According to GlobalData's Solar PV Modules and Inverters Market Trends and Analysis report, the global solar PV module market was valued at $102. The Asia-Pacific (APAC) region led the charge in 2023, registering $60. Global solar PV manufacturing capacity has increasingly moved from Europe, Japan and the United States to China over the last decade. China has invested over USD 50 billion in new PV supply capacity – ten times more than Europe − and created more than 300 000 manufacturing jobs across the solar PV. IEA PVPS has released its latest Trends in Photovoltaic Applications 2025 report, revealing that the world's cumulative installed PV capacity surpassed 2 260 GW by the end of 2024, marking a 29% year-on-year increase. 12bn in market value by 2028, according to Power Technology 's parent company, GlobalData. As the world moves towards greener energy solutions, solar power has gained significant momentum. Market Leader: Jinko Solar led with over 15% market share in 2024. Crystalline Silicon will dominate with a 61. 7 billion in 2025 and is projected to reach USD 832.
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