Solar Module Market by Product Type, Distribution Channel, End User 2024-2032
                     Global Solar Module 
Market Research and 
Forecast Report 2024-
2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved 
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A cc o r d i ng  t o  t h e  l a t e s t  r e p o r t  b y  IM A R C  Gr o u p ,  t i t l e d  " S o l a r  M o d u l e  M a rk e t :  G l o b a l  
I n d u s t r y  T re n d s ,  S h a re ,  S i z e ,  Gr o w th ,  O p p o r t u n i ty  an d  F o r e ca s t  2 0 2 4 -
20 3 2 , "  t h e  g l o b a l  s o l a r  mo d u l e  ma r ke t  s i z e  r e a c he d  U S $  1 6 6 .9  B i l l i o n  i n  2 0 2 3 .
Fac tors  A f fec t ing  the  Growth  o f  t he  Sola r  Module  Indust ry :
Report Cost  Reduct ions:A s  t h e  co s t  o f  so l a r  mo d u l e s  i s  d e c re a s i n g ,  t he y  a r e  b e co m i n g  m o re  a f fo r d a b l e  f o r  
i n d i v i d u a l s ,  b u s i n es s e s ,  an d  g ov e r n me n t s ,  l e a d i ng  t o  h i g h e r  a d op t i o n  r a t e s .  T h i s  
Highlight and a f f o r d a b i l i t y  ma k e s  s o l a r  e n e rg y  a c c e s s i b l e  t o  a  b ro a d e r  r a n ge  o f  co n s u me r s ,  d r i v i ng  t he  m a rk e t  g r o w t h .  
A s  th e  c o s t  o f  so l a r  e n e rg y  i s  d e c re a s i n g ,  i t  b e c o me s  i n c re a s i n g l y  c o m p e t i t i v e  w i t h  
Description co n v e n t i on a l  e n e rg y  s o u r c es ,  s u c h  a s  co a l ,  n a t u ra l  g a s ,  a nd  n u c l e a r  p ow e r .  T h i s  
co m p e t i t i v e n e ss  en c o u r ag e s  u t i l i t i e s ,  bu s i n e s se s ,  a n d  h o m eo w n e r s  t o  c h o os e  s o l a r  
en e r g y  o v e r  t r a d i t i on a l  o p t i on s ,  f u r t h e r  e x p an d i n g  t he  m a rk e t .
Env i ronmenta l  Concerns :
S o l a r  e n e r gy  i s  a  c l e an  a n d  r e ne w a b l e  en e r g y  s ou r c e  t h a t  g e ne r a t e s  e l e c t r i c i t y  w i t h o u t  
em i t t i n g  g r e e n ho u s e  g as e s  o r  o t h e r  p o l l u t a n t s .  A s  c o n ce r n s  a b o u t  c l i m a te  c h a ng e  a nd  
a i r  p o l l u t i o n  a r e  g r o w i n g ,  t he r e  i s  i n c r e a s i n g  p r e ss u r e  t o  t r an s i t i o n  a w ay  f r o m fo s s i l  
f ue l s  t ow a r d s  l o w - c a rb o n  a l t e r n a t i ve s  l i k e  s o l a r  p o w e r .
Sola r  energy re l ies  on sun l igh t ,  wh ich  is  abundant  and  inexhaust ib le  
compared  to  f in i te  foss i l  fue l  resources l i ke  coa l ,  o i l ,  and na tura l  gas.  By 
harness ing  so la r  power ,  we  can reduce  our  re l iance on f in i te  resources,  
promot ing  long- term susta inab i l i t y  and  env i ronmenta l  conserva t ion.
Technological  Advancements:
Innovat ions in  so lar  ce l l  techno log ies ,  such  as  pass iva ted  emi t ter  and  rear  
Report ce l l  (PERC)  and b i fac ia l  ce l l s ,  a re  lead ing  to  h igher  convers ion  e f f i c ienc ies ,  a l lowing  so lar  modules  to  genera te  more  e lec t r i c i t y  f rom the  same amount  o f  
sun l igh t .  H igher  e f f ic iency modu les  can p roduce  more  power  in  less  space,  
Highlight and making  them a t t rac t ive  fo r  a  w ide range o f  app l i ca t ions,  inc lud ing  
res ident ia l ,  commerc ia l ,  and  u t i l i t y -sca le  ins ta l la t ions.  
Description Thin- f i lm  so la r  techno log ies ,  such  as  cadmium te l lu r ide  (CdTe)  and  copper  
ind ium ga l l ium se len ide (CIGS) ,  o f fer  advantages  such  as f lex ib i l i t y ,  
l i gh twe igh t ,  and  low manufactu r ing cos ts .
Request  for  a  PDF sample of  th is  report :  
ht tps : / /www. imarcgroup.com/so lar -modu le -market / reques tsample
Report Description
Global Solar Module Market Trends:
There is  a  not iceable  t rend towards the adopt ion of  monocrysta l l ine s i l icon  modules due to  the i r  
h igher  e f f ic iency and energy y ie ld  compared to  po lycrysta l l ine modules,  dr iven by advancements in  
manufactur ing processes and cost  reduct ions.  The in tegrat ion of  energy storage so lu t ions wi th  so lar  
modules is  becoming increas ing ly  common, d r iven by the need to  enhance gr id  s tab i l i ty ,  increase 
se l f -consumpt ion of  so lar  energy,  and prov ide backup power  dur ing gr id  outages,  shap ing the market  
towards hybr id  so lar  systems.  
F loat ing so lar  photovo l ta ic  (PV)  ins ta l la t ions on water  bodies,  such as lakes,  reservo i rs,  and ponds,  
are ga in ing t ract ion as a  space-ef f ic ient  and envi ronment- f r iend ly  so lar  so lu t ion,  espec ia l ly  in  areas 
wi th  land const ra in ts,  o f fer ing new oppor tun i t ies  for  market  expansion.
View Report  TOC, F igures and Tables :  ht tps: / /www.imarcgroup.com/solar-module-market
Breakup by Technology:
• Crystal l ine Si l icon
o Monocrystal l ine
o Polycrystal l ine
• Thin Fi lm
o Cadmium Tel lur ide (CdTe)
Report o Amorphous Si l icon (a-Si)
o Copper Indium Gal l ium Diselenide (CIGS)
Segmentation
Breakup by Connectivity:
• On-Grid
• Off -Grid
Breakup by Mounting:
• Ground Mounted
• Roof Top
Breakup by End User:
• Residential
• Commercial
• Uti l i ty
Report 
Segmentation Breakup by Region:
• North America
• Europe
• Asia-Pacifi c
• Latin America
• Middle East and Afr ica
• Canadian Solar
• DelSolar Co.  Ltd.
• First Solar Inc.
• GCL System Integration Technology Co. Ltd.
Competitive 
• Hanwha Group
Landscape • J inkoSolar Holding Co. Ltd.
with Key • Kyocera Corporation
• REC Solar Holdings AS (Reliance New Energy 
Players Solar Limited)
• The Solaria Corporation
• Trina Solar Co. Ltd.
How has the global solar module market performed so 
far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in 
the global solar module market?
What is the impact of each driver, restraint, and 
Key opportunity on the global solar module market?
Questions What are the key regional markets?
Answered in 
Which countries represent the most attractive solar 
module market?
the Report
What is the breakup of the market based on the 
technology?
Which is the most attractive technology in the global 
solar module market?
What is the breakup of the market based on the 
connectivity?
Which is the most attractive connectivity in the global 
solar module market?
What is the breakup of the market based on the 
mounting?
Key Which is the most attractive mounting in the global solar module market?
Questions 
What is the breakup of the market based on the end 
user?
Answered in 
the Report Which is the most attractive end user in the global solar module market?
What is the competitive structure of the global solar 
module market?
Who are the key players/companies in the global solar 
module market?
1     P r e f a c e
2  S c o p e  a n d  M e t h o d o l o g y
2 . 1  O b j e c t i v e s  o f  t h e  S t u d y
2 . 2  S t a k e h o l d e r s
2 . 3  D a t a  S o u r c e s
2 . 3 . 1  P r i m a r y  S o u r c e s
2 . 3 . 2  S e c o n d a r y  S o u r c e s
2 . 4  M a r k e t  E s t i m a t i o n
2 . 4 . 1  B o t t o m - U p  A p p r o a c h
Table of 2 . 4 . 2  T o p - D o w n  A p p r o a c h2 . 5  F o r e c a s t i n g  M e t h o d o l o g y
3  E x e c u t i v e  S u m m a r y
4  G l o b a l  S o l a r  M o d u l e  M a r k e t  -  I n t r o d u c t i o n
4 . 1  O v e r v i e w
Contents 4 . 2  M a r k e t  D y n a m i c s4 . 3  I n d u s t r y  T r e n d s
4 . 4  C o m p e t i t i v e  I n t e l l i g e n c e
5  G l o b a l  S o l a r  M o d u l e  M a r k e t  L a n d s c a p e
5 . 1  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
5 . 2  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
6  G l o b a l  S o l a r  M o d u l e  M a r k e t  -  B r e a k u p  b y  T e c h n o l o g y
6 . 1  C r y s t a l l i n e  S i l i c o n
6 . 1 . 1  O v e r v i e w
6 . 1 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
6 . 1 . 3  M a r k e t  S e g m e n t a t i o n
6 . 1 . 3 . 1  M o n o c r y s t a l l i n e
6 . 1 . 3 . 2  P o l y c r y s t a l l i n e
6 . 1 . 4  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
6 . 2  T h i n  F i l m
6 . 2 . 1  O v e r v i e w
6 . 2 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
       
6 . 2 . 3  M a r k e t  S e g m e n t a t i o n
6 . 2 . 3 . 1  C a d m i u m  T e l l u r i d e  ( C d T e )
6 . 2 . 3 . 2  A m o r p h o u s  S i l i c o n  ( a - S i )
6 . 2 . 3 . 3  C o p p e r  I n d i u m  G a l l i u m  D i s e l e n i d e  ( C I G S )
6 . 2 . 4  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
6 . 3  A t t r a c t i v e  I n v e s t m e n t  P r o p o s i t i o n  b y  T e c h n o l o g y
7  G l o b a l  S o l a r  M o d u l e  M a r k e t  -  B r e a k u p  b y  C o n n e c t i v i t y
7 . 1  O n - G r i d
7 . 1 . 1  O v e r v i e w
7 . 1 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
7 . 1 . 3  M a r k e t  S e g m e n t a t i o n
Table of 7 . 1 . 4  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
7 . 2  O f f - G r i d
7 . 2 . 1  O v e r v i e w
Contents 7 . 2 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )7 . 2 . 3  M a r k e t  S e g m e n t a t i o n
7 . 2 . 4  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
7 . 3  A t t r a c t i v e  I n v e s t m e n t  P r o p o s i t i o n  b y  C o n n e c t i v i t y
8  G l o b a l  S o l a r  M o d u l e  M a r k e t  -  B r e a k u p  b y  M o u n t i n g
8 . 1  G r o u n d  M o u n t e d
8 . 1 . 1  O v e r v i e w
8 . 1 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
8 . 1 . 3  M a r k e t  S e g m e n t a t i o n
8 . 1 . 4  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
8 . 2  R o o f  T o p
8 . 2 . 1  O v e r v i e w
8 . 2 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
8 . 2 . 3  M a r k e t  S e g m e n t a t i o n
8 . 2 . 4  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
F o r  m o r e  i n f o r m a t i o n ,  v i s i t :  
h t t p s : / / w w w. im a rcg ro u p . co m / s o l a r- m o d u l e - m a r ke t / t o c
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