태양광 PV 제조 장비 시장 기회, 성장 촉진 요인, 산업 동향 분석, 예측(2025-2034년)

The Global Solar PV Manufacturing Equipment Market was valued at USD 16.6 billion in 2024 and is estimated to grow at a CAGR of 23.1% to reach USD 108.4 billion by 2034. This expansion is driven by the increasing focus on energy independence and the growing need for reliable and resilient domestic production of solar components. Rising geopolitical uncertainties have intensified the urgency for countries to localize manufacturing operations, especially for critical upstream components such as wafers, cells, and modules. This shift toward domestic production is enhancing industrial activity and encouraging major investments in solar PV infrastructure and equipment.

Growing adoption of advanced cell technologies is further reshaping the landscape of the solar PV manufacturing equipment market. Manufacturers are heavily investing in state-of-the-art production lines capable of handling innovations in high-efficiency cell types and module designs. These enhancements not only improve energy yields but also help optimize production costs. Equipment developers are increasingly integrating automation, AI tools, and machine learning into their systems, which is significantly improving manufacturing precision and scalability. This trend is lowering entry barriers for new players and providing opportunities for existing companies to expand operations.

As countries ramp up efforts to meet decarbonization goals and tackle rising electricity consumption, demand for solar equipment is intensifying across multiple sectors. Industrial-scale machinery fabrication is becoming more vital than ever to meet the rising need for solar deployment across residential, commercial, and utility applications. The upstream segment, which includes the production of polysilicon, ingots, wafers, solar cells, and finished modules, continues to experience substantial demand, fueling the expansion of the equipment market.

Trade policies are also shaping the market dynamics significantly. Trade restrictions on foreign solar PV products are prompting global manufacturers to diversify their supply chains and relocate production capacities to alternative manufacturing-friendly regions. While this shift supports the development of emerging industrial hubs and reduces dependency on traditional supply sources, it is expected to cause a short-term increase in equipment prices and affect project timelines during the transition.

By application, the market is categorized into residential, commercial, and utility segments. The residential segment is expected to surpass USD 32 billion by 2034, bolstered by rising energy costs, increased homeowner awareness of sustainability, and favorable regulatory incentives. Technological advancements, such as the integration of smart features and battery storage in home systems, are making residential solar installations more appealing. Consumers are also seeking greater energy autonomy, and their growing interest in backup solutions during grid outages is contributing to the sector's momentum.

In terms of technology, the solar PV manufacturing equipment market is segmented into thin film and crystalline silicon categories. Crystalline silicon technology currently dominates the market with a 94.8% share as of 2024. Its dominance is attributed to its higher energy conversion rates, abundant material availability, and ongoing technological enhancements. Among the various applications, monocrystalline silicon remains the preferred choice due to its ability to deliver greater output in limited space, making it ideal for both residential rooftops and high-density commercial or utility installations.

Regionally, the market is witnessing notable growth in North America, which accounted for over 9.6% of the global market share in 2024-a figure expected to increase by 2034. The United States alone recorded a market value of USD 1 billion in 2022, rising to USD 1.2 billion in 2023 and USD 1.5 billion in 2024. Supportive policy measures are playing a crucial role in driving this growth. Comprehensive legislative packages aimed at bolstering domestic manufacturing, including tax credits and production incentives, are reducing capital costs and attracting new investments across the solar supply chain.

As global supply chain vulnerabilities continue to surface, domestic manufacturing ecosystems are being prioritized, leading to a surge in investment in vertically integrated operations. Companies are increasingly bringing in-house the entire production process-from raw materials to final product assembly-to ensure better control over costs, quality, and lead times. Strategic partnerships with regional firms are also becoming more frequent, providing access to local expertise and facilitating faster market penetration. These collaborations are fostering technology transfer and speeding up the commercialization of next-generation solar technologies.

Table of Contents

Chapter 1 Methodology & Scope

• 1.1 Research design
• 1.2 Base estimates & calculations
• 1.3 Forecast model
• 1.4 Primary research & validation
  • 1.4.1 Primary sources
  • 1.4.2 Data mining sources
• 1.5 Market definitions

Chapter 2 Executive Summary

• 2.1 Industry synopsis, 2021 – 2034

Chapter 3 Industry Insights

• 3.1 Industry ecosystem
• 3.2 Trump administration tariff analysis
  • 3.2.1 Impact on trade
    • 3.2.1.1 Trade volume disruptions
    • 3.2.1.2 Retaliatory measures
  • 3.2.2 Impact on the industry
    • 3.2.2.1 Supply-side impact (raw materials)
      • 3.2.2.1.1 Price volatility in key materials
      • 3.2.2.1.2 Supply chain restructuring
      • 3.2.2.1.3 Production cost implications
    • 3.2.2.2 Demand-side impact (selling price)
      • 3.2.2.2.1 Price transmission to end markets
      • 3.2.2.2.2 Market share dynamics
      • 3.2.2.2.3 Consumer response patterns
  • 3.2.3 Key companies impacted
  • 3.2.4 Strategic industry responses
    • 3.2.4.1 Supply chain reconfiguration
    • 3.2.4.2 Pricing and product strategies
    • 3.2.4.3 Policy engagement
  • 3.2.5 Outlook and future considerations
• 3.3 Regulatory landscape
• 3.4 Industry impact forces
  • 3.4.1 Growth drivers
  • 3.4.2 Industry pitfalls & challenges
• 3.5 Growth potential analysis
• 3.6 Porter's analysis
  • 3.6.1 Bargaining power of suppliers
  • 3.6.2 Bargaining power of buyers
  • 3.6.3 Threat of new entrants
  • 3.6.4 Threat of substitutes
• 3.7 PESTEL analysis

Chapter 4 Competitive landscape, 2024

• 4.1 Introduction
• 4.2 Company market share
• 4.3 Strategic dashboard
• 4.4 Company benchmarking
• 4.5 Innovation & technology landscape

Chapter 5 Market Size and Forecast, By Manufacturing Equipment, 2021 – 2034 (USD Billion)

• 5.1 Key trends
• 5.2 Silicon equipment
• 5.3 Ingots equipment
• 5.4 Wafer equipment
• 5.5 Cells equipment
• 5.6 Module equipment

Chapter 6 Market Size and Forecast, By Technology, 2021 – 2034 (USD Billion)

• 6.1 Key trends
• 6.2 Crystalline silicon
• 6.3 Thin film

Chapter 7 Market Size and Forecast, By Application, 2021 – 2034 (USD Billion)

• 7.1 Key trends
• 7.2 Residential
• 7.3 Commercial
• 7.4 Utility

Chapter 8 Market Size and Forecast, By Region, 2021 – 2034 (USD Billion)

• 8.1 Key trends
• 8.2 North America
  • 8.2.1 U.S.
  • 8.2.2 Canada
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 France
  • 8.3.4 Spain
  • 8.3.5 Italy
• 8.4 Asia Pacific
  • 8.4.1 China
  • 8.4.2 India
  • 8.4.3 Japan
  • 8.4.4 Australia
  • 8.4.5 South Korea
• 8.5 Middle East & Africa
  • 8.5.1 Saudi Arabia
  • 8.5.2 UAE
  • 8.5.3 Qatar
  • 8.5.4 South Africa
• 8.6 Latin America
  • 8.6.1 Brazil
  • 8.6.2 Argentina
  • 8.6.3 Chile
  • 8.6.4 Mexico

Chapter 9 Company Profiles

• 9.1 Adani Solar
• 9.2 Emmvee
• 9.3 First Solar
• 9.4 Goldi Solar
• 9.5 Grew Solar
• 9.6 JA Solar
• 9.7 LDK Solar
• 9.8 Premier Energies
• 9.9 RenewSys
• 9.10 Servotech Renewable Power System
• 9.11 Tata Power Solar
• 9.12 Tongwei Solar
• 9.13 Trina Solar
• 9.14 Vikram Solar
• 9.15 Waaree Energies