Photovoltaic (PV) Market Research Report Information By Type (Organic PV, Inorganic PV), Component (Cells, Modules and Optics), Application (Residential Applications, Non-Residential Applications) and Region- Forecast till 2027

Market Overview

Generally, photovoltaic systems are widely used in converting sunlight into electricity. It is eco-friendly as it can produce energy without increasing the carbon footprint from a renewable source. It has proven to offer low operating costs as it is different from the traditional systems. As the electricity demand increases daily, the demand for solar panels for power generation is going higher. The increasing requirement for alternative energy sources and rising concerns regarding climate change are the two major factors that contribute to solar photovoltaic (PV) market growth.

In 2017, the Photovoltaic (PV) Market registered to grow USD 225.6 Billion. Further, it has expectations to meet the growth of USD 547.15 Billion by the end of the year 2023, at a CAGR of 8.2% for the forecast period.

All over the world, governmental authorities are concentrating on solar energy-powered systems and investing more to produce energy through solar panels. Along with this, the government is spreading awareness among individuals regarding the benefits of solar energy. In the Asia-Pacific region, India has increased solar power utilization as the Indian government has implemented a subsidy to all Indian individuals.

The research report explains that the power generation cost using fossil fuels is much higher regularly, but the cost can be reduced by using solar energy. Thus, varying weather conditions and high technical complexity are expected to enhance the forecast period's PV market growth.

The present report has given more focus on the photovoltaic market Trends growth and development. It includes the market segments, market dynamics, COVID-19 analysis, comparative analysis, and other factors by studying various world regions. The global market size of the PV market was immense in the before forecast period.

Covid-19的全球影响

The unpredicted COVID-19 has a global impact that showed a negative demand stock all over the countries. In 2020, the PV market value and size dropped due to lockdown all over the world. In the first half of 2020, the PV market was running down due to the workforce's restrictions and unavailability. The construction of the solar PV power plant was also delayed due to the COVID-19 outbreak. Furthermore, the global market experienced disruption in the supply chain due to several reasons.

总的来说，该报告称，大流行对全球市场产生了负面影响。但在目前的情景中，全球市场现在已经提高了速度来提高光伏市场的增长。

Market Dynamics

• Major Market Drivers

Now that the COVID breakdown has lost its weightage over the market production pace, the key players are exerting immense developments to drive the market growth. The prominent market driving assets for the Global Photovoltaic Market are the growing number of off-grid areas worldwide and increasing investment in solar energy.

Moreover, the PV market is meant to offer diverse applications to different firms. Therefore, the market is growing, and opportunities are being evolved for better work efficiency.

• Opportunities for the PV Market

The growth opportunities of the market are increasing at higher rates. The need for energy is highly essential within the industrial sector and other sectors too. The work operations that are being conducted with advanced machinery require high energy input for streamlined operations.

The photovoltaic market Analysis report explains the industries need to store energy to multiply the power supply aspects when there is a need for more energy. This is because more energy is required to make the machines work efficiently to enhance industry productivity.

• 光伏市场的束缚

Generally, solar power projects require a wide area of land for the generation of power. The selection of land can be the major restraints of the global market. The key players attend to the PV market's primary concerns to find ideal remedies to deal with the restraint.

The power generation needs to be improved to ensure that the output can be enhanced for related industries. The global PV market size will boom in the current forecast years as the key players find the ideal ways to overcome the restraint.

• 市场经历的挑战

像克制一样，全球光伏市场也面临着土地和低能量问题的挑战。需要消除这些挑战，以确保在销售额和收入产生方面的更高生产率。

The key players are enhancing the efficiency of PV market share by technology within the market to improve sales and opportunities. The land issues and low energy problems are often recorded by the end-users, which will be attended by the key players in the present forecast years.

• Cumulative Growth Analysis of Global PV Market

The global PV market analysis is recorded to be at a CAGR of 16.7%, which is comparatively high. The market revenue prediction for the present forecast years is relatively higher than the previous 2017 report.

The report explains that the key players of different regions are putting in their collective efforts and strengths to ensure that the market thrives across various areas regarding increased demands and sales.

技术Analysis of Global PV Market

Many sectors have successfully adapted to the global PV market, due to which the overall growth potential has enhanced. Some of the PV market's intended audiences are Raw material suppliers, Integrated device manufacturers (IDMs, Fabless vendors, fabrication players, Original device manufacturers (ODMs, Electronic design automation (EDA) & design tool vendors, Fabrication, wafer, & foundry process equipment vendors, Power and Energy industry, Original equipment manufacturers (OEMs), Assembly, testing, & packaging vendors, Government and Research and development organizations, etc.

These sectors have understood the industry's demands for increasing the functionality of monocrystalline silicon, polycrystalline silicon, thin-film, and other technologies. So the key players are also enhancing the technology potential behind the service to increase sales and production opportunities.

Market Segment Overview

• By Type

The global PV market is segmented into organic PV and inorganic PV based on the type segmentation. The companies and consumers have adapted these product services for diverse needs.

The photovoltaic market Report explains that these two types have their significance and perks in end outcomes. Various end-users pick their selected type to meet their requirement and develop their product.

• By Component

The segmentation global PV market outlook is classified into modules, cells, and optics. Hence, the distribution service efficiency has preferred these components according to their requirement.

Diverse companies have their requirements and choices within the PV market, and these companies are trying to fulfill their best implementations to the global market.

• By Application

PV市场已被分段为各种应用，例如住宅应用和非住宅应用。

The report explains that with the various photovoltaic applications, the global market demand increases and creates more industrialists' opportunities.

Regional Analysis

Based on the regional analysis, the PV market is widely spread across various global regions. Some of the top-performing regions worldwide are North America, Europe, Asia Pacific, Europe, and the rest of the world. Out of all the regions, the Asia-Pacific has domination in the PV market share due to vendors and various key players in this region.

North America is expected to generate the second largest market share as the global market has government and key players' support.

Competitive Landscape Analysis of the PV Market

The prominent key players of this PV market are:

• Risen Energy Co. Ltd (China),


• Shunfeng International Clean Energy Limited (China),


• 三菱电机公司（日本），


• GCL系统集成(香港),


• JA Solar Holdings (China),


• Kaneka Corporation（日本），


• Sharp Corporation (Japan),


• Suntech Power Co.,


• Trina Solar Limited (China),


• Canadian Solar Inc. (Canada),


• Jinko Solar Holding Co., Ltd. (China),


• Hanwha Q CELLS Co., Ltd. (South Korea)

The photovoltaic market Leaders or players have adopted various strategies to uplift the photovoltaic market size.

光伏市场的最新发展

• In July 2020, India's prime minister inaugurated Asia’s largest solar power plant in Rewa district, Madhya Pradesh. Every year, this plant will reduce emissions similar to approximately 15 lakh tonnes of carbon dioxide.


• 20020年8月，加拿大太阳能宣布马来西亚槟城最大的商业和工业屋顶太阳能项目之一。该项目覆盖率将超过26,000平方米。

Report Overview

The report overview is as follows:

• Overview of the market


• COVID19 Analysis


• Market dynamic analysis


• 技术analysis of PV market


• 市场细分概述


• 区域分类分析


• 竞争景观分析


• Recent Developments of PV market

The report puts light on the global photovoltaic market size and its growth all over the regions.

Segmental Table

• By Type
  
  
  
  • organic PV
  
  
  • inorganic PV
  
  
  
  


• By Component
  
  
  
  • modules,
  
  
  • cells,
  
  
  • optics
  
  
  
  


• By Application
  
  
  
  • residential applications,
  
  
  • 非住宅申请
  
  
  
  


• 按地区
  
  
  
  • North America,
  
  
  • Europe,
  
  
  • Asia-Pacific
  
  
  • rest of the world
  
  
  
  

报告范围：

报告属性/指标	Details
Market Size	USD 102.9 Billion
CAGR	8.2％
基准	2019
预测期	2020-2027
Historical Data	2018
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	类型，组件，应用程序
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
主要供应商	Risen Energy Co. Ltd (China), Shunfeng International Clean Energy Limited (China), Mitsubishi Electric Corporation (Japan), GCL System Integration (Hong Kong), JA Solar Holdings (China), Kaneka Corporation (Japan), Sharp Corporation (Japan), Suntech Power Co., Trina Solar Limited (China), Canadian Solar Inc. (Canada), Jinko Solar Holding Co., Ltd. (China), Hanwha Q CELLS Co., Ltd. (South Korea)
Key Market Opportunities	Governmental authorities are concentrating on solar energy-powered systems and investing more to produce energy through solar panels.
Key Market Drivers	The increasing requirement for alternative energy sources. Rising concerns regarding climate change.

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