United States Solar Panel Market is expected to reach US$ 78.3 billion by 2032 | Major key players - Jinko Solar, Trina Solar, Canadian Solar, JA Solar, Hanwha Q cells

Market Size and Growth:

The Global Solar Panel Market size reached US$ 165.2 million in 2022 and is expected to reach US$ 642.3 million by 2031, growing with a CAGR of 18.5% during the forecast period 2024-2031.

DataM Intelligence has published a new research report on "Solar Panel Market Size 2026". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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The Solar Panel Market refers to the global industry involved in the manufacturing, distribution, and installation of solar photovoltaic (PV) panels, which convert sunlight into electricity. It encompasses key activities such as raw material sourcing, panel production, system integration, and after-sales services. Driven by renewable energy adoption, government incentives, and technological advancements, the market serves residential, commercial, and industrial sectors. Growing environmental awareness, declining costs, and energy security concerns are accelerating demand, making it a crucial segment in the global transition toward sustainable energy solutions.

Recent Key Developments of United States:

✅ January 2026: Domestic module production reached 60.1 GW after Q3 2025 additions of nearly 4.7 GW, amid tight residential module availability ahead of tax credit changes. Cumulative solar capacity was projected to grow 22% to 279 GW in 2025, with forecasts for +16% to 323 GW in 2026.

✅ December 2025: Q3 2025 installations hit 11.7 GW, pushing annual total over 30 GW despite policy uncertainty; utility-scale led growth, with solar comprising 58% of new grid capacity. New module facilities in Louisiana and South Carolina (4.7 GW total) came online, alongside a Michigan wafer plant, enabling full domestic supply chain production.

✅ November 2025: US solar manufacturing capacity expanded significantly, surpassing 60 GW for modules with a 37% increase and 300% for cells from late 2024 levels, driven by IRA incentives and new factories. Residential solar faced policy shifts, including the end of the Section 25D tax credit under the One Big Beautiful Bill Act, prompting adaptations in financing and supply.

Recent Key Developments of Japan:

✅ January 2026: FIT/FIP-commissioned PV capacity for H1 2025 reached 1.346 GW, projecting ~2 GW for full-year 2025, highlighting needs for PPA expansion. Rooftop solar market valued at $2.9 billion in 2025, with mandates driving growth toward $6 billion by 2035 at 7.6% CAGR.

✅ December 2025: Kanazawa University commissioned an outdoor testing field for tandem perovskite solar cells with Toshiba, running through 2026 to evaluate lead-stabilized modules. METI targeted 20 GW perovskite PV deployment by 2040, supported by NEDO's new R&D programs for manufacturing and testing.

✅ November 2025: Solar module shipments surged to 1.28 GW in Q1 FY2025 (April-June), up 111% year-over-year, fueled by strong residential rooftop demand. Tokyo mandated solar panels on new detached homes and residential buildings starting April 2025, boosting rooftop adoption in major cities.

List of the Key Players in the Solar Panel Market:

Jinko Solar
Trina Solar
Canadian Solar
JA Solar
Hanwha Q cells
GCL System Integration
Longi Solar
Shunfeng International Clean Energy Limited
KyoCera Solar
Yingli Solar

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This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Segments Covered in the Solar Panel Market:

By Product: Crystalline solar panels, Thin-Film Solar Panels, Smart Solar Panels.

By Mountings: Roof Top, Ground, Solar Tracker, Fixed Rack Systems.

By Application: Commercial, Residential, Utility.

Regional Analysis:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Solar Panel manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Solar Panel in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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People Also Ask:

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