Global Solar Energy Market Size, Share & Trends Analysis Report, By Technology (Photovoltaic Systems, Concentrated Solar Power Systems), By Solar Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, Others), By Application (Residential, Commercial, Industrial), By End-User (Electricity Generation, Lighting, Heating, Charging), By Region, And Segment Forecasts, Till – 2030

Market Overview

According to Intellistic Research, the global solar energy market estimated at USD 91.00 billion in 2022 and will expand at a compound annual growth rate (CAGR) of 16.80% from 2023 to 2030. Key players in the solar energy market employ various strategies to maintain and enhance their market presence. These strategies help key players capture a significant market share and remain competitive in the dynamic solar energy market. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated includes proficient analysis, predictive analysis, prescriptive analysis, cumulative analysis, and value chain analysis.

SOLAR ENERGY MARKET DYNAMICS: KEY DRIVERS & RESTRAINTS

Increasing Environmental Concern Driving The Market Growth

The release of toxic greenhouse gases that cause air pollution is expected to increase environmental concerns, which will increase the demand for solar energy, which is a sustainable and clean source of energy. For example, replacing fossil fuels with solar power for energy generation can substantially decrease CO2 emissions, which contribute to global warming and climate change. Rising temperature causes extreme weather conditions and ecological changes. By decreasing the demand for fossil fuels and greenhouse gas emissions, the use of solar energy reduces the carbon footprint. This drives the market growth.

High Initial Expense Restraint The Market Growth

The fact that the prices of solar panels have decreased over period, governments, corporates, businesses, and households still find it challenging to afford the initial costs of solar systems. Even though incentives and financing options contribute to alleviate this restriction, some people continue to have affordability concerns. This affordability factor restraints the market growth.

How are Segments Performing in the Global Solar Energy Market?

Solar Energy Technology Segment Breakdown

According to Intellistic Research, the solar energy market by technology is segmented into Photovoltaic Systems, and Concentrated Solar Power Systems

Solar Energy Module Segment Breakdown

According to Intellistic Research, based on solar module the market is bifurcated into Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, and Others

Solar Energy Application Segment Breakdown

According to Intellistic Research, based on application the market is segmented into Residential, Commercial, and Industrial

Solar Energy End-User Segment Breakdown

According to Intellistic Research, based on end-user the market is segmented into Electricity Generation, Lighting, Heating, and Charging

Solar Energy Geographic Exploration

According to Intellistic Research, the Asia-Pacific region is predicted to dominate the market, owing to adoption of ambitious renewable energy goals and supportive solar energy policies. China, India, and Japan, have adopted ambitious renewable energy goals and supportive solar energy policies. These policies include feed-in tariffs and renewable portfolio criteria in addition to solar installation incentives. Other regions competing in the market are North America, Europe, Middle East and Africa, and Latin America respectively.

COMPETITIVE LANDSCAPE & RECENT DEVELOPMENT: SOLAR ENERGY

The competitive landscape of the market is fragmented. The significant players rapidly evolve with new strategies to attain a competitive edge and capture significant market share.

• For instance, in July 2022, Jinko Solar company launched a residential energy storage system ‘SUNTANK’, which is a new solar battery. The battery has a capacity of 2.56kWh to 25.6kWh and have a warranty of 10 years.

Noticeable Players Functioning in The Global Solar Energy Market Include:

• ReneSola

• Trina Solar Limited

• First Solar Inc.

• Yingli Solar

• JA Solar

• RGS Energy

• Sharp Corporation

• Motech Industries Inc.

• Motech Industries Inc.

• Hanwha Q Cells

KEY BREAKDOWN: SOLAR ENERGY MARKET

By Technology:

• Photovoltaic Systems

• Concentrated Solar Power Systems

By Solar Module:

• Monocrystalline

• Polycrystalline

• Cadmium Telluride

• Amorphous Silicon Cells

• Others

By Application:

• Residential

• Commercial

• Industrial

By End-User:

• Electricity Generation

• Lighting

• Heating

• Charging

Geographical Exploration:

• North America

o The USA

o Canada

o Mexico

• Europe

o Germany

o France

o U.K.

o Russia

o Italy

o Spain

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Australia

o New Zealand

o Singapore

o Malaysia

o Rest of Asia

• Latin America

o Brazil

o Argentina

o Colombia

o Peru

o Chile

o Venezuela

o Rest of Latin America

• Middle East and Africa

o Saudi Arabia

o UAE

o Egypt

o Kuwait

o South Africa

o Rest of Middle East & Africa

Global Solar Energy Market TOC:

1. Research Methodology 
1.1. Global Solar Energy Market Snapshot, 2023 and 2030 
1.2. Data Mining 
1.3. Validation 
1.4. Primary Interviews 
1.5. List of Data Sources 
1.6. Future Market Projections 
1.7. Industry Developments and Key Market Events 
2. Executive Summary 
3. Market Overview 
3.1. Market Scope and Definition 
3.2. Market Dynamics 
3.2.1. Drivers 
3.2.2. Restraints 
3.2.3. Opportunity 
3.2.4. Challenges 
3.2.5. Cumulative Impact due to Recent Energy Crisis 
3.2.6. Cumulative Impact due to Nearing Economic Downturn 
3.2.7. Post Covid-19 World Supply & Demand Conditions 
3.2.8. Cumulative Impact of Russia-Ukraine Conflict 
3.2.9. Key Trends 
3.3. Solar Energy Market: Value Chain 
3.3.1. List of Raw Material Supplier 
3.3.2. List of Manufacturers 
3.3.3. List of Application 
3.4. Porter Five Force’s Analysis 
3.5. Regulatory and Technology Landscape 
4. Global Solar Energy Market Outlook: Forecast (2023 – 2030) 
4.1. Key Highlights 
4.1.1. Market Size and Y-o-Y Growth 
4.1.2. Absolute $ Opportunity 
4.2. Market Size (US$ Mn) Analysis and Forecast 
4.2.1. Current Market Size Forecast, 2023–2030 
4.3. Global Solar Energy Market Outlook: Technology 
4.3.1. Introduction / Key Findings 
4.3.2. Market Size (US$ Mn) and Forecast Technology, 2023 – 2030 
4.3.2.1. Photovoltaic Systems 
4.3.2.2. Concentrated Solar Power Systems 
4.4. Global Solar Energy Market Outlook: Solar Module 
4.4.1. Introduction / Key Findings 
4.4.2. Market Size (US$ Mn) and Forecast By Solar Module, 2023 – 2030 
4.4.2.1. Monocrystalline 
4.4.2.2. Polycrystalline 
4.4.2.3. Cadmium Telluride 
4.4.2.4. Amorphous Silicon Cells 
4.4.2.5. Others 
4.5. Global Solar Energy Market Outlook: Application 
4.5.1. Introduction / Key Findings 
4.5.2. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030 
4.5.2.1. Residential 
4.5.2.2. Commercial 
4.5.2.3. Industrial 
4.6. Global Solar Energy Market Outlook: End-User 
4.6.1. Introduction / Key Findings 
4.6.2. Market Size (US$ Mn) and Forecast By End-User, 2023 – 2030 
4.6.2.1. Electricity Generation 
4.6.2.2. Lighting 
4.6.2.3. Heating 
4.6.2.4. Charging 
5. Global Solar Energy Market Outlook: Region 
5.1. Key Highlights 
5.2. Market Size (US$ Mn) and Forecast By Region, 2023 – 2030 
5.2.1. North America 
5.2.2. Europe 
5.2.3. Asia Pacific 
5.2.4. Latin America 
5.2.5. Middle East & Africa (MEA) 
6. North America Solar Energy Market Outlook: Forecast (2023 – 2030) 
6.1. Key Highlights 
6.2. Pricing Analysis 
6.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2022 
6.3.1. By Country 
6.3.2. By Technology 
6.3.3. By Solar Module 
6.3.4. By Application 
6.3.5. By End-User 
6.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030 
6.4.1. U.S. 
6.4.2. Canada 
6.4.3. Mexico 
6.5. Market Size (US$ Mn) and Forecast By Technology, 2023 – 2030 
6.5.1. Photovoltaic Systems 
6.5.2. Concentrated Solar Power Systems 
6.6. Market Size (US$ Mn) and Forecast By Solar Module, 2023 – 2030 
6.6.1. Monocrystalline 
6.6.2. Polycrystalline 
6.6.3. Cadmium Telluride 
6.6.4. Amorphous Silicon Cells 
6.6.5. Others 
6.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030 
6.7.1. Residential 
6.7.2. Commercial 
6.7.3. Industrial 
6.8. Market Size (US$ Mn) and Forecast By End-User, 2023 – 2030 
6.8.1. Electricity Generation 
6.8.2. Lighting 
6.8.3. Heating 
6.8.4. Charging 
7. Europe Solar Energy Market Outlook: Forecast (2023 – 2030) 
7.1. Key Highlights 
7.2. Pricing Analysis 
7.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030 
7.3.1. By Country 
7.3.2. By Technology 
7.3.3. By Solar Module 
7.3.4. By Application 
7.3.5. By End-User 
7.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030 
7.4.1. Germany 
7.4.2. France 
7.4.3. U.K. 
7.4.4. Russia 
7.4.5. Italy 
7.4.6. Spain 
7.4.7. Rest of Europe 
7.5. Market Size (US$ Mn) and Forecast By Technology, 2023 – 2030 
7.5.1. Photovoltaic Systems 
7.5.2. Concentrated Solar Power Systems 
7.6. Market Size (US$ Mn) and Forecast By Solar Module, 2023 – 2030 
7.6.1. Monocrystalline 
7.6.2. Polycrystalline 
7.6.3. Cadmium Telluride 
7.6.4. Amorphous Silicon Cells 
7.6.5. Others 
7.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030 
7.7.1. Residential 
7.7.2. Commercial 
7.7.3. Industrial 
7.8. Market Size (US$ Mn) and Forecast By End-User, 2023 – 2030 
7.8.1. Electricity Generation 
7.8.2. Lighting 
7.8.3. Heating 
7.8.4. Charging 
8. Asia Pacific Solar Energy Market Outlook: Forecast (2023 – 2030) 
8.1. Key Highlights 
8.2. Pricing Analysis 
8.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030 
8.3.1. By Country 
8.3.2. By Technology 
8.3.3. By Solar Module 
8.3.4. By Application 
8.3.5. By End-User 
8.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030 
8.4.1. China 
8.4.2. Japan 
8.4.3. India 
8.4.4. South Korea 
8.4.5. Australia 
8.4.6. New Zealand 
8.4.7. Singapore 
8.4.8. Malaysia 
8.4.9. Rest of Asia 
8.5. Market Size (US$ Mn) and Forecast By Technology, 2023 – 2030 
8.5.1. Photovoltaic Systems 
8.5.2. Concentrated Solar Power Systems 
8.6. Market Size (US$ Mn) and Forecast By Solar Module, 2023 – 2030 
8.6.1. Monocrystalline 
8.6.2. Polycrystalline 
8.6.3. Cadmium Telluride 
8.6.4. Amorphous Silicon Cells 
8.6.5. Others 
8.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030 
8.7.1. Residential 
8.7.2. Commercial 
8.7.3. Industrial 
8.8. Market Size (US$ Mn) and Forecast By End-User, 2023 – 2030 
8.8.1. Electricity Generation 
8.8.2. Lighting 
8.8.3. Heating 
8.8.4. Charging 
9. Latin America Solar Energy Market Outlook: Forecast (2023 – 2030) 
9.1. Key Highlights 
9.2. Pricing Analysis 
9.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030 
9.3.1. By Country 
9.3.2. By Technology 
9.3.3. By Solar Module 
9.3.4. By Application 
9.3.5. By End-User 
9.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030 
9.4.1. Brazil 
9.4.2. Argentina 
9.4.3. Colombia 
9.4.4. Peru 
9.4.5. Chile 
9.4.6. Venezuela 
9.4.7. Rest of Latin America 
9.5. Market Size (US$ Mn) and Forecast By Technology, 2023 – 2030 
9.5.1. Photovoltaic Systems 
9.5.2. Concentrated Solar Power Systems 
9.6. Market Size (US$ Mn) and Forecast By Solar Module, 2023 – 2030 
9.6.1. Monocrystalline 
9.6.2. Polycrystalline 
9.6.3. Cadmium Telluride 
9.6.4. Amorphous Silicon Cells 
9.6.5. Others 
9.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030 
9.7.1. Residential 
9.7.2. Commercial 
9.7.3. Industrial 
9.8. Market Size (US$ Mn) and Forecast By End-User, 2023 – 2030 
9.8.1. Electricity Generation 
9.8.2. Lighting 
9.8.3. Heating 
9.8.4. Charging 
10. Middle East & Africa Solar Energy Market Outlook: Forecast (2023 – 2030) 
10.1. Key Highlights 
10.2. Pricing Analysis 
10.3. Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2023 – 2030 
10.3.1. By Country 
10.3.2. By Technology 
10.3.3. By Solar Module 
10.3.4. By Application 
10.3.5. By End-User 
10.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030 
10.4.1. Saudi Arabia 
10.4.2. UAE 
10.4.3. Egypt 
10.4.4. Kuwait 
10.4.5. South Africa 
10.4.6. Rest of Middle East & Africa 
10.5. Market Size (US$ Mn) and Forecast By Technology, 2023 – 2030 
10.5.1. Photovoltaic Systems 
10.5.2. Concentrated Solar Power Systems 
10.6. Market Size (US$ Mn) and Forecast By Solar Module, 2023 – 2030 
10.6.1. Monocrystalline 
10.6.2. Polycrystalline 
10.6.3. Cadmium Telluride 
10.6.4. Amorphous Silicon Cells 
10.6.5. Others 
10.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030 
10.7.1. Residential 
10.7.2. Commercial 
10.7.3. Industrial 
10.8. Market Size (US$ Mn) and Forecast By End-User, 2023 – 2030 
10.8.1. Electricity Generation 
10.8.2. Lighting 
10.8.3. Heating 
10.8.4. Charging 
11. Competition Analysis 
11.1. Market Share Analysis Of Top Vendors 
11.2. Market Structure 
11.2.1. Competition Intensity Mapping By Market 
11.2.2. Competition Dashboard 
11.2.3. Key Development Strategies 
11.3. Company Profiles 
11.3.1. ReneSola 
11.3.1.1. Overview 
11.3.1.2. Technologys 
11.3.1.3. Business Segment & Geographic Overview 
11.3.1.4. Key Financials 
11.3.1.5. Key Market Developments 
11.3.2. Trina Solar Limited 
11.3.3. First Solar Inc. 
11.3.4. Yingli Solar 
11.3.5. JA Solar 
11.3.6. RGS Energy 
11.3.7. Sharp Corporation 
11.3.8. Motech Industries Inc. 
11.3.9. Motech Industries Inc. 
11.3.10. Hanwha Q Cells