Flexible Solar Panels Market Size - Global Industry, Share, Analysis, Trends and Forecast 2024 - 2032
The Global Flexible Solar Panels Market Size accounted for USD 535.8 Million in 2023 and is estimated to achieve a market size of USD 1,618.2 Million by 2032 growing at a CAGR of 13.4% from 2024 to 2032.
Flexible Solar Panels Market Highlights
- The global flexible solar panels market is expected to reach USD 1,618.2 million by 2032, growing at a CAGR of 13.4% from 2024 to 2032
- The Asia-Pacific flexible solar panels market accounted for approximately USD 289.3 million in 2023
- North America is projected to experience a growth rate of over 14.3% CAGR from 2024 to 2032
- The copper indium gallium selenide (CIGS) sub-segment is anticipated to capture 45% of the market share in 2023
- The industrial application sub-segment is forecasted to grow by 40% in 2023
- Rising demand for portable energy solutions is the flexible solar panels market trend that fuels the industry demand
Flexible solar panels are lightweight, foldable photovoltaic devices that convert sunlight into power. Unlike traditional rigid panels, they are manufactured from thin-film materials such as amorphous silicon, cadmium telluride, or copper indium gallium selenide (CIGS), allowing for flexibility and simplicity of installation on curved or uneven surfaces. These panels are commonly utilized in portable devices, wearables, and outdoor equipment to provide renewable energy on-the-go.
Flexible solar panels also find use in electric vehicles, boats, and rooftops, where weight and versatility are important. As per ISRAEL21c Organization, the growing use of flexible solar panels in France, including installations on logistics center roofs and solar pavements for charging electric bikes and scooters, alongside large euro orders (33 million) for flexible film for powering electric vans, underscores the increasing demand for these innovative solar solutions.
Global Flexible Solar Panels Market Dynamics
Market Drivers
- Increasing demand for portable and lightweight solar solutions for residential and outdoor applications
- Growing adoption of renewable energy and favorable government incentives for solar installations
- Technological advancements in thin-film and flexible solar panel efficiency
Market Restraints
- High initial costs compared to rigid solar panels
- Limited durability and shorter lifespan under extreme environmental conditions
- Efficiency challenges compared to traditional silicon-based solar panels
Market Opportunities
- Expanding applications in electric vehicles, boats, and aerospace industries
- Rising interest in solar-powered consumer electronics and wearables
- Increasing penetration in emerging markets with growing renewable energy adoption
Flexible Solar Panels Market Report Coverage
| Market | Flexible Solar Panels Market |
| Flexible Solar Panels Market Size 2022 |
USD 535.8 Million |
| Flexible Solar Panels Market Forecast 2032 | USD 1,618.2 Million |
| Flexible Solar Panels Market CAGR During 2023 - 2032 | 13.4% |
| Flexible Solar Panels Market Analysis Period | 2020 - 2032 |
| Flexible Solar Panels Market Base Year |
2022 |
| Flexible Solar Panels Market Forecast Data | 2024 - 2032 |
| Segments Covered | By Type, By Application, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Miasole, Alta Devices, Global Solar Energy, Inc., Enecom, Sunpower Corporation, Solopower System, Flisom, Solbian, Sun Harmonics, and Powerfilm Solar, Inc |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Flexible Solar Panels Market Insights
The growing reliance on renewable energy sources, combined with government incentives and subsidies for solar installations, is driving the development of flexible solar panels. According to Ministry Of New And Renewable Energy, to increase solar power installation in rural regions, the government has extended the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) project till March 2026. These panels provide a versatile, eco-friendly solution that is consistent with sustainability goals, making them appealing for both residential and commercial applications.
The high initial prices of flexible solar panels, which are often more expensive than traditional rigid panels, may deter potential adopters. Despite its flexibility and lightweight construction, flexible solar panels are not widely adopted due to their high cost. However, the increased demand for sustainable energy solutions in electric vehicles, watercraft, and airplanes creates a substantial market opportunity for flexible solar fabric market. According to IEEE Xplore, by combining lightweight, flexible photovoltaic (PV) panels, the concept of "charging on drive" enables the bike to charge its battery while in motion, rather than relying simply on a stationary charger. This breakthrough improves the energy efficiency and convenience of electric vehicles, demonstrating the growing importance of flexible solar panels in sustainable mobility. Their lightweight and adaptable nature makes them perfect for these industries, where space and weight efficiency are crucial for performance and energy production.
The growing need for portable and lightweight solar solutions for home and outdoor applications is propelling the flexible solar fabric market. The World Economic Forum states that easy solar provide solar lighting and chargers to Sierra Leone's energy-deprived homes. These panels are easy to install and move, making them perfect for off-grid energy generating and temporary settings like camping or outdoor gatherings.
Flexible Solar Panels Market Segmentation
The worldwide market for flexible solar panels is split based on type, application, and geography.
Flexible Solar Panel Market By Type
- Amorphous Silicon
- Cadmium Telluride
- Copper Indium Gallium Selenide
- Others
According to the flexible solar panels industry analysis, copper indium gallium selenide (CIGS) dominates market due to its high efficiency and ability to be produced on flexible substrates. CIGS-based panels offer excellent performance even in low light conditions, making them ideal for a range of applications, including portable and wearable solar devices. Their lightweight nature and flexibility allow for integration into unconventional surfaces, such as curved structures or vehicles. This combination of efficiency, flexibility, and versatility positions CIGS as a leading technology in the growing flexible solar fabric market.
Flexible Solar Panel Market By Application
- Residential
- Commercial
- Industrial
- Aerospace
- Automobile
- Others
According to the flexible solar panels market forecast, the industrial application segment dominates market, owing to rising need for efficient and adaptable energy solutions in the manufacturing and commercial sectors. Flexible solar panels are perfect for industrial environments because they can be installed on a variety of surfaces, including factory roofs and machinery, without adding substantial weight. Their potential to offer renewable energy in remote or off-grid areas is another important factor driving their adoption.
Flexible Solar Panels Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Flexible Solar Panels Market Regional Analysis
For several reasons, Asia-Pacific dominates the flexible solar fabric market due to its large manufacturing base, growing renewable energy initiatives, and increasing adoption in countries like China and India. The region benefits from favorable government policies, investments in solar technology, and a rising demand for energy-efficient solutions in various sectors. For instance, the most recent World Investment Report reveals a global movement toward sustainable energy, with energy investments increasing from $2.4 trillion in 2018 to $3.1 trillion by 2024. Solar dominates renewable energy investments, accounting for 59% of the total, owing to decreased costs, with APAC emerging as the leading investing region. As a result, Asia-Pacific leads in both production and consumption of flexible solar panels.
North America is growing rapidly in the flexible solar fabric market, driven by rising demand for sustainable energy solutions in the U.S. and Canada. For instance, 2024 Sustainable Energy in America Factbook reveals that the clean energy business is growing, thanks in part to robust policy frameworks. Overall, U.S. greenhouse gas emissions fell 1.8% in 2023 compared to 2022. Government incentives, along with a focus on reducing carbon footprints, are accelerating the adoption of flexible solar panels in both residential and commercial sectors. The growing popularity of electric vehicles and the need for lightweight solar solutions further fuel market expansion in this region.
Flexible Solar Panels Market Players
Some of the top flexible solar panels companies offered in our report include Miasole, Alta Devices, Global Solar Energy, Inc., Enecom, Sunpower Corporation, Solopower System, Flisom, Solbian, Sun Harmonics, and Powerfilm Solar, Inc.
Frequently Asked Questions
How big is the flexible solar panels market?
The flexible solar panels market size was valued at USD 535.8 million in 2023.
What is the CAGR of the global flexible solar panels market from 2024 to 2032?
The CAGR of flexible solar panels is 13.4% during the analysis period of 2024 to 2032.
Which are the key players in the flexible solar panels market?
The key players operating in the global market are including Miasole, Alta Devices, Global Solar Energy, Inc., Enecom, Sunpower Corporation, Solopower System, Flisom, Solbian, Sun Harmonics, and Powerfilm Solar, Inc
Which region dominated the global flexible solar panels market share?
Asia-Pacific held the dominating position in flexible solar panels industry during the analysis period of 2024 to 2032.
Which region registered fastest CAGR from 2024 to 2032?
North America region exhibited fastest growing CAGR for market of flexible solar panels during the analysis period of 2024 to 2032.
What are the current trends and dynamics in the global flexible solar panels industry?
The current trends and dynamics in the flexible solar panels industry include increasing demand for portable and lightweight solar solutions for residential and outdoor applications, growing adoption of renewable energy and favorable government incentives for solar installations, and technological advancements in thin-film and flexible solar panel efficiency
Which type held the maximum share in 2023?
The copper indium gallium selenide held the maximum share of the flexible solar panels industry.
Select Licence Type
Connect with our sales team
Why Acumen Research And Consulting
100%
Customer Satisfaction
24x7
Availability - we are always there when you need us
200+
Fortune 50 Companies trust Acumen Research and Consulting
80%
of our reports are exclusive and first in the industry
100%
more data and analysis
1000+
reports published till date
