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Report Overview
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Global Solar Electric System Market Outlook
The global solar electric system market is expected to grow in the forecast period of 2025-2034 at a CAGR of 20.90%.
| Global Solar Electric System Market Report Summary | Description | Value |
| Base Year | USD Million | 2023 |
| Historical Period | USD Million | 2018-2024 |
| Forecast Period | USD Million | 2025-2034 |
| Market Size 2024 | USD Million | XX |
| Market Size 2034 | USD Million | XX |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 20.9% |
| CAGR 2025-2034 - Market by Region | Asia Pacific | 24.1% |
| CAGR 2025-2034 - Market by Country | India | 27.7% |
| CAGR 2025-2034 - Market by Country | China | 23.1% |
| CAGR 2025-2034 - Market by Technology Type | Crystalline Silicon | 23.0% |
| CAGR 2025-2034 - Market by Application | Residential | 23.8% |
| Market Share by Country 2023 | France | 3.3% |
Increasing Focus on Renewable Energy Sources to Boost the Market Growth of Solar Electric System
The growth in the global market for solar electric systems can be ascribed to the factors like growing world populations and the subsequent demand for electricity in various commercial and residential settings on account of rapid urbanisation and industrialisation. As solar energy is considered the cleanest form of energy, electricity produced from solar power is boosting the market growth of solar electric systems.
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In addition to this, the rising awareness regarding depleting non-renewable resources, efforts to reduce carbon emissions, and the focus on sustainable living, the rising adoption of solar panels in residential, commercial, and industrial settings is pushing the market growth of solar electric systems. Hence, the growing popularity of solar energy as an efficient renewable source is catalysing the market growth of solar electric system.
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Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Solar Electric System: Market Segmentation
A solar electric system is referred to as a setup that generates electricity by utilising solar energy. A typical solar electric system comprises crystalline silicon and thin films technology, and can either be ground mounted or installed on the rooftops.
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Based on technology type, the market can be categorised into:
- Crystalline Silicon
- Thin Films
On the basis of installation type, the market can be segmented into:
- Ground Mounted
- Rooftop
The market, based on application, can be divided into:
- Residential
- Commercial
- Industrial
The EMR report looks into the regional markets of solar electric system like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
| CAGR 2025-2034 - Market by | Country |
| India | 27.7% |
| China | 23.1% |
| UK | 19.1% |
| USA | 18.6% |
| Germany | 17.2% |
| Canada | XX% |
| France | XX% |
| Italy | XX% |
| Japan | 14.4% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Favourable Government Policies are Providing Impetus to the Market Growth of Solar Electric Systems
The global market for solar electric systems is being driven by favourable government policies promoting the adoption of solar electric systems. The rising concerns regarding environmental degradation, depleting fossil fuels, and the need to adopt green energy are some of the factors providing impetus to the market growth of solar electric systems. In addition to this, favourable government policies, such as the provision of subsidies to promote the adoption of solar power in old and new constructions, is propelling the growth of the market. Furthermore, owing to rising awareness regarding the importance of clean energy, many new residential, commercial, and industrial constructions have witnessed a robust adoption of solar electric systems, which offers economies of scale, thereby augmenting the market growth. Hence, these are some of the factors bolstering the market growth of solar electric systems.
Key Industry Players in the Global Solar Electric System Market
The report presents a detailed analysis of the following key players in the global solar electric system market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- JinkoSolar Holding Co., Ltd
- Canadian Solar Inc, S.A.
- LONGi Solar Technology Co, Ltd
- SunPower Corporation
- Trina Solar Co., Ltd.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Technology Type |
|
| Breakup by Installation Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
|
| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global solar electric system market is projected to grow at a CAGR of 20.90% between 2025 and 2034.
The market is being driven by the rising environmental concerns and the subsequent adoption of green energy sources to meet the growing electricity demands.
The market growth can be associated with favourable government measures like provision of subsidies for the installation of solar electric systems in residential, industrial, and commercial settings.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different types of technology of solar electric systems are crystalline silicon and thin films.
The various installation types of solar electric systems are ground mounted and rooftop.
The significant applications of solar electric system include residential, commercial, and industrial.
The major players in the industry are JinkoSolar Holding Co., Ltd, Canadian Solar Inc, S.A., LONGi Solar Technology Co, Ltd, SunPower Corporation, and Trina Solar Co., Ltd., among others.
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