Photovoltaics Market
The photovoltaics market consists of solar power technology that converts sunlight directly into electricity using semiconducting cells. Key customers include residential, commercial, industrial, and utility-scale end-users. The market's significant growth is driven by increased government spending on clean energy, rising global consumption of renewables for energy security, and continuous innovation in high-performance materials.
CAGR
9.2%
Compound Annual Growth Rate
Current Value
$718.4B
Estimated 2026
Projected Value
$1.45T
By 2034
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