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Residential Solar PV Module Market Share

Report ID: GMI7774
Published Date: Jan 2024
Report Format: PDF

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Company Market Share

The major market players are focusing on mergers & acquisitions, facility expansion, and strategic partnerships to expand their product offerings, customer reach, and enhance market presence. Companies focusing on acquisition strategy along with the geographical expansion of key players are anticipated to intensify the market competition over the forecast timeframe. An acquisition strategy enables a company to enter new markets and product lines instantaneously with a recognized brand having a good reputation and an existing client base.

Company Market Companies

Eminent players operating in the Residential Solar PV Module industry are:

Trina Solar
Canadian Solar
JinkoSolar
First Solar
The Solaria Corporation
LG Electronics
Yingli Solar
Shunfeng International Clean Energy Co., Ltd
RENESOLA
Motech Industries Inc.
SOLAR FRONTIER K.K.
SunPower Corporation
RISEN ENERGY Co., LTD
Indosolar
VIKRAM SOLAR LTD
LONGi

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Residential solar PV module industry size was valued at more than USD 48.4 billion in 2023 and is anticipated to reach more than USD 78.4 billion by 2032, as they enable homeowners to generate clean and renewable energy for their homes.

The on-grid segment will grow at a rate of over CAGR 5% through 2032 owing to their contribution towards growing electricity demand especially during peak hours, coupled with businesses adopting these systems as a part of their sustainability initiatives.

Asia pacific residential solar PV module market will grow at a CAGR of more than 3.5% by 2032, attributed to the growing environmental awareness along with increasing emphasis on sustainable living.

Trina Solar, Canadian Solar, JinkoSolar, First Solar, The Solaria Corporation, LG Electronics, Yingli Solar, Shunfeng International Clean Energy Co., Ltd, RENESOLA, Motech Industries Inc., SOLAR FRONTIER K.K., SunPower Corporation, RISEN ENERGY Co., LTD, Indosolar, VIKRAM SOLAR LTD and LONGi