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ISC Konstanz and the Fraunhofer Institute for Solar Energy Systems ISE analysis of the European PV manufacturing equipment market projects global annual capital expenditure (CAPEX). It expects solar manufacturing equipment to rise from $16.6 billion in 2025 to $43.8 billion by 2035.
The research conducted on behalf of the VDMA also indicates that the global market for solar PV equipment manufacturing used in photovoltaic (PV) production is entering a new phase of growth. This growth, as highlighted in a VDMA Services industry study report, “European Photovoltaics Machinery and Equipment Study,” would be translated into an approximately $250–300 billion global market volume over the next decade. These findings are based on the research conducted by Fraunhofer ISE and ISC Konstanz. 
The research highlights that the global PV market is expected to grow by a factor of 2.5 by 2035, reaching an annual installation level of 1,650 GWp. It also notes that advanced cell technologies such as TOPCon, back contact, heterojunction (HJT), and tandem structures are expected to dominate global demand by 2035.
Based on an overview of global PV manufacturing, key technological trends, and the competitiveness of European machinery and equipment manufacturers, the report reiterates that the projected rise in CAPEX will result in a global market volume of $250–300 billion in the next ten years. The study provides a detailed overview of global PV manufacturing, key technological trends, and the competitiveness of European machinery and equipment manufacturers.
ISC Konstanz co-founder Dr. Radovan Kopecek stated: “European machinery has already demonstrated its strength in current TOPCon technology. The technological shift to back contact, HJT, and tandem cells creates significant opportunities for European equipment suppliers. But speed matters—customers increasingly prioritise short payback cycles, integrated solutions, and fast response times.”
The ISC Konstanz and Fraunhofer report’s author suggested that Europe continues to play a leading role in high-tech solar manufacturing technologies, supported by decades of research and development and a high level of engineering expertise. European production equipment is particularly recognised for its reliability, process stability, and long service lifetimes.
At the same time, a structural disadvantage remains: the research noted that while many key technologies are developed in Europe, industrial-scale manufacturing today takes place predominantly in China, India, and the United States, with the latter two countries also benefiting significantly from strong industrial policy support.
The study emphasises that Europe currently lacks a functioning home market for PV manufacturing equipment. While announcements for GW-scale European PV factories are numerous, tangible investment remains limited. But PD Ralf Preu, Director Photovoltaics at Fraunhofer ISE, emphasised, “Europe continues to develop high-efficiency solar manufacturing technologies, but without large-scale industrial deployment at home, competitiveness is at risk. We do have research excellence; we need real factories with industrial excellence.”
Our View
The wish for manufacturing in Europe does sounds like a wish too far, as multiple factors have been responsible for Europe’s slide into manufacturing also ran status, with none expected to change in the foreseeable future. 
What  we do see is an opportunity for deeper partnerships between India and the European centres that is muchy more equitable and complimentary that the current EU-China relationship for instance. India has a much better record of protecting and respecting IP, besides needs the capital to allow European firms a greater say in strategy as well as share of profits.    
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