Solar Panel Market Growth Outlook Projected to Reach USD 275.16 Billion by 2030 with a CAGR of 7.3%

Introduction

The solar panel market has experienced robust growth, with new mergers and acquisitions (M&A) reshaping the landscape across key regions, including Vietnam, Thailand, Singapore, Japan, South Korea, Europe, and the United States. According to recent market reports, the global solar panel industry is poised to reach new heights, driven by innovation, sustainable energy trends, and strategic partnerships that will propel both regional and global expansion.

Key Market Trends and Developments

Market Size and Growth Projections: The global solar panel market, valued at USD 188.56 billion in 2023, is forecasted to expand significantly over the next decade, with a projected Compound Annual Growth Rate (CAGR) of 22.4%, reaching USD 505.61 billion by 2030.

Focus on Renewable Energy: As the demand for renewable energy surges worldwide, solar panels are becoming an integral part of the energy infrastructure. Governments and private sectors alike are heavily investing in solar technologies to meet clean energy goals and reduce carbon emissions.

Mergers & Acquisitions Impact: M&A activity has intensified as industry leaders work to consolidate resources, expand their technological capabilities, and explore new geographical markets.

𝐅𝐨𝐫 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐜𝐥𝐢𝐜𝐤 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤:https://www.maximizemarketresearch.com/request-sample/188556/

Mergers and Acquisitions in Key Regions

Vietnam and Thailand:

In Southeast Asia, solar companies are rapidly expanding their reach. Vietnamese and Thai companies are driving solar panel production and installations to meet growing domestic and international demand. Recent mergers between local solar manufacturers and international giants have strengthened supply chains and advanced regional manufacturing capabilities.

Key M&A Example: In 2024, Vietnam's leading solar panel provider entered into a strategic partnership with a Thai solar installation company to facilitate better access to Southeast Asia's growing market.

Singapore:

Singapore is positioning itself as a renewable energy hub, with various key acquisitions, including solar energy technology firms. The city-state's efforts to increase solar installations on rooftops, buildings, and floating solar farms have sparked interest among international investors.

Recent Acquisition: A Singapore-based solar technology firm was acquired by a global renewable energy corporation, consolidating their technology portfolio and enabling faster deployment of solar solutions across Asia-Pacific.

𝐅𝐨𝐫 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐜𝐥𝐢𝐜𝐤 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤:https://www.maximizemarketresearch.com/request-sample/188556/

Japan and South Korea:

Japan and South Korea remain pivotal players in the solar panel market. South Korea's technology giants, including Samsung and LG, have made substantial strides in acquiring solar technology firms to enhance their product offerings. Similarly, Japan has witnessed a rise in solar energy partnerships, spurred by the government's commitment to achieving net-zero emissions by 2050.

Key M&A Trends: Japanese conglomerates have recently partnered with South Korean solar panel manufacturers to jointly develop next-generation solar technology.

Europe and the US:

In Europe, a surge in solar panel installations in countries like Germany, France, and Spain is creating substantial demand for new technologies and manufacturing capabilities. Similarly, the United States continues to invest heavily in solar infrastructure, spurred by favorable governmental incentives.

Recent European M&A Developments: A leading European renewable energy provider acquired a major solar panel manufacturing facility in Germany, boosting its production capacity and expanding its market share.

US Solar Market Consolidation: In the United States, a prominent solar panel producer merged with a key energy storage solution provider, improving its value proposition to customers looking for comprehensive solar and storage solutions.

𝐅𝐨𝐫 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐜𝐥𝐢𝐜𝐤 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤:https://www.maximizemarketresearch.com/request-sample/188556/

Solar Panel Market Segmentation

by Type

1.On-grid
2.Off-grid

by Technology

1.Crystalline Silicon
2.Concentrated PV cell
3.Others

by Solar Panel types

1.Monocrystalline Solar Panel
2.Polycrystalline Solar Panel
3.Thin-film Solar Panel
4.Bifacial Solar Panel
5.Perovskite Solar Panels

by Installation Type

1.Rooftop Solar Panels
2.Ground-Mounted Solar Panels
3.Floating Solar Panels

by End User

1.Residential
2.Commercial
3.Industrial
4.Utilities

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐟𝐨𝐫 𝐚 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐞𝐱𝐩𝐥𝐚𝐧𝐚𝐭𝐢𝐨𝐧:https://www.maximizemarketresearch.com/market-report/solar-panel-market/188556/

Solar Panel Market Key Players

1. SunPower Corporation
2. JA solar
3. LONGi Solar
4.Canadian Solar
5. Hanwha Q-CELLS
6.Risen Energy
7. GCL-SI
8. First Solar
9. Waare Group
10.Tata power solar system
11.Trina Solar Limited
12. Jinko Solar Holding
13. ABROS Green GmbH
14. Einnova Solarline,
15. JS Solar
16.Jiangsu runda PV
17.Phtonix solar private limited
18.Urja Global Limited,
19. Vikram solar limited
20.123 Solar
21. Ace Solar Energy
22. ADS Solar
23.Ahorrosolar SL
24.Aikyum Solar
25.ALtek Market
26.Althuizen Solar Technology
27.Amazing Solar
28. American Sentry Solar

Key Players and Their M&A Activity

First Solar Inc. (USA): Recently acquired a solar panel manufacturing plant in the United States to expand production and meet rising demand.

Longi Green Energy Technology Co., Ltd. (China): Entered into a joint venture with a European solar tech firm to penetrate European markets and diversify its portfolio.

JinkoSolar (China): Acquired a solar energy technology company in South Korea to strengthen its position in the APAC region.

Trina Solar (China): Trina Solar has significantly expanded its presence in Southeast Asia through a series of acquisitions, securing key manufacturing facilities and installation partnerships.

LG Electronics (South Korea): LG's acquisition of a leading American solar firm boosts its market footprint in North America, focusing on residential solar installations.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

♦ Shunt Reactor Market https://www.maximizemarketresearch.com/market-report/shunt-reactor-market/1161/

♦ Single Axis Solar Tracker Market https://www.maximizemarketresearch.com/market-report/single-axis-solar-tracker-market/221168/

♦ Slickline Services Market https://www.maximizemarketresearch.com/market-report/slickline-services-market/148022/

♦ Solar Appliances Market https://www.maximizemarketresearch.com/market-report/solar-appliances-market/217463/

♦ Solar Lights Market https://www.maximizemarketresearch.com/market-report/solar-lights-market/183919/

♦ Solar Panel Market https://www.maximizemarketresearch.com/market-report/solar-panel-market/188556/

♦ Solar Panel Recycling Market https://www.maximizemarketresearch.com/market-report/solar-panel-recycling-market/70224/

♦ Solar Photovoltaics Wafer Market https://www.maximizemarketresearch.com/market-report/solar-photovoltaics-wafer-market/148033/

♦ Solar Powered Vaccine Refrigerator Market https://www.maximizemarketresearch.com/market-report/solar-powered-vaccine-refrigerator-market/76167/

♦ Solar Power Plant Market https://www.maximizemarketresearch.com/market-report/solar-power-plant-market/194196/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

MAXIMIZE MARKET RESEARCH PVT. LTD.
⮝ 3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
✆ +91 9607365656
🖂 sales@maximizemarketresearch.com
🌐 www.maximizemarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

A versatile market research and consulting firm, Maximize Market Research employs experts from several sectors. Medical device manufacturers, pharmaceutical companies, science and engineering, electronic components, industrial equipment, technology and communication, automobiles, chemical goods and substances, general merchandise, alcoholic beverages, personal care products, and automated systems are a few of the industries we cover. To name a few, we offer client impact studies, technical trend analysis, critical market research, competitive analysis, production and demand analysis, and market-verified industry estimations.

This release was published on openPR.