SkyQuest Technology Group recently introduced Solar Farm Market study with in-depth overview, describing about the Product/Industry Scope and elaborates market outlook and status (2025-2032). The market Study is segmented by key regions which is accelerating the marketization. The Solar Farm Market has witnessed Excellent growth over the past decade and is expected to maintain its upward trajectory.\n\nGlobal Solar Farm Market size was valued at USD 42.0 billion in 2023 and is poised to grow from USD 47.67 billion in 2024 to USD 131.28 billion by 2032, growing at a CAGR of 13.5% during the forecast period (2025-2032).\n\nGovernment incentives are a key driver of the development of the global solar farm market. Feed-in tariffs, investment tax credits, and renewable portfolio standards lower the cost barriers and encourage utility-scale solar development. These programs provide a stable and favorable investment environment, promoting private and public sector investment. While governments agree to slash greenhouse gas emission as part of international pacts such as the Paris Accord, nations are favoring solar power.\n\nThe 2025 global Solar Farm Market report provides a comprehensive analysis of key industry players, market trends, pricing structures, and competitive dynamics, offering insights into the market landscape from 2025 to 2032. As a rapidly evolving sector, the Solar Farm Market drives economic growth, innovation, and technological advancements through the development, production, and distribution of products and services. This report highlights the market’s growth potential and its impact on global industries, providing valuable insights for stakeholders, investors, and policymakers.\n\nDetailed Segmentation and Classification of the report (Market Size and Forecast – 2032, Y-o-Y growth rate, and CAGR): The Solar Farm Market can be segmented based on several factors, including product type, application, end-user, and distribution channel.\n\nGlobal Solar Farm Market is segmented by Type, Technology, Capacity, End User and region.\n\nBased on Type, the market is segmented into Ground-Mounted Solar Farms, Floating Solar Farms and Rooftop Solar Farms (Large scale). Based on Technology, the market is segmented into Photovoltaic (PV) Solar Farms and Concentrated Solar Power (CSP) Farms. Based on Capacity, the market is segmented into Below 10 MW, 10 MW – 100 MW and Above 100 MW. Based on End User, the market is segmented into Utilities, Commercial & Industrial and Residential (Community Solar). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.\n\nSolar Farm Market – Regional Analysis:\n\nAs per the global solar farm market analysis, North America is a leader in the industry, powered by robust policy incentives, declining costs of solar technology, and ambitious clean energy ambitions. Regional growth is led by the U.S. with high-capacity utility projects and state-level incentives.\n\nEurope is a crucial part of the global solar farm market, led by ambitious climate targets, supportive policies, and growing energy independence requirements. Germany, Spain, and the Netherlands are at the forefront with high-volume deployments and pioneering policies. The EU’s Green Deal and carbon neutrality ambitions are driving investments faster.\n\nFrance is quickly ramping up solar farm installations to achieve its renewable energy and carbon neutrality goals. Under the Multiannual Energy Plan (PPE), the government plans to quadruple solar capacity by 2030. Agrivoltaics—integrating agriculture and solar—is prioritized by the country to maximize land use. Large tenders and support programs for ground-mounted solar farms are pulling in domestic and foreign investment, solidifying France’s increasing role in Europe’s clean energy transition.\n\nSouth Korea is quickly growing its solar farm capacity under the Renewable Energy 3020 Plan, targeting 20% of renewable energy by 2030. The government encourages ground-mounted and floating solar farms on idle land and water reservoirs. Strategic public-private collaboration and aggressive R&D investment in solar efficiency and grid integration facilitate the market. Clean energy security emphasis by South Korea makes it a rising contender in the global solar market.\n\nTop Market Players in Solar Farm Market are:\n\nFirst Solar, Inc. (U.S.)\nNextEra Energy, Inc. (U.S.)\nSunPower Corporation (U.S.)\nCanadian Solar Inc. (Canada)\nJinkoSolar Holding Co., Ltd. (China)\nTrina Solar Limited (China)\nEnphase Energy, Inc. (U.S.)\nHanwha Q CELLS Co., Ltd. (South Korea)\nSunrun Inc. (U.S.)\nScatec ASA (Norway)\nAdani Green Energy Limited (India)\nE.ON SE (Germany)\nEDF Renewables (France)\nSolarEdge Technologies Inc. (Israel)\nLONGi Green Energy Technology Co., Ltd. (China)\nTata Power Solar Systems Ltd. (India)\nAES Corporation (U.S.)\nBrookfield Renewable Partners L.P. (Canada)\nVestas Wind Systems A/S (Denmark)\nOrsted A/S (Denmark)\n\nRecent Developments in Solar Farm Market:\n\nIn January 2025, Singaporean Sembcorp Industries opened a 588 MW solar power plant in Oman, its first Middle East greenfield renewables development. The facility covers an area of 6.8 million square meters and involves the use of more than one million bifacial photovoltaic panels, offering clean energy to around 60,000 homes.\n\nIn July 2024, EDP Renewables (EDPR) expanded into Japan by initiating a 44 MWp solar farm in Fukushima Prefecture. Spanning 60 hectares and featuring more than 63,000 solar panels, the project is projected to produce more than 47 GWh per year, enough to supply energy to more than 11,800 Japanese homes by its expected go-live date in Q3 2025.\n\nIn September 2024, Q ENERGY laid the foundation of the 52 MWp Cabrovales 1 solar farm project in Extremadura, Spain. Committed to beginning operations by the year 2025, the plant will encompass more than 96,000 solar modules including a tracker system, providing power to around 27,000 homes and curtailing CO₂ emissions by a total of nearly 23,000 tonnes annually.\n\nThe Solar Farm Market is set to experience sustained growth, fueled by technological advancements, broader global market access, and rising industry demand. With the industry addressing emerging challenges and capitalizing on new opportunities, it is expected to drive innovation and play a pivotal role in advancing global health and economic progress.

Solar Farm Market Innovations and Revenue Forecasting 2025 – 2032

SkyQuest Technology Group has published a comprehensive market study on the global solar farm industry, projecting steady growth from USD 47.67 billion in 2024 to USD 131.28 billion by 2032, with a CAGR of 13.5% over the 2025–2032 period. The report highlights key drivers such as government incentives including feed-in tariffs and investment tax credits, which lower cost barriers and promote utility-scale solar development. The market is segmented by type (ground-mounted, floating, rooftop), technology (PV and CSP), capacity (below 10 MW, 10–100 MW, above 100 MW), end-user (utilities, commercial/industrial, residential), and region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). North America leads due to strong policy support and declining solar costs, while Europe, particularly Germany, Spain, and France, is advancing through ambitious climate goals and green energy policies. Key players include First Solar, NextEra Energy, Canadian Solar, JinkoSolar, SunPower, and others. Recent developments include Sembcorp Industries' 588 MW solar plant in Oman (launched Jan 2025), EDP Renewables' 44 MWp project in Fukushima, Japan (Q3 2025 go-live), and Q ENERGY's 52 MWp Cabrovales 1 solar farm in Spain (planned 2025). The market is expected to continue growing through technological innovation, expanded global access, and rising demand, contributing to economic and environmental progress.