In 2024, the global solar photovoltaic (PV) market reached USD 277.65 billion, down 2.1% from USD 283.59 billion in 2023. The decline was mainly driven by ongoing overcapacity and inventory clearance across the PV industry supply chain, resulting in heightened market competition. Although it has driven growth in global installation volumes, it has also led to a decline in levelized costs, ultimately resulting in a decrease in overall market value. By product type, ground-mounted solar power plants remained the dominant segment, with falling transportation and module costs helping to support project development. In 2024, global newly installed solar PV capacity reached 533.9 GW, representing a 41.2% increase compared to 2023. This growth was largely driven by system deployment efforts in countries such as China, the United States, and India.
I. Industry Scope
II. Industry Review for 2024
III. Analysis of Major Issues: Impact and Influence
IV. Emerging Product Technology Trends
V. New Southbound Countries
VI. Analysis of AI Applications in Emerging Energy Industries
VII. Industry Outlook for 2025
Figure 1 Scope of solar PV industry
Figure 2 Scope of wind power industry
Figure 3 Global Market Size of Stationary Energy Storage Systems 2023-2027
Figure 4 Global Installation Volume of Fuel Cells 2023-2027
Figure 5 Global Market Size of Biofuels 2023-2027
Table 1 Analysis of Global Emerging Energy Industry Output Trends for 2023-2024
Table 2 Analysis of Taiwan's Emerging Energy Industry Output Trends for 2023-2024
Table 3 Analysis of Taiwanese Energy Deployment and Competitors in Southeast Asia's Solar Photovoltaic Industry in 2024