• Cat-intel
  • MedIntelliX
  • Resources
  • About Us
  • Request Free Sample ×

    Kindly complete the form below to receive a free sample of this Report

    Leading companies partner with us for data-driven Insights

    clients tt-cursor

    APAC Photovoltaic Market

    ID: MRFR/E&P/52982-HCR
    200 Pages
    Chitranshi Jaiswal
    September 2025

    APAC Photovoltaic Market Research Report By Type (Organic PV, Inorganic PV) and By Regional (China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC)-Forecast to 2035

    Share:
    Download PDF ×

    We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

    APAC Photovoltaic Market Infographic
    Purchase Options
    $ 4,950.0
    $ 5,950.0
    $ 7,250.0

    APAC Photovoltaic Market Summary

    The Asia-Pacific APAC Photovoltaic market is projected to experience substantial growth, reaching 77.5 USD Billion by 2035.

    Key Market Trends & Highlights

    APAC Photovoltaic Key Trends and Highlights

    • The market valuation is expected to increase from 40.2 USD Billion in 2024 to 77.5 USD Billion by 2035.
    • The compound annual growth rate (CAGR) for the period from 2025 to 2035 is estimated at 6.16%.
    • This growth trajectory indicates a robust expansion in the adoption of photovoltaic technologies across the region.
    • Growing adoption of renewable energy sources due to increasing environmental awareness is a major market driver.

    Market Size & Forecast

    2024 Market Size 40.2 (USD Billion)
    2035 Market Size 77.5 (USD Billion)
    CAGR (2025-2035) 6.16%

    Major Players

    Trina Solar, Canadian Solar, Hanwha Q CELLS, Risen Energy, SunPower, Yingli Solar, First Solar, ChiPower, Seraphim Solar, LONGi Green Energy, JinkoSolar, GCLPoly Energy, JA Solar, Sungrow Power Supply

    APAC Photovoltaic Market Trends

    The APAC Photovoltaic Market is experiencing several important trends driven by the rapid economic growth and increasing energy demand in the region. One of the key market drivers is the strong government support for renewable energy initiatives. Many APAC countries are implementing policies and regulations that promote solar energy adoption, including feed-in tariffs, tax incentives, and net metering systems. This government backing encourages investment and leads to technological advancements, making solar power more accessible and affordable.

    There are numerous opportunities to be explored within this market, particularly in developing nations like India and Vietnam, where solar energy infrastructure is still emerging.The potential for growth in solar panel production and installation services is substantial as these countries improve their energy policies and infrastructure.

    Additionally, the adoption of photovoltaic systems throughout the region is being expedited by the collaboration between international firms and local administrations, which is promoting innovation. Consequently, APAC is on the brink of becoming a prominent participant in the global renewable energy sector, with photovoltaic technology playing a critical role in the development of the future energy framework.

     

       

    Market Segment Insights

    Photovoltaic Market Type Insights

    Photovoltaic Market Type Insights

    The APAC Photovoltaic Market is showcasing significant growth, largely driven by the increasing adoption of renewable energy solutions and advancements in solar technology. Within the Type segment, two primary categories stand out: Organic PV and Inorganic PV, each characterized by distinct properties and applications. Organic PV systems are gaining traction due to their lightweight, flexibility, and potential for cost-effective production, making them suitable for a variety of applications, ranging from building-integrated photovoltaics to portable electronics.This segment often appeals to markets seeking innovative and versatile energy solutions.

    On the other hand, Inorganic PV, which includes traditional silicon-based solar panels, continues to dominate the energy landscape, owing to their efficiency, durability, and established reliability. The APAC region, home to significant manufacturing enterprises and technological advancements, propels the market forward, with countries investing heavily in photovoltaic technology as part of their commitment to combat climate change. Overall, the growth of both Organic and Inorganic PV segments underscores diverse opportunities in the APAC Photovoltaic Market.

    Technological advancements, economies of scale, and supportive government policies act as critical enablers for market expansion. However, challenges remain, including the need for cost reductions and efficiency improvements, ensuring that these segments not only meet current energy demands but also cater to future energy needs in a sustainable manner.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Get more detailed insights about APAC Photovoltaic Market Research Report-Forecast to 2035

    Regional Insights

    The APAC Photovoltaic Market is experiencing robust growth, driven by increasing demand for sustainable energy solutions across the region. China holds a dominant position in the market, being a leading manufacturer and consumer of photovoltaic technology, driven by supportive government policies and significant investments in solar infrastructure. India follows closely, promoting renewable energy through ambitious targets and solar policies, capturing the attention of investors, and enhancing energy security.

    Japan emphasizes technological advancements and is a key player in the innovation of solar energy.South Korea showcases a strong commitment to renewable energy and has been expanding its solar installations significantly due to favorable regulations. Malaysia is becoming a prominent player as it improves its solar manufacturing capabilities and attracts foreign investments.

    Thailand and Indonesia are witnessing rapid growth in solar projects, supported by government initiatives aimed at sustainable development and energy diversification. The Rest of APAC is also enhancing its photovoltaic landscape, driven by increasing awareness of climate change and rising energy costs.This diverse landscape presents numerous opportunities for growth in APAC Photovoltaic Market revenue, making the region a focal point for future investments and technological advancements in the solar industry.

    APAC Photovoltaic Market Region   

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    The APAC Photovoltaic Market has emerged as one of the most dynamic and rapidly growing segments within the global renewable energy landscape. A convergence of technological advancements, government policies promoting sustainability, and increased environmental awareness among consumers has fueled remarkable expansions within this sector. Competing entities within this market are not only driven by innovation in photovoltaic technologies but also by the necessity to provide systems that are cost-effective and compatible with a diverse range of geographical and climatic conditions prevalent across the Asia-Pacific region.

    This complex interplay of competitive strategies involves significant investments in research and development, as companies aim to enhance their market share while addressing challenges related to supply chains, regulatory frameworks, and infrastructure development. Stakeholders frequently analyze market development trends, pricing strategies, and collaborations to understand their positioning within this rapidly evolving ecosystem.In the APAC Photovoltaic Market, Trina Solar stands out as a formidable player driven by its strong commitment to innovation and performance.

    The company's ability to produce high-efficiency solar modules, alongside its strong emphasis on research and development, significantly bolsters its competitive edge. Trina Solar has established a well-recognized presence across various countries in the APAC region by implementing effective distribution channels and forming strategic partnerships. The company's strengths lie in its comprehensive portfolio of solar solutions, including the design and manufacturing of solar panels, energy storage systems, and smart energy management technologies.

    This versatility allows Trina Solar to cater to diverse client needs while maintaining high-quality standards in its offerings. Moreover, the establishment of global manufacturing capacities has enabled Trina Solar to optimize production costs, enhancing its ability to compete against regional and local manufacturers effectively.Canadian Solar has also carved out a substantial foothold in the APAC Photovoltaic Market through its dedication to delivering efficient and sustainable energy solutions.

    Offering a broad range of solar products, including high-performance solar modules, inverters, and utility-scale solar power projects, Canadian Solar stands out for its strategic product diversification. The company has gained significant market trust due to its strong focus on operational excellence and a robust supply chain network, which has been further enhanced through various mergers and acquisitions aimed at expanding its market presence in the region.

    Notably, Canadian Solar's collaboration with local manufacturers and stakeholders has strengthened its position by enabling it to tailor its offerings to meet specific regional demands while adhering to the stringent regulatory requirements in the APAC region. This adaptability, combined with a commitment to sustainable practices and technological innovation, solidifies Canadian Solar's status as a key player within the highly competitive landscape of the APAC Photovoltaic Market.

    Key Companies in the APAC Photovoltaic Market market include

    Industry Developments

    The APAC Photovoltaic Market has witnessed significant developments and current affairs recently. Notably, Trina Solar and LONGi Green Energy have reported substantial growth in market valuation owing to increased demand for renewable energy sources spurred by government policies favoring clean energy transitions. In terms of mergers and acquisitions, Hanwha Q CELLS announced its acquisition of a major solar project in August 2023, enhancing their portfolio in the region.

    JA Solar has also expanded its product offerings significantly throughout 2023 to cater to the rising demand across various APAC countries, including India and Australia. Additionally, Chinese companies such as JinkoSolar and GCLPoly Energy continue to dominate the regional market, leveraging economies of scale and competitive pricing strategies.

    Notably, recent data suggests that the total installed solar capacity in the APAC region hit 236 gigawatts by mid-2023, showcasing the growing emphasis on solar energy as a primary energy source. Governments in this region are actively implementing policies to encourage photovoltaic installations, thus driving market expansion and strengthening the overall renewable energy infrastructure across APAC in recent years.

    Market Segmentation

    Photovoltaic Market Type Outlook

    • Organic PV
    • Inorganic PV

    Photovoltaic Market Regional Outlook

    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Thailand
    • Indonesia
    • Rest of APAC

    Report Scope

     
    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 38.0(USD Billion)
    MARKET SIZE 2024 40.2(USD Billion)
    MARKET SIZE 2035 77.55(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 6.155% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Billion
    KEY COMPANIES PROFILED Trina Solar, Canadian Solar, Hanwha Q CELLS, Risen Energy, SunPower, Yingli Solar, First Solar, ChiPower, Seraphim Solar, LONGi Green Energy, JinkoSolar, GCLPoly Energy, JA Solar, Sungrow Power Supply
    SEGMENTS COVERED Type, Regional
    KEY MARKET OPPORTUNITIES Rising solar energy adoption, Government incentives for solar projects, Technological advancements in PV efficiency, Increased demand for sustainable energy, Expansion of photovoltaic manufacturing facilities
    KEY MARKET DYNAMICS government policies and incentives, technological advancements, decreasing system costs, increasing energy demand, environmental sustainability initiatives
    COUNTRIES COVERED China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC

    FAQs

    What is the projected market size of the APAC Photovoltaic Market in 2035?

    The APAC Photovoltaic Market is expected to be valued at 77.55 billion USD in 2035.

    What is the expected CAGR for the APAC Photovoltaic Market from 2025 to 2035?

    The market is anticipated to grow at a CAGR of 6.155% from 2025 to 2035.

    Which region holds the largest market share in the APAC Photovoltaic Market?

    China holds the largest market share with a projected value of 42.23 billion USD in 2035.

    How much is the APAC Photovoltaic Market valued at in 2024?

    The market is valued at 40.2 billion USD in 2024.

    What is the expected market value for Organic PV in 2035?

    The Organic PV segment is projected to be valued at 30.5 billion USD in 2035.

    What are the anticipated market sizes for Inorganic PV in 2024 and 2035?

    Inorganic PV is valued at 24.1 billion USD in 2024 and expected to reach 47.05 billion USD in 2035.

    Which key players are leading the APAC Photovoltaic Market?

    Major players include Trina Solar, Canadian Solar, Hanwha Q CELLS, and JinkoSolar among others.

    What is the projected value of the APAC Photovoltaic Market in India by 2035?

    The market in India is expected to reach 17.88 billion USD by 2035.

    What market value is projected for Japan's APAC Photovoltaic Market by 2035?

    Japan's market is projected to be valued at 10.89 billion USD in 2035.

    What growth challenges and opportunities exist in the APAC Photovoltaic Market?

    The market faces challenges such as regulatory hurdles while presenting significant opportunities in renewable energy adoption.

    APAC Photovoltaic Market Research Report-Forecast to 2035 Infographic
    Free Sample Request

    Kindly complete the form below to receive a free sample of this Report

    Customer Stories

    “I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.”

    Victoria Milne Founder
    Case Study
    Chemicals and Materials