According to Cognitive Market Research, the global Photovoltaic Modules market size was USD 97514.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 39005.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 29254.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 22428.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4875.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1950.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
The Thin Film category is the fastest growing segment of the Photovoltaic Modules industry
