Photovoltaic Market to 2027 - Global Analysis and Forecasts By Application (Residential Applications, Commercial Applications, Utility Applications); Type (Organic Components, Inorganic Components); Component (Cells, Optics, Trackers)
The photovoltaic market accounted for US$ 153.99 Bn in 2018 and is expected to grow at a CAGR of 19.8% during the forecast period 2019 - 2027, to account to US$ 768.1 Bn by 2027.
Solar energy is considered to be one of the most abundantly available renewable energy resources in the region and is observing remarkable growth potential. The increasing focus toward sustainable development, along with a move toward minimizing carbon and greenhouse gas emissions is acting as an impetus for the growth of the market. Further, the socioeconomic set-up for large-scale renewable energy projects is also influenced by several variables such as GDP, value addition, welfare, employment, and available infrastructures. Solar energy has brought significant changes to energy usage patterns, from being an alternative source of energy to becoming a primary source of energy for power generation. It is quite evitable with the growing research and development activities focused on the increased production of solar energy, coupled with positive government initiatives and decreasing costs of photovoltaic equipment, in the Asian countries which, in turn, has led to the growth of the photovoltaic market.
Global Photovoltaic Market
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Market Insights
Focus towards renewable energy forms has led to the growth of the photovoltaic market
Renewable energy is regarded as a clean form of energy obtained from natural sources, which can be continuously replenished. Energy derived from renewable sources such as sunlight, wind, tides, and geothermal heat is sustainable and cost-effective. With the increase in population coupled with a rise in industrialization and economic development, the energy requirements have grown consistently, which is posing a burden upon natural resources. Over-exploitation and depletion of natural resources along with environmental degradation have led to a shift over renewable forms of energy. The demand for electricity is associated with social and economic development that generates a requirement to shift to renewables in order to tackle climate change and promote sustainability of the environment while meeting the energy demands of future generations. The growing focus towards renewable energy forms of energy has led to the expansion in the solar energy capacity which is expected to drive the growth of the photovoltaic market.
Rising demand for grid-connected PV systems will create growth opportunities for the global photovoltaic market
Power providers across the world provide net metering, which is defined as an arrangement where the excess electricity produced by grid-connected renewable energy systems returns to the electricity meter. This avoids wastage and improves energy distribution as and when needed. Such types of systems, also known as a grid-connected PV system, grid-tied, or on-grid solar system, are electrically connected with the primary electricity grid locally. A grid-connected system helps power homes or small businesses via renewable sources of energy at significantly low cost. The main advantage of using such methods is its simplicity along with maintenance costs, minimized electricity bills, and no energy wastage.
Form Insights
Based on the component, the global photovoltaic market has been segmented into the cells, optics, and trackers. Photovoltaic cells consist of two or more thin layers of semi-conducting material. The most commonly used material in the photovoltaic cell is silicon. The semiconductor cells are exposed to light to generate electrical charges, and this can be conducted by metal contacts as direct current (DC). The electricity generated from a single cell is small; thus, multiple cells are connected together to form a string, which produces direct current. There are two types of cells that are commercially used, which includes crystalline silicon PV cells and thin-film PV cells. Crystalline silicon photovoltaic is the most widely used photovoltaic cell technology.
Rest of Middle East and Africa Photovoltaic Market by Component
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Strategic Insights
Strategic market initiatives such as market initiative, merger and acquisition, and new development have positively impacted the growth of the global photovoltaic market. The recent development in the global photovoltaic market is listed below:
2019: Panasonic has announced that it has reached a collaboration and acquisition agreement with GS-Solar (China) Company Limited, a thin-film solar manufacturer, to sell a 90% stake of its solar manufacturing subsidiary, Panasonic Energy Malaysia.
2017: Kaneka Corporation has built a solar cell with a photoconversion rate of 26.3 percent, breaking the previous record of 25.6 percent. Although it’s just a 2.7 percent increase in efficiency, improvements in commercially viable solar cell technology are increasingly hard-won.
2018: Kyocera Corporation and Tokyo Century Corporation announced that Kyocera TCL Solar LLC (herein “Kyocera TCL Solar”) has completed construction of a 28 megawatt (MW) utility-scale solar power plant in the town of Taiwa, Kurokawa District, Miyagi Prefecture, Japan.
Global Photovoltaic Market – By Application
- Residential Applications
- Commercial Applications
- Utility Applications
- Organic Components
- Inorganic Components
- Cells
- Optics
- Trackers
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Taiwan
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Kaneka Corporation
- Kyocera Corporation
- Sharp Corporation
- JA Solar Co. Ltd
- Renesola Co. Ltd
- Trina Solar
- Jinko Solar
- Shunfeng International Clean Energy Limited
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Photovoltaic Market, by Application
1.3.2 Photovoltaic Market, by Type
1.3.3 Photovoltaic Market, by Component
1.3.4 Photovoltaic Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Photovoltaic Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East and Africa
4.2.5 South America
5. Photovoltaic Market – Global Market Analysis
5.1 Global Photovoltaic Market Overview
5.2 Global Photovoltaic Market Forecast and Analysis
5.3 Market Positioning – Key Market Players
6. Photovoltaic Market – Key Industry Dynamics
6.1 Key Market Drivers
6.1.1 Focus Toward Renewable Energy Forms
6.1.2 Supportive Government Policies
6.2 Key Market Restraints
6.2.1 High Cost Associated with Photovoltaic Systems
6.3 Key Market Opportunities
6.3.1 Increasing Use of Photovoltaic Paints for Tapping Solar Energy
6.4 Key Future Trends
6.4.1 Rising Demand for Grid-Connected PV Systems
6.5 Impact Analysis
7. Global Photovoltaic Market Analysis – By Type
7.1 Overview
7.2 Global Photovoltaic Market Breakdown, by Type, 2018 & 2027
7.3 Organic Components
7.3.1 Overview
7.3.2 Global Organic Components Photovoltaic Market Revenue Forecast to 2027 (US$ Bn)
7.4 Inorganic Components
7.4.1 Overview
7.4.2 Global Inorganic Components Photovoltaic Market, Revenue Forecast to 2027 (US$ Bn)
8. Global Photovoltaic Market Analysis – By Component
8.1 Overview
8.2 Global Photovoltaic Market Breakdown, By Component, 2018 & 2027
8.3 Cells
8.3.1 Overview
8.3.2 Global Cells Market Revenue Forecasts to 2027 (US$ Bn)
8.4 Optics
8.4.1 Overview
8.4.2 Global Optics Market Revenue Forecasts to 2027 (US$ Bn)
8.5 Trackers
8.5.1 Overview
8.5.2 Global Trackers Market Revenue forecast to 2027 (US$ Bn)
9. Global Photovoltaic Market Analysis – by Application
9.1 Overview
9.2 Global Photovoltaic Market Breakdown, By Application, 2018 & 2027
9.3 Commercial Applications
9.3.1 Overview
9.3.2 Global Commercial Applications in Photovoltaic Revenue and Forecasts to 2027 (US$ BN)
9.4 Residential Application
9.4.1 Overview
9.4.2 Global Residential Application in Photovoltaic Revenue Forecast to 2027 (US$ BN)
9.5 Utility Application
9.5.1 Overview
9.5.2 Global Utility Application in Photovoltaic Revenue and Forecast to 2027 (US$ BN)
10. Photovoltaic Market – Geographic Analysis
10.1 Overview
10.2 North America Photovoltaic Market Revenue and Forecasts to 2027
10.2.1 North America Photovoltaic Market Revenue and Forecast to 2027 (US$ Bn)
10.2.2 North America Photovoltaic Market Breakdown, by Application
10.2.3 North America Photovoltaic Market Breakdown, by Type
10.2.4 North America Photovoltaic Market Breakdown, by Component
10.2.5 North America Photovoltaic Market Breakdown, by Country
10.2.5.1 US Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.2.5.1.1 US Photovoltaic Market Breakdown, by Application
10.2.5.1.2 US Photovoltaic Market Breakdown, by Type
10.2.5.1.3 US Photovoltaic Market Breakdown, by Component
10.2.5.2 Canada Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.2.5.2.1 Canada Photovoltaic Market Breakdown, by Application
10.2.5.2.2 Canada Photovoltaic Market Breakdown, by Type
10.2.5.2.3 Canada Photovoltaic Market Breakdown, by Component
10.2.5.3 Mexico Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.2.5.3.1 Mexico Photovoltaic Market Breakdown, by Application
10.2.5.3.2 Mexico Photovoltaic Market Breakdown, by Type
10.2.5.3.3 Mexico Photovoltaic Market Breakdown, by Component
10.3 Europe Photovoltaic Market Revenue and Forecasts to 2027
10.3.1 Europe Photovoltaic Market Revenue and Forecast to 2027 (US$ Bn)
10.3.2 Europe Photovoltaic Market Breakdown, by Application
10.3.3 Europe Photovoltaic Market Breakdown, by Type
10.3.4 Europe Photovoltaic Market Breakdown, by Component
10.3.5 Europe Photovoltaic Market Breakdown, by Country
10.3.5.1 Germany Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.3.5.1.1 Germany Photovoltaic Market Breakdown, by Application
10.3.5.1.2 Germany Photovoltaic Market Breakdown, by Type
10.3.5.1.3 Germany Photovoltaic Market Breakdown, by Component
10.3.5.2 France Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.3.5.2.1 France Photovoltaic Market Breakdown, by Application
10.3.5.2.2 France Photovoltaic Market Breakdown, by Type
10.3.5.2.3 France Photovoltaic Market Breakdown, by Component
10.3.5.3 Italy Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.3.5.3.1 Italy Photovoltaic Market Breakdown, by Application
10.3.5.3.2 Italy Photovoltaic Market Breakdown, by Type
10.3.5.3.3 Italy Photovoltaic Market Breakdown, by Component
10.3.5.4 Spain Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.3.5.4.1 Spain Photovoltaic Market Breakdown, by Application
10.3.5.4.2 Spain Photovoltaic Market Breakdown, by Type
10.3.5.4.3 Spain Photovoltaic Market Breakdown, by Component
10.3.5.5 UK Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.3.5.5.1 UK Photovoltaic Market Breakdown, by Application
10.3.5.5.2 UK Photovoltaic Market Breakdown, by Type
10.3.5.5.3 UK Photovoltaic Market Breakdown, by Component
10.3.5.6 Russia Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.3.5.6.1 Russia Photovoltaic Market Breakdown, by Application
10.3.5.6.2 Russia Photovoltaic Market Breakdown, by Type
10.3.5.6.3 Russia Photovoltaic Market Breakdown, by Component
10.3.5.7 Rest of Europe Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.3.5.7.1 Rest of Europe Photovoltaic Market Breakdown, by Application
10.3.5.7.2 Rest of Europe Photovoltaic Market Breakdown, by Type
10.3.5.7.3 Rest of Europe Photovoltaic Market Breakdown, by Component
10.4 SAM Photovoltaic Market Revenue and Forecast to 2027
10.4.1 SAM Photovoltaic Market Revenue and Forecast to 2027 (US$ Bn)
10.4.2 SAM Photovoltaic Market Breakdown, By Application
10.4.3 SAM Photovoltaic Market Breakdown, By Type
10.4.4 SAM Photovoltaic Market Breakdown, By Component
10.4.5 SAM Photovoltaic Market Breakdown, by Country
10.4.5.1 Brazil Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.4.5.1.1 Brazil Photovoltaic Market Breakdown, By Application
10.4.5.1.2 Brazil Photovoltaic Market Breakdown, By Type
10.4.5.1.3 Brazil Photovoltaic Market Breakdown, By Component
10.4.5.2 Argentina Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.4.5.2.1 Argentina Photovoltaic Market Breakdown, By Application
10.4.5.2.2 Argentina Photovoltaic Market Breakdown, By Type
10.4.5.2.3 Argentina Photovoltaic Market Breakdown, By Component
10.4.5.3 Rest of SAM Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.4.5.3.1 Rest of SAM Photovoltaic Market Breakdown, By Application
10.4.5.3.2 Rest of SAM Photovoltaic Market Breakdown, By Type
10.4.5.3.3 Rest of SAM Photovoltaic Market Breakdown, By Component
10.5 APAC Photovoltaic Market Revenue and Forecast to 2027
10.5.1 APAC Photovoltaic Market Revenue and Forecast to 2027 (US$ Bn)
10.5.2 APAC Photovoltaic Market Breakdown, By Application
10.5.3 APAC Photovoltaic Market Breakdown, By Type
10.5.4 APAC Photovoltaic Market Breakdown, By Component
10.5.5 APAC Photovoltaic Market Breakdown, by Country
10.5.5.1 Australia Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.5.5.1.1 Australia Photovoltaic Market Breakdown, By Application
10.5.5.1.2 Australia Photovoltaic Market Breakdown, By Type
10.5.5.1.3 Australia Photovoltaic Market Breakdown, By Component
10.5.5.2 China Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.5.5.2.1 China Photovoltaic Market Breakdown, By Application
10.5.5.2.2 China Photovoltaic Market Breakdown, By Type
10.5.5.2.3 China Photovoltaic Market Breakdown, By Component
10.5.5.3 Japan Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.5.5.3.1 Japan Photovoltaic Market Breakdown, By Application
10.5.5.3.2 Japan Photovoltaic Market Breakdown, By Type
10.5.5.3.3 Japan Photovoltaic Market Breakdown, By Component
10.5.5.4 India Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.5.5.4.1 India Photovoltaic Market Breakdown, By Application
10.5.5.4.2 India Photovoltaic Market Breakdown, By Type
10.5.5.4.3 India Photovoltaic Market Breakdown, By Component
10.5.5.5 South Korea Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.5.5.5.1 South Korea Photovoltaic Market Breakdown, By Application
10.5.5.5.2 South Korea Photovoltaic Market Breakdown, By Type
10.5.5.5.3 South Korea Photovoltaic Market Breakdown, By Component
10.5.5.6 Taiwan Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.5.5.6.1 Taiwan Photovoltaic Market Breakdown, By Application
10.5.5.6.2 Taiwan Photovoltaic Market Breakdown, By Type
10.5.5.6.3 Taiwan Photovoltaic Market Breakdown, By Component
10.5.5.7 Rest of APAC Photovoltaic Market Revenue and Forecast to 2027 (US$ BN)
10.5.5.7.1 Rest of APAC Photovoltaic Market Breakdown, By Application
10.5.5.7.2 Rest of APAC Photovoltaic Market Breakdown, By Type
10.5.5.7.3 Rest of APAC Photovoltaic Market Breakdown, By Component
10.6 MEA Photovoltaic Market Revenue and Forecast to 2027
10.6.1 MEA Photovoltaic Market Revenue and Forecast to 2027 (US$ Bn)
10.6.2 MEA Photovoltaic Market Breakdown, By Application
10.6.3 MEA Photovoltaic Market Breakdown, By Type
10.6.4 MEA Photovoltaic Market Breakdown, By Component
10.6.5 MEA Photovoltaic Market Breakdown, by Country
11. Company Profiles
11.1 Mitsubishi Electric Corporation
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.2 Panasonic Corporation
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Kaneka Corporation
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Kyocera Corporation
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Sharp Corporation
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 JA Solar Co., Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Renesola Co. Ltd
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Trina Solar
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.9 Jinko Solar
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Shunfeng International Clean Energy Co., Ltd.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. Global Photovoltaic Market Revenue and Forecasts to 2027 (US$ Bn)
Table 2. North America Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 3. North America Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 4. North America Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 5. US Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 6. US Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 7. US Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 8. Canada Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 9. Canada Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 10. Canada Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 11. Mexico Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 12. Mexico Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 13. Mexico Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 14. Europe Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 15. Europe Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 16. Europe Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 17. Germany Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 18. Germany Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 19. Germany Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 20. France Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 21. France Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 22. France Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 23. Italy Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 24. Italy Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 25. Italy Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 26. Spain Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 27. Spain Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 28. Spain Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 29. UK Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 30. UK Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 31. UK Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 32. Russia Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 33. Russia Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 34. Russia Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 35. Rest of Europe Photovoltaic Market Revenue and Forecasts to 2027 – By Application (US$ Bn)
Table 36. Rest of Europe Photovoltaic Market Revenue and Forecasts to 2027 – By Type (US$ Bn)
Table 37. Rest of Europe Photovoltaic Market Revenue and Forecasts to 2027 – By Component (US$ Bn)
Table 38. SAM Photovoltaic Market Revenue and Forecast, By Application, 2018–2027, (US$ Bn)
Table 39. SAM Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 40. SAM Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 41. Brazil Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 42. Brazil Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 43. Brazil Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 44. Argentina Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 45. Argentina Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 46. Argentina Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 47. Rest of SAM Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 48. Rest of SAM Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 49. Rest of SAM Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 50. APAC Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 51. APAC Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 52. APAC Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 53. Australia Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 54. Australia Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 55. Australia Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 56. China Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 57. China Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 58. China Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 59. Japan Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 60. Japan Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 61. Japan Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 62. India Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 63. India Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 64. India Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 65. South Korea Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 66. South Korea Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 67. South Korea Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 68. Taiwan Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 69. Taiwan Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 70. Taiwan Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 71. Rest of APAC Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 72. Rest of APAC Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 73. Rest of APAC Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 74. MEA Photovoltaic Market Revenue and Forecast to 2027 – By Application (US$ Bn)
Table 75. MEA Photovoltaic Market Revenue and Forecast to 2027 – By Type (US$ Bn)
Table 76. MEA Photovoltaic Market Revenue and Forecast to 2027 – By Component (US$ Bn)
Table 77. Glossary of Term: Enterprise Labeling Software Market
LIST OF FIGURES
Figure 1. Photovoltaic Market Segmentation
Figure 2. Geographic Segmentation of Photovoltaic Market
Figure 3. Photovoltaic Market Overview
Figure 4. Utility Application Held Larger Share of Photovoltaic Market in 2018
Figure 5. Photovoltaic Market, by Geography, Value and CAGR
Figure 6. Photovoltaic Industry Landscape
Figure 7. Geographic Overview of Photovoltaic Market
Figure 8. Photovoltaic Market Forecast and Analysis, (US$ Bn)
Figure 9. Impact Analysis of Drivers And Restraints
Figure 10. Global Photovoltaic Market Breakdown, by Type, Value, 2018 & 2027 (%)
Figure 11. Global Organic Components Photovoltaic Market, Revenue Forecast, 2018–2027 (US$ Bn)
Figure 12. Global Inorganic Components Photovoltaic Market Revenue Forecast to 2027 (US$ Bn)
Figure 13. Global Photovoltaic Market Breakdown, by Component, Value, 2018 & 2027 (%)
Figure 14. Global Cells Market Revenue Forecast to 2027 (US$ Bn)
Figure 15. Global Optics Market Revenue, Forecast to 2027 (US$ Bn)
Figure 16. Global Trackers Market, Revenue Forecast, 2018–2027 (US$ Bn)
Figure 17. Global Photovoltaic Market Breakdown by Application, by Value, 2018 & 2027 (%)
Figure 18. Global Commercial Applications in Photovoltaic Market, Revenue and Forecast, 2017-2027 (US$ BN)
Figure 19. Global Residential Application in Photovoltaic Revenue Forecast to 2027 (US$ BN)
Figure 20. Global Industrial in Photovoltaic Market Revenue and Forecasts to 2027 (US$ BN)
Figure 21. Photovoltaic Market Breakdown, by Region, 2018 & 2027 (%)
Figure 22. North America Photovoltaic Market Revenue and Forecasts to 2027 (US$ Bn)
Figure 23. North America Photovoltaic Market Breakdown, By Application, 2018 & 2027 (%)
Figure 24. North America Photovoltaic Market Breakdown, by Type, 2018 & 2027 (%)
Figure 25. North America Photovoltaic Market Breakdown, by Component, 2018 & 2027 (%)
Figure 26. North America Photovoltaic Market Breakdown, by Country, 2018 & 2027(%)
Figure 27. US Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 28. Canada Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 29. Mexico Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 30. Europe Photovoltaic Market Revenue and Forecasts to 2027 (US$ Bn)
Figure 31. Europe Photovoltaic Market Breakdown, by Application, 2018 & 2027 (%)
Figure 32. Europe Photovoltaic Market Breakdown, by Type, 2018 & 2027 (%)
Figure 33. Europe Photovoltaic Market Breakdown, by Component, 2018 & 2027 (%)
Figure 34. Europe Photovoltaic Market Breakdown, by Country, 2018 & 2027(%)
Figure 35. Germany Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 36. France Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 37. Italy Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 38. Spain Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 39. UK Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 40. Russia Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 41. Rest Of Europe Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 42. SAM Photovoltaic Market Revenue and Forecast to 2027 (US$ Bn)
Figure 43. SAM Photovoltaic Market Breakdown, By Application, 2018 & 2027 (%)
Figure 44. SAM Photovoltaic Market Breakdown, By Type, 2018 & 2027 (%)
Figure 45. SAM Photovoltaic Market Breakdown, By Component, 2018 & 2027 (%)
Figure 46. SAM Photovoltaic Market Breakdown, By Country, 2018 & 2027(%)
Figure 47. Brazil Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 48. Argentina Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 49. Rest of SAM Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 50. APAC Photovoltaic Market Revenue and Forecast to 2027 (US$ Bn)
Figure 51. APAC Photovoltaic Market Breakdown, By Application, 2018 & 2027 (%)
Figure 52. APAC Photovoltaic Market Breakdown, By Type, 2018 & 2027 (%)
Figure 53. APAC Photovoltaic Market Breakdown, By Component, 2018 & 2027 (%)
Figure 54. APAC Photovoltaic Market Breakdown, By Country, 2018 & 2027(%)
Figure 55. Australia Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 56. China Photovoltaic Market Forecast To 2027 (US$ Bn)
Figure 57. Japan Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 58. India Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 59. South Korea Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 60. Taiwan Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 61. Rest Of APAC Photovoltaic Market Forecasts to 2027 (US$ Bn)
Figure 62. MEA Photovoltaic Market Revenue and Forecast to 2027 (US$ Bn)
Figure 63. MEA Photovoltaic Market Breakdown, By Application, 2018 & 2027 (%)
Figure 64. MEA Photovoltaic Market Breakdown, By Type, 2018 & 2027 (%)
Figure 65. MEA Photovoltaic Market Breakdown, By Component, 2018 & 2027 (%)
Figure 66. MEA Photovoltaic Market Breakdown, By Country, 2018 & 2027(%)
The List of Companies
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Kaneka Corporation
- KYOCERA Corporation
- Sharp Corporation
- JA Solar Co.,Ltd.
- Renesola Co. Ltd
- Trina Solar
- Jinko Solar
- Shunfeng International Clean Energy Co., Ltd.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global photovoltaic market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Frequently Asked Questions
The leading type of photovoltaic type is inorganic components that has noted to account a CAGR of 22.3%. Organic components or solar cells are made of thin films of organic semiconducting materials so as to convert solar energy into electrical energy. A typical organic components device consists of one or more photoactive materials between two electrodes. A primary advantage of organic components technology over inorganic components is its ability to be applied in a large area and flexible solar modules.
The Asia Pacific region led the photovoltaic market with a market share of 52.13%in 2018. Solar energy has brought significant changes to energy usage pattern, from being an alternative source of energy to becoming a primary source of energy for power generation. It is quite evitable with the growing research and development activities focused on the increased production of solar energy, coupled with positive government initiatives and decreasing costs of photovoltaic equipment, in the Asian countries. Further, the diversification in the use of solar energy generation techniques by harnessing various technologies such as PV cell, thermal heating, and concentrated solar power technology is also leading to the growth of this industry.
Renewable energy is regarded as a clean form of energy obtained from natural sources, which can be continuously replenished. Energy derived from renewable sources such as sunlight, wind, tides, and geothermal heat are sustainable and cost-effective. With the increase in population coupled with a rise in industrialization and economic development, the energy requirements have grown consistently, which is posing a burden upon natural resources. For instance, in the US, about 29% of global warming emissions are contributed to the electricity sector. Such emissions are resulted from the utilization of fossil fuels such as coal and natural gas. Over-exploitation and depletion of natural resources along with environmental degradation have led to a shift over renewable forms of energy. The demand for electricity is associated with social and economic development that generates a requirement to shift to renewables in order to tackle climate change and promote sustainability of the environment while meeting energy demands of future generations. Renewable forms of energy generate little or no global warming emissions.