Global Solar Photovoltaic Market – Size, Outlook, Trends and Forecast (2024

Global Solar Photovoltaic Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Photovoltaic is a term that converts the light or solar energy into electricity by using semiconductors which shows photovoltaic effect. The photovoltaic system is designed to use solar power with the help of photovoltaics. Nowadays solar cells are being made of different new materials like silicon, containing solar inks with conventional printing press technologies, solar dyes, and conductive plastics. Few solar cells use plastic lenses, mirrors to concentrate sunlight on a minor portion of high-efficiency PV material. Moreover, solar PV has various advantages such as no pollution, greenhouse gas emissions, scalability, and some other.

Global Solar Photovoltaic Market Segments Size & Growth:

Global Solar Photovoltaic Market is accounted for $XX billion in 2017 and expected to grow at a CAGR of XX% to reach $XX billion by 2024 during the forecast period 2018-2024. Major factors that are driving the market growth government initiatives & policies demand solar systems in residential and environmental concerns to generate hydropower, emerging adoption of technology due to consumer awareness towards the cost, and also the rising demand for renewable energy sources. However, lack of skilled labour, high installation cost, the raw material utilised in solar cell manufacturing process, availability of sunlight as well as solar photovoltaic designs which are hampering the growth of the global solar photovoltaic market.

Global Solar Photovoltaic Market Segments Share:

Global Solar Photovoltaic market is categorised into the material which consists of crystalline silicon which

Global Solar Photovoltaic Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

is future segmented into monocrystalline silicon and polycrystalline silicon; and thin film. Among all multi-crystalline or polycrystalline silicon is dominating the market owing to the cost-effective and efficient. By application, it is classified by residential, non-residential and utility. Among others, segments utility has the highest market due to the rise in installations, low cost and has various applications in utilities.

By Geography, Mexico is dominating the growth of the global solar photovoltaic market and the growth in North America are mainly attributed by the government instalments of various solar, CSP, and photovoltaic projects. Asia is valued for about two-thirds of the global solar photovoltaic addition, and the top two companies regarding cumulative capacity are China and Japan. Chinese dominate both the manufacturing and usage of solar photovoltaic with 1GW capacity. However, the Indian government has specified solar energy importance in the nation’s renewable energy mix and invested on Rooftop Subsidy program and Golden Sun Demonstration program to improve PV capacity hence pushing the growth of the solar photovoltaic market.

Global Solar Photovoltaic Market Segments Trends:

In March 2018, SunPower launched Helix storage, which combines energy storage along with software to control electricity cost, especially for commercial solar clients.
In April 2017, Trina Solar Limited has introduced a high-efficiency bifacial module DUOMAX Twin which integrates with the technology of Trina Solar bifacial PERC cell and dual glass DUOMAX module.
In June 2017, Sharp Corporation had an agreement with Roof-Top Solar System to install 11mW solar devices that help in saving electricity in warehouses and stores.
In March 2016, Trina Solar introduces new manufacturing facilities in Thailand o improve photovoltaic modules and solutions.

Global Solar Photovoltaic Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

Trina Solar Ltd
SunPower Corporation
First Solar, Inc.
Canadian Solar Inc.
Sharp Corporation
JA Solar Holdings Co. Ltd
Suntech Power Co.
Yingli Solar

Along with these companies, there were many other companies considered/cited in the report while analysing the Global Solar Photovoltaic market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.

DUOMAX module. In June

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Global Solar Photovoltaic Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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