Market overview
The global utility scale solar market is worth USD 166 bn in 2026 and is forecast to reach USD 270 bn by 2036, growing at a 5.0% CAGR. China is the largest country market and Modules is the largest by component segment.
| Scope | Utility-scale solar plants: installed value of ground-mounted solar farms, including modules, inverters, trackers, balance of system and engineering and construction. |
|---|---|
| Industry | Services and Utilities |
| Value 2025 | USD 160 bn |
| Value 2026 | USD 166 bn |
| Value 2036 | USD 270 bn |
| CAGR 2026-2036 | 5.0% |
| Volume 2026 | 371,136 MW |
| Volume 2036 | 668,459 MW |
| Average price 2026 | USD 446,200 per MW |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Utility Scale Solar market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 166 bn |
| 2027 | USD 174 bn |
| 2028 | USD 183 bn |
| 2029 | USD 192 bn |
| 2030 | USD 201 bn |
| 2031 | USD 211 bn |
| 2032 | USD 222 bn |
| 2033 | USD 233 bn |
| 2034 | USD 245 bn |
| 2035 | USD 257 bn |
| 2036 | USD 270 bn |
Utility Scale Solar market segmentation
By component
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Modules | 32.0% | 28.5% | USD 53.0 bn | 3.8% |
| Trackers and mounting | 12.0% | 12.9% | USD 19.9 bn | 5.8% |
| Inverters and power electronics | 10.0% | 10.3% | USD 16.6 bn | 5.3% |
| Balance of system | 20.0% | 21.5% | USD 33.1 bn | 5.8% |
| Engineering and construction | 26.0% | 26.7% | USD 43.1 bn | 5.3% |
By module technology
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| TOPCon | 56.0% | 54.7% | USD 92.7 bn | 4.7% |
| PERC and other | 14.0% | 9.1% | USD 23.2 bn | 0.6% |
| Heterojunction and back-contact | 22.0% | 28.5% | USD 36.4 bn | 7.7% |
| Thin film | 8.0% | 7.8% | USD 13.2 bn | 4.7% |
By mounting
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Fixed tilt | 44.0% | 37.1% | USD 72.9 bn | 3.2% |
| Single-axis tracker | 54.0% | 60.5% | USD 89.4 bn | 6.2% |
| Dual-axis and floating | 2.0% | 2.5% | USD 3.3 bn | 7.2% |
By plant size
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Below 50 MW | 14.0% | 10.0% | USD 23.2 bn | 1.5% |
| 50 to 200 MW | 34.0% | 31.0% | USD 56.3 bn | 4.0% |
| 200 to 500 MW | 30.0% | 32.0% | USD 49.7 bn | 5.7% |
| Above 500 MW | 22.0% | 27.0% | USD 36.4 bn | 7.2% |
By project owner
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Utilities | 36.0% | 32.0% | USD 59.6 bn | 3.8% |
| Independent power producers | 44.0% | 46.0% | USD 72.9 bn | 5.5% |
| Corporate buyers | 20.0% | 22.0% | USD 33.1 bn | 6.0% |
Top 25 countries for utility scale solar by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 88.0% of 2026 revenue and the 25 countries below together hold 97.4%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 86.1 bn | 52.0% | USD 124 bn | 3.7% |
| 2 | United States | USD 19.9 bn | 12.0% | USD 31.6 bn | 4.7% |
| 3 | India | USD 11.6 bn | 7.0% | USD 29.1 bn | 9.7% |
| 4 | Saudi Arabia | USD 5.8 bn | 3.5% | USD 15.9 bn | 10.6% |
| 5 | Brazil | USD 5.0 bn | 3.0% | USD 9.4 bn | 6.6% |
| 6 | Germany | USD 4.1 bn | 2.5% | USD 5.9 bn | 3.7% |
| 7 | Spain | USD 4.1 bn | 2.5% | USD 5.9 bn | 3.7% |
| 8 | Australia | USD 3.3 bn | 2.0% | USD 5.4 bn | 5.0% |
| 9 | United Arab Emirates | USD 3.3 bn | 2.0% | USD 8.4 bn | 9.7% |
| 10 | South Africa | USD 2.5 bn | 1.5% | USD 4.9 bn | 6.9% |
| 11 | Japan | USD 2.3 bn | 1.4% | USD 3.2 bn | 3.3% |
| 12 | Italy | USD 2.0 bn | 1.2% | USD 2.8 bn | 3.2% |
| 13 | Mexico | USD 1.7 bn | 1.1% | USD 2.4 bn | 3.3% |
| 14 | Chile | USD 1.5 bn | 0.9% | USD 2.1 bn | 3.4% |
| 15 | France | USD 1.3 bn | 0.8% | USD 1.8 bn | 3.1% |
| 16 | Egypt | USD 1.1 bn | 0.7% | USD 2.0 bn | 5.6% |
| 17 | Turkey | USD 994 mn | 0.6% | USD 1.4 bn | 3.3% |
| 18 | Netherlands | USD 861 mn | 0.5% | USD 1.2 bn | 3.3% |
| 19 | Poland | USD 762 mn | 0.5% | USD 1.1 bn | 3.3% |
| 20 | Vietnam | USD 662 mn | 0.4% | USD 1.1 bn | 5.5% |
| 21 | South Korea | USD 563 mn | 0.3% | USD 782 mn | 3.3% |
| 22 | Pakistan | USD 497 mn | 0.3% | USD 863 mn | 5.7% |
| 23 | Morocco | USD 431 mn | 0.3% | USD 755 mn | 5.8% |
| 24 | Uzbekistan | USD 381 mn | 0.2% | USD 647 mn | 5.5% |
| 25 | Oman | USD 331 mn | 0.2% | USD 566 mn | 5.5% |
| Rest of world | USD 4.4 bn | 2.6% | USD 6.3 bn | 3.7% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- LONGi
- JinkoSolar
- Trina Solar
- JA Solar
- First Solar
- Tongwei
- Hanwha Qcells
- GCL Technology
Group 2: Regional and specialist players
- Sungrow
- Canadian Solar
- PowerChina
- Larsen & Toubro
- Sterling and Wilson
- Nextracker
- Arctech Solar
- Power Electronics
- SMA Solar
- Enel Green Power
Group 3: Emerging and niche players
- Primoris Services
- Adani Green Energy
- Array Technologies
- FTC Solar
- GameChange Solar
- Terrasmart
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the utility scale solar market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 5.0% is calculated from the resulting values.
The market is divided by component, by module technology, by mounting, by plant size, by project owner. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the utility scale solar market?
The global utility scale solar market is estimated at USD 160 bn in 2025 and USD 166 bn in 2026.
How fast will the utility scale solar market grow?
It is forecast to reach USD 270 bn by 2036, a compound annual growth rate of 5.0% from 2026, an increase of USD 104 bn.
Which country is the largest market for utility scale solar?
China is the largest market by revenue at USD 86.1 bn in 2026, 52.0% of the global total. The three largest countries together hold 71.0%.
Which country is growing fastest?
Among the ten largest markets, Saudi Arabia is growing fastest at 10.6% a year from 2026 to 2036.
Which utility scale solar segment is largest?
In the by component split, Modules is the largest segment with 32.0% of 2026 revenue.
Who are the leading utility scale solar companies?
Global leaders include LONGi, JinkoSolar, Trina Solar, JA Solar.
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