Global Solar PV Market Growth 2025-2031

The global Solar PV market size is predicted to grow from US$ 49380 million in 2025 to US$ 55520 million in 2031; it is expected to grow at a CAGR of 2.0% from 2025 to 2031.

Solar PV is one kind of device made from crystalline silicon or thin film which converts solar energy into electricity by a process known as the photovoltaic effect. The key indicator for solar PV is conversion efficiency.

The major players in global Solar PV market include Hanwha, Sharp, First Solar, etc., and the market concentration rate is low. China and Japan are main markets, they occupy about 50% of the global market. Crystalline Silicon is the main type, with a share about 90%. Ground Station is the main application, which holds a share over 60%.

LP Information, Inc. (LPI) ' newest research report, the “Solar PV Industry Forecast” looks at past sales and reviews total world Solar PV sales in 2024, providing a comprehensive analysis by region and market sector of projected Solar PV sales for 2025 through 2031. With Solar PV sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solar PV industry.

This Insight Report provides a comprehensive analysis of the global Solar PV landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Solar PV portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Solar PV market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solar PV and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solar PV.

This report presents a comprehensive overview, market shares, and growth opportunities of Solar PV market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Crystalline Silicon
Compound Type
Others

Segmentation by Application:
Residential
Commercial
Ground Station

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Hanwha
Sharp
First Solar
Kyocera Solar
SunPower
REC Group
Solar Frontier
Solarworld
NSP
SoloPower
Trina Solar
Yingli
Canadian Solar
Jinko Solar
JA Solar
ReneSola
Shunfeng
Chint Group
Hareonsolar
Eging PV
Risen
HT-SAAE
CSUN
BYD
Hanergy

Key Questions Addressed in this Report

What is the 10-year outlook for the global Solar PV market?

What factors are driving Solar PV market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Solar PV market opportunities vary by end market size?

How does Solar PV break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.