Photovoltaics is attracting global attention. The value of this market is expected to grow, as are prices.

The analytical company GlobalData has prepared a report on, among other things, the size of the global market forphotovoltaic modules and photovoltaic inverters and forecasts in these areas for 2024-2030.

At the end of October, the company announced that, according to a report, the global photovoltaic module market is expected to reach $80.7 billion in 2030, and the photovoltaic inverter market is expected to reach $35 billion.

These markets support sustainable development policies

This means that the forecast predicts growth in the value of these markets. Data presented in the press release indicate that in 2024, the global photovoltaic module market was valued at approximately $70 billion, while the inverter market was valued at less than $30 billion.

GlobalData is focusing on the Asia-Pacific region . In the press release, the company stated, among other things, that the Asia-Pacific photovoltaic module market was valued at $38.8 billion in 2024 and is estimated to reach $46.2 billion in 2030.

“The global solar module and inverter market is experiencing significant growth, supported by the accelerating global transition to sustainable energy solutions and net-zero emissions goals,” said Bhavana Sri Pullagura, energy analyst at GlobalData, as quoted in the release.

Three factors support the forecast of an increase in the price of photovoltaic modules

In turn, research and consulting firm Wood Mackenzie reported in early October 2025 that, according to its analysis, three converging factors occurring in China – consolidation of the polysilicon market, restrictions on its production, and the abolition of the 13% VAT export credit – will cause solar module prices to increase by about 9% in the fourth quarter of 2025, with a further increase expected in 2026.

Commenting on these factors, it was reported that Chinese production of polysilicon, which is used to make PV cells, quadrupled between 2022 and 2024, causing an oversupply and falling prices. However, government guidelines, it noted, limited the expansion.

In turn, pointing out that China will abolish the 13% VAT relief from the fourth quarter of 2025, Wood Mackenzie said that it applied not only to the export of solar modules, but also to the export ofenergy storage systems.