Please Wait.....
Report
Asia-Pacific Solar Photovoltaic (PV) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 100 Pages I Mordor Intelligence
The Asia-Pacific Solar Photovoltaic Market is expected to register a CAGR of greater than 10.38% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
Key Highlights
- Over the long term, the major factor driving the global solar PV market is the declining cost of solar PV module prices. This, in turn, is likely to have a positive impact on the growth of the solar photovoltaic (PV) market in the region.
- On the other note, the high installation cost and poor maintenance practices are restraining factors for the growth of the solar photovoltaic market. Moreover, the increasing deployment of alternative renewable energy sources is expected to hinder the market's growth.
- Nevertheless, commercial and industrial sectors are showing a growing interest in distributed solar power generation due to various economic benefits and a constant source of energy to eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids. This is expected to create a huge opportunity for distributed solar PV market in the region in the near future.
- China is expected to dominate the market over rising environmental concerns and economic benefits of domestic solar power generation.
Asia-Pacific Solar Photovoltaic Market Trends
Ground Mounted Segment to Dominate the Market
- Ground-mounted solar panels are solar arrays that are installed at the ground level. These systems are usually more expensive than rooftop installations but could maximize energy production at a larger level. In 2021, the market share of ground-mounted solar PVs was more than 50% of the total installed solar PV capacity, as they are mainly deployed for commercial and utility purposes.
- Ground-mounted solar for commercial or utility projects is economical due to the economies of scale, large-scale installations, and operation and maintenance efficiencies. On the other hand, rooftop solar is used in small residential projects, less than 1 MW.
- Increasing competition and technical advancements in large-scale utility projects have led to cost reductions in both installation and operation & maintenance prices. As of 2021, Asia has reached 484.93 GW of solar PV installed capacity, which has grown 18.49% more compared to 409.25 GW installed in 2020.
- Going forward, in December 2021, the Indian Ministry of New and Renewable Energy (MNRE) invited applications for the Expression of Interest (EOI) to evaluate Phase II of the Grid Connected Rooftop Solar Program. The program is a part of the National Solar Mission (NSM), which aims at installing 40 GW capacity of grid-connected solar rooftop installation systems by the end of 2022.
- In January 2022, Reliance Industries signed an agreement with the Gujarat government to invest USD 603 billion in Gujarat over 10-15 years to set up 100 GW renewable energy power plants and a green hydrogen ecosystem. Renewable energy power plants include solar power plants at a utility-scale. RIL is expected to invest INR 60,000 crore in setting up manufacturing facilities for solar PV modules, electrolyzers, batteries, and fuel cells for the upcoming renewable projects.
- Moreover, in September 2022, Hitachi Astemo installed India's first solar PV plant at the Jalgaon manufacturing plant in Maharashtra. The 3 MW solar power plant will be built in an area of 43301 sqm. The ground-mounted solar power plant will consist of 7128 ground-mounted solar panels and ten inverters and is expected to get commissioned by 2023.
- Owing to the above points, the ground-mounted segment is expected to dominate the Asia-Pacific Solar Photovoltaic (PV) Market during the forecast period.
China to Dominate the Market
- China is the largest market for solar PV across the globe, with a cumulative installed capacity that accounted for more than 40% of the global market in 2021. The solar power share in China's renewable power generation mix was recorded as 282 million kilowatts at the end of 2021. The government has envisaged various initiatives to increase this share of solar energy in the near future.
- As of 2021, China recorded a solar PV capacity of 306.403 GW, which has grown 20.91% higher than the 253.418 GW installed in 2020. Also, China revealed new solar and wind policies for subsidy-free projects. The policy was introduced to take advantage of a rapid fall in construction costs and to resolve payment backlog issues and grid logjam projects.
- In the year 2021, the country hit a breaking record of solar power capacity with 54.9 gigawatts to its grid. According to China's energy authority (CEA), the country managed to increase its capacity by 14 per cent compared to the capacity made by the previous year while gaining 31 percent of its total capacity additions over the year. By the end of the year 2021, China obtained a total solar capacity of 306.56 GW, which can cover the power generation of Germany, based on the National Energy Administration.
- Moreover, in June 2022, Concord New Energy connected a new 70 MW solar plant to the grid in China. The project, which is situated on a pond, also supports fish and shrimp aquaculture. Trina Solar supplied 670 W solar panels for the installation.
- Furthermore, in October 2022, State Power Investment Corp. (SPIC) announced that it had completed the pilot solar power plant near the town of Zhengdou in China's Sichuan province. The Xingchuan Demonstration Photovoltaic Power Station is the first unit of a 600 MW project that SPIC is building in the area at a planned cost of USD 444.2 million.
- Owing to the above points, China is expected to dominate the Asia-Pacific Solar Photovoltaic (PV) market during the forecast period.
Asia-Pacific Solar Photovoltaic Industry Overview
The Asia-Pacific Solar Photovoltaic (PV) Market is fragmented. Some of the key players in this market (not in a particular order) include JA Solar Holdings Co., Trina Solar Ltd, Adani Green Energy Ltd., Azure Power Global Limited, and First Solar Inc.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Solar PV Installed Capacity and Forecast in GW, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Thin Film
5.1.2 Multicrystalline Silicon
5.1.3 Monocrystalline Silicon
5.2 End-User
5.2.1 Residential
5.2.2 Commercial
5.2.3 Utility
5.3 Deployment
5.3.1 Ground Mounted
5.3.2 Rooftop Solar
5.4 Geography
5.4.1 China
5.4.2 India
5.4.3 Japan
5.4.4 South Korea
5.4.5 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 JA Solar Holdings Co
6.3.2 Trina Solar Ltd
6.3.3 Adani Green Energy Ltd
6.3.4 Azure Power Global Limited
6.3.5 First Solar Inc
6.3.6 ReneSola Ltd.
6.3.7 Zhejiang Chint Electrics Co Ltd
6.3.8 Yingli Green Energy Holding Co Ltd
6.3.9 Hanwha Q CELLS Co. Ltd
6.3.10 SMA Solar Technology AG
6.3.11 JinkoSolar Holdings Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security