Solar Farm Market Report by Type (Surface Suction, Utility-scale, Distributed Generation, Microgrids, and Others), End Use Industry (Residential, Commercial, Industrial), and Region 2025-2033

Solar Farm Market Report by Type (Surface Suction, Utility-scale, Distributed Generation, Microgrids, and Others), End Use Industry (Residential, Commercial, Industrial), and Region 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A6417

Market Overview:

The global solar farm market size reached USD 103.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 298.7 Billion by 2033, exhibiting a growth rate (CAGR) of 12.51% during 2025-2033.

Report Attribute 
Key Statistics
Base Year
2024
Forecast Years
2025-2033
Historical Years
2019-2024
Market Size in 2024
USD 103.4 Billion
Market Forecast in 2033
USD 298.7 Billion
Market Growth Rate (2025-2033) 12.51%


A solar farm is a location that has multiple solar panels set up to collect solar energy and produce electricity. A large collection of photovoltaic (PV) solar panels collects energy from the sun, converts it into electricity, and sends that electricity to local and national grids for distribution and consumption. Located in an open area of the neighborhood, the solar panels on the solar farm receive maximum sunlight exposure. Unlike rooftop solar and commercial solar power systems, they use ground-mounted solar panels to power buildings, commercial buildings, and electric grids. The solar farms operate as power plants or PV power stations to produce electricity for consumers, which are also known as solar parks and solar power stations.

Solar Farm Market Trends:

The market is majorly driven by the escalating demand for photovoltaic (PV) technology across numerous end-use industries. This can be attributed to the augmenting need for renewable energy resources for power generation to minimize the dependency on conventional fuels. In line with this, a considerable rise in the depletion of fossil fuels is resulting in higher installations of solar farms on the global level. Moreover, favorable government initiatives promoting the production and distribution of energy from renewable sources to minimize the emission of pollutants are propelling the market. Apart from this, increasing investments by the major market players in the solar energy industry are also impacting the market positively. Continual technological advancements, along with the reduction in the production cost of photovoltaic panels, are further providing an impetus to the market. Some of the other factors creating a positive market outlook include the rising consumer awareness regarding solar water farming, growing environmental concerns, inflating disposable income levels and extensive research and development (R&D) activities conducted by market players with an enhanced focus on sustainable development.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global solar farm market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on type and end use industry.

Breakup by Type:

  • Surface Suction
  • Utility-scale
  • Distributed Generation
  • Microgrids
  • Others
     

Breakup by End Use Industry:

  • Residential
  • Commercial
  • Industrial
     

Breakup by Region:

Solar Farm Market Report

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being First Solar Inc, JA SOLAR Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd, Hanwha Q CELLS GmbH, RenewSys India Pvt. Ltd, Sharp Corporation, Shenzhen Topray Solar Co. Ltd, Tata Power Solar System Inc, The Solaria Corporation, Trina Solar Co. Ltd. and Vikram Solar Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2024
Historical Period 2019-2024
Forecast Period 2025-2033
Units Billion USD
Segment Coverage Type, End Use Industry, Region
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered First Solar Inc, JA SOLAR Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd, Hanwha Q CELLS GmbH, RenewSys India Pvt. Ltd, Sharp Corporation, Shenzhen Topray Solar Co. Ltd, Tata Power Solar System Inc, The Solaria Corporation, Trina Solar Co. Ltd. and Vikram Solar Ltd.
Customization Scope 10% Free Customization
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global solar farm market was valued at USD 103.4 Billion in 2024.

We expect the global solar farm market to exhibit a CAGR of 12.51% during 2025-2033.

The rising need for renewable energy resources to minimize the dependency on conventional fuels is primarily driving the global solar farm market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous installation activities for solar panels, thereby negatively impacting the global market for solar farms.

Based on the type, the global solar farm market has been segregated into surface suction, utility-scale, distributed generation, microgrids, and others. Among these, utility-scale currently exhibits a clear dominance in the market.

Based on the end use industry, the global solar farm market can be bifurcated into residential, commercial, and industrial. Currently, the commercial industry holds the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global solar farm market include First Solar Inc, JA SOLAR Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd, Hanwha Q CELLS GmbH, RenewSys India Pvt. Ltd, Sharp Corporation, Shenzhen Topray Solar Co. Ltd, Tata Power Solar System Inc, The Solaria Corporation, Trina Solar Co. Ltd., and Vikram Solar Ltd.

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Solar Farm Market Report by Type (Surface Suction, Utility-scale, Distributed Generation, Microgrids, and Others), End Use Industry (Residential, Commercial, Industrial), and Region 2025-2033
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