Report Feature
The future of the photovoltaic market looks promising with opportunities in residential, commercial & industrial, and utility applications. The global photovoltaic market is expected to grow with a CAGR of 7% to 9% from 2021 to 2026. The major drivers for this market are supportive policies and initiatives from governments, increasing demand for clean energy, and growing demand for PV systems for residential applications.
A more than 150 page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of photovoltaic market report download the report brochure.
The study includes trends and forecasts for the global photovoltaic market by component, material, cell type, installation type, application, and region as follows:
By Component [$M shipment analysis for 2015 – 2026]:
- Modules
- Inverters
- Balance of System (BOS)
By Material [$M shipment analysis for 2015 – 2026]:
- Silicon
- Compounds
By Cell Type [$M shipment analysis for 2015 – 2026]:
- Full Cell PV Modules
- Half Cell PV modules
By Installation Type [$M shipment analysis for 2015 – 2026]:
- Ground Mounted
- Building-Integrated Photovoltaics (BIPV)
- Floating PV
By Application [$M shipment analysis for 2015 – 2026]:
- Residential
- Commercial & Industrial
- Utilities
By Region [$M shipment analysis for 2015 – 2026]:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- The Rest of the World
Inverter will remain the largest component segment due to increasing demand for solar photovoltaic inverters in the residential and utility industries.
Residential application segment is expected to witness the highest growth over the forecast period due to declining cost of PV system in the past few years.
Asia Pacific will remain the largest region during the forecast period due to the existence of key players and favorable government policy for solar energy.
Some of the photovoltaic companies profiled in this report include JinkoSolar, JA Solar, Trina Solar, LONGi, Sharp Corporation, First Solar, and Canadian Solar.
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Features of Photovoltaic Market |
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This report answers following 11 key questions |
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Q.1 What are some of the most promising potential, high-growth opportunities for the global photovoltaic market by installation type (ground mounted, building-integrated photovoltaics (BIPV), and floating PV), cell type (full cell PV modules and half cell PV modules), application (residential, commercial & industrial, and utilities), material (silicon and compounds), component (modules, inverters, and balance of system (BOS)), and region (North America, Europe, Asia Pacific, and the Rest of the World)? Q.2 Which segments will grow at a faster pace and why? Q.3 Which regions will grow at a faster pace and why? Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the photovoltaic market? Q.5 What are the business risks and threats to the photovoltaic market? Q.6 What are emerging trends in this photovoltaic market and the reasons behind them? Q.7 What are some changing demands of customers in the photovoltaic market? Q.8 What are the new developments in the photovoltaic market? Which companies are leading these developments? Q.9 Who are the major players in the photovoltaic market? What strategic initiatives are being implemented by key players for business growth? Q.10 What are some of the competitive products and processes in the photovoltaic market, and how big of a threat do they pose for loss of market share via material or product substitution? Q.11 What M&A activities did take place in the last five years in the photovoltaic market? |
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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