Lighting, Power & Electronic Products

Photovoltaic Panels: Market Size, Growth & Forecast to 2030

The Photovoltaic Panels market is valued at about $65 billion (2026) and is projected to grow at a 8.3% CAGR through 2030. The largest cost driver is Polysilicon feedstock and wafer manufacturing (40% of spend). China leads demand at 57%.

Market size
$65.0 bn (2026)
CAGR to 2030
+8.3%
Buyer power
Favours buyers
Tracked suppliers
45

Projected market growth to 2030

Market size index, 2026 = 100, at the 8.3% CAGR.

1491331161001002026108.32027117.320281272029137.620301492031

Cost structure

Polysilicon feedstock and wafer manufacturing
40%
Module components (solar glass, backsheets, EVA, silver paste)
25%
Direct manufacturing labor and factory overhead
15%
Global freight and outbound logistics
12%
Factory utilities and energy consumption
8%

Regional demand split

China demand
57%
Europe demand
13%
North America demand
12%
India demand
7%
Rest of world demand
11%

Key suppliers

JinkoSolar Holding Co. Ltd.LONGi Green Energy Technology Co. Ltd.Trina Solar Co. Ltd.JA Solar Holdings Co. Ltd.Canadian Solar Inc.First Solar Inc.Hanwha Q CELLS Co. Ltd.
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Claight market analysis of proprietary and public data. Full report: /category-intelligence/photovoltaic-panels