Solar Panels Market Trends, Share, Industry Size, Growth, Opportunities and Forecast 2017-2023

Solar Panels Market Research
Solar Panels Market By Technology (Solar PV, CSP) By Application (Residential, Commercial, Power Plants, Off Grid), Region (North America, Europe, Asia-Pacific and Rest of World) – Global Forecast to 2023

Market Highlights

The growth in Global Solar Panel Market is mainly driven by the enormous investment in renewable energy resources market, due to the thriving demand of energy by the rising population and stringent regulation by government to reduce greenhouse gas effect. Also, the gradual fall in the prices of industrial commodities used to manufacture solar panels, and rising price of electricity and natural gas sector in coming decade will drive the global solar panel market. Solar Panels Market is expected to grow with the CAGR of approximately 9% during the forecast period.


Key Players:

  • Trina Solar Limited (China),
  • Canadian Solar Inc. (Canada),
  • Jinko Solar Holding Co., Ltd. (China),
  • JA Solar Holdings Co., Ltd. (China),
  • Hanwha Q CELLS Co., Ltd., (South Korea),
  • First Solar, Inc. (U.S.A),
  • Yingli Solar (China),
  • Shunfeng International Clean Energy Ltd (Hong Kong),
  • ReneSola (China)
  • SunPower Corporation (U.S.A). 


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Market Research Analysis

Asia-Pacific is the biggest market for solar power; followed by Europe and then North America. China alone shares almost 44% of new solar photovoltaic (PV) capacity. Spain remained the global leader in existing concentrated solar power capacity (CSP), with 2.3 GW till the end of 2016, followed by the United States with just over 1.7 GW. These two countries accounted for over 80% of global installed capacity, in 2016. Rest of the world (ROW) is comprised of Brazil, Middle East, and Israel; which are gaining attention from the major players of the PV and the CSP market considering the potential that these regions hold.


Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Solar Panels Market Research Report- Global Forecast to 2023


Scope of the Report

This study provides an overview of the global solar panels market, tracking two market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global solar panels market by its application, by technology and by regions.

By Technology

  • Solar PV
  • Crystalline
  • Thin Film
  • CSP
  • Parabolic Troughs
  • Linear Fresnel Reflectors
  • Power Towers
  • Parabolic Dishes

By Application

  • Residential
  • Commercial
  • Power Plants
  • Off Grid

By Region

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  


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Solar PV dominates the market. 

Solar photo-voltaic holds the largest share in the solar panel market with the highest installed capacity of 303 GW till 2016. As, solar PV has experienced the highest number of innovations in manufacturing techniques and raw material price reduction as compared to CSP. Increase in global market share percentage of manufacturers from China, decrease in turnover margin, and vertical integration of PV components. China has become the largest PV exporter with three Chinese manufacturers among top five crystalline PV producers in 2016.


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