Market Size of China Solar Photovoltaic Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 0.62 Thousand gigawatt |
| Market Volume (2029) | 1.98 Thousand gigawatt |
| CAGR (2024 - 2029) | 26.09 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Solar Photovoltaic Market Analysis
The China Solar Photovoltaic Market size in terms of installed base is expected to grow from 0.62 Thousand gigawatt in 2024 to 1.98 Thousand gigawatt by 2029, at a CAGR of 26.09% during the forecast period (2024-2029).
- Over the medium term, favorable government policies and increasing adoption of solar PV systems, with the declining price of solar panels and installation costs, will likely support the growth of the global solar energy market during the forecast period.
- On the other hand, factors like the growth of other renewable technologies, such as wind and bioenergy, are expected to hinder market growth.
- Nevertheless, the efforts of governments to provide 100% electricity access in remote areas coupled with off-grid applications and technological advancements in solar PV modules are expected to create ample opportunities in the near future.
