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Solar Photovoltaic (PV) Market Share

Report ID: GMI5407
Published Date: Jul 2024
Report Format: PDF

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Solar PV Market Share

The solar PV industry owing to continuous technological advancements and rapid product developments has witnessed immense competition. Increasing government funding schemes & subsidies favor startups and attract new investments across the industry. Production facilities & product customization deals with the increasing demand for flexible technological offerings that have been the major strategical implication across the industry landscape.

Solar PV Market Companies

Eminent players operating in the solar PV industry are:

ArcelorMittal
Array Technologies, Inc.
Arctech
All Earth Renewables
Convert Italia
DEGERENERGIE GMBH & CO. KG
GameChange Solar
Gonvarri Solar Steel
Haosolar Co. Ltd
IDEEMATEC
MECASOLAR
NCLAVE
Nextracker Inc.
Powerway Renewable Energy Co., Ltd
PVHardware
Scorpius Trackers
SmartTrak Solar Systems (Pvt) Ltd.
SOLTEC
STI Norland
SunPower Corporation
Trina Solar

Authors: Ankit Gupta, Sristhi Agrawal

Frequently Asked Questions (FAQ) :

The market size of solar PV was reached USD 289.6 billion in 2023 and will expand at an 8.3% CAGR between 2024 and 2032, driven by increasing demand for renewable energy, government incentives and subsidies, and technological advancements improving efficiency.

Solar PV industry from the rooftop segment will grow at more than 8% CAGR up to 2032, due to increasing urbanization and the rising demand for decentralized energy solutions.

Asia Pacific solar PV industry will surpass USD 362.4 billion by 2032, owing to rapid industrialization, urbanization, and increasing energy demands in countries like China, India, and Japan.

Key players operating in the solar PV industry are ArcelorMittal, Array Technologies, Inc., All Earth Renewables, Convert Italia, DEGERENERGIE GMBH & CO. KG, IDEEMATEC, MECASOLAR, NCLAVE, SOLTEC, STI Norland, SunPower Corporation, and Trina Solar, among others.