According to Cognitive Market Research, the global Solar PV Module market size is USD 129485.2 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 51794.08 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 38845.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 29781.60 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 for more than 5% of the global revenue with a market size of USD 6474.26 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 2589.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
The Monocrystalline held the highest Solar PV Module market revenue share in 2024.
