Global solar PV market outlook update: Q2 2025 Report

Market Report 06 June 2025

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Report summary

Bringing together our regional expertise in the Americas, Europe, Asia Pacific, the Middle East and Africa, Wood Mackenzie's Global solar PV market outlook Q2 2025 breaks down how the key policy, supply chain, finance and other market developments from the past quarter will affect solar PV buildout across all segments in all territories in the next 10 years. Global PV cumulative installations will reach 7.7 TWdc by 2034. China, the US and India will remain the top three largest PV markets while Saudi Arabia will experience the fastest pace of growth until 2034, driven by ambitious tenders and the establishment of a local supply chain. Peru, Iraq and Ireland will emerge as leading new markets.