Residential Solar PV Module Market Growth, Trends and Future Outlook 2034
Global Residential Solar PV Module Market Growth, Size, Trends Analysis - By Connectivity, By Mounting - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: POAE2585 | Pages: 1 - 233 | Formats*: |
| Category : Power & Energy | |||
Residential Solar PV Module Market Introduction and Overview
According to SPER Market Research, the Global Residential Solar PV Module Market is estimated to reach USD 90.55 billion by 2034 with a CAGR of 5.86%.
The report includes an in-depth analysis of the Global Residential Solar PV Module Market, including market size and trends, product mix, Applications, and supplier analysis. The global residential solar PV module market is experiencing rapid growth driven by increasing demand for clean and sustainable energy solutions. Rising electricity costs, favorable government incentives, and growing environmental awareness are key factors fueling residential solar adoption worldwide. Technological advancements such as high-efficiency panels, smart inverters, and innovative mounting solutions further enhance market appeal. Urbanization and the push for energy independence also contribute to expanding residential solar installations. As homeowners seek to reduce energy bills and carbon footprints, the market is poised for continued expansion, with significant opportunities emerging across North America, Europe, and the Asia-Pacific regions.
By Connectivity Insights
In the global residential solar PV module market, the connectivity segment includes off-grid and on-grid systems. Among these, on-grid solar systems dominate due to their ability to feed excess electricity back to the grid, offering homeowners cost savings and incentives. On-grid systems are widely preferred in urban and suburban areas with reliable grid access. Off-grid systems, while important in remote or rural regions without grid connectivity, represent a smaller share of the residential market globally.
By Mounting Insights
In the global residential solar PV module market, the mounting segment plays a crucial role, with rooftop and ground-mounted systems as key subsegments. Among these, rooftop mounting dominates due to limited space in urban residential areas and ease of installation. Rooftop systems offer direct integration with homes, maximizing energy use and reducing transmission losses. Ground-mounted installations, while growing in larger properties, remain less common in residential settings due to higher space and cost requirements.
By Regional Insights
The global residential solar PV module market shows significant regional variations. North America, driven by strong government incentives and increased domestic manufacturing, is rapidly expanding. Europe, led by Germany, focuses on large-scale deployments despite market price challenges. Asia-Pacific, particularly India and China, experiences robust growth fueled by government policies and rising energy demand. Technological advancements and local manufacturing capacity are key regional drivers, shaping competitive landscapes and accelerating adoption of residential solar solutions worldwide.
Market Competitive Landscape
To strengthen their position in the Global Residential Solar PV Module Market, several of the leading brands are concentrating on research and development initiatives. Some of the key market players are Canadian Solar, CHINT Group, First Solar, JA SOLAR Technology Co., Ltd, JinkoSolar, LG Electronics, Shunfeng International Clean Energy Co., Ltd, The Solaria Corporation, Trina Solar.
Recent Developments:
- In May 2024 – The U.S. solar industry recorded a 190% increase in domestic solar PV module manufacturing capacity, growing from 14.5 GW in 2023 to 42.1 GW by the end of 2024. This surge reflects rising demand for residential installations and government efforts to reduce dependency on imports through incentives under the Inflation Reduction Act.
- In April 2024 – Germany achieved a record 16.2 GW of solar capacity deployment, with nearly two-thirds attributed to residential and commercial systems. This expansion supports the country’s climate goals, though market players face challenges such as overproduction and falling panel prices, impacting profitability.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Connectivity, By Mounting |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | Canadian Solar, CHINT Group, First Solar, JA SOLAR Technology Co., Ltd, JinkoSolar, LG Electronics, Shunfeng International Clean Energy Co., Ltd, The Solaria Corporation, Trina Solar. |
Key Topics Covered in the Report
- Global Residential Solar PV Module Market Size (FY’2021-FY’2034)
- Overview of Global Residential Solar PV Module Market
- Segmentation of Global Residential Solar PV Module Market By Connectivity (Off grid, On grid)
- Segmentation of Global Residential Solar PV Module Market By Mounting (Ground mounted, Roof top)
- Statistical Snap of Global Residential Solar PV Module Market
- Expansion Analysis of Global Residential Solar PV Module Market
- Problems and Obstacles in Global Residential Solar PV Module Market
- Competitive Landscape in the Global Residential Solar PV Module Market
- Details on Current Investment in Global Residential Solar PV Module Market
- Competitive Analysis of Global Residential Solar PV Module Market
- Prominent Players in the Global Residential Solar PV Module Market
- SWOT Analysis of Global Residential Solar PV Module Market
- Global Residential Solar PV Module Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. Global Residential Solar PV Module Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration Global Residential Solar PV Module Market
7. Global Residential Solar PV Module Market, By Connectivity (USD Million) 2025-2034
- 7.1. On grid
- 7.2. Off grid
8. Global Residential Solar PV Module Market, By Mounting (USD Million) 2025-2034
- 8.1. Ground mounted
- 8.2. Roof top
9. Global Residential Solar PV Module Market, 2025-2034 (USD Million)
- 9.1. Global Residential Solar PV Module Market Size and Market Share
10. Global Residential Solar PV Module Market, By Region, 2025-2034 (USD Million)
- 10.1. Asia-Pacific
- 10.1.1. Australia
- 10.1.2. China
- 10.1.3. India
- 10.1.4. Japan
- 10.1.5. South Korea
- 10.1.6. Rest of Asia-Pacific
- 10.2. Europe
- 10.2.1. France
- 10.2.2. Germany
- 10.2.3. Italy
- 10.2.4. Spain
- 10.2.5. United Kingdom
- 10.2.6. Rest of Europe
- 10.3. Middle East and Africa
- 10.3.1. Kingdom of Saudi Arabia
- 10.3.2. United Arab Emirates
- 10.3.3. Qatar
- 10.3.4. South Africa
- 10.3.5. Egypt
- 10.3.6. Morocco
- 10.3.7. Nigeria
- 10.3.8. Rest of Middle-East and Africa
- 10.4. North America
- 10.4.1. Canada
- 10.4.2. Mexico
- 10.4.3. United States
- 10.5. Latin America
- 10.5.1. Argentina
- 10.5.2. Brazil
- 10.5.3. Rest of Latin America
11. Company Profile
- 11.1. Canadian Solar
- 11.1.1. Company details
- 11.1.2. Financial outlook
- 11.1.3. Product summary
- 11.1.4. Recent developments
- 11.2. CHINT Group
- 11.2.1. Company details
- 11.2.2. Financial outlook
- 11.2.3. Product summary
- 11.2.4. Recent developments
- 11.3. First Solar
- 11.3.1. Company details
- 11.3.2. Financial outlook
- 11.3.3. Product summary
- 11.3.4. Recent developments
- 11.4. JA SOLAR Technology Co., Ltd
- 11.4.1. Company details
- 11.4.2. Financial outlook
- 11.4.3. Product summary
- 11.4.4. Recent developments
- 11.5. JinkoSolar
- 11.5.1. Company details
- 11.5.2. Financial outlook
- 11.5.3. Product summary
- 11.5.4. Recent developments
- 11.6. LG Electronics
- 11.6.1. Company details
- 11.6.2. Financial outlook
- 11.6.3. Product summary
- 11.6.4. Recent developments
- 11.7. Shunfeng International Clean Energy Co., Ltd
- 11.7.1. Company details
- 11.7.2. Financial outlook
- 11.7.3. Product summary
- 11.7.4. Recent developments
- 11.8. The Solaria Corporation
- 11.8.1. Company details
- 11.8.2. Financial outlook
- 11.8.3. Product summary
- 11.8.4. Recent developments
- 11.9. Trina Solar
- 11.9.1. Company details
- 11.9.2. Financial outlook
- 11.9.3. Product summary
- 11.9.4. Recent developments
- 11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Residential Solar PV Module Market is projected to reach USD 90.55 billion by 2034, growing at a CAGR of 5.86% during the forecast period.
Residential Solar PV Module Market grew in Market size from 2025. The Market is expected to reach USD 90.55 billion by 2034, at a CAGR of 5.86% during the forecast period.
Residential Solar PV Module Market CAGR of 5.86% during the forecast period.
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Residential Solar PV Module Market size is USD 90.55 billion from 2025 to 2034.
Residential Solar PV Module Market is covered By Connectivity, By Mounting
The North America is anticipated to have the highest Market share in the Residential Solar PV Module Market.
Canadian Solar, CHINT Group, First Solar, JA SOLAR Technology Co., Ltd, JinkoSolar, LG Electronics, Shunfeng International Clean Energy Co., Ltd, The Solaria Corporation, Trina Solar.
The report includes an in-depth analysis of the Global Residential Solar PV Module Market, including market size and trends, product mix, Applications, and supplier analysis
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