Home > News > Content

Global Solar Panel Market : Global Key Market Segments, Application, Statistics, Companies Growth In Future By 2023

The global market for the solar panel is witnessed a double digit growth in 2014, which was mainly fueled by the increased capital investment in developed countries, increasing demand from the developing countries and consolidation in the supplier base. 2014 was a fascinating year for the global solar panel market in terms of shift in demand landscape. At present, China has more solar panel installation than the entire Europe; while in India it has also increased significantly, during the past few years. Similarly, the demand of solar panel from Japan has also increased owing to the favorable incentives for solar power by the Japanese government.

Asia-Pacific accounted for the largest market in 2014. The surge within the solar energy generation capacity in China, India, and Japan has boosted the growth of the Asia-Pacific market. Asia-Pacific is expected to be the fastest growing market during the forecast period, owing to the increasing market penetration of solar panel from Japan and South-East Asia. Country wise, Germany, Italy, the U.K., China, India, Japan, and Brazil are expected to be the major markets during the forecast period.

Global Solar Panel Market Segmentation

By Type
• Grid Connected
• Off Grid


By Application
• Residential
• Commercial
• Others


By Size 
• Small (<100Kw)
• Medium (1Mw to10Mw)
• Large (> 10mw)


By technology
• Monocrystalline Technology
• Multicrystalline Technology


By Geography
• North America
• Latin America
• Western Europe
• Eastern Europe
• Middle-East and Africa
• Asia-Pacific