Solar PV Market Is Expected To Reach USD 609.30 Billion By 2030


 San Francisco, 17 December 2025: The Report Solar PV Market (2025 - 2030) Size, Share & Trends Analysis Report By Connectivity (On Grid, Off Grid), By Mounting (Ground Mounted, Roof Top), By End Use (Commercial & Industrial, Utility), By Region, And Segment Forecasts

The global solar PV market size is expected to reach 609.30 billion by 2030, expanding at a CAGR of 10.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. Rising demand for sustainable energy resources coupled with favorable regulatory policies is expected to drive the market growth over the forecast period.

Supportive regulations involving federal subsidy and incentives expected to be the prime factors impacting the industry growth on a positive note. Europe has been a major market for solar PV owing to the early adoption of the technology in the region owing to high consumer awareness and positive government outlook in the region.

Increasing demand for renewable energy sources owing to rising consumer awareness towards cost benefits associated with the technology is expected to propel growth. Furthermore, depleting fossil fuel resources coupled with the growing demand for durable energy sources is expected to have a positive impact on industry growth.

The technology offers low conversion efficiencies as compared to conventional energy sources including oil and biomass. Furthermore, the solar PV performance gets affected by various factors including the type of raw material used for solar cell manufacturing, availability of sunlight, and solar PV designs which is expected to hamper its growth over the forecast period.

Access Research Report of Solar PV Market @ https://www.grandviewresearch.com/industry-analysis/solar-pv-industry

Solar PV Market Report Highlights

  • On-grid connectivity dominated the market with a revenue share of 74.5% in 2024 and The off-grid segment is expected to register the fastest CAGR over the forecast period
  • The segment, ground mounted solar PVs held the largest market share in 2024 and Meanwhile, the rooftop segment is anticipated to witness the fastest growth from 2025 to 2030
  • Asia Pacific accounted for 55.6% of the total market share in 2024, on account of the favorable government regulations and initiatives taken by the government to install clean energy resources in order to curb the prevailing issue of pollution
  • The major players in the market are investing in R&D activities in order to come up with efficient and high-performance systems in order to tap the rising consumer attention and to compete with the alternative energy resources

Solar PV Market Report Scope

Report Attribute

Details

  Market size value in 2025

USD 368.66 billion

Revenue forecast in 2030

USD 609.30 billion

Growth Rate

CAGR of 10.6% from 2025 to 2030

Base year for estimation

2024

Historical data

2018 - 2023

Forecast period

2025 - 2030

Grand View Research has segmented the global solar PV market report based on, connectivity, mounting, end use, and region

Solar PV Connectivity Outlook (Volume, MW; Revenue, USD Billion, 2018 - 2030)

  • On Grid
  • Off Grid

Solar PV Mounting Outlook (Volume, MW; Revenue, USD Billion, 2018 - 2030)

  • Ground Mounted
  • Roof Top

Solar PV End Use Outlook (Volume, MW; Revenue, USD Billion, 2018 - 2030)

  • Residential
  • Commercial & Industrial
  • Utility

Solar PV Regional Outlook (Volume, MW; Revenue, USD Billion, 2018 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

List of Key Players of Solar PV Market

  • RENESOLA
  • KYOCERA Corporation
  • Hanwha Group
  • REC Solar, Inc.
  • Jinko Solar
  • JA SOLAR Technology Co., Ltd.
  • First Solar
  • Wuxi Suntech Power Co., Ltd.
  • Canadian Solar
  • Trinasolar
  • SHARP CORPORATION
  • SunPower Corporation
  • Yingli Solar

Access Press Release of Solar PV Market @ https://www.grandviewresearch.com/press-release/global-solar-pv-market

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

 

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