Global Frameless Solar Panel Market Overview
As per MRFR analysis, the Frameless Solar Panel Market Size was estimated at 1.72 (USD Billion) in 2022. The Frameless Solar Panel Market Industry is expected to grow from 2.0 (USD Billion) in 2023 to 7.7 (USD Billion) by 2032. The Frameless Solar Panel Market CAGR (growth rate) is expected to be around 16.15% during the forecast period (2024 - 2032).
Key Frameless Solar Panel Market Trends Highlighted
The demand for frameless solar panels continues to soar ly, driven by the crescent need for renewable energy solutions and government incentives promoting sustainability. The trend toward lightweight and aesthetically pleasing designs has spurred the popularity of frameless panels, which offer durability and improved energy efficiency.Emerging trends in the frameless solar panel market include advanced cell technologies that enhance power output and reduce costs. Additionally, the integration of frameless panels into building-integrated photovoltaic (BIPV) systems is gaining traction, enabling seamless integration of solar energy into building designs.Opportunities for growth lie in the expanding commercial and industrial sectors, where frameless panels can provide cost-effective and environmentally friendly solutions for large-scale energy needs. Furthermore, advancements in manufacturing processes are reducing production costs, making frameless panels more accessible to a wider range of consumers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frameless Solar Panel Market Drivers
Rising Demand for Renewable Energy Sources
The demand for renewable resources is in the increase across the globe, thus acting as a major driver to the Frameless Solar Panel Market Industry. In order to achieve environmentally friendly sources of energy, many countries across the globe are aiming to reduce their carbon footprints by adopting alternative sources of energy. Solar energy has thus become popular across the globe. The solar panels have no frames making them sleek and more efficient to generate electricity.Given that frameless solar panels do not have bulky frames or mounting structures, they can be used in a variety of applications, all of which generate electricity, be it in industries, offices, homes and many other places. Therefore, the adoption of solar energy, plus the fact that frameless solar panels are applicable in many areas, implies that the Frameless Solar Panel Market Industry will continue to grow.
Technological Advancements and Cost Reduction
Technological advancements in the manufacturing of frameless solar panels are another key driver of market growth. Ongoing research and development efforts have led to significant improvements in the efficiency and durability of these panels. As a result, frameless solar panels are now more efficient at converting sunlight into electricity while also being more resistant to wear and tear. Additionally, advances in manufacturing processes have helped to reduce the cost of producing frameless solar panels, making them more affordable for a wider range of consumers.The combination of improved technology and reduced costs is expected to further drive the adoption of frameless solar panels in the coming years.
Government Incentives and Regulations
Moreover, an important role in the development of the Frameless Solar Panel Market Industry has been played by the government’s incentives and related regulations. In many countries, feed-in tariffs, tax credits, and many other incentives have been implemented to encourage solar energy. They allow offsetting most of the costs of installing Solar panels. Also, the government has started to more and more often issue regulations that require arranging new buildings so that solar panels are in place or the building otherwise meets energy efficiency standards.There are expected to be more of these regulations in the future which will clearly boost the demand for frameless solar panels even more.
Frameless Solar Panel Market Segment Insights:
Frameless Solar Panel Market Power Output Insights
The Frameless Solar Panel Market segmentation by power output offers valuable insights into the diverse range of solar panels available. The '50W' segment caters to small-scale applications such as portable chargers, camping gear, and remote monitoring systems. In 2023, this segment accounted for a notable market share of 12.5%, with a projected valuation of USD 260 million. Moving up the power range, the '50-100W' segment finds applications in residential rooftops, RVs, and off-grid cabins. In 2023, it held a market share of 20.2%, equivalent to USD 420 million.The '100-200W' segment is gaining traction for larger residential systems and commercial applications. It accounted for 27.8% of the market, translating to USD 580 million in 2023. The '200W-1kW' segment is a significant contributor to the industry, serving commercial and industrial sectors. With a market share of 32.5% in 2023, this segment generated a revenue of USD 675 million. Finally, the '>1kW' segment caters to large-scale solar farms and utility-scale projects. It held a market share of 7% in 2023, representing USD 145 million. The growth of the Frameless Solar Panel Market is driven by factors such as increasing demand for renewable energy, rising energy costs, and supportive government policies.This growth will be fueled by technological advancements, cost reductions, and expanding applications across various sectors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frameless Solar Panel Market Efficiency Range Insights
The Frameless Solar Panel Market segmentation by Efficiency Range includes '15%', '15-20%', '20-25%', '25-30%', and '>30%'. Among these, the '15-20%' segment held the largest market share in 2023, accounting for around 35% of the Frameless Solar Panel Market revenue. This is due to the increasing demand for solar panels with higher efficiency and affordability. The '20-25%' segment is expected to witness significant growth during the forecast period, owing to the growing adoption of high-efficiency solar panels in commercial and industrial applications.Moreover, the '25-30%' and '>30%' segments are projected to gain traction in the coming years, driven by the need for even higher efficiency solar panels for specialized applications. Overall, the Frameless Solar Panel Market is expected to grow at a significant CAGR during the forecast period, with increasing demand for renewable energy solutions and government initiatives promoting solar energy adoption.
Frameless Solar Panel Market Application Insights
The Frameless Solar Panel Market is segmented by application into residential, commercial, industrial, utility-scale, and portable. The residential segment is expected to hold the largest market share in 2023 due to the increasing adoption of solar energy in homes. The commercial segment is expected to grow at a significant rate during the forecast period as businesses are increasingly looking to reduce their energy costs. The industrial segment is also expected to grow at a notable rate as companies are looking to reduce their carbon footprint.The utility-scale segment is expected to grow at a steady rate as governments are increasingly investing in renewable energy projects. The portable segment is expected to grow at a rapid rate as consumers are increasingly looking for portable and convenient ways to generate electricity. Overall, the Frameless Solar Panel Market is expected to grow at a CAGR of 16.15% from 2023 to 2032.
Frameless Solar Panel Market Design Insights
The Frameless Solar Panel Market is segmented by design into monocrystalline, polycrystalline, thin-film, and bifacial. Monocrystalline panels are the most efficient and expensive, with an efficiency of up to 25%. Polycrystalline panels are less efficient, with an efficiency of up to 20%, but they are also less expensive. Thin-film panels are the least efficient, with an efficiency of up to 15%, but they are also the most flexible and lightweight. Bifacial panels can generate electricity from both sides, which can increase their efficiency by up to 30%.In 2023, the market is expected to be valued at USD 2.0 billion and is projected to reach USD 7.7 billion by 2032.
Frameless Solar Panel Market Substrates Insights
The Frameless Solar Panel Market is segmented by Substrates into Glass, Polymer, and Metal. Glass substrates are expected to dominate market revenue in 2024 due to their high transparency, durability, and ability to withstand harsh environmental conditions. Polymer substrates are gaining popularity due to their lightweight, flexibility, and cost-effectiveness. Metal substrates, such as aluminum and stainless steel, offer excellent heat dissipation and structural stability, making them suitable for large-scale solar installations. The market for Frameless Solar Panels is expected to grow significantly over the forecast period, driven by increasing demand for renewable energy sources and government initiatives to promote solar energy adoption.
Frameless Solar Panel Market Regional Insights
The Frameless Solar Panel Market is segmented into North America, Europe, APAC, South America, and MEA. The APAC region is expected to dominate the market, holding a significant market share in 2023 and is projected to continue its dominance throughout the forecast period. The growth of the APAC market is attributed to increasing government initiatives and supportive policies promoting renewable energy adoption, particularly in countries like China and India. In 2023, the APAC Frameless Solar Panel Market was valued at USD 0.8 billion and is expected to reach USD 3.1 billion by 2032, exhibiting a CAGR of 18.2%.Other regions, such as Europe and North America, are also anticipated to contribute to the market growth due to rising energy demands and environmental concerns.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frameless Solar Panel Market Key Players And Competitive Insights:
The leading players in the Frameless Solar Panel Market are focusing on maintaining their dominance with key initiatives such as research and development, strategic partnerships and innovative product offerings. Furthermore, major Frameless Solar Panel Market players are consolidating their position in the industry by acquisitions and developing new products. Other aspects boosting the growth of the Frameless Solar Panel Market include the need for renewable sources of energy and a decrease in the cost of materials. Moreover, government incentives and subsidies are also fueling the surge in the Frameless Solar Panel Market. Also, the growth of the Frameless Solar Panel Market Competitive Landscape can be attributed to a surge in the number of new market participants and expansion of the product offerings of existing players.First Solar is a major participant in the Frameless Solar Panel Market and a provider of comprehensive PV solar systems. The solar modules of the company are the thinnest in the world and are designed to be highly efficient, durable and easy to maintain. In addition to the technical capabilities, First Solar has a stellar track record of innovation and long-term commitment to sustainability. The company is experienced in development and has supply chains and distribution channels in numerous countries. Therefore, by focusing on research and development and producing state-of-the-art solar solutions, First Solar is able to maintain its leading position in the Frameless Solar Panel Market. The main competitive company in the Frameless Solar Panel Market is JinkoSolar. It is the largest manufacturer of photovoltaic modules, as well as one of the leaders in the production of frameless solar panels. The company is a leading supplier in many countries with its high-quality and affordable frameless solar panels. JinkoSolar has a strong development team that has developed a number of solar washes that are designed to optimize the efficiency and performance of the company’s solar batteries.
Key Companies in the Frameless Solar Panel Market Include:
- Yingli Solar
- Trina Solar
- Jinko Solar
- First Solar
- Seraphim Solar
- Suntech
- JA Solar
- GCLSI
- Hanwha Q CELLS
- Astronergy
- SunPower
- LONGi Green Energy Technology
- REC Group
- Solaria
- Canadian Solar
Frameless Solar Panel Market Industry Developments
The Frameless Solar Panel Market is projected to reach USD 7.7 billion by 2032, exhibiting a CAGR of 16.15% during the forecast period. Growing environmental concerns and government initiatives promoting renewable energy sources drive market growth. Technological advancements, such as the development of high-efficiency solar cells and improved module designs, contribute to the increasing adoption of frameless solar panels. Furthermore, rising investments in solar energy projects, particularly in emerging economies, are expected to fuel market expansion. Key players are focusing on strategic partnerships, acquisitions, and product innovations to gain a competitive edge.
Frameless Solar Panel Market Segmentation Insights
Frameless Solar Panel Market Power Output Outlook
- 50W
- 50-100W
- 100-200W
- 200W-1kW
- >1kW
Frameless Solar Panel Market Efficiency Range Outlook
- 15%
- 15-20%
- 20-25%
- 25-30%
- >30%
Frameless Solar Panel Market Application Outlook
- Residential
- Commercial
- Industrial
- Utility-scale
- Portable
Frameless Solar Panel Market Design Outlook
- Monocrystalline
- Polycrystalline
- Thin-film
- Bifacial
Frameless Solar Panel Market Substrates Outlook
Frameless Solar Panel Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
Frameless Solar Panel Market Report Scope
Report Attribute/Metric |
Details |
Market Size 2022 |
1.72 (USD Billion) |
Market Size 2023 |
2.0 (USD Billion) |
Market Size 2032 |
7.7 (USD Billion) |
Compound Annual Growth Rate (CAGR) |
16.15% (2024 - 2032) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Base Year |
2023 |
Market Forecast Period |
2024 - 2032 |
Historical Data |
2019 - 2023 |
Market Forecast Units |
USD Billion |
Key Companies Profiled |
Yingli Solar, Trina Solar, Jinko Solar, First Solar, Seraphim Solar, Suntech, JA Solar, GCLSI, Hanwha Q CELLS, Astronergy, SunPower, LONGi Green Energy Technology, REC Group, Solaria, Canadian Solar |
Segments Covered |
Power Output, Efficiency Range, Application, Design, Substrates, Regional |
Key Market Opportunities |
Growing demand from the residential sector, increasing adoption in commercial buildings, rising focus on aesthetics, technological advancements, government incentives |
Key Market Dynamics |
Increasing demand for lightweight panels Growing adoption in residential and commercial sectors Technological advancements reducing costs Government incentives and policies supporting growth Focus on aesthetics and durability |
Countries Covered |
North America, Europe, APAC, South America, MEA |
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Frequently Asked Questions (FAQ) :
The Frameless Solar Panel Market size was valued at USD 2.0 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 16.15% from 2024 to 2032, reaching a market size of USD 7.7 billion by 2032.
The key regions in the Frameless Solar Panel Market are Asia-Pacific, North America, Europe, South America, and the Middle East Africa. Among these regions, Asia-Pacific is expected to hold the largest market share due to the increasing adoption of solar energy in countries like China, India, and Japan.
Major applications of Frameless Solar Panels include residential, commercial, and industrial sectors. Frameless Solar Panels are gaining popularity in residential applications due to their aesthetic appeal and ease of installation.
Key competitors in the Frameless Solar Panel Market include Trina Solar, JinkoSolar, Canadian Solar, LONGi Solar, and JA Solar. These companies are investing heavily in research and development to improve the efficiency and affordability of their products.
Key factors driving the growth of the Frameless Solar Panel Market include increasing demand for renewable energy, government incentives, and technological advancements. The rising concerns over climate change and the need to reduce carbon emissions are also contributing to the market growth.
Challenges faced by the Frameless Solar Panel Market include high manufacturing costs, fluctuations in raw material prices, and competition from conventional energy sources. Additionally, the intermittent nature of solar energy can pose challenges for grid integration.
Emerging trends in the Frameless Solar Panel Market include the integration of smart technologies, the development of bifacial panels, and the increasing adoption of solar-plus-storage systems. These trends are expected to drive innovation and further growth in the market.
The Frameless Solar Panel Market is expected to grow at a CAGR of 16.15% from 2024 to 2032, reaching a market size of USD 7.7 billion by 2032.
Key opportunities for growth in the Frameless Solar Panel Market include the expansion of distributed generation, the development of new markets in emerging economies, and the increasing demand for sustainable energy solutions.
Key challenges faced by the Frameless Solar Panel Market include the high cost of manufacturing, the intermittent nature of solar energy, and the competition from conventional energy sources.