Photovoltaic Market

Photovoltaic Market with COVID-19 Impact, by Component (Modules, Inverters), Material (Silicon, Compounds), Installation Type (Ground Mounted, BIPV), Application (Residential, Commercial & Industrial, Utilities) and Region - Global Forecast to 2025

Report Code: SE 3152 Oct, 2020, by marketsandmarkets.com

[187 Pages Report] The global photovoltaic market is expected to grow from USD 76.6 billion in 2020 to USD 113.1 billion by 2025, at a CAGR of 8.1%. Supportive government policies and initiatives are the primary factors driving the market growth. Moreover, increasing demand for PV systems for residential applications will drive the demand for these products in the near future.

Photovoltaics Market

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COVID-19 Impact on the Global Photovoltaic Market

The photovoltaic market is expected to decline in 2020, mainly due to the impact of COVID-19. Governments of several major economies have enforced lockdowns to curb the spread of COVID-19. With lockdown in place, manufacturing activities have been affected significantly. For instance, in January 2020, the Chinese government announced a lockdown of more than 30 days to tackle COVID-19. As the majority of the PV modules are manufactured in China, the production and supply chain has taken a significant hit. For instance, India imports ~80% of its solar value chain supplies from China. The lockdown had drastically affected the manufacturing capacity of China, as all major ship container companies had also stopped functioning out of Chinese ports and transporting goods from China to other countries. This resulted in supply chain disruptions in March and April 2020. Also, lockdown implemented in other countries caused supply chain disruptions and labor shortages in the PV industry. Companies were not able to source the required labor for their operations due to travel restrictions. Though the market is expected to be impacted in 2020, recovery is expected to commence in 2021, with full recovery by 2022.

Photovoltaic Market Dynamics

Driver: Supportive government policies and initiatives

Governments in various regions are constantly working towards formulating policies to provide photovoltaic projects with grid connection convenience. Countries such as China, Canada, the US, and France are aggressively promoting the use of solar energy. For instance, the Government of Canada launched the Climate Action Incentive Fund (CAIF) in July 2019, a C$150 million (~USD 111 million) incentive program to help fight climate change. Under this program, businesses planning to build renewable energy projects, including solar, are eligible to receive up to 25% of project-related costs, with funding ranging from C$20,000 (~USD 14,672) to C$250,000 (~USD 183,400). Such initiatives and supportive government policies are expected to propel the PV market growth during the forecast period.

Restraint: Lack of skilled workforce for PV installation and maintenance

Photovoltaic installation requires a spectrum of skilled workers, ranging from Ph.D. level scholars in R&D to technicians requiring specialized training and certification to a wide variety of other professionals for supporting all aspects of the PV industry. The industry does not have enough trained installers to handle the implementation of this technology. The availability of appropriately skilled manpower has been one of the most prominent challenges in the PV arena. On the other hand, end-users of the technology demand acknowledged standards, quality assurance, and skills certification during the entire development phase of a PV installation.

Opportunity: Technological advancements in solar cell manufacturing

The solar industry has witnessed various fast-paced technological developments in the past few years. Perovskite is the newest solar material whose crystal structure is good for solar absorption. Perovskite cells also work better than silicon at lower lighting intensities, on cloudy days or for indoors, thus enabling higher conversion efficiency. The main benefit of making solar cells from perovskite is that the material is cheap and abundant and could produce low-cost solar power. Perovskite solar cells can also be produced in very thin layer architectures with high degrees of transparency, which lends them to a variety of novel applications, including building integrated photovoltaic (BIPV) projects and flexible panel designs.

Challenge: Lack of operational land

Solar or PV systems for utilities applications require large areas of land. Some estimates show that the land requirements for utility-scale PV systems are in the range of 5 acres per megawatt (depending upon the technology and availability of sunlight), which indicates a hike in the requirement for serviceable land in the coming years. This might evoke concerns regarding land degradation and habitat loss in some locations. Unlike wind power, there is a minimal possibility for solar projects to share land for agricultural uses. Acquisition of operational land is a major challenge, especially in developing countries like India and China—major markets for PV.

Inverters expected to witness the highest market growth during the forecast period

The market for inverters is expected to grow at the highest CAGR during the forecast period. The growth of the PV inverters market can be attributed to their increasing adoption in residential and utilities applications. Solar inverters are used to convert DC power into AC power, which is then used for domestic utilization. In the last few years, inverter technologies have significantly advanced such that in addition to converting DC to AC, they offer a number of other capabilities and services to ensure that the inverter can operate at an optimal performance level. This includes controlling and monitoring the entire system. With the increasing adoption of rooftop solar systems across the world, the demand for inverters is also rising, which, in turn, is expected to drive the inverters market.

Residential application is expected to witness the largest market growth during the forecast period

The market for the residential application is expected to grow at the highest CAGR during the forecast period. This can be attributed to the declining cost of PV systems in the past few years. In residential applications, PV systems are installed on the rooftop or where adequate sunlight is available to fulfill the home electricity needs. Governments across various countries such as India, China, and the US offer incentives and tax rebate to residential users to install PV systems, which is expected to fuel the growth of the market for PV systems in residential applications during the forecast period.

Asia Pacific is the leading photovoltaic market, globally, by value, in 2019

APAC is projected to lead the PV market from 2020 to 2025. The market growth can be attributed to the presence of key players such as JinkoSolar (China), JA Solar (China), Trina Solar (China), and LONGi (China) in APAC. The growing adoption of PV modules in countries such as China, Japan, and India is fueling the growth of the market. These countries are among the top 5 players in the photovoltaic market in APAC with a cumulative installed photovoltaic capacity of ~300 GW as of 2019. Moreover, the region is the largest producer and consumer of PV modules and related PV components. Various initiatives and favorable policies launched by governments of different countries in APAC to promote the use of solar energy are expected to propel the demand for PV systems in the region during the forecast period.

Photovoltaics Market by Region

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The photovoltaic market is dominated by players such as JinkoSolar (China), JA Solar (China), Trina Solar (China), LONGi (China), and Canadian Solar (Canada).

Scope of the report

Report Metric

Details

Market size available for years

2017-2025

Base year considered

2019

Forecast period

2020-2025

Forecast units

Value (USD Million), Volume (Gigawatts)

Segments covered

By Component, By Material, By Cell Type, By Installation Type, By Application

Geographies covered

North America, Europe, APAC, Rest of the World

Companies covered

The major market players include JinkoSolar (China), JA Solar (China), Trina Solar (China), LONGi (China), and Canadian Solar (Canada) (Total 25 companies)

The study categorizes the photovoltaic market based on component, material, cell type, installation type, and application at the regional and global levels.

By Type

  • Modules
  • Inverters
  • Balance of System (BOS)

By Material

  • Silicon
  • Compounds

By Cell Type

  • Full Cell PV Modules
  • Half Cell PV modules

By Installation Type

  • Ground Mounted
  • Building-Integrated Photovoltaics (BIPV)
  • Floating PV

By Application

  • Residential
  • Commercial & Industrial
  • Utilities

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • APAC
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Rest of the World
    • Middle East & Africa
    • South America

Recent Developments

  • In April 2020, LONGi entered into an agreement with Swedish distributor Senergia for the supply of 9.2 MW of its Hi-MO4 modules. The agreement includes around 25,000 PV modules of various power—23,400 pieces of 370 W and 1,320 pieces of 440 W.
  • In March 2020, JA Solar introduced new Ga-doped wafer-based PV modules. The Ga-doped silicon wafer technology is expected to improve performance in power generation and stability.
  • In February 2020, Canadian Solar announced the commencement of the construction of 2 solar PV power projects in Japan. These two projects are expected to have capacities of 13.6 MWp and 13.0 MWp and are located in Ibaraki Prefecture and Fukuoka Prefecture, respectively. These projects are expected to be operational by mid-2021.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 24)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 GEOGRAPHIC SCOPE
    1.4 INCLUSIONS AND EXCLUSIONS
    1.5 YEARS CONSIDERED
    1.6 CURRENCY
    1.7 STAKEHOLDERS
    1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 28)
    2.1 RESEARCH DATA
        FIGURE 1 PHOTOVOLTAIC MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key industry insights
                    2.1.2.2 Breakdown of primaries
                    2.1.2.3 Key data from primary sources
    2.2 MARKET SIZE ESTIMATION
        FIGURE 2 RESEARCH FLOW OF MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for capturing market size by bottom-up analysis (demand side)
                    2.2.1.2 Major upcoming solar projects in various regions across the world
                            TABLE 1 MAJOR SOLAR PROJECTS ACROSS VARIOUS REGIONS
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for capturing market size by top-down analysis (supply side)
                            FIGURE 3 TOP-DOWN APPROACH TO ARRIVE AT MARKET SIZE
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
        FIGURE 4 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
        FIGURE 5 ASSUMPTIONS FOR RESEARCH STUDY

3 EXECUTIVE SUMMARY (Page No. - 38)
  FIGURE 6 MARKET FOR INVERTERS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  FIGURE 7 SILICON SEGMENT TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD
  FIGURE 8 RESIDENTIAL APPLICATION TO GROW AT HIGHEST CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD
  FIGURE 9 PHOTOVOLTAIC MARKET IN APAC TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 42)
    4.1 ATTRACTIVE OPPORTUNITIES IN PHOTOVOLTAIC MARKET
        FIGURE 10 INCREASING DEMAND FOR PV SYSTEMS FOR RESIDENTIAL APPLICATIONS TO BOOST GROWTH OF THE MARKET
    4.2 PHOTOVOLTAIC MARKET, BY CELL TYPE
        FIGURE 11 HALF CELL TYPE TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
    4.3 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE
        FIGURE 12 FLOATING PV SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    4.4 PHOTOVOLTAIC MARKET IN APAC, BY COUNTRY AND APPLICATION
        FIGURE 13 CHINA AND UTILITIES HELD LARGEST MARKET SHARES OF PHOTOVOLTAIC MARKET IN APAC, BY COUNTRY AND APPLICATION, RESPECTIVELY, IN 2019
    4.5 COUNTRY-WISE PHOTOVOLTAIC MARKET GROWTH RATE
        FIGURE 14 CHINA TO RECORD HIGHEST CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 45)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
        FIGURE 15 IMPACT ANALYSIS OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE PHOTOVOLTAIC MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Supportive government policies and initiatives
                    5.2.1.2 Increasing demand for PV systems for residential applications
                    5.2.1.3 Decreasing cost of PV systems and energy storage devices
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of skilled workforce for PV installation and maintenance
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Upsurge in demand for renewable energy
                            FIGURE 16 GLOBAL TOTAL RENEWABLE ENERGY CAPACITY, 2010–2019 (GW)
                    5.2.3.2 Technological advancements in solar cell manufacturing
           5.2.4 CHALLENGES
                    5.2.4.1 Lack of operational land
                    5.2.4.2 Manufacturing and supply chain constraints due to COVID-19 pandemic
    5.3 VALUE CHAIN ANALYSIS
        FIGURE 17 PHOTOVOLTAICS VALUE CHAIN ANALYSIS
    5.4 TECHNOLOGY ANALYSIS
    5.5 AVERAGE SELLING PRICE TREND
        FIGURE 18 AVERAGE SELLING PRICE TREND FOR PV SYSTEM, 2017–2025
    5.6 CASE STUDY ANALYSIS
           5.6.1 GROUND MOUNTED
           5.6.2 BUILDING INTEGRATED PHOTOVOLTAICS (BIPV)
           5.6.3 FLOATING PV
    5.7 ECOSYSTEM
    5.8 PATENT ANALYSIS
    5.9 REGULATIONS IN VARIOUS REGIONS PERTAINING TO PHOTOVOLTAIC MARKET

6 PHOTOVOLTAIC MARKET, BY COMPONENT (Page No. - 58)
    6.1 INTRODUCTION
        FIGURE 19 PHOTOVOLTAIC MARKET FOR INVERTER TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
        TABLE 2 PHOTOVOLTAIC MARKET, BY COMPONENT, 2017–2025 (USD BILLION)
        TABLE 3 PHOTOVOLTAIC MARKET, BY ANNUAL CAPACITY, 2017-2025 (GW)
    6.2 MODULES
           6.2.1 SOLAR PV MODULES ARE USED FOR BOOSTING POWER OUTPUTS OF PV CELLS
           6.2.2 PV MODULE TYPES
                    6.2.2.1 Organic Photovoltaic (OPV)
                    6.2.2.2 Inorganic Photovoltaic (IPV)
                    6.2.2.3 Hybrid photovoltaic
           6.2.3 BY CELL TYPE
                    6.2.3.1 60 cells
                    6.2.3.2 72 cells
                    6.2.3.3 96 cells
                            FIGURE 20 UTILITIES APPLICATION TO CONTINUE TO HOLD LARGEST SIZE OF PV MODULE MARKET DURING FORECAST PERIOD
                            TABLE 4 PHOTOVOLTAIC MARKET FOR MODULES, BY APPLICATION, 2017–2025 (USD BILLION)
                            TABLE 5 PHOTOVOLTAIC MARKET FOR MODULES FOR RESIDENTIAL APPLICATION, BY REGION, 2017–2025 (USD MILLION)
                            TABLE 6 PHOTOVOLTAIC MARKET FOR MODULES FOR COMMERCIAL & INDUSTRIAL APPLICATION, BY REGION, 2017–2025 (USD MILLION)
                            TABLE 7 PHOTOVOLTAIC MARKET FOR MODULES FOR UTILITIES APPLICATION, BY REGION, 2017–2025 (USD BILLION)
                            TABLE 8 PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2017–2025 (USD BILLION)
    6.3 INVERTERS
           6.3.1 PV INVERTERS CONVERT DIRECT CURRENT (DC) OF PV MODULES INTO GRID-COMPLIANT ALTERNATING CURRENT (AC)
                 FIGURE 21 RESIDENTIAL APPLICATION TO GROW AT HIGHEST CAGR IN INVERTERS MARKET DURING FORECAST PERIOD
                 TABLE 9 PHOTOVOLTAIC MARKET FOR INVERTERS, BY APPLICATION, 2017–2025 (USD BILLION)
                 TABLE 10 PHOTOVOLTAIC MARKET FOR INVERTERS FOR RESIDENTIAL APPLICATION, BY REGION, 2017–2025 (USD MILLION)
                 TABLE 11 PHOTOVOLTAIC MARKET FOR INVERTERS FOR COMMERCIAL & INDUSTRIAL APPLICATION, BY REGION, 2017–2025 (USD MILLION)
                 TABLE 12 PHOTOVOLTAIC MARKET FOR INVERTERS FOR UTILITIES APPLICATION, BY REGION, 2017–2025 (USD MILLION)
                 TABLE 13 PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2017–2025 (USD MILLION)
    6.4 BALANCE OF SYSTEM (BOS)
           6.4.1 BOS HELP TO INCREASE THE EFFICIENCY OF SOLAR SYSTEMS
                 FIGURE 22 UTILITIES APPLICATION TO CONTINUE TO HOLD LARGEST SIZE OF BOS MARKET DURING FORECAST PERIOD
                 TABLE 14 PHOTOVOLTAIC MARKET FOR BOS, BY APPLICATION, 2017–2025 (USD BILLION)
                 TABLE 15 PHOTOVOLTAIC MARKET FOR BOS FOR RESIDENTIAL APPLICATION, BY REGION, 2017–2025 (USD MILLION)
                 TABLE 16 PHOTOVOLTAIC MARKET FOR BOS FOR COMMERCIAL & INDUSTRIAL APPLICATION, BY REGION, 2017–2025 (USD MILLION)
                 TABLE 17 PHOTOVOLTAIC MARKET FOR BOS FOR UTILITIES APPLICATION, BY REGION, 2017–2025 (USD BILLION)
                 TABLE 18 PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2017–2025 (USD BILLION)
    6.5 IMPACT OF COVID-19 ON VARIOUS COMPONENTS

7 PHOTOVOLTAIC MARKET, BY MATERIAL (Page No. - 71)
    7.1 INTRODUCTION
        FIGURE 23 SILICON-BASED PHOTOVOLTAIC SYSTEMS TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
        TABLE 19 PHOTOVOLTAIC MARKET, BY MATERIAL, 2017–2025 (USD BILLION)
    7.2 SILICON
        TABLE 20 PHOTOVOLTAIC MARKET FOR SILICON, BY TYPE, 2017–2025 (USD MILLION)
        TABLE 21 PHOTOVOLTAIC MARKET FOR SILICON, BY REGION, 2017–2025 (USD BILLION)
           7.2.1 CRYSTALLINE SILICON (C-SI)
                 FIGURE 24 MONOCRYSTALLINE PHOTOVOLTAIC SYSTEMS TO WITNESS AT HIGHER CAGR DURING FORECAST PERIOD
                 TABLE 22 PHOTOVOLTAIC MARKET FOR CRYSTALLINE SILICON, BY TYPE, 2017–2025 (USD BILLION)
                 FIGURE 25 PHOTOVOLTAIC MARKET IN APAC FOR CRYSTALLINE SILICON TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                 TABLE 23 PHOTOVOLTAIC MARKET FOR CRYSTALLINE SILICON, BY REGION, 2017–2025 (USD BILLION)
                    7.2.1.1 Crystalline silicon types
                               7.2.1.1.1 Monocrystalline
                                             7.2.1.1.1.1 Higher efficiency and minimum space requirements drive market growth
                                                         TABLE 24 PHOTOVOLTAIC MARKET FOR MONOCRYSTALLINE SILICON, BY REGION, 2017–2025 (USD BILLION)
                               7.2.1.1.2 Multi-crystalline/polycrystalline
                                             7.2.1.1.2.1 Low-cost production of multi-crystalline modules made it preferred choice for residential applications
                                                         TABLE 25 PHOTOVOLTAIC MARKET FOR MULTI-CRYSTALLINE SILICON, BY REGION, 2017–2025 (USD BILLION)
                    7.2.1.2 Crystalline silicon technologies
                            TABLE 26 PHOTOVOLTAIC MARKET FOR CRYSTALLINE SILICON, BY TECHNOLOGY, 2017–2025 (USD BILLION)
                               7.2.1.2.1 BSF
                                             7.2.1.2.1.1 AI BSF is most commonly used technology for fabricating photovoltaic cells
                               7.2.1.2.2 PERC
                                             7.2.1.2.2.1 More efficiency and higher flexibility offered by PERC boost its demand in photovoltaic market
                               7.2.1.2.3 Others
           7.2.2 THIN FILM
                 TABLE 27 PHOTOVOLTAIC MARKET FOR THIN-FILM SILICON, BY REGION, 2017–2025 (USD THOUSANDS)
                    7.2.2.1 Amorphous
                               7.2.2.1.1 Amorphous solar modules can perform better even in low-light conditions
                    7.2.2.2 Nanocrystalline
                               7.2.2.2.1 Use of nanocrystals in solar cells may increase their efficiency by up to 60%
    7.3 COMPOUNDS
        FIGURE 26 CDTE PHOTOVOLTAICS TO COMMAND MARKET FOR COMPOUND MATERIAL DURING FORECAST PERIOD
        TABLE 28 PHOTOVOLTAIC MARKET FOR COMPOUNDS, BY TYPE, 2017–2025 (USD BILLION)
        TABLE 29 PHOTOVOLTAIC MARKET FOR COMPOUNDS, BY REGION, 2017–2025 (USD MILLION)
           7.3.1 COPPER INDIUM GALLIUM SELENIDE (CIGS)
                 TABLE 30 PHOTOVOLTAIC MARKET FOR CIGS, BY REGION, 2017–2025 (USD MILLION)
           7.3.2 CADMIUM TELLURIDE (CDTE)
                    7.3.2.1 CdTe materials are most commonly used in thin-film modules
                            TABLE 31 PHOTOVOLTAIC MARKET FOR CDTE, BY REGION, 2017–2025 (USD MILLION)
           7.3.3 GALLIUM ARSENIDE (GAAS) AND INDIUM PHOSPHIDE (INP)
                    7.3.3.1 GaAs and InP materials can be used to achieve high efficiency for solar cells
           7.3.4 PEROVSKITE
                    7.3.4.1 Perovskite cells can absorb sunlight across entire visible spectrum
           7.3.5 OTHERS
    7.4 IMPACT OF COVID-19 ON MATERIALS

8 PHOTOVOLTAIC MARKET, BY CELL TYPE (Page No. - 83)
    8.1 INTRODUCTION
        FIGURE 27 HALF-CELL PV MODULES TO REGISTER HIGHER CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD
        TABLE 32 PHOTOVOLTAIC MARKET, BY CELL TYPE, 2017–2025 (USD BILLION)
    8.2 FULL-CELL PV MODULES
           8.2.1 FULL-CELL PV MODULES HELD LARGER MARKET SHARE DURING FORECAST PERIOD
                 TABLE 33 PHOTOVOLTAIC MARKET FOR FULL-CELL PV MODULES, BY REGION, 2017–2025 (USD BILLION)
    8.3 HALF-CELL PV MODULES
           8.3.1 MARKET FOR HALF-CELL PV MODULES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
                 TABLE 34 PHOTOVOLTAIC MARKET FOR HALF CELL, BY REGION, 2017–2025 (USD BILLION)
    8.4 IMPACT OF COVID-19 ON DIFFERENT TYPES OF PV CELLS

9 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE (Page No. - 87)
    9.1 INTRODUCTION
        FIGURE 28 FLOATING PV SEGMENT OF PHOTOVOLTAIC MARKET TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
        TABLE 35 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE, 2017–2025 (USD BILLION)
    9.2 GROUND MOUNTED
           9.2.1 GROUND-MOUNTED SEGMENT TO HOLD LARGEST SHARE OF PHOTOVOLTAIC MARKET FROM 2020 TO 2025
    9.3 BUILDING-INTEGRATED PHOTOVOLTAICS (BIPV)
           9.3.1 ROOFTOPS
                    9.3.1.1 Increased rooftop installations of PV modules for residential and commercial applications
           9.3.2 WINDOWS
                    9.3.2.1 Surged adoption of PV windows by business complexes in major cities across the world for substantial reduction in energy bills
    9.4 FLOATING PV
           9.4.1 FLOATING PV SEGMENT OF PHOTOVOLTAIC MARKET TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
    9.5 IMPACT OF COVID-19 ON VARIOUS TYPES OF PV INSTALLATIONS

10 PHOTOVOLTAIC MARKET, BY APPLICATION (Page No. - 92)
     10.1 INTRODUCTION
          FIGURE 29 RESIDENTIAL APPLICATION TO EXHIBIT HIGHEST CAGR IN PV MARKET DURING FORECAST PERIOD
          TABLE 36 PHOTOVOLTAIC MARKET, BY APPLICATION, 2017–2025 (USD BILLION)
     10.2 RESIDENTIAL
             10.2.1 MARKET FOR RESIDENTIAL APPLICATION TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
                    FIGURE 30 MODULES TO REGISTER HIGHEST CAGR IN PHOTOVOLTAIC MARKET FOR RESIDENTIAL APPLICATION FROM 2020 TO 2025
                    TABLE 37 PHOTOVOLTAIC MARKET FOR RESIDENTIAL APPLICATION, BY COMPONENT, 2017–2025 (USD BILLION)
                    TABLE 38 PHOTOVOLTAIC MARKET FOR RESIDENTIAL APPLICATION, BY REGION, 2017–2025 (USD BILLION)
                    TABLE 39 PHOTOVOLTAIC MARKET IN NORTH AMERICA FOR RESIDENTIAL APPLICATION, BY COUNTRY, 2017–2025 (USD MILLION)
                    TABLE 40 PHOTOVOLTAIC MARKET IN EUROPE FOR RESIDENTIAL APPLICATION, BY COUNTRY, 2017–2025 (USD MILLION)
                    TABLE 41 PHOTOVOLTAIC MARKET IN APAC FOR RESIDENTIAL APPLICATION, BY COUNTRY, 2017–2025 (USD MILLION)
                    TABLE 42 PHOTOVOLTAIC MARKET IN ROW FOR RESIDENTIAL APPLICATION, BY REGION, 2017–2025 (USD MILLION)
     10.3 COMMERCIAL AND INDUSTRIAL
             10.3.1 BANKS, EDUCATIONAL INSTITUTIONS, INSURANCE AND GOVERNMENT OFFICES, MANUFACTURING PLANTS, HOSPITALS, AND HOSPITALITY BUILDINGS ARE PART OF COMMERCIAL AND INDUSTRIAL PV SEGMENT
                    TABLE 43 PHOTOVOLTAIC MARKET FOR COMMERCIAL AND INDUSTRIAL, BY COMPONENT, 2017–2025 (USD BILLION)
                    FIGURE 31 APAC TO HOLD LARGEST SHARE OF PHOTOVOLTAIC MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION DURING 2020–2025
                    TABLE 44 PHOTOVOLTAIC MARKET FOR COMMERCIAL AND INDUSTRIAL APPLICATION, BY REGION, 2017–2025 (USD BILLION)
                    TABLE 45 PHOTOVOLTAIC MARKET IN NORTH AMERICA FOR COMMERCIAL AND INDUSTRIAL APPLICATION, BY COUNTRY, 2017–2025 (USD MILLION)
                    TABLE 46 PHOTOVOLTAIC MARKET IN EUROPE FOR COMMERCIAL AND INDUSTRIAL APPLICATION, BY COUNTRY, 2017–2025 (USD MILLION)
                    TABLE 47 PHOTOVOLTAIC MARKET IN APAC FOR COMMERCIAL AND INDUSTRIAL APPLICATION, BY COUNTRY, 2017–2025 (USD MILLION)
                    TABLE 48 PHOTOVOLTAIC MARKET IN ROW FOR COMMERCIAL AND INDUSTRIAL APPLICATION, , BY REGION, 2017–2025 (USD MILLION)
     10.4 UTILITIES
             10.4.1 UTILITIES APPLICATION TO ACCOUNT FOR LARGEST SHARE OF PV MARKET THROUGHOUT FORECAST PERIOD
                    FIGURE 32 BOS TO CAPTURE LARGEST SHARE OF PHOTOVOLTAIC MARKET FOR UTILITIES APPLICATION THROUGHOUT FORECAST PERIOD
                    TABLE 49 PHOTOVOLTAIC MARKET FOR UTILITIES APPLICATION, BY COMPONENT, 2017–2025 (USD BILLION)
                    TABLE 50 PHOTOVOLTAIC MARKET FOR UTILITIES APPLICATION, BY REGION, 2017–2025 (USD BILLION)
                    TABLE 51 PHOTOVOLTAIC MARKET IN NORTH AMERICA FOR UTILITIES APPLICATION, BY COUNTRY, 2017–2025 (USD MILLION)
                    TABLE 52 PHOTOVOLTAIC MARKET IN EUROPE FOR UTILITIES APPLICATION, BY COUNTRY, 2017–2025 (USD MILLION)
                    TABLE 53 PHOTOVOLTAIC MARKET IN APAC FOR UTILITIES APPLICATION, BY COUNTRY, 2017–2025 (USD BILLION)
                    TABLE 54 PHOTOVOLTAIC MARKET IN ROW FOR UTILITIES APPLICATIONS, BY REGION, 2017–2025 (USD MILLION)
     10.5 IMPACT OF COVID-19 ON APPLICATIONS

11 PHOTOVOLTAIC CONCENTRATION SYSTEMS (Page No. - 103)
     11.1 INTRODUCTION
     11.2 HIGH CONCENTRATION PV
     11.3 MEDIUM & LOW CONCENTRATION PV

12 PHOTOVOLTAIC SYSTEM, BY POWER CAPACITY (Page No. - 104)
     12.1 INTRODUCTION
     12.2 UP TO 100 WP
     12.3 100.1 TO 300 WP
     12.4 ABOVE 300 WP

13 GEOGRAPHIC ANALYSIS (Page No. - 107)
     13.1 INTRODUCTION
          TABLE 55 CUMULATIVE INSTALLED PHOTOVOLTAIC CAPACITY OF TOP 10 COUNTRIES, 2019
          FIGURE 33 PHOTOVOLTAIC MARKET IN APAC TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
          TABLE 56 PHOTOVOLTAIC MARKET, BY REGION, 2017–2025 (USD BILLION)
     13.2 NORTH AMERICA
          FIGURE 34 SNAPSHOT: PHOTOVOLTAIC MARKET IN NORTH AMERICA
          TABLE 57 PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2025 (USD MILLION)
          TABLE 58 PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY COMPONENT, 2017–2025 (USD BILLION)
          TABLE 59 PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY MATERIAL, 2017–2025 (USD MILLION)
          TABLE 60 PHOTOVOLTAIC MARKET IN NORTH AMERICA FOR SILICON, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 61 PHOTOVOLTAIC MARKET IN NORTH AMERICA FOR CRYSTALLINE SILICON, BY TYPE, 2017–2025 (USD BILLION)
          TABLE 62 PHOTOVOLTAIC MARKET IN NORTH AMERICA FOR COMPOUNDS, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 63 PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY CELL TYPE, 2017–2025 (USD MILLION)
          TABLE 64 PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY APPLICATION, 2017–2025 (USD BILLION)
             13.2.1 US
                        13.2.1.1 US to account for largest size of photovoltaic market in North America from 2020 to 2025
                                 TABLE 65 PHOTOVOLTAIC MARKET IN US, BY APPLICATION, 2017–2025 (USD MILLION)
             13.2.2 CANADA
                        13.2.2.1 Canada with significant solar energy resources to witness large-space solar installations from 2020 to 2025
                                 TABLE 66 PHOTOVOLTAIC MARKET IN CANADA, BY APPLICATION, 2017–2025 (USD MILLION)
             13.2.3 MEXICO
                        13.2.3.1 Photovoltaic market in Mexico is projected to grow at highest CAGR from 2020 to 2025
                                 TABLE 67 PHOTOVOLTAIC MARKET IN MEXICO, BY APPLICATION, 2017–2025 (USD MILLION)
             13.2.4 GOVERNMENT INITIATIVES TO SUPPORT GROWTH OF PHOTOVOLTAIC MARKET IN NORTH AMERICA
     13.3 EUROPE
          FIGURE 35 SNAPSHOT: PHOTOVOLTAIC MARKET IN EUROPE
          TABLE 68 PHOTOVOLTAIC MARKET IN EUROPE, BY COUNTRY, 2017–2025 (USD MILLION)
          TABLE 69 PHOTOVOLTAIC MARKET IN EUROPE, BY COMPONENT, 2017–2025 (USD BILLION)
          TABLE 70 PHOTOVOLTAIC MARKET IN EUROPE, BY MATERIAL, 2017–2025 (USD MILLION)
          TABLE 71 PHOTOVOLTAIC MARKET IN EUROPE FOR SILICON, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 72 PHOTOVOLTAIC MARKET IN EUROPE FOR CRYSTALLINE SILICON, BY TYPE, 2017–2025 (USD BILLION)
          TABLE 73 PHOTOVOLTAIC MARKET IN EUROPE FOR COMPOUNDS, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 74 PHOTOVOLTAIC MARKET IN EUROPE, BY CELL TYPE, 2017–2025 (USD BILLION)
          TABLE 75 PHOTOVOLTAIC MARKET IN EUROPE, BY APPLICATION, 2017–2025 (USD BILLION)
             13.3.1 UK
                        13.3.1.1 Efforts to install large-scale PV systems to harness solar resources expected to fuel growth of photovoltaic market in UK
                                 TABLE 76 PHOTOVOLTAIC MARKET IN UK, BY APPLICATION, 2017–2025 (USD MILLION)
             13.3.2 GERMANY
                        13.3.2.1 Germany to account for largest size of photovoltaic market in Europe from 2020 to 2025
                                 TABLE 77 PHOTOVOLTAIC MARKET IN GERMANY, BY APPLICATION, 2017–2025 (USD MILLION)
             13.3.3 FRANCE
                        13.3.3.1 Photovoltaic market in France to grow at highest CAGR from 2020 to 2025
                                 TABLE 78 PHOTOVOLTAIC MARKET IN FRANCE, BY APPLICATION, 2017–2025 (USD MILLION)
             13.3.4 ITALY
                        13.3.4.1 Italy held sixth position globally in terms of total installed PV capacity as of 2019
                                 TABLE 79 PHOTOVOLTAIC MARKET IN ITALY, BY APPLICATION, 2017–2025 (USD MILLION)
             13.3.5 REST OF EUROPE
                                 TABLE 80 PHOTOVOLTAIC MARKET IN REST OF EUROPE, BY APPLICATION, 2017–2025 (USD BILLION)
             13.3.6 GOVERNMENT INITIATIVES TO SUPPORT GROWTH OF PHOTOVOLTAIC MARKET IN EUROPE
     13.4 ASIA PACIFIC (APAC)
          FIGURE 36 SNAPSHOT: PHOTOVOLTAIC MARKET IN APAC
          TABLE 81 PHOTOVOLTAIC MARKET IN APAC, BY COUNTRY, 2017–2025 (USD BILLION)
          TABLE 82 PHOTOVOLTAIC MARKET IN APAC, BY COMPONENT, 2017–2025 (USD BILLION)
          TABLE 83 PHOTOVOLTAIC MARKET IN APAC, BY MATERIAL, 2017–2025 (USD BILLION)
          TABLE 84 PHOTOVOLTAIC MARKET IN APAC FOR SILICON, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 85 PHOTOVOLTAIC MARKET IN APAC FOR CRYSTALLINE SILICON, BY TYPE, 2017–2025 (USD BILLION)
          TABLE 86 PHOTOVOLTAIC MARKET IN APAC FOR COMPOUNDS, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 87 PHOTOVOLTAIC MARKET IN APAC, BY CELL TYPE, 2017–2025 (USD BILLION)
          TABLE 88 PHOTOVOLTAIC MARKET IN APAC, BY APPLICATION, 2017–2025 (USD BILLION)
             13.4.1 CHINA
                        13.4.1.1 China to account for largest size of photovoltaic market from 2020 to 2025
                                 TABLE 89 PHOTOVOLTAIC MARKET IN CHINA, BY APPLICATION, 2017–2025 (USD BILLION)
             13.4.2 JAPAN
                        13.4.2.1 Presence of 73 of world’s 100 largest floating PV plants in Japan to fuel market growth in country
                                 TABLE 90 PHOTOVOLTAIC MARKET IN JAPAN, BY APPLICATION, 2017–2025 (USD MILLION)
             13.4.3 INDIA
                        13.4.3.1 Target of Government of India to carry out 100 GW solar capacity additions by 2022 to fuel market growth in country
                                 TABLE 91 PHOTOVOLTAIC MARKET IN INDIA, BY APPLICATION, 2017–2025 (USD BILLION)
             13.4.4 SOUTH KOREA
                        13.4.4.1 South Korea held tenth position globally in terms of total installed PV capacity as of 2019
                                 TABLE 92 PHOTOVOLTAIC MARKET IN SOUTH KOREA, BY APPLICATION, 2017–2025 (USD MILLION)
             13.4.5 REST OF APAC
                    TABLE 93 PHOTOVOLTAIC MARKET IN REST OF APAC, BY APPLICATION, 2017–2025 (USD MILLION)
             13.4.6 GOVERNMENT INITIATIVES TO SUPPORT GROWTH OF PHOTOVOLTAIC MARKET IN APAC
     13.5 REST OF THE WORLD (ROW)
          FIGURE 37 PHOTOVOLTAIC MARKET IN SOUTH AMERICA FOR ROW TO GROW AT HIGH CAGR FROM 2020 TO 2025
          TABLE 94 PHOTOVOLTAIC MARKET IN ROW, BY REGION, 2017–2025 (USD BILLION)
          TABLE 95 PHOTOVOLTAIC MARKET IN ROW, BY COMPONENT, 2017–2025 (USD MILLION)
          TABLE 96 PHOTOVOLTAIC MARKET IN ROW, BY MATERIAL, 2017–2025 (USD MILLION)
          TABLE 97 PHOTOVOLTAIC MARKET IN ROW FOR SILICON, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 98 PHOTOVOLTAIC MARKET IN ROW FOR CRYSTALLINE SILICON, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 99 PHOTOVOLTAIC MARKET IN ROW FOR COMPOUNDS, BY TYPE, 2017–2025 (USD MILLION)
          TABLE 100 PHOTOVOLTAIC MARKET IN ROW, BY CELL TYPE, 2017–2025 (USD BILLION)
          TABLE 101 PHOTOVOLTAIC MARKET IN ROW, BY APPLICATION, 2017–2025 (USD BILLION)
             13.5.1 SOUTH AMERICA
                        13.5.1.1 Photovoltaic market in South America to grow at high CAGR from 2020 to 2025
                                 TABLE 102 PHOTOVOLTAIC MARKET IN SOUTH AMERICA, BY APPLICATION, 2017–2025 (USD MILLION)
             13.5.2 MIDDLE EAST AND AFRICA
                        13.5.2.1 Middle East and Africa to account for large size of photovoltaic market in RoW from 2020 to 2025
                                 TABLE 103 PHOTOVOLTAIC MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 2017–2025 (USD MILLION)
     13.6 IMPACT OF COVID-19 ON PHOTOVOLTAIC MARKET IN VARIOUS REGIONS

14 COMPETITIVE LANDSCAPE (Page No. - 134)
     14.1 OVERVIEW
     14.2 COMPANY EVALUATION QUADRANT
             14.2.1 STAR
             14.2.2 EMERGING LEADER
             14.2.3 PERVASIVE
             14.2.4 PARTICIPANT
                    FIGURE 38 COMPANY EVALUATION MATRIX, 2019
     14.3 PRODUCT FOOTPRINT ANALYSIS OF TOP PLAYERS
          FIGURE 39 PRODUCT FOOTPRINT ANALYSIS OF TOP PLAYERS IN PHOTOVOLTAIC MARKET
     14.4 MARKET RANKING ANALYSIS: PHOTOVOLTAIC MARKET, 2019
          FIGURE 40 GLOBAL PHOTOVOLTAIC MARKET RANKING ANALYSIS, 2019
     14.5 MARKET SHARE ANALYSIS: PHOTOVOLTAIC MARKET, 2019
          FIGURE 41 SHARE OF TOP 5 PLAYERS OF PHOTOVOLTAIC MARKET (2019)
     14.6 HISTORICAL REVENUE ANALYSIS OF MAJOR MARKET PLAYERS
          FIGURE 42 HISTORICAL REVENUE ANALYSIS OF MAJOR MARKET PLAYERS
     14.7 KEY MARKET DEVELOPMENTS
             14.7.1 PRODUCT LAUNCHES
                    TABLE 104 PRODUCT LAUNCHES, 2019–2020
             14.7.2 AGREEMENTS, COLLABORATIONS, PARTNERSHIPS, AND CONTRACTS
                    TABLE 105 AGREEMENTS, COLLABORATIONS, PARTNERSHIPS, AND CONTRACTS, 2019–2020
             14.7.3 ACQUISITIONS
                    TABLE 106 ACQUISITIONS, 2018–2020
             14.7.4 EXPANSIONS
                    TABLE 107 EXPANSIONS, 2018–2019

15 COMPANY PROFILES (Page No. - 144)
     15.1 INTRODUCTION
     15.2 KEY PLAYERS
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
             15.2.1 JINKOSOLAR
                    FIGURE 43 JINKOSOLAR: COMPANY SNAPSHOT
             15.2.2 JA SOLAR
             15.2.3 TRINA SOLAR
             15.2.4 LONGI
                    FIGURE 44 LONGI: COMPANY SNAPSHOT
             15.2.5 CANADIAN SOLAR
                    FIGURE 45 CANADIAN SOLAR: COMPANY SNAPSHOT
             15.2.6 FIRST SOLAR
                    FIGURE 46 FIRST SOLAR: COMPANY SNAPSHOT
             15.2.7 HANWHA Q CELLS
             15.2.8 MITSUBISHI ELECTRIC
                    FIGURE 47 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
             15.2.9 SHARP
                    FIGURE 48 SHARP: COMPANY SNAPSHOT
             15.2.10 WUXI SUNTECH POWER
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
     15.3 RIGHT TO WIN
     15.4 OTHER KEY PLAYERS
             15.4.1 ARRAY TECHNOLOGIES
             15.4.2 CHINT SOLAR (ASTRONERGY)
             15.4.3 GCL SYSTEM INTEGRATION TECHNOLOGY
             15.4.4 HUAWEI
             15.4.5 LG ELECTRONICS
             15.4.6 NEXTRACKER
             15.4.7 RISEN ENERGY
             15.4.8 SMA SOLAR TECHNOLOGY
             15.4.9 SUNGROW POWER SUPPLY
             15.4.10 TONGWEI SOLAR
             15.4.11 YINGLI SOLAR

16 APPENDIX (Page No. - 180)
     16.1 DISCUSSION GUIDE
     16.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     16.3 AVAILABLE CUSTOMIZATIONS
     16.4 RELATED REPORTS
     16.5 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the global photovoltaic market. Exhaustive secondary research has been done to collect information about the market, the peer market, and the parent market. Validating findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.

Secondary Research

The secondary sources referred to for this research study include solar industry organizations such as the Solar Energy Industries Association (SEIA), American Solar Energy Society (ASES), International Electrotechnical Commission (IEC), Indian Solar Manufacturers Association (ISMA), and corporate filings (such as annual reports, investor presentations, and financial statements). Secondary data has been collected and analyzed to arrive at the overall market size, further validated by primary research.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the photovoltaic market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand-and supply-side players across four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (the Middle East & Africa and South America). Approximately 30% and 70% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Photovoltaics Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down and bottom-up approaches have been used to estimate and validate the overall size of the photovoltaic market. These methods have also been used extensively to estimate the size of various market subsegments.

The research methodology used to estimate the market size by top-down approach includes the following:

  • Focusing initially on top-line investments and expenditures made in the PV market ecosystem
  • Calculating the market size considering photovoltaic shipments in each region i.e North America, Europe, APAC, and RoW and multiplying it by their respective ASPs. Estimating 2020 values by considering COVID-19 impact across the value chain of the PV market. Analyzing recovery scenarios across the globe to further forecast values
  • Conducting multiple on-field discussions with key opinion leaders across major companies involved in the development of photovoltaics to understand the pre-COVID-19 and post-COVID-19 scenarios
  • Estimating the geographic split using secondary sources based on various factors such as the demand in a specific country and region, role of major players in the market for the development of innovative products, and adoption and penetration rates in particular countries for various end-user applications

The research methodology used to estimate the market size by bottom-up approach includes the following:

  • Identifying key participants in the PV market that influence the entire market, along with the related component players
  • Analyzing major manufacturers of PV devices and material providers, studying their portfolios, and understanding different components and products. Analyzing developments undertaken by key players in the pre-COVID-19 period as well as studying the measures/steps undertaken by them to deal with the COVID-19 pandemic
  • Analyzing the anticipated change in demand in the post-COVID-19 scenario
  • Analyzing trends pertaining to the use of PV devices for different kinds of applications
  • Tracking the ongoing and upcoming developments in the market, such as investments, R&D activities, product launches, collaborations, and partnerships, and forecasting the market based on these developments and other critical parameters
  • Carrying out multiple discussions with key opinion leaders to understand different types of PV components and applications and recent trends in the market, thereby analyzing the breakup of the scope of work carried out by major companies
  • Arriving at the market estimates by analyzing revenues of companies generated and then combining the same to get the market estimate
  • Segmenting the overall market into various other market segments
  • Verifying and cross-checking the estimate at every level from the discussion with key opinion leaders such as CXOs, directors, and operations managers, and finally with the domain experts in MarketsandMarkets
  • Studying various paid and unpaid sources of information such as annual reports, press releases, white papers, and databases

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, for residential, commercial and industrial, and utility applications.

Report Objectives

  • To describe and forecast the photovoltaic (PV) market, by component, material, cell type, installation type, and application, in terms of value
  • To describe and forecast the market size for regions, namely, North America, Europe,
    Asia Pacific (APAC), and Rest of the World (RoW), in terms of value
  • To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To provide a detailed overview of the value chain pertaining to the photovoltaic ecosystem, along with the average selling price trends
  • To strategically analyze the ecosystem, patent landscape, and various case studies pertaining to the PV market
  • To strategically analyze micromarkets1 with regard to individual growth trends, prospects,
    and contributions to the total market
  • To strategically profile key players and comprehensively analyze their market position
    in terms of ranking and core competencies2, and provide details about the competitive landscape of the market
  • To analyze strategic approaches such as product launches, acquisitions, agreements, and partnerships in the PV market
  • Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Detailed analysis and profiling of additional market players
COVID-19

Get in-depth analysis of the COVID-19 impact on the Photovoltaic Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Photovoltaic Market

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