Europe Solar PV Module Market Size - By Technology (Thin Film, Crystalline Silicon), Product (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon), Connectivity (On-Grid, Off-Grid), Mounting (Ground Mounted, Rooftop), 2025 – 2034

Europe Solar PV Module Market Size

Europe Solar PV Module Market was valued at USD 63.1 billion in 2024 and is estimated to grow at a CAGR of 7% from 2025 to 2034. A solar photovoltaic (PV) module is a device that converts sunlight into electrical energy using photovoltaic (solar) cells. It is the most common component used in solar energy systems. The modules are typically arranged in panels, which are connected together to form larger arrays capable of generating more power.
 

Installing solar PV modules with energy storage solutions, such as batteries, allows for the storage of excess solar energy. This stored energy can be used during periods of low sunlight or high demand, enhancing grid stability and promoting energy self-sufficiency. Integrating advanced monitoring and digital technologies into solar PV systems optimizes performance, enables predictive maintenance, and improves overall system efficiency, strengthening the business landscape. Additionally, the increasing demand for electricity and a positive outlook on renewable energy solutions will drive the industry dynamics.
 

Introduction of clean energy targets by developing economies is set to reshape the industry landscape. Strategic contracts and collaborations among key industry players coupled with the ongoing expansion of large-scale, grid-connected power generation systems, are poised to bolster the business outlook. Shifting focus to adopt renewable energy systems along with Ongoing research and development activities focusing on development of advanced technologies featured with optimized performance characteristics of various components and modules will drive the business outlook.
 

Europe Solar PV Module Market Trends

Increasing adoption of solar projects, supported by regulatory frameworks, is transforming the market growth. Rising solar development facilities and growing investments from both private and public sectors are driving the push for cost-effective clean electricity generation. Additionally, government legislations and schemes aim to expand solar energy infrastructure and reduce household dependency on fossil fuels. Additionally, strategic investments and the ongoing development of large-scale projects in both the private and public sectors are set to enhance the market potential.
 

Europe Solar PV Module Market Analysis

Based on technology, the crystalline segment is set to hit USD 116 billion by 2034. Streamlined manufacturing processes and a consistent decline in module costs have positively influenced the business statistics. Modules with higher efficiency can harness more electricity from the same sunlight, making them ideal for space-constrained installations. Furthermore, advancements in high-performance solar technologies by key players will further bolster the market potential.
 

Based on connectivity, the on grid is predicted to grow more than CAGR 6.5% through 2034, on account of growing focus on sustainability and the recycling of end-of-life solar panels. Increasing integration of advanced technology with on-grid solar PV modules coupled with an expanding array of financing options and incentives for system installations will augment the industry landscape. Additionally, growing interest in reducing reliance on conventional fuels will drive the market growth.
 

Germany solar PV module market is projected to surpass USD 50 billion by 2034, owing to strategic government roadmaps and heightened local government interventions. Collaborations, including partnerships, joint ventures, and mergers, between solar developers and state-owned companies are set to boost both rooftop and ground-mounted solar installations in commercial and industrial sectors. Furthermore, increasing focus on expanding solar infrastructure is poised to influence the business statistics.
 

Europe Solar PV Module Market Share

The solar photovoltaic (PV) module industry in Europe is dynamic and highly competitive, with several key players across the supply chain, ranging from module manufacturers to developers and system integrators. European companies are working to ramp up the domestic production. Additionally, the EU has set up plans including the European Solar PV Alliance to boost local manufacturing and reduce reliance on external supply chains.
 

Europe Solar PV Module Market Companies

Eminent players operating in the Europe solar PV module industry are:

• BELECTRIC
• Canadian Solar
• CsunSolarTech
• Eternia Solar
• EMMVEE SOLAR
• First Solar
• JA SOLAR Technology
• JinkoSolar
• LG Electronics
• LONGi
• REC Solar Holdings
• RENESOLA
• Shunfeng International Clean Energy
• SOLAR FRONTIER K.K.
• The Solaria Corporation
• Trina Solar
• Vikram Solar
• Yingli Solar 
   

Europe Solar PV Module Industry News:

• In June 2023, Solarwatt installed its ten millionth solar PV Module on the rooftop of a single-family home in UK. The solar installation features an array of eighteen Panel Vision glass-glass solar modules, collectively generating an output of 7.2 kWp. These glass-glass panels boast solar cells encapsulated between two robust glass panes, enhancing their durability compared to traditional glass-foil solar panels. This will further expand the company’s presence in the UK.
   
• In December 2022, BELECTRIC secured a contract with Vantage RE Limited to construct two large-scale solar farms in England, boasting a combined capacity of over 100MWp. The project incorporates bifacial solar modules mounted on single-axis trackers utilizing advanced technology. Collectively, these solar modules are poised to generate sufficient green energy to power approximately 37,000 homes. Moreover, this contract not only underscores the company's proficiency in handling large-scale projects but also solidifies its robust standing in the UK market.
   

The Europe solar PV module market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Million and MW ” from 2021 to 2034, for the following segments:

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Market, By Technology

• Thin Film
• Crystalline Silicon

Market, By Product

• Monocrystalline
• Polycrystalline
• Cadmium Telluride
• Amorphous Silicon
• Copper Indium Gallium Diselenide

Market, By Connectivity

• On Grid
• Off Grid

Market, By Mounting

• Ground Mounted
• Roof Top

Market, By End Use

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• Austria
• Norway
• Denmark
• Finland
• France
• Germany
• Italy
• Switzerland
• Spain
• Sweden
• UK
• Netherlands
• Poland
• Belgium
• Ireland
• Baltics
• Portugal