Market Size of China Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Solar Energy Market Analysis
The Chinese solar energy market is expected to record a CAGR of more than 15% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.
- Over the medium term, factors such as rising investment and increasing government policies for providing financial incentives and subsidies drive demand for the solar energy market.
- On the other hand, the solar power sector faces challenges from alternate sources of clean power generation, mainly natural gas, and wind power. It is restraining demand for the Chinese solar energy market.
- Nevertheless, capital costs are predicted to stabilize at lower levels with advances in technology, improvements in the solar photovoltaic market, and an increase in the supply of panels in China. As a result, it is anticipated that investors and developers will pay close attention to the commercial feasibility of solar projects, which will soon present chances for the solar energy market in China.
China Solar Energy Industry Segmentation
Solar energy can be defined as a type of renewable energy in which solar panels are used to generate electricity. Solar energy has become the fastest-growing renewable energy source owing to the country's supporting government initiatives and surging investments in renewable energy projects.
The Chinese solar energy market is segmented by type By type; the market is segmented into solar photovoltaic (PV) and concentrated solar power (CSP). The report also covers the market size and forecasts for the solar energy market across the segment. For each segment, the market sizing and forecasts have been done based on installed capacity (GW).
| Type | |
| Solar Photovoltaic (PV) | |
| Concentrated Solar Power (CSP) |
China Solar Energy Market Size Summary
The Chinese solar energy market is poised for substantial growth, driven by increasing investments and supportive government policies that offer financial incentives and subsidies. Despite challenges from alternative clean energy sources like natural gas and wind power, advancements in technology and the solar photovoltaic (PV) market are expected to stabilize capital costs at lower levels. This stabilization, coupled with an increased supply of solar panels, is likely to enhance the commercial feasibility of solar projects, presenting new opportunities for market expansion. The solar PV segment, in particular, is anticipated to experience significant growth due to the declining costs of solar modules and their versatility in applications such as electricity generation and water heating.
China's commitment to achieving carbon neutrality by 2060 and peak emissions by 2030 is a major driver of the solar energy market's growth. The country is the largest global investor in renewable energy, aiming to increase the share of non-fossil energy consumption significantly by 2025 and 2030. With substantial solar capacity additions and plans for extensive solar and wind projects, China is set to enhance its solar energy infrastructure. The market is moderately fragmented, with key players like Zhejiang Chint Electrics, JA Solar Holdings, and Trina Solar Ltd. actively contributing to its development. Recent developments, such as new production facilities and large-scale solar projects, further underscore the market's potential for growth during the forecast period.
China Solar Energy Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Installed Capacity and Forecast in GW, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Solar Photovoltaic (PV)
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2.1.2 Concentrated Solar Power (CSP)
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China Solar Energy Market Size FAQs
What is the current China Solar Energy Market size?
The China Solar Energy Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)
Who are the key players in China Solar Energy Market?
Zhejiang Chint Electrics Co Ltd , JA SOLAR HOLDINGS CO., LTD. , Trina Solar Ltd. , Yingli Green Energy Holding Co Ltd and Hanwha SolarOne, Ltd. are the major companies operating in the China Solar Energy Market.
