74
        3. JAPAN 76
        4. SOUTH KOREA
        5. REST OF ASIA-PACIFIC 79
      5. MIDDLE EAST & AFRICA 81
        1. SAUDI ARABIA 83
        2. UAE 84
        3. SOUTH AFRICA 86
      6. SOUTH AMERICA 89
        1. BRAZIL
        2. ARGENTINA 92
        3. REST OF SOUTH AMERICA 94
    12. COMPETITIVE
      1. COMPETITIVEOVERVIEW 96
      2. COMPETITIVE BENCHMARKING
      3. MARKET SHARE ANALYSIS 98
      4. KEY DEVELOPMENTS IN THE GLOBAL SOLAR
        1. KEY DEVELOPMENTS: ACQUISITIONS 98
        2. KEY DEVELOPMENTS:
        3. KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS 100
    13. COMPANY PROFILES 102
      1. CANADIAN SOLAR INC 104
        1. COMPANY OVERVIEW
        2. FINANCIAL OVERVIEW 105
        3. PRODUCTS OFFERED 106
        4. SWOT ANALYSIS 107
        5. KEY STRATEGIES 107
      2. SUNPOWER CORPORATION 108
        1. COMPANY OVERVIEW 108
        2. FINANCIAL
        3. PRODUCTS OFFERED 109
        4. KEY DEVELOPMENTS 110
        5. SWOT ANALYSIS 110
        6. KEY STRATEGIES 111
      3. JINKO SOLAR
        1. COMPANY OVERVIEW 112
        2. FINANCIAL OVERVIEW
        3. PRODUCTS OFFERED 114
        4. KEY DEVELOPMENTS 114
        5. COMPANY OVERVIEW 115
        6. FINANCIAL
        7. PRODUCTS OFFERED 116
        8. KEY DEVELOPMENTS 117
      4. PHOTONIX SOLAR PVT LTD 118
        1. COMPANY OVERVIEW 118
        2. FINANCIAL
        3. PRODUCTS OFFERED 118
        4. KEY DEVELOPMENTS 118
      5. KYOCERA CORPORATION 119
        1. COMPANY OVERVIEW 119
        2. PRODUCTS
        3. KEY DEVELOPMENTS 120
      6. AGL ENERGY 121
        1. FINANCIAL OVERVIEW 122
        2. PRODUCTS OFFERED
        3. KEY DEVELOPMENTS 123
      7. ABENGOA SOLAR 124
        1. COMPANY
        2. FINANCIAL OVERVIEW 124
        3. PRODUCTS OFFERED 125
        4. KEY DEVELOPMENTS 125
      8. ESOLAR INC 126
        1. COMPANY OVERVIEW
        2. FINANCIAL OVERVIEW 126
        3. PRODUCTS OFFERED 126
      9. YINGLI SOLAR 127
        1. COMPANY OVERVIEW 127
        2. FINANCIAL OVERVIEW 127
        3. PRODUCTS OFFERED 127
      10. FIRST SOLAR INC. 128
        1. COMPANY OVERVIEW
        2. FINANCIAL OVERVIEW 128
        3. PRODUCTS OFFERED 129
      11. JA SOLAR HOLDINGS CO LTD 130
        1. COMPANY
        2. FINANCIAL OVERVIEW 130
        3. PRODUCTS OFFERED 130
        4. KEY DEVELOPMENTS 130
    14. GLOBAL SOLAR PANELS: MARKET ESTIMATES & FORECAST, BY MODULE TYPE, 2024–2030
    15. CANADA: SOLAR PANELS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2024–2030
    16. GERMANY: SOLAR PANELS MARKET ESTIMATES & FORECAST, BY TECHNOLOGY, 2024–2030
    17. CHINA: SOLAR PANELS MARKET ESTIMATES & FORECAST, BY GRID CONNECTIVITY, 2024–2030
    18. JAPAN: SOLAR PANELS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2024–2030
    19. REST OF ASIA-PACIFIC: SOLAR PANELS MARKET ESTIMATES & FORECAST, BY APPLICATION,
    20. SAUDI ARABIA: SOLAR PANELS MARKET ESTIMATES & FORECAST, BY GRID CONNECTIVITY,
    21. UAE: SOLAR PANELS MARKET ESTIMATES & FORECAST, BY TECHNOLOGY, 2024–2030
    22. SOUTH AFRICA: SOLAR PANELS MARKET ESTIMATES & FORECAST, BY MODULE TYPE, 2024–2030
    23. REST OF MIDDLE EAST & AFRICA: SOLAR PANELS MARKET ESTIMATES & FORECAST,
    24. KEY DEVELOPMENTS: MERGERS& AGREEMENTS 101
    25. HANWHA GROUP: KEY DEVELOPMENTS 117
    26. ABENGOA SOLAR: PRODUCTS OFFERED 125
    27. FIRST SOLAR INC: KEY DEVELOPMENTS 129
    28. MARKET ATTRACTIVENESS ANALYSIS: GLOBAL SOLAR PANELS MARKET 17
    29. SOUTH AMERICA: SOLAR PANELS MARKET SIZE & MARKET SHARE, BY COUNTRY (2021
    30. GLOBAL SOLAR PANELS MARKET, BY TECHNOLOGY, 2024 TO 2030 (USD MILLION) 42
    31. GLOBAL SOLAR PANELS MARKET, BY MODULE TYPE, 2021 (% SHARE) 44
    32. GLOBAL SOLAR PANELS MARKET, BY GRID CONNECTIVITY, 2019 (% SHARE) 46
    33. GLOBAL SOLAR PANELS MARKET, BY GRID CONNECTIVITY, 2024 TO 2030(USD MILLION) 46
    34. GLOBAL SOLAR PANELS MARKET, BY APPLICATION, 2024 TO 2030 (USD MILLION) 48
    35. GLOBAL SOLAR PANELS MARKET, BY REGION, 2024–2030 (USD MILLION) 51
    36. BENCHMARKING OF MAJOR COMPETITORS 97
    37. CANADIAN SOLAR INC: FINANCIAL OVERVIEW SNAPSHOT 105

    Solar Panels Market Segmentation

    Solar Panels Technology Outlook (USD Billion, 2024-2030)

    • Solar PV
    • Concentrated Solar Power

    Solar Panels Module Type Outlook (USD Billion, 2024-2030)

    • Thin Film
    • Crystalline

    Solar Panels Grid Connectivity Outlook (USD Billion, 2024-2030)

    • On-Grid
    • Off-Grid

    Solar Panels Application Outlook (USD Billion, 2024-2030)

    • Residential
    • Commercial
    • Industrial

    Solar Panels Regional Outlook (USD Billion, 2024-2030)

    • North America Outlook (USD Billion, 2024-2030)

      • North America Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • North America Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • North America Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • North America Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • US Outlook (USD Billion, 2024-2030)

      • US Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • US Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • US Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • US Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • CANADA Outlook (USD Billion, 2024-2030)

      • CANADA Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • CANADA Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • CANADA Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • CANADA Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

    • Europe Outlook (USD Billion, 2024-2030)

      • Europe Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Europe Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Europe Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Europe Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • Germany Outlook (USD Billion, 2024-2030)

      • Germany Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Germany Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Germany Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Germany Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • France Outlook (USD Billion, 2024-2030)

      • France Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • France Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • France Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • France Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • UK Outlook (USD Billion, 2024-2030)

      • UK Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • UK Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • UK Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • UK Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • ITALY Outlook (USD Billion, 2024-2030)

      • ITALY Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • ITALY Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • ITALY Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • ITALY Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • SPAIN Outlook (USD Billion, 2024-2030)

      • Spain Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Spain Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Spain Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Spain Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • Rest Of Europe Outlook (USD Billion, 2024-2030)

      • Rest Of Europe Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • REST OF EUROPE Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • REST OF EUROPE Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • REST OF EUROPE Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

    • Asia-Pacific Outlook (USD Billion, 2024-2030)

      • Asia-Pacific Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Asia-Pacific Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Asia-Pacific Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Asia-Pacific Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • China Outlook (USD Billion, 2024-2030)

      • China Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • China Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • China Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • China Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • Japan Outlook (USD Billion, 2024-2030)

      • Japan Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Japan Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Japan Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Japan Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • India Outlook (USD Billion, 2024-2030)

      • India Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • India Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • India Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • India Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • Australia Outlook (USD Billion, 2024-2030)

      • Australia Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Australia Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Australia Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Australia Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • Rest of Asia-Pacific Outlook (USD Billion, 2024-2030)

      • Rest of Asia-Pacific Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Rest of Asia-Pacific Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Rest of Asia-Pacific Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Rest of Asia-Pacific Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

    • Rest of the World Outlook (USD Billion, 2024-2030)

      • Rest of the World Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Rest of the World Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Rest of the World Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Rest of the World Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • Middle East Outlook (USD Billion, 2024-2030)

      • Middle East Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Middle East Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Middle East Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Middle East Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • Africa Outlook (USD Billion, 2024-2030)

      • Africa Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Africa Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Africa Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Africa Solar Panels by Application

        • Residential
        • Commercial
        • Industrial

      • Latin America Outlook (USD Billion, 2024-2030)

      • Latin America Solar Panels by Technology

        • Solar PV
        • Concentrated Solar Power

      • Latin America Solar Panels by Module Type

        • Thin Film
        • Crystalline

      • Latin America Solar Panels by Grid Connectivity

        • On-Grid
        • Off-Grid

      • Latin America Solar Panels by Application

        • Residential
        • Commercial
        • Industrial
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