Solar Boom: PV Module Market Size to Reach $341.8 Billion by 2031 as Costs Drop and Asia Pacific Dominates
• PV module market size to reach USD 341.8 billion by 2031, growing at a CAGR of 19% • Asia Pacific held the largest market share in 2022 due to ambitious renewable energy targets • Technological advancements improving PV module performance and efficiency driving adoption • Decreasing costs of PV modules making solar power more affordable and competitive • Key players like JinkoSolar, First Solar, and Canadian Solar expanding production capacities