Top 50 Companies in Photovoltaics Market in the World in 2025: Market Research Report (2024–2035)
RELEASE DATE: Jul 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Photovoltaics Market Size is projected to Grow from USD 558.57 billion in 2024 to USD 1413.57 billion by 2035, at a CAGR of 9.73 % during the forecast period 2025–2035. Future opportunities in the photovoltaics market include advanced solar technologies, building-integrated photovoltaics, energy storage integration, rural electrification, and government incentives driving global adoption of clean, renewable solar energy solutions.
Introduction
The photovoltaics market refers to the industry focused on the generation of electricity using solar cells that convert sunlight into energy through the photovoltaic effect. It plays a crucial role in the transition to clean and sustainable energy sources. Key driving factors include rising global energy demand, government incentives for renewable energy adoption, advancements in solar cell efficiency, and declining installation costs. Growing environmental concerns and the push for carbon neutrality further boost the market's expansion across residential, commercial, and industrial sectors.
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Photovoltaics Market Size & Statistics
- The Market Size for photovoltaics was Estimated to be Worth USD 558.57 Billion in 2024.
- The Market Size is going to Expand at a CAGR of 9.73 % between 2025 and 2035.
- The Global Photovoltaics Market Size is anticipated to Reach USD 1413.57 Billion by 2035.
- Asia Pacific is Expected to generate the highest demand during the forecast period in the photovoltaics Market.
- North America is Expected to Grow the fastest during the forecast period in the photovoltaics Market.
Regional growth and demand
North America is expected to grow the fastest during the forecast period in the photovoltaics market. North America is projected to witness the fastest growth in the photovoltaics market due to strong government incentives, including tax credits and renewable energy mandates. Rising electricity demand from sectors like data centers and EVs is driving the adoption of solar energy. Technological advancements in solar efficiency and storage systems are enhancing system reliability and cost-effectiveness. Additionally, corporate sustainability goals and favorable climatic conditions, especially in the southwestern U.S., are further accelerating the adoption of photovoltaic systems across the region.
Asia Pacific is expected to generate the highest demand during the forecast period in the photovoltaics market. Asia Pacific is expected to generate the highest demand in the photovoltaics market due to rapid urbanization, increasing energy needs, and supportive government policies promoting solar energy. Countries like China, India, and Japan are investing heavily in solar infrastructure to reduce reliance on fossil fuels and meet climate goals. Abundant sunlight, falling solar panel costs, and large-scale manufacturing capabilities also drive market expansion. Additionally, strong economic growth and rising environmental awareness are accelerating solar adoption across residential, commercial, and industrial sectors.
Top 10 Photovoltaics Trends
- High-Performance Photovoltaics Materials (HPPM)
- Solar Resource Assessment
- Artificial Intelligence
- Robotics
- Advanced Photovoltaics Engineering
- Solar Thermophotovoltaics (STPVs)
- PV Energy Management
- Solar-as-a-Service
- Sustainable Photovoltaics
- Blockchain
1. High-Performance Photovoltaics Materials
High-performance materials like perovskite and graphene enhance efficiency, lower costs, and expand photovoltaic applications across industrial and mobility sectors. The Global Photovoltaic (PV) Materials Market Size was Valued at USD 59.45 Billion in 2023 and Anticipated to Exceed USD 125.90 Billion by 2033, Growing at a CAGR of 7.79% from 2023 to 2033.
- Taiwan Perovskite Solar Corp. makes Perovskite Solar Cells
Taiwanese startup Taiwan Perovskite Solar Corp. develops low-toxicity, high-efficiency perovskite solar cells that are scalable, stable, and cost-effective compared to traditional silicon-based alternatives.
- CubicPV develops Monocrystalline Wafers
US-based startup CubicPV produces durable monocrystalline wafers using direct casting, improving scalability and reducing PV panel replacement time.
2. Solar Resource Assessment
PV startups use AI, ML, and physics-based models for accurate yield prediction, enhancing uptime and optimizing solar energy production.
- CRCL Solutions provides Solar Energy Production Forecasts
US-based startup CRCL Solutions provides solar power forecasts using AI and physics-based models for farms and regional systems. It enables accurate, real-time, and day-ahead power predictions for traders and producers.
- WattCloud offers Cloud Coverage Assessments
Australian startup WattCloud offers cloud forecasting using machine learning, cameras, and climate data to predict cloud impact and optimize solar power plant operations.
3. Artificial Intelligence
AI enhances PV systems by enabling efficient energy management, solar forecasting, and defect detection. It improves reliability, site selection, and adapts energy production to demand, maximizing solar power efficiency.
- Meson Labs delivers AI-based Solar Power Forecasts
Indian startup Meson Labs uses AI to predict PV power production. Its product, Sunflower, analyzes cloud cover using computer vision to optimize solar plant operations.
- SmartHelio enables Real-time PV Fault Detection
Swiss startup SmartHelio offers Autopilot, a plug-and-play software that automates PV plants using pattern recognition. It detects defects, predicts failures, and recommends real-time actions. This reduces maintenance costs and boosts efficiency.
4. Robotics
Manual PV plant maintenance is costly and labor-intensive. Startups offer robotic systems for inspection, cleaning, and positioning—boosting efficiency, reducing downtime, cutting labor costs, and improving safety.
- Solar Drone Advances Solar Panel Automation
Israeli startup Solar Drones uses autonomous drones and machine learning to monitor, maintain, and secure solar panels across diverse shapes and terrains, enhancing efficiency through real-time data insights.
- Sun-X manufactures a PV Soiling Cleaning System
German startup Sun-X offers a modular cleaning robot for solar plants with intelligent arms, fast brush changes, and high durability, enabling efficient, unmanned cleaning across varied terrains and inclinations.
5. Advanced Photovoltaics Engineering
Novel PV engineering improves solar cell efficiency, performance, and reliability by using advanced materials like perovskite inks and organic dyes, enabling low-cost, colorful, and portable solar energy solutions for varied applications.
- Solaires Enterprises Manufactures Perovskite Ink
Solaires develops perovskite ink enabling high-efficiency, stable solar films on rigid or flexible substrates using coating or inkjet printing methods.
- Levante creates Portable Solar Panels
Levante’s portable solar panels use patented monocrystalline technology, offering compact, lightweight, self-supporting, quick deployment for remote, small-scale electricity generation.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the photovoltaics market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 16 Companies Leading the Photovoltaics Market
- Jinko Solar
- JA SOLAR Technology Co., Ltd.
- Trinasolar
- LONGi
- Tongwei Co.Ltd
- Canadian Solar
- First Solar (US)
- Hanwha Qcells
- Mitsubishi Electric Corporation
- SHARP CORPORATION
- Wuxi Suntech Power Co., Ltd.
- Huawei Technologies Co., Ltd.
- SUNGROW
- SMA Solar Technology AG
- SolarEdge
1. Jinko Solar
Headquartered: Shanghai, China
Jinko Solar is one of the world’s largest and most innovative solar module manufacturers. The company vertically integrates its operations, from silicon wafer production to module assembly, enabling superior quality control and cost efficiency. Jinko Solar has a global presence with manufacturing facilities in China, Malaysia, and the U.S., and it serves customers in over 160 countries. Known for high-performance photovoltaic products, including its Tiger Neo N-type series, Jinko focuses heavily on R&D to drive next-generation solar technologies. The company plays a vital role in expanding global renewable energy capacity and reducing carbon footprints.
2. JA SOLAR Technology Co., Ltd.
Headquartered: Beijing, China
JA Solar Technology Co., Ltd. is a leading global manufacturer of high-performance photovoltaic products. The company was established in 2005 and specializes in the production of silicon wafers, cells, and solar modules. It supplies a wide range of products for residential, commercial, and utility-scale power generation. JA Solar has a strong international market presence with 13 manufacturing bases and over 20 subsidiaries worldwide. The company is renowned for technological innovation, quality, and reliability. Its products are widely recognized for efficiency and durability, making JA Solar a trusted name in the global solar energy industry.
3. Trina Solar
Headquartered: Changzhou, Jiangsu Province, China
Trina Solar is a globally recognized solar energy solutions provider. Founded in 1997, the company designs, manufactures, and sells a wide range of photovoltaic modules, smart energy solutions, and solar system integration services. Trina Solar is known for its Vertex module series and advanced research in bifacial and n-type technology. The company also develops and manages large-scale solar projects globally. With a strong focus on innovation and sustainability, Trina Solar has a presence in over 100 countries, delivering clean and affordable solar power to diverse markets across residential, commercial, and utility sectors.
4. LONGi Green Energy Technology Co., Ltd.
Headquartered: Xi'an, China
LONGi is one of the world’s most valuable solar technology companies, specializing in monocrystalline silicon products. Founded in 2000, the company has a strong reputation for producing high-efficiency solar wafers, cells, and modules. LONGi is known for its Hi-MO series, which are widely used in residential and utility-scale projects. It has manufacturing operations in China, Vietnam, and Malaysia, along with global offices to support international expansion. With a strong emphasis on R&D and sustainability, LONGi leads in driving solar power adoption, consistently setting new benchmarks in energy efficiency, product reliability, and cost-effectiveness in photovoltaics.
5. Tongwei Co., Ltd.
Headquartered: Chengdu, Sichuan Province, China
Tongwei Co., Ltd. is a major player in both the solar photovoltaics and aquaculture industries. Established in 1992, the company entered the solar sector in the 2000s and has become one of the world’s leading producers of high-purity polysilicon and solar cells. Tongwei is vertically integrated, operating multiple advanced production facilities across China. It supplies core materials to top-tier module manufacturers worldwide. The company emphasizes green development and energy efficiency, supporting global carbon neutrality goals. Tongwei's commitment to technology advancement and clean energy has made it a key contributor to the solar energy revolution.
Are you ready to discover more about the Photovoltaics market?
The report provides an in-depth analysis of the leading companies operating in the global Photovoltaics market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Jinko Solar
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- JA SOLAR Technology Co., Ltd.
- Trinasolar
- LONGi
- Tongwei Co.Ltd
- Canadian Solar
- First Solar (US)
- Hanwha Qcells
- Mitsubishi Electric Corporation
- SHARP CORPORATION
- Wuxi Suntech Power Co., Ltd.
- Huawei Technologies Co., Ltd.
- SUNGROW
- SMA Solar Technology AG
- SolarEdge
Conclusion
The global photovoltaics market is undergoing a significant transformation driven by advanced technologies, supportive policies, and rising demand for clean energy. High-performance materials like perovskite and graphene, combined with AI, robotics, and smart engineering, are reshaping solar energy generation. With leading companies like Jinko Solar, JA Solar, Trina, LONGi, and Tongwei driving innovation and global expansion, the sector is poised for sustained growth. Opportunities in energy storage, rural electrification, and sustainable infrastructure are rapidly expanding. As solar adoption accelerates across residential, commercial, and industrial sectors, stakeholders must adapt early to stay competitive in this fast-evolving renewable energy landscape.
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