Manya Rathore
Research expert covering India
Global solar PV supply chain - statistics & facts
The adoption of solar energy is growing rapidly worldwide, with cumulative installations amounting to more than 2.2 terawatts as of the end of 2024. Between 2025 and 2029, global solar photovoltaic capacity additions are projected to increase yearly and range from some 655 gigawatts in 2025 to 930 gigawatts in 2029. To meet this growing demand, the solar manufacturing industry has experienced remarkable growth in the last few years, with global module manufacturing capacity increasing form only 326 gigawatts in 2020 to more than 1.3 terawatts in 2023. In that last year, the global solar PV chain reached an industrial business value of some 104.7 billion U.S. dollars, with China dominating the market, and followed by the United States and Malaysia.
