From GlobeNewswire: 2025-06-10 08:04:00

The global Solar PV Module Market is projected to reach USD 97.56 billion by 2032, with a CAGR of 8.4% from 2025. The market growth is driven by supportive government policies and decreasing solar technology costs, with Asia Pacific leading the market share in 2025. North America also shows strong growth due to increasing investments and demand for clean energy.

Renewable energy boom is propelling the Solar PV Module Market, with solar energy gaining popularity due to factors like rising energy prices and carbon emissions. Residential adoption is increasing, with rooftop solar panels becoming a trend. The International Energy Agency projects a significant increase in global renewable capacity from 2024-2030, with solar PV leading the way.

Challenges like high initial costs and intermittent solar energy may limit market growth. However, government initiatives worldwide are creating growth opportunities for industry players. For instance, the UK and India have launched schemes to boost rooftop solar capacity. These initiatives are expected to unlock new revenue streams for solar PV module manufacturers.

Artificial intelligence (AI) is revolutionizing the Solar PV Module Market by enhancing efficiency, manufacturing, and maintenance. AI technologies improve energy output predictions, quality control, and predictive maintenance. Solar module manufacturers like LONGI are adopting AI-driven solutions for better defect detection and module reliability. The integration of AI is expected to boost market value significantly.

Key companies in the Solar PV Module Market include Canadian Solar, First Solar, Trina Solar, JinkoSolar, and SunPower. Recent developments include LONGi’s introduction of a high-efficiency HBC module and Trina Solar’s unveiling of new dual-glass modules for industrial rooftops. These innovations are driving growth and setting new benchmarks in the industry.

The Solar PV Module Market is segmented by technology, mounting type, application, and region. Innovations in photovoltaic technologies like bifacial modules and PERC cells, along with the integration of energy storage solutions, AI, IoT, and smart grid technologies, are shaping the market trends. The declining cost of solar modules and increasing investments in utility-scale solar projects are further boosting market growth.



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