Global photovoltaic installed capacity to reach 596GW in 2025, emerging markets perform well
Against the backdrop of global energy transformation, the photovoltaic industry has taken off, and the scale of global photovoltaic installed capacity continues to grow. TrendForce predicts that global photovoltaic installed capacity will reach 596GW in 2025, up 6.0% year-on-year, and the growth rate will slow down significantly. The share of the three major mainstream incremental markets in China, Europe and the United States will decline, and emerging markets such as Southeast Asia, Latin America, and the Middle East will perform well, injecting new impetus into the growth of global photovoltaic installed capacity.
Global new installed capacity to reach 596GW in 2025
According to TrendForce data, global photovoltaic installed capacity has grown rapidly from 113GW in 2019 to 462GW in 2023, with an average annual compound growth rate of 42.3%. After experiencing high growth in the first five years, it is expected that the growth rate of global photovoltaic installed capacity will drop sharply from 2025 and enter the adjustment stage. In 2025, global photovoltaic installed capacity will reach 596GW, up 6.0% year-on-year.
In terms of market share, the Asia-Pacific market fell slightly to 61.1%, the Americas market grew to 15.6%, and the market share of Europe and the Middle East and Africa did not change much.
From the data of new photovoltaic installations in the four major regional markets in 2025, the Americas will lead slightly in growth, and the Asia-Pacific region will still lead in growth. In 2025, driven by the two major markets of the United States and Brazil, the Americas will maintain its leading growth rate; the emerging countries in the Middle East and Africa are still to be developed, and the growth rate has slowed down significantly; the Asia-Pacific region leads the global photovoltaic market in growth, but the growth rate of installed capacity has slowed down under the high base; Europe has steadily increased its growth under the overall goal of coal withdrawal and renewable energy.
