ソーラーパネルの世界市場規模、シェア、動向、予測：タイプ別、最終用途別、地域別（2025年～2033年）

世界のソーラーパネルの市場規模は、2024年に303.4ギガワットとなりました。IMARC Groupは、今後、2033年には1,168.4ギガワットに達し、2025年～2033年に16.2%のCAGRを示すと予測しています。現在、アジア太平洋が市場を独占しており、2024年の市場シェアは52.0％を超えています。ソーラーパネル市場のシェアは、個人の環境に対する関心の高まり、数カ国の政府機関による厳格な炭素規制政策の実施、材料や設計の技術的進歩によって拡大しています。

この市場で見られる非常に重要な動向の1つは、世界の再生可能エネルギーの推進です。世界中の政府は、気候変動の観点から、再生可能エネルギーの高い目標を設定しています。多くの国が、固定価格買取制度、ネットメータリング、再生可能エネルギー・ポートフォリオ基準など、太陽光発電の利用を促進するための政策枠組みを導入しています。住宅や商業施設への設置が増加しているため、市場は着実に成長しています。環境意識の高まりもソーラーパネルの普及を後押ししています。人々や企業は、二酸化炭素排出量を削減するために、グリーンエネルギー・ソリューションを選ぶようになっています。企業の社会的責任（CSR）を重視する企業は、持続可能性への取り組みの一環として太陽エネルギーに投資しています。

米国は、いくつかの要因からソーラーパネル市場の主要地域として浮上しています。市場で最も顕著な動向の1つは、さまざまな分野で太陽エネルギーの導入が進んでいることです。住宅への導入は、電気料金の削減とエネルギーの自給自足を求める住宅所有者により着実に伸びており、ソーラーパネル市場の見通しを良好なものにしています。商業・産業（C&I）部門の運営コストは、持続可能性という目標と相まって大幅に減少しています。電力会社規模の太陽光発電プロジェクトは急激に増加しており、価格低下とクリーンエネルギーへの高い需要に応えています。大半の州ではネットメータリングが認められており、住宅所有者や企業は余剰エネルギーを送電網に売ることができます。このため、収益は送電網への売電だけでなく、太陽再生可能エネルギークレジット（SREC）からも得ることができます。こうして、太陽光発電システムの経済性が向上します。2024年、米国は国中の高速道路に520億枚以上のソーラーパネルを設置するという、最大級のソーラー・プロジェクトを開始しました。この措置は、同国におけるクリーンエネルギーの雇用を強化するためにとられました。

ソーラーパネル市場の動向：

環境問題への関心の高まり

環境問題への関心の高まりからソーラーパネルの需要が高まっていることは、市場にとってプラスです。これに伴い、気候変動や環境中の炭素排出を削減する必要性が高まっており、市場の成長を支えています。さらに、電力生産のための化石燃料の使用は、大気中の熱を吸収し地球を温暖化させるGHGの大量排出につながります。グローバル・カーボン・バジェットでは、CO2排出総量は2024年までに416億トンになり、昨年の406億トンから増加すると予測しています。このうち化石燃料は374億トンで、残りは森林破壊が占めるとWMOは報告しています。もう1つの、より原始的でクリーンな方法は、ソーラーパネルを通して発せられるものです。さらに、二酸化炭素排出量と環境への影響を削減し、持続可能性の目標を維持するために、組織でソーラーパネルの採用が増加していることが、市場の成長を促しています。これに加え、ソーラーパネルは太陽の力を利用することで、この目標を達成するための利用しやすい手段を提供します。さらに、より環境に優しい環境を促進する再生可能エネルギー源のニーズが高まっています。

政府の積極的な取り組み

いくつかの国の政府機関は、厳しい炭素規制政策を実施することでソーラーパネルの採用を奨励しており、これがソーラーパネル市場の成長を促進しています。欧州議会は欧州気候法を採択し、2030年までに温室効果ガスの純排出量を55%削減し、2050年までに気候変動を中立化することを法的拘束力としています。また、納税者がソーラーパネルシステムにかかる費用の一定割合を税額控除として受けられる税額控除も提供されています。このほかにも、こうした政策や財政的インセンティブは、人々や組織が太陽エネルギー・システムに投資する動機付けとなっています。さらに、リベートや補助金を提供することで、設置の初期費用や設置費用を即座に減少させ、費用対効果をさらに高めています。もう1つのインセンティブは、ネットメータリングと呼ばれる政策によるもので、ソーラーパネルを設置した人が、余剰分を送電網に売ることができるようにするものです。また、固定価格買取制度（FIT）により、電気料金の固定報酬が保証されます。これらのインセンティブは、設置にかかる経済的負担を軽減するだけではありません。さらに、より効率的で費用対効果の高いソーラーパネル技術の開発が進んでいることも、市場の成長に寄与しています。

ソーラーパネル設計の技術的進歩

ソーラーパネルの技術改良は、効率性、耐久性、費用対効果の向上に寄与しています。また、単結晶や二面体のソーラーパネルは、同じ量の太陽光を使用してより多くの電力を生産できるため、他のものよりも効率的です。また、製造工程における技術革新により、パネルのコストが削減され、市場の成長を支えています。さらに、材料や設計の進歩により、パネルの耐久性と寿命がさらに向上しており、エネルギー生成において効率的で信頼性の高いパネルであることが保証されています。環境に優しいだけでなく、こうした技術進歩は、ソーラーパネル購入者の投資収益率（ROI）を高めることで投資家にも利益をもたらします。これに伴い、自然光を透過させながら窓や天窓、建物のファサードに組み込むことができる透明パネルの開発が増加しており、市場の成長を促しています。さらに、統合センサーと監視システムを備えたスマートパネルは、エネルギー生産とシステムの健全性に関するリアルタイムのデータを提供し、ソーラーパネル市場の需要を促進しています。世界の人工知能（AI）市場規模は、2024年に1,156億2,000万米ドルと評価されました。AIと機械学習（ML）アルゴリズムは、発電量の予測、追跡システムの改善、メンテナンスコストの削減など、パネルの性能を最適化するために採用されています。

目次

第1章 序文

第2章 調査範囲と調査手法

• 調査の目的
• ステークホルダー
• データソース
  • 一次情報
  • 二次情報
• 市場推定
  • ボトムアップアプローチ
  • トップダウンアプローチ
• 予測手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

• 概要
• 主要業界動向

第5章 世界のソーラーパネル産業

• 市場概要
• 市場実績
  • 数量動向
  • 金額動向
• COVID-19の影響
• 価格動向
• 市場内訳：タイプ別
• 市場内訳：地域別
• 市場内訳：最終用途別
• 市場予測
• SWOT分析
  • 強み
  • 弱み
  • 機会
  • 脅威
• バリューチェーン分析
• ポーターのファイブフォース分析
  • 概要
  • 買い手の交渉力
  • 供給企業の交渉力
  • 競合の程度
  • 新規参入業者の脅威
  • 代替品の脅威
• ソーラーパネルメーカーの主な成功要因とリスク要因

第6章 市場内訳：タイプ別

• 結晶シリコン
• 単結晶シリコン
• 多結晶シリコン
• 薄膜
• その他

第7章 主要地域の実績

• アジア太平洋
  • 市場動向
  • 市場予測
• 北米
  • 市場動向
  • 市場予測
• 欧州
  • 市場動向
  • 市場予測
• ラテンアメリカ
  • 市場動向
  • 市場予測
• 中東・アフリカ
  • 市場動向
  • 市場予測

第8章 市場内訳：最終用途別

• 商業
• 住宅
• 産業

第9章 競合情勢

• 市場構造
• 主要企業の能力

第10章 ソーラーパネル製造プロセス

• 製品概要
• 詳細なプロセスフロー
• 製造工程に含まれる様々な種類の運用単位
• マスバランスと原材料要件

第11章 プロジェクトの詳細・要件・費用

• 土地要件と費用
• 建設要件と費用
• 工場の機械
• 原材料の要件と支出
• 包装の要件と支出
• 輸送の要件と支出
• ユーティリティの要件と支出
• 人員要件と支出
• その他の設備投資

第12章 融資と資金援助

第13章 プロジェクトの経済性

• プロジェクトの資本コスト
• 技術経済的パラメーター
• サプライチェーンの各段階における製品価格とマージン
• 課税と減価償却
• 収入予測
• 支出予測
• 財務分析
• 利益分析

第14章 主要企業のプロファイル

• Jinko Solar
• Trina Solar
• Canadian Solar
• JA Solar
• Hanwha Q-CELLS
• GCL-SI
• LONGi Solar
• Risen Energy
• Shunfeng
• Yingli Green

List of Figures

• Figure 1: Global: Solar Panel Market: Major Drivers and Challenges
• Figure 2: Global: Solar Panel Market: Volume Trends (in Gigawatt), 2019-2024
• Figure 3: Global: Solar Panel Market: Value Trends (in Billion USD), 2019-2024
• Figure 4: Global: Solar Panel Market: Price Trends (in USD/Watt), 2019-2024
• Figure 5: Global: Solar Panel Market: Breakup by Type (in %), 2024
• Figure 6: Global: Solar Panel Market: Breakup by Region (in %), 2024
• Figure 7: Global: Solar Panel Market: Breakup by End Use (in %), 2024
• Figure 8: Global: Solar Panel Market Forecast: Volume Trends (in Gigawatt), 2025-2033
• Figure 9: Global: Solar Panel Market Forecast: Value Trends (in Billion USD), 2025-2033
• Figure 10: Global: Solar Panel Industry: SWOT Analysis
• Figure 11: Global: Solar Panel Industry: Value Chain Analysis
• Figure 12: Global: Solar Panel Industry: Porter's Five Forces Analysis
• Figure 13: Global: Crystalline Silicon Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 14: Global: Crystalline Silicon Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 15: Global: Monocrystalline Silicon Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 16: Global: Monocrystalline Silicon Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 17: Global: Polycrystalline Silicon Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 18: Global: Polycrystalline Silicon Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 19: Global: Thin Film Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 20: Global: Thin Film Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 21: Global: Other Type of Solar Panel Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 22: Global: Other Type of Solar Panel Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 23: Asia Pacific: Solar Panel Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 24: Asia Pacific: Solar Panel Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 25: North America: Solar Panel Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 26: North America: Solar Panel Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 27: Europe: Solar Panel Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 28: Europe: Solar Panel Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 29: Middle East and Africa Solar Panel Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 30: Middle East and Africa Solar Panel Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 31: Latin America: Solar Panel Market: Volume Trends (in Megawatt), 2019 & 2024
• Figure 32: Latin America: Solar Panel Market Forecast: Volume Trends (in Megawatt), 2025-2033
• Figure 33: Global: Solar Panel Market (Commercial Applications): Volume Trends (in Megawatt), 2019 & 2024
• Figure 34: Global: Solar Panel Market Forecast (Commercial Applications): Volume Trends (in Megawatt), 2025-2033
• Figure 35: Global: Solar Panel Market (Residential Applications): Volume Trends (in Megawatt), 2019 & 2024
• Figure 36: Global: Solar Panel Market Forecast (Residential Applications): Volume Trends (in Megawatt), 2025-2033
• Figure 37: Global: Solar Panel Market (Industrial Applications): Volume Trends (in Megawatt), 2019 & 2024
• Figure 38: Global: Solar Panel Market Forecast (Industrial Applications): Volume Trends (in Megawatt), 2025-2033
• Figure 39: Solar Panel Manufacturing Process: Detailed Process Flow
• Figure 40: Solar Panel Manufacturing Plant: Various Unit Operations Involved
• Figure 41: Solar Panel Manufacturing Process: Conversion Rate of Products
• Figure 42: Solar Panel Manufacturing Plant: Proposed Plant Layout
• Figure 43: Solar Panel Manufacturing Plant: Breakup of Capital Costs (in %)
• Figure 44: Solar Panel Industry: Breakup of Profit Margins at Various Level of the Value Chain
• Figure 45: Solar Panel Manufacturing Plant: Breakup of Operating Costs (in %)

List of Tables

• Table 1: Global: Solar Panel Market: Key Industry Highlights, 2024 and 2033
• Table 2: Global: Solar Panel Market Forecast: Breakup by Type (in Megawatt), 2025-2033
• Table 3: Global: Solar Panel Market Forecast: Breakup by Region (in Megawatt), 2025-2033
• Table 4: Global: Solar Panel Market Forecast: Breakup by End Use (in Megawatt), 2025-2033
• Table 5: Global: Solar Panel Market: Competitive Structure
• Table 6: Global: Solar Panel Market: Capacities of Key Players
• Table 7: Solar Panel Manufacturing Plant: Raw Material Requirements
• Table 8: Solar Panel Manufacturing Plant: Costs Related to Land and Site Development (in USD)
• Table 9: Solar Panel Manufacturing Plant: Costs Related to Civil Works (in USD)
• Table 10: Solar Panel Manufacturing Plant: Machinery Costs (in USD)
• Table 11: Solar Panel Manufacturing Plant: Raw Material Requirements and Expenditure
• Table 12: Solar Panel Manufacturing Plant: Costs Related to Utilities
• Table 13: Solar Panel Manufacturing Plant: Costs Related to Salaries and Wages (in USD)
• Table 14: Solar Panel Manufacturing Plant: Costs Related to Other Capital Investments (in USD)
• Table 15: Details of Financial Assistance Offered by Financial Institutions
• Table 16: Solar Panel Manufacturing Plant: Capital Costs (in USD)
• Table 17: Solar Panel Manufacturing Plant: Techno-Economic Parameters
• Table 18: Solar Panel Manufacturing Plant: Income Projections (in USD)
• Table 19: Solar Panel Manufacturing Plant: Expenditure Projections (in USD)
• Table 20: Solar Panel Manufacturing Plant: Taxation (in USD)
• Table 21: Solar Panel Manufacturing Plant: Depreciation (in USD)
• Table 22: Solar Panel Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
• Table 23: Solar Panel Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability
• Table 24: Solar Panel Manufacturing Plant: Profit and Loss Account (in USD)

The global solar panel market size was valued at 303.4 Gigawatt in 2024. Looking forward, IMARC Group estimates the market to reach 1,168.4 Gigawatt by 2033, exhibiting a CAGR of 16.2% from 2025-2033. Asia Pacific currently dominates the market, holding a market share of over 52.0% in 2024. The solar panel market share is expanding, driven by the rising environmental concerns among individuals, implementation of stringent carbon control policies by governing agencies of several countries, and technological advancements in materials and designs.

One of the very essential trends seen within this market is the promotion of renewable energy worldwide. Governments across the globe have set high renewable energy targets in light of climate change. Many countries introduce policy frameworks to promote the use of solar power, including feed-in tariffs, net metering, and renewable portfolio standards. The increase in residential and commercial installations has resulted in steady market growth. Rising environmental awareness is also helping in the adoption of solar panels. People and businesses are now opting for green energy solutions to reduce their carbon footprint. With an emphasis on corporate social responsibility (CSR), companies are investing in solar energy as part of their sustainability initiatives.

The United States has emerged as a major region in the solar panel market due to several factors. One of the most prominent trends in the market is the increasing deployment of solar energy across various sectors. Residential installations have grown steadily as homeowners seek to reduce electricity bills and gain energy independence, thereby offering a favorable solar panel market outlook. The operational costs for the commercial and industrial (C&I) sector have decreased by a significant number, coupled with their goals in terms of sustainability. Utility-scale solar projects are drastically on the rise and have been so in response to the decreased prices and the high demand for clean energy. The majority of states allow net metering, meaning homeowners and businesses can sell back their excess energy into the grid. The revenues could thus be drawn not only from selling electricity to the grid but also from Solar Renewable Energy Credits (SRECs). Thus, the financial viability of the solar systems improves. In 2024, the US inaugurated one of the biggest solar projects by putting over 52 Billion solar panels on highways all over the country. This step was taken in order to enhance the employment of clean energy in the country.

Solar Panel Market Trends:

Increasing environmental concerns

The escalating demand for solar panels because of the heightened environmental concerns of individuals is proving to be a positive market aspect. In keeping with this, the increasing necessity to reduce climate change and the carbon emissions present in the environment is supporting the growth of the market. Furthermore, the use of fossil fuels for electricity production leads to a significant amount of GHG emissions, which absorb heat in the atmosphere and warm the Earth. The Global Carbon Budget projects that the total amount of CO2 emissions will be 41.6 Billion Tons by 2024, with an increase from the last year's value of 40.6 Billion Tons. From it, fossil fuel is claimed at 37.4 billion Tons and deforestation accounted for the rest- as reported by the WMO. Another more pristine clean way is that which emanates through Solar Panels - minimizing carbon by tons, aiding and further enhancing globalization in achieving these climatic missions towards having an ecofriendly atmosphere. Furthermore, the increasing adoption of solar panels in organizations to reduce their carbon footprint and environmental impact and maintain sustainability goals is impelling the market growth. Besides this, solar panels provide an accessible means to achieve this goal by harnessing the power of the sun. Additionally, there is a rise in the need for renewable energy sources that promote a greener environment.

Favorable government initiatives

Governing agencies of several countries are encouraging the adoption of solar panels by implementing stringent carbon control policies, which are propelling the solar panel market growth. The European Parliament has adopted the European Climate Law, which makes it legally binding to lower net greenhouse gas releases by 55% by 2030 and climate neutrality by 2050. They are also providing tax credits, wherein taxpayers get a percentage of the cost of their solar panel system as a tax deduction. Other than this, these policies and financial incentives motivate people and organizations to invest in solar energy systems. Additionally, it provides rebates or subsidies which immediately decrease the initial cost for the installation and installation costs making them even more cost-effective. Another incentive would be through policies called net metering which help those with installed solar panels generate an opportunity of selling surplus to the grid in turn. And through feed-in tariffs, that assure fixed compensation to be gained on electricity. These incentives not only reduce the financial burden of solar panel installation. Additionally, the rising development of more efficient and cost-effective solar panel technologies is contributing to the growth of the market.

Technological Advancements in solar panel design

Technological improvements in solar panels benefit from improved efficiency, durability, and cost-effectiveness. Besides that, monocrystalline and bifacial solar panels are also more efficient than others as they can produce more electricity using the same amount of sunlight. The innovations in the manufacturing process are also reducing the cost of the panels, thus supporting the market growth. In addition, material and design advancements further enhance the panel's durability and lifespan such that these panels are guaranteed to be efficient and reliable in energy generation. Besides being environmentally friendly, these technological advancements benefit the investor by increasing the returns on investment (ROI) for a solar panel purchaser. In line with this, the increasing development of transparent panels that can be integrated into windows, skylights, and building facades while allowing natural light to pass through is impelling the market growth. Moreover, smart panels equipped with integrated sensors and monitoring systems provide real-time data on energy production and system health, thereby driving the solar panel market demand. The global artificial intelligence (AI) market size was valued at USD 115.62 Billion in 2024. AI and machine learning (ML) algorithms are employed in panels to optimize their performance by predicting energy generation, improving tracking systems, and reducing maintenance costs.

Solar Panel Industry Segmentation:

Analysis by Type:

• Crystal Silicon
• Monocrystalline Silicon
• Polycrystalline Silicon
• Thin Film
• Others

Crystal silicon is the biggest segment. A crystal silicon panel is one where single or several crystalline structures of silicon act as a semiconductor material, enabling it to change sunlight into electricity through photovoltaic effect. Moreover, electricity produced by these solar cells comes in direct current (DC) form and thus can be supplied to the many electrical devices for use or sent to storage within batteries for further use. Aside from these, a sheet of many silicon solar cells forms the outermost layer of a solar panel. Upon illumination of these cells with sunlight, silicon excites their electrons to an electric current. Since these types of silicon-based panels produce much more power than other technologies in a unit area, crystalline silicon panels find great usage for space-sensitive application such as household rooftops and urban use areas. Monocrystalline silicon panels, in particular, have a higher power density, allowing for maximum electricity generation in constrained areas.

Analysis by End Use:

• Commercial
• Residential
• Industrial

Commercial holds the highest market share. It encompasses business, offices, schools, and institutions. Commercial installations are typically larger than residential and power commercial buildings and facilities. As a result of the cost-effectiveness, the adoption of solar panels in the commercial sector is increasing and thus the market. In addition, companies have been adopting the panels to eliminate the carbon footprint and to show corporate social responsibility. Many companies embrace solar energy through net metering programs, which enable businesses to sell excess electricity back to the grid. This not only reduces energy costs but also creates an additional revenue stream. In addition, solar energy provides long-term financial stability by protecting businesses from rising utility rates. With the declining cost of solar technology, the return on investment (ROI) for commercial solar installations has become increasingly attractive.

Regional Analysis:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East and Africa

Asia Pacific holds 52.0% of the market share. It stands as a key region in the market, driven by the increasing adoption of renewable energy sources. Apart from this, the rising awareness among individuals about environmental issues is bolstering the market growth. Furthermore, the rising desire for energy independence among individuals is contributing to the growth of the market. In line with this, advancements in solar technology and manufacturing capabilities in Asia Pacific benefit in increasing efficiency and reducing the costs of these panels. The Asia-Pacific region is witnessing increased adoption of floating solar farms, particularly in countries with limited land availability for large-scale solar installations. Floating solar projects, also known as floating photovoltaic (FPV) systems, are installed on reservoirs, lakes, and other water bodies to maximize land use efficiency. On November 9, 2023, Indonesia's President Joko Widodo launched Southeast Asia's biggest floating solar energy facility in the West Java province of Indonesia. It is the world's third-largest floating solar power station.

Key Regional Takeaways:

United States Solar Panel Market Analysis

The market in the US is expanding, fueled by government support, advancements in technology, and greater awareness of sustainability issues. As of 2024, industry reports indicate that approximately 4.2 million homes in the United States are equipped with solar panels, with each roof having about 25 to 30 panels. Essential policies like the federal Investment Tax Credit (ITC), state-specific rebates, and renewable energy requirements are crucial in lowering installation expenses and enhancing the accessibility of solar energy. Advancements in solar efficiency and energy storage are bolstering the practicality of solar energy, as the increasing trend of energy independence fuels consumer uptake. Additionally, increasing electricity costs and environmental issues are driving both companies and residences to seek cleaner energy options. Major corporations are also pledging to sustainability objectives, thereby boosting solar demand in the commercial and industrial sectors. In general, the synergy of policy backing, technological advancements, and market need is anticipated to drive ongoing expansion in the U.S. solar panel industry.

Europe Solar Panel Market Analysis

Europe's market is thriving, spurred by the European Union's ambitious renewable energy policies. According to EEA, in 2023, renewable energy accounted for 24.1% of the EU's final energy use, reflecting the continent's dedication to reducing carbon emissions. The EU's Green Deal aims for carbon neutrality by 2050, driving further demand for solar energy. National governments have implemented incentives, tax breaks, and subsidies to support solar installations in residential, commercial, and industrial sectors. Energy security concerns, particularly following geopolitical developments, have reinforced the shift to renewable energy sources. Additionally, technological innovations like bifacial panels and energy storage systems have made solar power more efficient and reliable. Leading markets such as Germany, Spain, and France continue to promote aggressive solar adoption policies, with businesses and consumers alike investing in solar solutions to meet sustainability goals. Public awareness of environmental issues, combined with efforts to reduce energy costs, has made solar energy an increasingly attractive option across Europe. These factors position the European solar market for sustained growth and success in the coming years.

Asia Pacific Solar Panel Market Analysis

The Asia Pacific market is seeing swift expansion, propelled by robust government backing and increasing energy needs. As reported by PIB, India has recently exceeded 200 GW in renewable energy capacity, in line with its goal of reaching 500 GW from non-fossil sources by the year 2030. China continues to be a world leader in solar panel manufacturing, driving the growth of solar energy throughout the area. Nations such as Japan, India, and South Korea are vigorously encouraging solar energy use by implementing supportive policies, including subsidies and feed-in tariffs. Moreover, the rising industrialization and urbanization in the region boost the need for sustainable, dependable energy solutions. With rising worries over air pollution and energy security, businesses and governments are increasingly looking to solar energy to satisfy their sustainability targets. Technological innovations, including enhanced solar panels and better storage solutions, further aid in the growth of the market. Solar energy is increasingly seen as a vital answer to fulfill the area's energy requirements and ecological objectives.

Latin America Solar Panel Market Analysis

The market in Latin America is being driven by significant growth in Brazil, which leads the region in clean energy investments, accounting for over 80% of the total in 2023. This boom is primarily fueled by the rapid rise of small-scale solar plants, each with a capacity of 5 megawatts or less. As a result, Brazil has become the world's third-largest solar market, surpassing even Germany and India. The expansion of solar installations in Brazil is not only reshaping the country's energy landscape but also catalyzing wider adoption of solar energy across the region, further boosting the Latin American market.

Middle East and Africa Solar Panel Market Analysis

The market in the Middle East and Africa (MEA) is expanding, with the UAE leading the charge. According to industry reports, oil and gas exports now contribute to only about 30% of the UAE's economic activity, while clean energy is rapidly increasing. The country's renewable energy capacity grew by nearly 70% between 2022 and 2023, underscoring its transition toward sustainable energy. Solar power plays a pivotal role in this shift, supporting the UAE's strategy to diversify its energy sources, cut carbon emissions, and bolster its position in the global clean energy sector.

Competitive Landscape:

One of the primary ways leading solar companies are improving their business is by investing in advanced solar panel technologies. Companies are focusing on enhancing photovoltaic (PV) efficiency through innovations such as passivated emitter and rear cell (PERC) technology, bifacial solar panels, heterojunction (HJT) technology, and tandem solar cells. These advancements allow for higher energy output with reduced material usage, making solar power more cost-effective for consumers and businesses. To meet the growing demand for solar panels, key market players are expanding their production capacity and localizing manufacturing operations. For instance, in 2025, ES Foundry opened its high-volume solar cell production facility in South Carolina. Leading companies are securing long-term contracts for critical materials such as polysilicon, silver, and rare earth elements to ensure a stable supply. Some manufacturers are vertically integrating their operations by investing in in-house wafer, cell, and module production.

The report provides a comprehensive analysis of the competitive landscape in the solar panel market with detailed profiles of all major companies, including:

• Jinko Solar
• Trina Solar
• Canadian Solar
• JA Solar
• Hanwha Q-CELLS
• GCL-SI
• LONGi Solar
• Risen Energy
• Shunfeng
• Yingli Green

Key Questions Answered in This Report

• 1.How big is the solar panel market?
• 2.What is the future outlook of solar panel market?
• 3.What are the key factors driving the solar panel market?
• 4.Which region accounts for the largest solar panel market share?
• 5.Which are the leading companies in the global solar panel market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Solar Panel Industry

• 5.1 Market Overview
• 5.2 Market Performance
  • 5.2.1 Volume Trends
  • 5.2.2 Value Trends
• 5.3 Impact of COVID-19
• 5.4 Price Trends
• 5.5 Market Breakup by Type
• 5.6 Market Breakup by Region
• 5.7 Market Breakup by End Use
• 5.8 Market Forecast
• 5.9 SWOT Analysis
  • 5.9.1 Strengths
  • 5.9.2 Weaknesses
  • 5.9.3 Opportunities
  • 5.9.4 Threats
• 5.10 Value Chain Analysis
• 5.11 Porter's Five Forces Analysis
  • 5.11.1 Overview
  • 5.11.2 Bargaining Power of Buyers
  • 5.11.3 Bargaining Power of Suppliers
  • 5.11.4 Degree of Competition
  • 5.11.5 Threat of New Entrants
  • 5.11.6 Threat of Substitutes
• 5.12 Key Success Factors and Risk Factors for Solar Panel Manufacturers

6 Market Breakup by Type

• 6.1 Crystal Silicon
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Monocrystalline Silicon
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast
• 6.3 Polycrystalline Silicon
  • 6.3.1 Market Trends
  • 6.3.2 Market Forecast
• 6.4 Thin Film
  • 6.4.1 Market Trends
  • 6.4.2 Market Forecast
• 6.5 Others
  • 6.5.1 Market Trends
  • 6.5.2 Market Forecast

7 Performance of Key Regions

• 7.1 Asia Pacific
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 North America
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast
• 7.3 Europe
  • 7.3.1 Market Trends
  • 7.3.2 Market Forecast
• 7.4 Latin America
  • 7.4.1 Market Trends
  • 7.4.2 Market Forecast
• 7.5 Middle East and Africa
  • 7.5.1 Market Trends
  • 7.5.2 Market Forecast

8 Market Breakup by End Use

• 8.1 Commercial
  • 8.1.1 Market Trends
  • 8.1.2 Market Forecast
• 8.2 Residential
  • 8.2.1 Market Trends
  • 8.2.2 Market Forecast
• 8.3 Industrial
  • 8.3.1 Market Trends
  • 8.3.2 Market Forecast

9 Competitive Landscape

• 9.1 Market Structure
• 9.2 Capacities of Key Players

10 Solar Panel Manufacturing Process

• 10.1 Product Overview
• 10.2 Detailed Process Flow
• 10.3 Various Types of Unit Operations Involved
• 10.4 Mass Balance and Raw Material Requirements

11 Project Details, Requirements and Costs Involved

• 11.1 Land Requirements and Expenditures
• 11.2 Construction Requirements and Expenditures
• 11.3 Plant Machinery
• 11.4 Raw Material Requirements and Expenditures
• 11.5 Packaging Requirements and Expenditures
• 11.6 Transportation Requirements and Expenditures
• 11.7 Utility Requirements and Expenditures
• 11.8 Manpower Requirements and Expenditures
• 11.9 Other Capital Investments

12 Loans and Financial Assistance

13 Project Economics

• 13.1 Capital Cost of the Project
• 13.2 Techno-Economic Parameters
• 13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
• 13.4 Taxation and Depreciation
• 13.5 Income Projections
• 13.6 Expenditure Projections
• 13.7 Financial Analysis
• 13.8 Profit Analysis

14 Key Player Profiles

• 14.1 Jinko Solar
• 14.2 Trina Solar
• 14.3 Canadian Solar
• 14.4 JA Solar
• 14.5 Hanwha Q-CELLS
• 14.6 GCL-SI
• 14.7 LONGi Solar
• 14.8 Risen Energy
• 14.9 Shunfeng
• 14.10 Yingli Green