Solar PV Module Market Size & Share, by Counting Type (Ground-Mounted, Rooftop); Installation; Size; Technology; Efficiency; Application - Global Supply & Demand Analysis, Growth Forecasts, Statistical Report 2026-2035

Solar PV Module Market - Regional Analysis

APAC Market Insights

The Asia Pacific solar PV module market is anticipated to garner the highest share of 47.3% by the end of 2035. The market’s upliftment in the region is highly attributed to a rise in the need for high-efficiency energy, chemical industry advancements, and strong government expenditure. According to official statistics published by the UNDP Organization in March 2025, the overall region is home to 60% of the global population and heavily relies on fossil fuels for 85% of its energy demands, accounting for almost half of the international carbon dioxide emissions. Besides, the ambitious dual carbon objectives in China have the potential to shift not only the nation, but the total region. Besides, as per the June 2025 World Economic Forum article, the energy transition has gained speed, with renewable energy sources are home to 75% of the international coal power, thus stimulating the solar PV module market in the overall region.

The presence of massive government spending, industrial adoption, the carbon neutrality goal by 2050, and domestic organizations integrating sustainable energy processes are responsible for boosting the solar PV module market in China. Based on government estimates published by the ITA in September 2025, the deployment of battery energy storage systems is rapidly growing, with an overall storage capacity quadrupling to 31.4 GW as of 2023. Besides, in terms of pumped hydro storage, the deployed energy storage in the country has successfully reached 58.6 million kW by the end of 2024. Besides, as per the September 2025 Ember Energy Organization data report, 84% of clean generation growth has been led by solar and wind due to the country’s electricity demand growth in 2024, thereby denoting an optimistic outlook for the market’s growth in the overall country.

The solar PV module market in India is significantly growing, owing to governmental investment in water-specific PV technology, large and small-scale businesses implementing green energy processes, and the presence of strong funding programs. As per an article published by the PIB Government in December 2025, the country’s solar capacity has surged to 129 GW as of 2025, with non-fossil power crossing 50% of the nation’s 500 GW capacity. Besides, almost 24 lakh households have integrated rooftop solar in December 2025 under the government, with an installation capacity of 7 GW of clean energy, as well as ₹ 13,464.6 crore subsidy. Moreover, the PM-KUSUM facilitated almost 9.2 lakh standalone solar pumps, suitable for bolstering clean energy utilization in agriculture, thus denoting a positive impact for the market’s expansion in the country.

Europe Market Insights

Europe solar PV module market is expected to emerge as the fastest-growing region during the projected timeline. The market’s development in the region is highly propelled by regional decarbonization targets, integration of solar with hydrogen production, and subsidies for rooftop solar. According to official statistics published by Europe Commission in January 2026, rooftop solar photovoltaics can tend to supply nearly 40% of regional electricity by the end of 2050. This provides an open accessibility, along with high resolution basis for targeted and precise energy planning. Besides, the rooftops in the region’s 271 million buildings can host almost 2.3 TWp of solar PV capacity and also generate an estimated 2,750 TWh of electricity every year with present PV technology. Moreover, the PV technology has witnessed energy communication efficiency from 18% to 22% as of 2025, which is positively impacting the solar PV module market in the region.

The adoption of robust renewable energy, the provision of feed-in tariffs and subsidies for utility-scale and rooftop solar, as well as an increase in the demand for green energy solutions, are responsible for bolstering the solar PV module market in Germany. As per an article published by the Europe Investment Bank (EIB) in February 2024, the regional Climate Bank Group has increased its financing signed for projects in the country to €8.6 billion. Additionally, 65% of overall domestic financing as of 2023 has been committed for projects deliberately contributing to climate, while 30% are readily dedicated to advanced technologies. Therefore, with this, the EIB Group significantly remained on its growth path for its domestic operations, along with an additional investment, amounting to €5.5 billion, thus proliferating the market’s development in the country.

The solar PV module market in Spain is gaining increased traction, owing to abundant solar resources, solar-based utility programs, rooftop adoption in urban centers, and the integration with battery storage systems. As per an article published by the Global Solar Council Organization in February 2023, the majority of solar energy associations in the country already comprises 770 organizations, and in 2022, there were 2,507 MW of solar energy for self-consumption. This denotes a 108% rise over the previous year, readily accounting for 1,203 MW capacity. Besides, the country already comprises 5,249 MW of cumulative installed power for self-consumption. Meanwhile, in terms of distribution by sectors, the majority of this particular new power, 47%, has been successfully installed in the industrial sector. This is followed by 32% in the residential sector, 20% in commercial, and the remaining 1% in isolated self-consumption.

North America Market Insights

North America solar PV module market is projected to witness considerable growth by the end of the stipulated duration. The market’s growth in the region is highly fueled by the presence of large-scale utility projects, corporate ESG commitments, and federal clean energy programs. According to official statistics published by the Department of Energy in May 2023, an increase in the decarbonization of the power industry is a severe strategy for meeting the U.S.’s climate objectives of diminishing economic greenhouse gases by 50% to 52% by the end of 2030. Therefore, identifying the notable role of the industry in total decarbonization and other suitable advantages, the U.S. constitutes an objective of 100% carbon pollution-free electricity by the end of 2035. Thus, based on these futuristic goals, there is a huge growth opportunity for the market in the overall region.

The presence of federal clean energy mandates, advanced manufacturing support, EPA green chemistry strategies, and corporate ESG commitments are factors driving the solar PV module market in the U.S. As per an article published by the SEIA Organization in December 2025, the solar industry in the country installed 11.7 GW of direct current of capacity in 2025, denoting a 20% surge from 2024, along with a 49% surge from the third quarter of 2025. Besides, the industry also accounted for 58% of all the latest electricity-generating capacity in addition to the country’s grid throughout 2025, with over 30 GW installed. Additionally, the country also added 4.7 GW of solar module manufacturing capacity, thereby bringing the overall capacity to 60.1 GW. Therefore, with all these capacity developments, the market is continuously growing in the country.

State-Based Solar PV Installation Ranking Analysis in the U.S. (2025)

Source: SEIA Organization

The solar PV module market in Canada is also growing significantly, owing to the provision of federal funding for clean energy, provincial and net-metering incentives, climate policy and sustainability alignment, and cross-border collaboration. As stated in an article published by Invest Canada in 2025, there are 215 clean technology, energy, and forestry projects in the country, totaling USD 194.2 billion in investment. Besides, USD 60 billion in federal clean electricity support has been allocated in the Government of Canada’s Powering a Domestic Future strategy. The government’s action means that domestic green energy projects are estimated to increase in valuation by over 50% in the total lifetime. Moreover, the electricity industry is 80% non-emitting, with the power deriving from sources, including nuclear, wind, solar, and hydro, thus suitable for the market’s growth.