According to Cognitive Market Research, the Global Solar Panel market size will be USD 171548.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.00% 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 68619.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 51464.4 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 39456.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 8577.4 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% 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 3430.9 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
The Photovoltaic Systems Technology held the highest Solar Panel market revenue share in 2024.
