Market Overview:
The global solar photovoltaic system market is expected to grow at a CAGR of over 13% during the forecast period from 2018 to 2030. The growth in the market can be attributed to factors such as increasing demand for energy, growing concerns about climate change and rising awareness about the benefits of solar photovoltaic systems. The rooftop solar photovoltaic system segment is expected to account for a major share of the global solar photovoltaic system market during the forecast period. This can be attributed to factors such as increasing demand for energy from residential consumers and government initiatives aimed at promoting rooftop solar PV systems. The commercial segment is also expected to witness significant growth during the forecast period, owing to rising demand from businesses for reliable and affordable sources of electricity.
Product Definition:
A solar photovoltaic system is a device that converts sunlight into electricity. Solar photovoltaic systems are used to power homes, businesses, and other applications. The importance of solar photovoltaic systems lies in the fact that they are a renewable source of energy that does not produce greenhouse gases or harmful emissions.
Rooftop Solar Photovoltaic System:
Rooftop solar photovoltaic system, also called as ground-mounted or building-mounted system is a type of solar power plant that uses photovoltaic cells to generate electricity. These systems are used in commercial and residential buildings for providing electricity. The basic components of rooftop solar PV include modules, frame, racking and cabling management systems along with other ancillary components such as insulators, interconnectors etc.
Ground Solar Photovoltaic System:
Ground solar photovoltaic system (GSPVS) is a new technology that uses the sun's energy to generate electricity. It consists of two main components, namely, the ground-based PV module and an aerial device that transfers power to the modules. The GSPVS has high efficiency as compared to conventional systems; it also helps in reducing carbon emission and improving environment sustainability.
Application Insights:
The utility segment dominated the global solar PV system market in 2017, accounting for over 50% of the total revenue. The segment is projected to expand at a CAGR of XX% from 2018 to 2030 owing to rising demand for clean electricity generation and growing investments by governments in promoting renewable energy sources such as solar power.
Residential was the second largest application segment and accounted for 24.1% of the total revenue generated in 2017 due to increasing government initiatives such as Feed-in Tariffs (FiT) & Net Metering Program (NMP) that are aimed at increasing residential adoption across countries including China, Germany and Italy among others. FiT is a premium granted on top of standard retail electricity rates paid by homeowners or commercial entities that produce their own electric power using renewable energy sources like wind or solar rays with installed capacity greater than 10 kilowatts but less than 25 kilowatts.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to increasing government initiatives and favorable regulatory policies in China, India, South Korea, Japan, and Taiwan. In 2016, China accounted for more than 40% of global solar PV installations.
In addition cost-effective renewable energy technologies have also resulted in higher electricity rates which are cheaper than grid based power supply.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Government policies and regulations supporting the deployment of solar photovoltaic systems
- Reduction in the cost of solar photovoltaic systems due to technological advancements and economies of scale
- Rising awareness about the benefits of solar photovoltaic systems among consumers and businesses
- Expansion of the installer base and development of innovative business models that make it easier for consumers to adopt solar photovoltaic systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar Photovoltaic System Market Research Report
By Type
Rooftop Solar Photovoltaic System, Ground Solar Photovoltaic System
By Application
Residential, Commercial, Utility
By Companies
Greenlight Planet, M-KOPA Kenya, Schneider Electric, SMA Solar Technology, Su-Kam Power Systems, JinkoSolar, Canadian Solar, Sungrow, Trina Solar, Huawei Technologies, KACO New Energy, Sharp Corporation, Flin Energy, First Solar, JA Solar
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
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Solar Photovoltaic System Market Report Segments:
The global Solar Photovoltaic System market is segmented on the basis of:
Types
Rooftop Solar Photovoltaic System, Ground Solar Photovoltaic System
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, Utility
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:
- Greenlight Planet
- M-KOPA Kenya
- Schneider Electric
- SMA Solar Technology
- Su-Kam Power Systems
- JinkoSolar
- Canadian Solar
- Sungrow
- Trina Solar
- Huawei Technologies
- KACO New Energy
- Sharp Corporation
- Flin Energy
- First Solar
- JA Solar
Highlights of The Solar Photovoltaic System 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:
- Rooftop Solar Photovoltaic System
- Ground Solar Photovoltaic System
- By Application:
- Residential
- Commercial
- Utility
- 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 Photovoltaic System 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 photovoltaic system (PV) is a type of renewable energy system that uses sunlight to generate electricity. Solar PV systems use panels to convert sunlight into electrical energy.
Some of the major players in the solar photovoltaic system market are Greenlight Planet, M-KOPA Kenya, Schneider Electric, SMA Solar Technology, Su-Kam Power Systems, JinkoSolar, Canadian Solar, Sungrow, Trina Solar, Huawei Technologies, KACO New Energy, Sharp Corporation, Flin Energy, First Solar, JA Solar.
The solar photovoltaic system market is expected to register a CAGR of 13%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar Photovoltaic System 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 Photovoltaic System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Solar Photovoltaic System Market - Supply Chain
4.5. Global Solar Photovoltaic System Market Forecast
4.5.1. Solar Photovoltaic System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Solar Photovoltaic System Market Size (000 Units) and Y-o-Y Growth
4.5.3. Solar Photovoltaic System Market Absolute $ Opportunity
5. Global Solar Photovoltaic System 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 Photovoltaic System Market Size and Volume Forecast by Type
5.3.1. Rooftop Solar Photovoltaic System
5.3.2. Ground Solar Photovoltaic System
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Solar Photovoltaic System 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 Photovoltaic System Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.3.3. Utility
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Solar Photovoltaic System 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 Photovoltaic System 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 Photovoltaic System 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 Photovoltaic System 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 Photovoltaic System Demand Share Forecast, 2019-2026
9. North America Solar Photovoltaic System 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 Photovoltaic System 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 Photovoltaic System Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.4.3. Utility
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Solar Photovoltaic System Market Size and Volume Forecast by Type
9.7.1. Rooftop Solar Photovoltaic System
9.7.2. Ground Solar Photovoltaic System
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 Photovoltaic System Demand Share Forecast, 2019-2026
10. Latin America Solar Photovoltaic System 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 Photovoltaic System 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 Photovoltaic System Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.4.3. Utility
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Solar Photovoltaic System Market Size and Volume Forecast by Type
10.7.1. Rooftop Solar Photovoltaic System
10.7.2. Ground Solar Photovoltaic System
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 Photovoltaic System Demand Share Forecast, 2019-2026
11. Europe Solar Photovoltaic System 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 Photovoltaic System 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 Photovoltaic System Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.4.3. Utility
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Solar Photovoltaic System Market Size and Volume Forecast by Type
11.7.1. Rooftop Solar Photovoltaic System
11.7.2. Ground Solar Photovoltaic System
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market 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 Photovoltaic System Demand Share, 2019-2026
12. Asia Pacific Solar Photovoltaic System 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 Photovoltaic System 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 Photovoltaic System Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.4.3. Utility
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Solar Photovoltaic System Market Size and Volume Forecast by Type
12.7.1. Rooftop Solar Photovoltaic System
12.7.2. Ground Solar Photovoltaic System
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 Photovoltaic System Demand Share, 2019-2026
13. Middle East & Africa Solar Photovoltaic System 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 Photovoltaic System 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 Photovoltaic System Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.4.3. Utility
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Solar Photovoltaic System Market Size and Volume Forecast by Type
13.7.1. Rooftop Solar Photovoltaic System
13.7.2. Ground Solar Photovoltaic System
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 Photovoltaic System Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Solar Photovoltaic System Market: Market Share Analysis
14.2. Solar Photovoltaic System Distributors and Customers
14.3. Solar Photovoltaic System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Greenlight Planet
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. M-KOPA Kenya
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Schneider Electric
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. SMA Solar Technology
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Su-Kam Power Systems
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. JinkoSolar
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Canadian Solar
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Sungrow
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Trina Solar
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Huawei Technologies
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. KACO New Energy
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Sharp Corporation
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Flin Energy
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. First Solar
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. JA Solar
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
