Home > Energy & Power > Electrical Equipment > Solar Parts and Components > Commercial and Industrial Solar PV Module Market

Commercial and Industrial Solar PV Module Market Trends

Report ID: GMI7859
Published Date: Jan 2024
Report Format: PDF

Download Free Sample

Commercial & Industrial Solar PV Module Market Trends

Financial benefit comprising of reduced dependence on the grid and long-term energy cost savings in line with international agreements and initiatives to transition towards a low-carbon economy will boost the product demand. For instance, in February 2023, the European Commission initiated the Green Deal Industrial Plan which aims to support the scaling up of Europe’s manufacturing capacity for the net zero technologies to meet ambitious climate targets. Therefore, large scale deployment of these systems along with high investments for solar PV installation will complement the business growth.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of commercial & industrial solar PV module reached USD 41.1 billion in 2023 and is set to surpass USD 72 billion by 2032, owing to the steady decrease in the cost of solar PV technology coupled with growing number of businesses committing to sustainability goals and environmental responsibility.

Roof top commercial & industrial solar PV module industry will cross USD 31.7 billion by 2032, due to its capability to reduce transmission and distribution losses associated with transporting electricity over long distances along with growing emphasis and governmental support on net metering policy.

Asia Pacific market size will record more than 7% CAGR from 2024 to 2032, attributed to the growing awareness of environmental sustainability and corporate social responsibility in line with supportive regulatory frameworks.

Trina Solar, Canadian Solar, JA SOLAR Technology Co. Ltd, JinkoSolar, First Solar, REC Solar Holdings AS, Hanwha Group, LG Electronics, SunPower Corporation, LONGi, CHINT Solar, and Reliance Industries Limited.