Solar PV Panel Market Outlook 2025-2031 : Global Revenues Projected to Reach US$ 86.79 Billion

Market Summary -

According to QY Research, a new publication titled "Global Solar PV Panel Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031" provides an in-depth, data-driven analysis of the global Solar PV Panel market to support informed decision-making and sustainable growth strategies. Authored by experienced market analysts and subject-matter experts, the report delivers accurate market data, validated insights, and actionable recommendations for industry participants. It evaluates historical performance alongside future forecasts to clearly explain competitive dynamics, key growth drivers, market challenges, and emerging opportunities. With detailed coverage of market dynamics, segmentation, leading companies, and regional trends, this comprehensive report serves as a reliable strategic resource for businesses looking to gain a competitive edge in the global Solar PV Panel market.

The global Solar PV Panel market was valued at US$ 49.42 billion in 2024 and is anticipated to reach US$ 86.79 billion by 2031, witnessing a CAGR of 8.5% during the forecast period 2025-2031.

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A solar cell or photovoltaic (PV) cell is a semiconductor device that converts light directly into electricity by the photovoltaic effect. The most common material in solar cell production is purified silicon that can be applied in different ways.

A (Solar Photovoltaic (PV) Panels) PV module is an assembly of photo-voltaic cells mounted in a framework for installation. Photo-voltaic cells use sunlight as a source of energy and generate direct current electricity. A collection of PV modules is called a PV Panel, and a system of Panels is an Array. Arrays of a photovoltaic system supply solar electricity to electrical equipment.

It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China"s photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%.

Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan"s newly installed photovoltaic capacity was 3.86 GW.

Major Company Included: -

JinkoSolar
Hanwha Q Cells
Canadian Solar
SunPower Corporation
Trina Solar
GCL System Integration
LONGi Solar
First Solar
Risen Energy
Talesun
JA Solar
Yingli Solar
ReneSola

Recent Developments -

The report highlights recent developments undertaken by key participants in the global Solar PV Panel market, providing up-to-date insights into evolving industry trends. It covers major strategic initiatives by manufacturers, including mergers and acquisitions, joint ventures, collaborations, product innovations, new offerings, and ongoing research and development activities. By tracking these strategic moves, the study offers a clear understanding of how leading companies are strengthening their market positions and driving innovation. This focused analysis helps readers stay informed about critical advancements and emerging opportunities shaping the future of the global Solar PV Panel market.

Market Drivers, Challenges & Restraints -

This section outlines the various elements influencing the trajectory of the Solar PV Panel market:

Key Growth Drivers -

- Supportive policy frameworks and regulatory reforms
- Advancement in product innovation and technological breakthroughs
- Growing demand in emerging application areas
- Shift in global supply chain structures

Restraints & Challenges -

- Regulatory uncertainties
- Competitive pricing pressures
- Operational risks
- Market-entry barriers

Market Segmentation and Regional -

By Type

Monocrystalline
Polycrystalline
And Thin-Film

By Application

Residential
Commercial

The report provides valuable insights into the key segments of the global Solar PV Panel market, with a strong focus on CAGR, market size, market share, and future growth potential. The market is comprehensively segmented by product type, application, and region, with each segment thoroughly analyzed to identify growth prospects, demand patterns, and emerging trends. This detailed segmental analysis plays a crucial role in uncovering high-growth and high-return opportunities across the market. By offering precise data on product- and application-level demand, the report enables businesses to prioritize profitable segments and develop targeted strategies within the global Solar PV Panel market.

Regional Analysis -

✔ North America (U.S., Canada, China)
✔ Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
✔ Asia-Pacific (Japan, South Korea, China Taiwan, Southeast Asia, India)
✔ Middle East, Africa, Latin America (Brazil, Mexico, Turkey, Israel, GCC Countries)

Reasons to Procure this Report: -

►The research would help top administration/policymakers/professionals/product advancements/sales managers and stakeholders in this market in the following ways.

►The report provides Solar PV Panel market revenues at the worldwide, regional, and country-level with a complete analysis to 2028 permitting companies to analyze their market share and analyze projections, and find new markets to aim.

►The research includes the Solar PV Panel market split by different types, applications, technologies, and end-uses. This segmentation helps leaders plan their products and finances based on the upcoming development rates of each segment.

►Solar PV Panel market analysis benefits investors by knowing the scope and position of the market giving them information on key drivers, challenges, restraints, and expansion chances of the market and moderate threats.

►This report would help to understand competition better with a detailed analysis and key strategies of their competitors and plan their position in the business.

►The study helps evaluate Solar PV Panel business predictions by region, key countries, and top companies' information to channel their investments.

Key questions answered in the report include:

►This Solar PV Panel report gives all the information about the industry analysis, revenue, and overview, of this market.

►What will be the rate of increase in Solar PV Panel market size and growth rate by the end of the forecast period?

►What are the major global Solar PV Panel market trends influencing the development of the market?

►What are the vital results of SWOT analysis of the major players operating in the Solar PV Panel market?

►What are the potential growth opportunities and threats faced by Major competitors in the Solar PV Panel market?

►What are the market opportunities and threats faced by vendors in the Global Solar PV Panel market?

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Table of Contents - Major Key Points:

1 Solar PV Panel Market Overview
1.1 Product Definition
1.2 Solar PV Panel by Type
1.2.1 Global Solar PV Panel Market Value by Type (2020-2031)
1.2.2 Monocrystalline
1.2.3 Polycrystalline
1.2.4 And Thin-Film
1.3 Solar PV Panel by Application
1.3.1 Global Solar PV Panel Market Value by Application 2020-2031)
1.3.2 Residential
1.3.3 Commercial
1.4 Global Market Growth Prospects
1.4.1 Global Solar PV Panel Revenue (2020-2031)
1.4.2 Global Solar PV Panel Sales (2020-2031)
1.4.3 Global Solar PV Panel Market Average Price (2020-2031)
1.5 Assumptions and Limitations
1.6 Study Objectives
1.7 Years Considered
2 Key Insights
2.1 Key Emerging Trends
2.2 Key Developments - Mergers Acquisitions, New Product Launches, Collaborations, Partnerships and Joint Ventures
2.3 Latest Technological Advancements
2.4 Insights on Regulatory Scenarios
2.5 Porters Five Forces Analysis
3 Manufacturers Competitive Analysis
3.1 Global Solar PV Panel Revenue by Manufacturer (2020-2025)
3.2 Global Solar PV Panel Sales by Manufacturer (2020-2025)
3.3 Global Solar PV Panel Average Price by Manufacturer (2020-2025)
3.4 Solar PV Panel Company Evaluation Quadrant
3.5 Industry Rank
3.5.1 Global Key Players of Solar PV Panel, Industry Ranking, 2023 VS 2024
3.5.2 Global Solar PV Panel Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.5.3 Global Solar PV Panel Market Concentration Rate
3.5.4 Global 5 and 10 Largest Solar PV Panel Players Market Share by Revenue
3.6 Solar PV Panel Market: Overall Company Footprint Analysis
3.6.1 Solar PV Panel Market: Region Footprint
3.6.2 Solar PV Panel Market: Company Product Type Footprint
3.6.3 Solar PV Panel Market: Company Product Application Footprint
3.6.4 Global Key Manufacturers of Solar PV Panel, Date of Enter into This Industry
3.7 Competitive Environment
3.7.1 Historical Structure of the Industry
3.7.2 Barriers of Market Entry
3.7.3 Factors of Competition
4 Manufacturers Profiles
4.1 JinkoSolar
4.1.1 JinkoSolar Solar PV Panel Details
4.1.2 JinkoSolar Solar PV Panel Product and Services
4.1.3 JinkoSolar Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.1.4 JinkoSolar Major Business
4.1.5 JinkoSolar Recent Developments/Updates
4.2 Hanwha Q Cells
4.2.1 Hanwha Q Cells Solar PV Panel Details
4.2.2 Hanwha Q Cells Solar PV Panel Product and Services
4.2.3 Hanwha Q Cells Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.2.4 Hanwha Q Cells Major Business
4.2.5 Hanwha Q Cells Recent Developments/Updates
4.3 Canadian Solar
4.3.1 Canadian Solar Solar PV Panel Details
4.3.2 Canadian Solar Solar PV Panel Product and Services
4.3.3 Canadian Solar Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.3.4 Canadian Solar Major Business
4.3.5 Canadian Solar Recent Developments/Updates
4.4 SunPower Corporation
4.4.1 SunPower Corporation Solar PV Panel Details
4.4.2 SunPower Corporation Solar PV Panel Product and Services
4.4.3 SunPower Corporation Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.4.4 SunPower Corporation Major Business
4.4.5 SunPower Corporation Recent Developments/Updates
4.5 Trina Solar
4.5.1 Trina Solar Solar PV Panel Details
4.5.2 Trina Solar Solar PV Panel Product and Services
4.5.3 Trina Solar Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.5.4 Trina Solar Major Business
4.5.5 Trina Solar Recent Developments/Updates
4.6 GCL System Integration
4.6.1 GCL System Integration Solar PV Panel Details
4.6.2 GCL System Integration Solar PV Panel Product and Services
4.6.3 GCL System Integration Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.6.4 GCL System Integration Major Business
4.6.5 GCL System Integration Recent Developments/Updates
4.7 LONGi Solar
4.7.1 LONGi Solar Solar PV Panel Details
4.7.2 LONGi Solar Solar PV Panel Product and Services
4.7.3 LONGi Solar Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.7.4 LONGi Solar Major Business
4.7.5 LONGi Solar Recent Developments/Updates
4.8 First Solar
4.8.1 First Solar Solar PV Panel Details
4.8.2 First Solar Solar PV Panel Product and Services
4.8.3 First Solar Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.8.4 First Solar Major Business
4.8.5 First Solar Recent Developments/Updates
4.9 Risen Energy
4.9.1 Risen Energy Solar PV Panel Details
4.9.2 Risen Energy Solar PV Panel Product and Services
4.9.3 Risen Energy Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.9.4 Risen Energy Major Business
4.9.5 Risen Energy Recent Developments/Updates
4.10 Talesun
4.10.1 Talesun Solar PV Panel Details
4.10.2 Talesun Solar PV Panel Product and Services
4.10.3 Talesun Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.10.4 Talesun Major Business
4.10.5 Talesun Recent Developments/Updates
4.11 JA Solar
4.11.1 JA Solar Solar PV Panel Details
4.11.2 JA Solar Solar PV Panel Product and Services
4.11.3 JA Solar Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.11.4 JA Solar Major Business
4.11.5 JA Solar Recent Developments/Updates
4.12 Yingli Solar
4.12.1 Yingli Solar Solar PV Panel Details
4.12.2 Yingli Solar Solar PV Panel Product and Services
4.12.3 Yingli Solar Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.12.4 Yingli Solar Major Business
4.12.5 Yingli Solar Recent Developments/Updates
4.13 ReneSola
4.13.1 ReneSola Solar PV Panel Details
4.13.2 ReneSola Solar PV Panel Product and Services
4.13.3 ReneSola Solar PV Panel Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
4.13.4 ReneSola Major Business
4.13.5 ReneSola Recent Developments/Updates
5 Consumption Analysis by Region
5.1 Global Solar PV Panel Market Size by Region
5.1.1 Global Solar PV Panel Consumption Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global Solar PV Panel Consumption Value by Region (2020-2025)
5.1.3 Global Solar PV Panel Consumption Value by Region (2026-2031)
5.1.4 Global Solar PV Panel Consumption Value Market Share by Region (2020-2031)
5.2 Global Solar PV Panel Sales Quantity by Region
5.2.1 Global Solar PV Panel Sales Quantity by Region: 2020 VS 2024 VS 2031
5.2.2 Global Solar PV Panel Sales Quantity by Region (2020-2025)
5.2.3 Global Solar PV Panel Sales Quantity by Region (2026-2031)
5.2.4 Global Solar PV Panel Sales Quantity Market Share by Region (2020-2031)
5.3 Global Solar PV Panel Average Price by Region
5.4 North America Solar PV Panel Consumption Value (2020-2031)
5.5 Europe Solar PV Panel Consumption Value (2020-2031)
5.6 Asia-Pacific Solar PV Panel Consumption Value (2020-2031)
5.7 South America Solar PV Panel Consumption Value (2020-2031)
5.8 Middle East & Africa Solar PV Panel Consumption Value (2020-2031)
6 Market Scenario by Region & Country
6.1 Global Solar PV Panel Consumption Value by Region & Country: 2020 Versus 2024 Versus 2031
6.2 Global Solar PV Panel Consumption Value by Region & Country (2020-2031)
6.3 Global Solar PV Panel Sales Quantity by Region & Country (2020-2031)
6.4 Global Solar PV Panel Average Price by Region & Country (2020-2031)
6.5 North America Solar PV Panel Market Facts & Figures by Country
6.5.1 North America Solar PV Panel Consumption Value by Country: 2020 VS 2024 VS 2031
6.5.2 North America Solar PV Panel Sales Quantity by Country (2020-2031)
6.5.3 North America Solar PV Panel Consumption Value by Country (2020-2031)
6.5.4 United States
6.5.5 Canada
6.6 Europe Solar PV Panel Market Facts & Figures by Country
6.6.1 Europe Solar PV Panel Consumption Value by Country: 2020 VS 2024 VS 2031
6.6.2 Europe Solar PV Panel Sales Quantity by Country (2020-2031)
6.6.3 Europe Solar PV Panel Consumption Value by Country (2020-2031)
6.6.4 Germany
6.6.5 France
6.6.6 U.K.
6.6.7 Italy
6.6.8 Russia
6.7 Asia Pacific Solar PV Panel Market Facts & Figures by Region
6.7.1 Asia Pacific Solar PV Panel Market Size by Region: 2020 VS 2024 VS 2031
6.7.2 Asia Pacific Solar PV Panel Sales Quantity by Region (2020-2031)
6.7.3 Asia Pacific Solar PV Panel Consumption Value by Region (2020-2031)
6.7.4 China
6.7.5 Japan
6.7.6 South Korea
6.7.7 India
6.7.8 Australia
6.7.9 China Taiwan
6.7.10 Indonesia
6.7.11 Thailand
6.7.12 Malaysia
6.8 South America Solar PV Panel Market Facts & Figures by Country
6.8.1 South America Solar PV Panel Market Size by Country: 2020 VS 2024 VS 2031
6.8.2 South America Solar PV Panel Sales Quantity by Country (2020-2031)
6.8.3 South America Solar PV Panel Consumption Value by Country
6.8.4 Mexico
6.8.5 Brazil
6.8.6 Argentina
6.9 Middle East and Africa Solar PV Panel Market Facts & Figures by Country
6.9.1 Middle East and Africa Solar PV Panel Market Size by Country: 2020 VS 2024 VS 2031
6.9.2 Middle East and Africa Solar PV Panel Sales Quantity by Country (2020-2031)
6.9.3 Middle East and Africa Solar PV Panel Consumption Value by Country
6.9.4 Turkey
6.9.5 Saudi Arabia
6.9.6 UAE
7 Segment by Type
7.1 Global Solar PV Panel Sales Quantity by Type (2020-2031)
7.1.1 Global Solar PV Panel Sales Quantity by Type (2020-2025)
7.1.2 Global Solar PV Panel Sales Quantity by Type (2026-2031)
7.1.3 Global Solar PV Panel Sales Quantity Market Share by Type (2020-2031)
7.2 Global Solar PV Panel Revenue by Type (2020-2031)
7.2.1 Global Solar PV Panel Revenue by Type (2020-2025)
7.2.2 Global Solar PV Panel Revenue by Type (2026-2031)
7.2.3 Global Solar PV Panel Revenue Market Share by Type (2020-2031)
7.3 Global Solar PV Panel Price by Type (2020-2031)
8 Segment by Application
8.1 Global Solar PV Panel Sales Quantity by Application (2020-2031)
8.1.1 Global Solar PV Panel Sales Quantity by Application (2020-2025)
8.1.2 Global Solar PV Panel Sales Quantity by Application (2026-2031)
8.1.3 Global Solar PV Panel Sales Quantity Market Share by Application (2020-2031)
8.2 Global Solar PV Panel Revenue by Application (2020-2031)
8.2.1 Global Solar PV Panel Revenue by Application (2020-2025)
8.2.2 Global Solar PV Panel Revenue by Application (2026-2031)
8.2.3 Global Solar PV Panel Revenue Market Share by Application (2020-2031)
8.3 Global Solar PV Panel Price by Application (2020-2031)
9 Industry Chain and Sales Channels Analysis
9.1 Solar PV Panel Industry Chain Analysis
9.2 Solar PV Panel Key Raw Materials
9.2.1 Key Raw Materials
9.2.2 Raw Materials Key Suppliers
9.3 Solar PV Panel Production Mode & Process
9.4 Solar PV Panel Sales and Marketing
9.4.1 Solar PV Panel Sales Channels
9.4.2 Solar PV Panel Distributors
9.5 Solar PV Panel Customers
10 Research Findings and Conclusion
11 Appendix
11.1 Research Methodology
11.1.1 Methodology/Research Approach
11.1.1.1 Research Programs/Design
11.1.1.2 Market Size Estimation
11.1.1.3 Market Breakdown and Data Triangulation
11.1.2 Data Source
11.1.2.1 Secondary Sources
11.1.2.2 Primary Sources
11.2 Author Details
11.3 Disclaimer

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