The global market for photovoltaic modules and inverters is projected to exceed $115.8 billion by 2030.

I. Asia Pacific becomes the main engine of global PV growth
GlobalData noted that the Asia-Pacific region (APAC) remains the core driver of the global photovoltaic industry. By 2030, the APAC PV module market size is expected to reach $46.2 billion, a significant increase from $38.8 billion in 2024.
The main reasons for the increase include:
Government policies: Countries in the region have introduced strong incentive policies for renewable energy sources and feed-in tariffs. Costs continue to decline: Technological advances and economies of scale are driving component costs to continue to declines. Carbon Neutrality Goals: Countries are setting net-zero emissions targets for 2030 or 2050 to accelerate the transformation of their energy mix. Manufacturing capacity expansion: China, India and Southeast Asian countries continue to expand PV manufacturing capacity and promote localization of the supply chain.

II. Trade policies reshape global supply chains
The report pointed out that the adjustment of U.S. tariffs and anti-dumping policies is reshaping the global PV supply chain structure.
Bhavana Sri Pullagura, GlobalData Senior Power Divider, said:
"Anti-dumping and anti-subsidy policies against photovoltaic modules and cells in some Southeast Asian countries have significantly changed the supply chain layout and pushed up component prices in the United States market."
However, although installed capacity in the Americas is still growing, the continued decline in component prices and overcapacity will lead to a relative slowdown in the total market value.
This means that in the future, the PV market will be more fiercely competitive, prices will continue to show a downward trend, and efficient, low-carbon, differentiated technology routes will become the key for companies to break out.

III. The inverter market accelerates: energy storage and compliance become key
In addition to the component market, the rapid evolution of the inverter market is also a bright spot. GlobalData pointed out that the growth of the retrograde market is mainly due to:
Increased demand for large-scale ground power stations and hybrid energy storage systems; Increased grid connectivity requirements and cybersecurity standards (especially in Europe and the United States); New energy-storage-ready inverter technology is developing rapidly.
At present, the Asia-Pacific region remains the main global inverter production base, but the Middle East and Africa market is on the rise. These regions are in high demand for high-power, high-capacity inverters that support energy storage and will be a new engine for market growth in the coming years.

IV. Regional strategic differences: Asia-Pacific expands production, Europe and the United States focuses on quality and localization
Pullagura pointed out that the current global photovoltaic industry landscape is showing clear regional differences:
Asia Pacific: Continue to expand capacity, strengthen local manufacturing and supply chain self-sufficiency. Europe, Middle East and Africa: greater focus on product quality, technological innovation and localized production.
This differentiation trend will not only affect the future choice of technology routes and investment flows, but will also further change the structure and competitive landscape of the global photovoltaic supply chain.

V. Outlook 2030: Global PV installed capacity or over 4.8 TW
GlobalData also predicted earlier this year that global cumulative installed PV capacity will exceed 4.8 terawatts (TW) by the end of 2030 and will exceed 7.5 terawatts in 2035.
With the realization of affordable access to solar power, the commercialization of energy storage systems and the continuous optimization of the policy environment, the global photovoltaic industry is expected to enter a new stage of accelerated development around 2030.
Conclusion:
With the accelerated pace of global energy transformation, the value chain and supply chain of the photovoltaic industry is entering a restructuring phase. Who can take the lead in technological innovation, cost control and market layout, who will become the biggest winner in the competition of new energy resources.