Market Overview:
The global solar module market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for solar energy across the globe and technological advancements in solar modules. In terms of type, the polycrystalline silicon segment is expected to dominate the global solar module market during the forecast period. This can be attributed to its low cost as compared to other types of solar modules available in the market.
Product Definition:
A solar module is a device that converts sunlight into electrical energy. It is made up of one or more solar cells, which are connected together to form a panel. Solar modules are used to power everything from small electronics devices to entire homes and businesses.
Single Crystal Silicon:
Single crystal silicon is the purest form of silicon and has a composition similar to that of sand. It was first produced in 1940 by the Siemens AG company, which also developed solar technology at the same time.
Polycrystalline Silicon:
Polycrystalline Silicon is a type of high purity silicon that has been processed to remove impurities and enhance the overall efficiency of solar modules. It possesses superior properties such as high stability, enhanced performance under adverse weather conditions, and low manufacturing cost which makes it suitable for use in photovoltaic applications.
Application Insights:
The others application segment includes industrial, HVAC, and transportation. The demand for Semiconductors is witnessing a paradigm shift due to the growing need for energy efficiency in various end-use sectors. Growing urbanization along with rising living standards in emerging economies such as China, India and Brazil is expected to drive the global solar module market over the forecast period.
Solar modules are used in numerous applications including residential, commercial and ground stations among others. Increasing government support towards renewable sources of energy has driven the demand for photovoltaic cells which are used as an alternative source of power generation resulting in increased installations of solar modules across multiple applications globally.
Regional Analysis:
Asia Pacific regional market accounted for the largest share of over 40% in 2017. The region is expected to maintain its lead throughout the forecast period owing to increasing demand from residential and commercial applications. China, Japan, South Korea, India and Australia are some of the major solar PV module manufacturing hubs in Asia Pacific.
The European regional market is anticipated to witness a CAGR exceeding 10% from 2018 to 2030 due to stringent government policies regarding climate change and growing renewable energy capacity across countries such as Germany, Italy and Spain among others. Moreover, rising awareness about clean energy solutions among consumers will drive industry growth over the next eight years.
North America occupied a significant share in 2017 owing both polycrystalline silicon (PCS) modules as well as single-crystal silicon (S-Si) ones on account of their increased efficiency compared with amorphous Silicon Module (ISM). However; U.S.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Government policies and regulations supporting the use of solar energy
- Reduction in cost of solar modules
- Rising awareness about the benefits of solar energy among consumers and businesses
- Technological advancements that improve the efficiency and performance of solar modules
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar Module Market Research Report
By Type
Single Crystal Silicon, Polycrystalline Silicon, Other
By Application
Residential, Commercial, Ground Station, Others
By Companies
Hanwha, First Solar, SunPower, Elkem Solar, Sharp, Kyocera Solar, Solar Frontier, Solarworld, Delsolar (NSP), Trina Solar, Canadian Solar, Jinko Solar, JA Solar, GCL System Integration, Yingli, Shunfeng, ReneSola, Risen, Chint Group, Hareonsolar, Eging PV, CSUN, BYD, HT-SAAE
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Solar Module Market Report Segments:
The global Solar Module market is segmented on the basis of:
Types
Single Crystal Silicon, Polycrystalline Silicon, Other
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.
Applications
Residential, Commercial, Ground Station, Others
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:
- Hanwha
- First Solar
- SunPower
- Elkem Solar
- Sharp
- Kyocera Solar
- Solar Frontier
- Solarworld
- Delsolar (NSP)
- Trina Solar
- Canadian Solar
- Jinko Solar
- JA Solar
- GCL System Integration
- Yingli
- Shunfeng
- ReneSola
- Risen
- Chint Group
- Hareonsolar
- Eging PV
- CSUN
- BYD
- HT-SAAE
Highlights of The Solar Module Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Crystal Silicon
- Polycrystalline Silicon
- Other
- By Application:
- Residential
- Commercial
- Ground Station
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Solar Module 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
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A solar module is a component of a solar power system. It converts the sun's energy into electrical current that can be used by the rest of the system.
Some of the key players operating in the solar module market are Hanwha, First Solar, SunPower, Elkem Solar, Sharp, Kyocera Solar, Solar Frontier, Solarworld, Delsolar (NSP), Trina Solar, Canadian Solar, Jinko Solar, JA Solar, GCL System Integration, Yingli, Shunfeng, ReneSola, Risen, Chint Group, Hareonsolar, Eging PV, CSUN, BYD, HT-SAAE.
The solar module market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar Module 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. Solar Module Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Solar Module Market - Supply Chain
4.5. Global Solar Module Market Forecast
4.5.1. Solar Module Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Solar Module Market Size (000 Units) and Y-o-Y Growth
4.5.3. Solar Module Market Absolute $ Opportunity
5. Global Solar Module 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. Solar Module Market Size and Volume Forecast by Type
5.3.1. Single Crystal Silicon
5.3.2. Polycrystalline Silicon
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Solar Module 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. Solar Module Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.3.3. Ground Station
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Solar Module 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. Solar Module 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 Solar Module 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. Solar Module 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 Solar Module Demand Share Forecast, 2019-2026
9. North America Solar Module 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 Solar Module 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 Solar Module Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.4.3. Ground Station
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Solar Module Market Size and Volume Forecast by Type
9.7.1. Single Crystal Silicon
9.7.2. Polycrystalline Silicon
9.7.3. Other
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 Solar Module Demand Share Forecast, 2019-2026
10. Latin America Solar Module 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 Solar Module 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 Solar Module Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.4.3. Ground Station
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Solar Module Market Size and Volume Forecast by Type
10.7.1. Single Crystal Silicon
10.7.2. Polycrystalline Silicon
10.7.3. Other
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 Solar Module Demand Share Forecast, 2019-2026
11. Europe Solar Module 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 Solar Module 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 Solar Module Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.4.3. Ground Station
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Solar Module Market Size and Volume Forecast by Type
11.7.1. Single Crystal Silicon
11.7.2. Polycrystalline Silicon
11.7.3. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Maket Attractiveness/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 Solar Module Demand Share, 2019-2026
12. Asia Pacific Solar Module 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 Solar Module 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 Solar Module Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.4.3. Ground Station
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Solar Module Market Size and Volume Forecast by Type
12.7.1. Single Crystal Silicon
12.7.2. Polycrystalline Silicon
12.7.3. Other
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 Solar Module Demand Share, 2019-2026
13. Middle East & Africa Solar Module 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 Solar Module 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 Solar Module Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.4.3. Ground Station
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Solar Module Market Size and Volume Forecast by Type
13.7.1. Single Crystal Silicon
13.7.2. Polycrystalline Silicon
13.7.3. Other
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 Solar Module Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Solar Module Market: Market Share Analysis
14.2. Solar Module Distributors and Customers
14.3. Solar Module Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Hanwha
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. First Solar
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. SunPower
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Elkem Solar
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Sharp
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Kyocera Solar
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Solar Frontier
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Solarworld
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Delsolar (NSP)
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Trina Solar
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Canadian Solar
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Jinko Solar
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. JA Solar
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. GCL System Integration
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Yingli
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Shunfeng
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. ReneSola
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Risen
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Chint Group
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Hareonsolar
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
