Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Photovoltaic Devices Market by Type (Organic Photovoltaic Devices, Inorganic Photovoltaic Devices), By Application (Residential, Non-residential) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Photovoltaic Devices Market by Type (Organic Photovoltaic Devices, Inorganic Photovoltaic Devices), By Application (Residential, Non-residential) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 206402 3300 Machinery & Equipment 377 235 Pages 4.8 (43)

Market Overview:

The global photovoltaic devices market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for renewable energy sources and rising awareness about the benefits of solar energy. Based on type, the global photovoltaic devices market is segmented into organic photovoltaic devices and inorganic photovoltaic devices. Inorganic PV cells are expected to account for a larger share of the market than organic PV cells during the forecast period. This can be attributed to their higher efficiency and longer life span as compared to organic PV cells. Based on application, the global photovoltaic devices market is segmented into residential and non-residential applications.

Global Photovoltaic Devices Industry Outlook

Product Definition:

A photovoltaic device is a material that converts light into electrical energy. Photovoltaic devices are used to power satellites, calculators, and other small electronic devices. They are also used in large-scale power generation applications such as solar farms.

Organic Photovoltaic Devices:

Organic photovoltaic devices are made from materials that possess the ability to generate electricity by harnessing solar energy. Organic PV devices are manufactured using organic compounds such as perovskite, methacrylate, and chlorinated polyethylene. These materials exhibit semiconducting properties which when applied to a solar cell produce current flow with no external electrical supply.

Inorganic Photovoltaic Devices:

Inorganic photovoltaic devices are semiconductor materials that absorb sunlight and convert it to electricity. The most common inorganic photovoltaics used for solar power include glass, silicon, and cadmium telluride. These solar cells have a higher absorption coefficient as compared to organic cells; however, they are more expensive per watt of capacity owing to high raw material costs associated with the production of these inorganic photovoltaics.

Application Insights:

The market is segmented by application into residential and non-residential. The non-residential segment held the largest share of over 70% in 2017. Growing demand for solar energy for commercial buildings, such as hotels, restaurants and educational institutions is expected to drive the growth of this application segment over the forecast period.

The residential sector accounted for a significant share in 2017 owing to increasing government support & subsidies towards installation of rooftop solar systems across countries, such as Germany, Italy and China. In addition, favorable government policies on net metering along with feed-in tariff schemes are expected to increase PV installations in homes across various countries worldwide.

Moreover, growing awareness regarding clean energy along with rising concerns regarding greenhouse gas emissions has resulted in increased focus on renewable sources including wind power.

Regional Analysis:

Asia Pacific accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a growing adoption of solar energy due to government initiatives, which have resulted in high product demand. For instance, China’s 13th Five-Year Plan (2016 - 2020) aims at reducing carbon emissions and promoting sustainable development by encouraging investments in renewable energy technologies including photovoltaics. This plan is expected to boost PV installations across the country, thereby driving regional growth over the next eight years.

North America accounted for a significant market share owing to rising awareness regarding benefits of solar power along with increasing installation of residential facilities across U.S., Canada, and Mexico on account of declining costs associated with PV systems as well as incentives provided by governments for large scale installations under FIT programs & net metering guidelines).

Growth Factors:

  • Increasing demand for electricity due to population growth and industrialization in developing countries
  • Government policies and regulations supporting the use of renewable energy sources
  • Reduction in the cost of photovoltaic devices due to technological advancements and economies of scale
  • Growing awareness about the benefits of using solar energy among consumers and businesses
  • Expansion of installed capacity by leading manufacturers

Scope Of The Report

Report Attributes

Report Details

Report Title

Photovoltaic Devices Market Research Report

By Type

Organic Photovoltaic Devices, Inorganic Photovoltaic Devices

By Application

Residential, Non-residential

By Companies

Kyocera Corporation, Kaneka Corporation, Panasonic Corporation, JA Solar, Trina Solar, Suntech Power Holdings, Sharp, Jinko Solar, Canadian Solar, Mitsubishi Electric, ReneSola, Horiba, Yingli Green, Sanyo Electric, Omnik Solar

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Photovoltaic Devices Market Report Segments:

The global Photovoltaic Devices market is segmented on the basis of:


Organic Photovoltaic Devices, Inorganic Photovoltaic Devices

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Residential, Non-residential

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Kyocera Corporation
  2. Kaneka Corporation
  3. Panasonic Corporation
  4. JA Solar
  5. Trina Solar
  6. Suntech Power Holdings
  7. Sharp
  8. Jinko Solar
  9. Canadian Solar
  10. Mitsubishi Electric
  11. ReneSola
  12. Horiba
  13. Yingli Green
  14. Sanyo Electric
  15. Omnik Solar

Global Photovoltaic Devices Market Overview

Highlights of The Photovoltaic Devices Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Organic Photovoltaic Devices
    2. Inorganic Photovoltaic Devices
  1. By Application:

    1. Residential
    2. Non-residential
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Photovoltaic Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Photovoltaic Devices Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

A photovoltaic device is a technology that converts sunlight into electrical energy. Solar panels are the most common type of photovoltaic devices, but other technologies such as organic solar cells and dye-sensitized solar cells are also being developed.

Some of the major players in the photovoltaic devices market are Kyocera Corporation, Kaneka Corporation, Panasonic Corporation, JA Solar, Trina Solar, Suntech Power Holdings, Sharp, Jinko Solar, Canadian Solar, Mitsubishi Electric, ReneSola, Horiba, Yingli Green, Sanyo Electric, Omnik Solar.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Photovoltaic Devices Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Photovoltaic Devices Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Photovoltaic Devices Market - Supply Chain
   4.5. Global Photovoltaic Devices Market Forecast
      4.5.1. Photovoltaic Devices Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Photovoltaic Devices Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Photovoltaic Devices Market Absolute $ Opportunity

5. Global Photovoltaic Devices Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Photovoltaic Devices Market Size and Volume Forecast by Type
      5.3.1. Organic Photovoltaic Devices
      5.3.2. Inorganic Photovoltaic Devices
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Photovoltaic Devices Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Photovoltaic Devices Market Size and Volume Forecast by Application
      6.3.1. Residential
      6.3.2. Non-residential
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Photovoltaic Devices Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Photovoltaic Devices Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Photovoltaic Devices Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Photovoltaic Devices Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Photovoltaic Devices Demand Share Forecast, 2019-2026

9. North America Photovoltaic Devices Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Photovoltaic Devices Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Photovoltaic Devices Market Size and Volume Forecast by Application
      9.4.1. Residential
      9.4.2. Non-residential
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Photovoltaic Devices Market Size and Volume Forecast by Type
      9.7.1. Organic Photovoltaic Devices
      9.7.2. Inorganic Photovoltaic Devices
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Photovoltaic Devices Demand Share Forecast, 2019-2026

10. Latin America Photovoltaic Devices Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Photovoltaic Devices Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Photovoltaic Devices Market Size and Volume Forecast by Application
      10.4.1. Residential
      10.4.2. Non-residential
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Photovoltaic Devices Market Size and Volume Forecast by Type
      10.7.1. Organic Photovoltaic Devices
      10.7.2. Inorganic Photovoltaic Devices
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Photovoltaic Devices Demand Share Forecast, 2019-2026

11. Europe Photovoltaic Devices Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Photovoltaic Devices Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Photovoltaic Devices Market Size and Volume Forecast by Application
      11.4.1. Residential
      11.4.2. Non-residential
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Photovoltaic Devices Market Size and Volume Forecast by Type
      11.7.1. Organic Photovoltaic Devices
      11.7.2. Inorganic Photovoltaic Devices
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Atractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Photovoltaic Devices Demand Share, 2019-2026

12. Asia Pacific Photovoltaic Devices Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Photovoltaic Devices Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Photovoltaic Devices Market Size and Volume Forecast by Application
      12.4.1. Residential
      12.4.2. Non-residential
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Photovoltaic Devices Market Size and Volume Forecast by Type
      12.7.1. Organic Photovoltaic Devices
      12.7.2. Inorganic Photovoltaic Devices
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Photovoltaic Devices Demand Share, 2019-2026

13. Middle East & Africa Photovoltaic Devices Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Photovoltaic Devices Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Photovoltaic Devices Market Size and Volume Forecast by Application
      13.4.1. Residential
      13.4.2. Non-residential
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Photovoltaic Devices Market Size and Volume Forecast by Type
      13.7.1. Organic Photovoltaic Devices
      13.7.2. Inorganic Photovoltaic Devices
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Photovoltaic Devices Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Photovoltaic Devices Market: Market Share Analysis
   14.2. Photovoltaic Devices Distributors and Customers
   14.3. Photovoltaic Devices Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Kyocera Corporation Overview Financials Developments Strategic Outlook
      14.4.2. Kaneka Corporation Overview Financials Developments Strategic Outlook
      14.4.3. Panasonic Corporation Overview Financials Developments Strategic Outlook
      14.4.4. JA Solar Overview Financials Developments Strategic Outlook
      14.4.5. Trina Solar Overview Financials Developments Strategic Outlook
      14.4.6. Suntech Power Holdings Overview Financials Developments Strategic Outlook
      14.4.7. Sharp Overview Financials Developments Strategic Outlook
      14.4.8. Jinko Solar Overview Financials Developments Strategic Outlook
      14.4.9. Canadian Solar Overview Financials Developments Strategic Outlook
      14.4.10. Mitsubishi Electric Overview Financials Developments Strategic Outlook
      14.4.11. ReneSola Overview Financials Developments Strategic Outlook
      14.4.12. Horiba Overview Financials Developments Strategic Outlook
      14.4.13. Yingli Green Overview Financials Developments Strategic Outlook
      14.4.14. Sanyo Electric Overview Financials Developments Strategic Outlook
      14.4.15. Omnik Solar Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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