What is the market share of solar energy in 2024?

By technology, solar photovoltaic commanded 99.6% of the solar energy market share in 2024; concentrated solar power lags with 0.4% but still offers niche benefits such as long-duration thermal storage.

What is the global solar power market size?

Our premium consulting services are available for an additional fee is designed to help you gain a competitive edge. The global solar power market size was valued at USD 253.69 billion in 2023 and is projected to be worth USD 273 billion in 2024 and reach USD 436.36 billion by 2032, exhibiting a CAGR of 6% during the forecast period.

How big is solar panels market?

Solar Panels Market Grow at a ~12.63% CAGR, to reach USD 282.4 Billion by growing solar systems, transparent panels, initiatives & policies for reduction in carbon emission till 2030. Solar Panel Industry Analysis by Size, Share, Trends, Companies, Regions and Forecast 2024 - 2030.

Which country will dominate the solar power market?

Asia Pacific is expected to dominate the solar power market share during the forecast period, with most of the demand arriving from China. The country is one of the major producers and consumers of solar energy globally. The country is highly dependent on conventional resources and installing more renewable sources.

How is the solar energy industry segmented?

The global Solar Energy industry is segmented based on technology, solar module, application, end-use, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2025 to 2034.

How big is the solar panels market in 2022?

The solar panels market is projected to grow from USD 131.37 billion in 2022 to reach USD 282.4 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of ~12.63%. during the forecast period (2024 - 2030). Solar Panels industry size was valued at USD 84.35 billion in 2021.