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Solar Panels - Global Market Trajectory & Analytics

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    Report

  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1946791
Global Solar Panels Market to Reach $77.1 Billion by 2027

Amid the COVID-19 crisis, the global market for Solar Panels estimated at US$40.8 Billion in the year 2020, is projected to reach a revised size of US$77.1 Billion by 2027, growing at a CAGR of 9.5% over the analysis period 2020-2027. Mono-crystalline Solar Panel, one of the segments analyzed in the report, is projected to record a 11.1% CAGR and reach US$20.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Poly-crystalline Solar Panel segment is readjusted to a revised 8.6% CAGR for the next 7-year period.





The U.S. Market is Estimated at $11 Billion, While China is Forecast to Grow at 12.8% CAGR

The Solar Panels market in the U.S. is estimated at US$11 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.4 Billion by the year 2027 trailing a CAGR of 12.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 8.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.4% CAGR.

Thin-film Solar Panel Segment to Record 9.7% CAGR

In the global Thin-film Solar Panel segment, USA, Canada, Japan, China and Europe will drive the 9.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8 Billion in the year 2020 will reach a projected size of US$14.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$11 Billion by the year 2027, while Latin America will expand at a 11% CAGR through the analysis period.

Select Competitors (Total 203 Featured):
  • Canadian Solar, Inc.
  • First Solar, Inc.
  • Hanwha Q CELLS (Hanwha Group)
  • JA Solar Holdings Co., Ltd.
  • JinkoSolar Holding Co., Ltd.
  • Motech Industries, Inc.
  • ReneSola Ltd.
  • Trina Solar Ltd.
  • Yingli Green Energy Holding Co., Ltd.
Frequently Asked Questions about the Global Market for Solar Panels

What is the estimated value of the Global Market for Solar Panels?

The Global Market for Solar Panels was estimated to be valued at $40.8 Billion in 2020.

What is the growth rate of the Global Market for Solar Panels?

The growth rate of the Global Market for Solar Panels is 9.5%, with an estimated value of $77.1 Billion by 2027.

What is the forecasted size of the Global Market for Solar Panels?

The Global Market for Solar Panels is estimated to be worth $77.1 Billion by 2027.

Who are the key companies in the Global Market for Solar Panels?

Key companies in the Global Market for Solar Panels include Canadian Solar, Inc., First Solar, Inc., Hanwha Q CELLS (Hanwha Group), JA Solar Holdings Co. Ltd., JinkoSolar Holding Co. Ltd., Motech Industries, Inc., ReneSola Ltd. and Yingli Green Energy Holding Co. Ltd..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA

IV. COMPETITION
  • Total Companies Profiled: 203

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Canadian Solar, Inc.
  • First Solar, Inc.
  • Hanwha Q CELLS (Hanwha Group)
  • JA Solar Holdings Co. Ltd.
  • JinkoSolar Holding Co. Ltd.
  • Motech Industries, Inc.
  • ReneSola Ltd.
  • Trina Solar Ltd.
  • Yingli Green Energy Holding Co. Ltd.