Solar PV Market in APAC
Over the long term, the major factor driving the global solar
Asia Pacific utility-scale grid solar PV market is anticipated to exceed USD 56 billion by 2032, owing to the increasing focus on large-scale solar projects to meet growing energy demands sustainably in the region. How big is the on-grid solar PV market in China?
Electricity generation in the Renewable Energy market in Central Asia is projected to reach 68.50bn kWh in 2025. An annual growth rate of 5.08% is anticipated for the period from 2025 to 2029 (CAGR 2025-2029).
Key Insights Beneficial to the Asia Pacific Solar Power Market: China leads the global solar market, contributing over 50% of total installed solar capacity. India aims to achieve 280 GW of solar capacity by 2030 under its renewable energy goals. Japan has over 78 GW of installed solar capacity, making it one of the top solar adopters.
The Asia-Pacific solar power market size was reached at USD 133.17 billion in 2024 and is expected to be worth around USD 1,084.32 billion by 2034, growing at a compound annual growth rate (CAGR) of 25.31% over the forecast period 2025 to 2034.
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