Solar Power Market Size, Share, Trends Growth Report 2032

Market share of solar panel manufacturers

Asia Pacific held the largest market share of over 54. 0% in 2023. The North American market is expected to grow at a CAGR of about 7. 9% over the forecast period. . The US solar industry installed 11. 7 gigawatts direct current (GWdc) of capacity in Q3 2025, a 20% increase from Q3 2024, a 49% increase from Q2 2025, and the third largest quarter for deployment in the industry's history. Following a low second quarter, the industry is ramping up as the end of. . The global solar PV panels market size was estimated at USD 170. 13 billion by 2030, growing at a compound annual growth rate (CAGR) of 7. 69 billion in 2023 and is projected to be worth USD 273 billion in 2024 and reach USD 436. [PDF Version]