Market Overview:
The global solar PV market is expected to grow from USD XX billion in 2018 to USD XX billion by 2030, at a CAGR of X.X%. The growth of the solar PV market can be attributed to the increasing demand for renewable energy sources and the growing awareness about the benefits of solar energy. The global solar PV market is segmented on the basis of type, application, and region. On the basis of type, it is divided into crystalline silicon, compound type, and others. Crystalline silicon held a major share in 2017 and is expected to dominate during the forecast period as well. This can be attributed to its high efficiency levels as compared to other types of solar PV cells. On the basis of application, it is classified into residential, commercial, ground station etc.
Product Definition:
Solar PV systems are used to convert sunlight into electrical energy. Solar PV systems can be installed as either a stand-alone system or as part of a larger, grid-connected system. The importance of solar PV is that it provides an environmentally friendly and renewable source of energy that can help reduce greenhouse gas emissions.
Crystalline Silicon:
Crystalline silicon is the purest form of silicon and has a number of superior properties over poly-crystalline and amorphous Silicon. It possesses higher efficiency in terms of converting solar energy into electricity, has lower weight as compared to other forms, can be manufactured at low cost using basic raw materials such as silica sand, and is easy to transport & install.
Compound Type:
Compound type is a new solar PV technology that uses more than one semiconductor material to generate electricity. It includes amorphous silicon, thin-film technologies and dye-sensitized solar cells (DSSC). DSSC is the most efficient of the three technologies at present. The efficiency of current crystalline silicon based solar panels is around 22%, which falls short of the 30% efficiency mark considered as ideal.
Application Insights:
The utility application segment accounted for the largest share of over 50% in 2017. The segment is projected to witness significant growth due to rising demand from remote and rural areas, where grid-connected PV systems are not feasible or cost-effective. Increasing electricity costs coupled with government support for solar power have created a favorable environment for the growth of utility applications across countries such as China, India and Germany.
The residential sector is expected to be one of the fastest growing segments over the forecast period owing to increasing awareness about energy efficiency among consumers along with financial incentives offered by governments on installing solar panels in homes or apartments. Countries such as Japan, South Korea, Mexico and Spain are focusing on promoting residential installations owing to increased usage of renewable energy in water heating and hot water generation applications.
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 support for solar power generation, rising awareness about renewable energy, and growing investments in R&D by various companies. China accounted for more than 80% of global solar PV capacity additions in 2016 and 2017.
The European region occupied a significant share of global industry revenue owing to large-scale adoption of solar panels on account residential applications in Germany, Italy, France, U.K., and Spain coupled with favorable government policies across Europe that have driven demand for clean energy sources including wind turbines and biomass gasifiers along with concentrated photovoltaic systems (CPV). North America emerged as the second largest regional market accounting for 17% of global share in 2017 owing to high consumer awareness regarding environmental protection coupled with supportive federal policies aimed at reducing carbon footprint associated fossil fuel based electricity generation practices across U.S.
Growth Factors:
- Increasing demand from developing countries for energy to support economic growth.
- Favorable government policies and incentives for solar PV development worldwide.
- Reduction in the cost of solar PV systems due to technological advancements and economies of scale.
- Growing awareness and concern about climate change, air pollution, and energy security, which is driving investment in renewable energy technologies such as solar PV.
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar PV Market Research Report
By Type
Crystalline Silicon, Compound Type, Others
By Application
Residential, Commercial, Ground Station
By Companies
Hanwha Q CELLS, Neo Solar Power, Motech, Kyocera Solar, Gintech Energy, SolarWorld, SunPower, REC Group, Sharp, E-Ton Solar Tech, Trina Solar, Yingli, JA Solar, Canadian Solar, Jinko Solar, China Sunergy, Hareonsolar, Eging PV, TongWei 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
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Solar PV Market Report Segments:
The global Solar PV market is segmented on the basis of:
Types
Crystalline Silicon, Compound Type, Others
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
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 Q CELLS
- Neo Solar Power
- Motech
- Kyocera Solar
- Gintech Energy
- SolarWorld
- SunPower
- REC Group
- Sharp
- E-Ton Solar Tech
- Trina Solar
- Yingli
- JA Solar
- Canadian Solar
- Jinko Solar
- China Sunergy
- Hareonsolar
- Eging PV
- TongWei Solar
Highlights of The Solar PV 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:
- Crystalline Silicon
- Compound Type
- Others
- By Application:
- Residential
- Commercial
- Ground Station
- 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 PV 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?
Solar PV is a technology that uses the power of the sun to generate electricity. Solar PV systems use solar panels to convert sunlight into electrical energy.
Some of the major companies in the solar pv market are Hanwha Q CELLS, Neo Solar Power, Motech, Kyocera Solar, Gintech Energy, SolarWorld, SunPower, REC Group, Sharp, E-Ton Solar Tech, Trina Solar, Yingli, JA Solar, Canadian Solar, Jinko Solar, China Sunergy, Hareonsolar, Eging PV, TongWei Solar.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar PV 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 PV Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Solar PV Market - Supply Chain
4.5. Global Solar PV Market Forecast
4.5.1. Solar PV Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Solar PV Market Size (000 Units) and Y-o-Y Growth
4.5.3. Solar PV Market Absolute $ Opportunity
5. Global Solar PV 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 PV Market Size and Volume Forecast by Type
5.3.1. Crystalline Silicon
5.3.2. Compound Type
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Solar PV 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 PV Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.3.3. Ground Station
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Solar PV 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 PV 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 PV 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 PV 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 PV Demand Share Forecast, 2019-2026
9. North America Solar PV 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 PV 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 PV Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.4.3. Ground Station
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Solar PV Market Size and Volume Forecast by Type
9.7.1. Crystalline Silicon
9.7.2. Compound Type
9.7.3. Others
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 PV Demand Share Forecast, 2019-2026
10. Latin America Solar PV 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 PV 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 PV Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.4.3. Ground Station
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Solar PV Market Size and Volume Forecast by Type
10.7.1. Crystalline Silicon
10.7.2. Compound Type
10.7.3. Others
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 PV Demand Share Forecast, 2019-2026
11. Europe Solar PV 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 PV 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 PV Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.4.3. Ground Station
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Solar PV Market Size and Volume Forecast by Type
11.7.1. Crystalline Silicon
11.7.2. Compound Type
11.7.3. Others
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 Counry
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Solar PV Demand Share, 2019-2026
12. Asia Pacific Solar PV 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 PV 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 PV Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.4.3. Ground Station
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Solar PV Market Size and Volume Forecast by Type
12.7.1. Crystalline Silicon
12.7.2. Compound Type
12.7.3. Others
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 PV Demand Share, 2019-2026
13. Middle East & Africa Solar PV 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 PV 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 PV Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.4.3. Ground Station
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Solar PV Market Size and Volume Forecast by Type
13.7.1. Crystalline Silicon
13.7.2. Compound Type
13.7.3. Others
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 PV Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Solar PV Market: Market Share Analysis
14.2. Solar PV Distributors and Customers
14.3. Solar PV Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Hanwha Q CELLS
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Neo Solar Power
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Motech
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Kyocera 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. Gintech Energy
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. SolarWorld
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SunPower
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. REC Group
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Sharp
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. E-Ton Solar Tech
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Trina 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. Yingli
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. Canadian 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. Jinko 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. China Sunergy
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Hareonsolar
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Eging PV
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. TongWei Solar
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