Press Release

Solar PV Market Size, Share, Revenue And Growth Rate Till 2026 | Fortune Business Insights

Top Players in Solar PV Market are Jinko solar, Trina Solar, Canadian Solar, JA Solar, Hanwha q cells, GCL system integration, Longi solar, Shufeng, Kyocera, Yingli , RGS energy, Solar City, Soligent , Sun power, Sunnova, Sunrun

The global solar photovoltaic (PV) market is set to gain momentum from the high demand for electricity from various countries. Hence, they are surging their power generation capacity either by installing new plants or by expanding the existing ones. Fortune Business Insights™ presented this information in a new report, titled, “Solar Photovoltaic (PV) Market Size, Share and COVID-19 Impact Analysis By Technology (Monocrystalline Silicon, Thin Film, Polycrystalline Silicon, and Others), By Grid Type (On-grid and Off-grid), By Installation (Ground Mounted, Rooftop, and Others), By Application (Residential, Non-Residential and Utilities), and Regional Forecast, 2020-2027.” The report further states that the solar photovoltaic (PV) market size was USD 162.65 billion in 2019 and is projected to reach USD 185.62 billion by 2027, exhibiting a CAGR of 5.3% during the forecast period.

COVID-19 Pandemic to Delay Multiple Solar Projects Globally

The emergence of the COVID-19 pandemic has taken a toll on the global economy. China is considered to be the major importer of raw materials, prefabricated structures, and inverters. It imports approximately 80% of modules and solar cells to India. The country is under complete lockdown, followed by India. Hence, many solar projects are getting delayed. We are providing an in-depth analysis of the current situation of this market to help you generate more sales.

Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/solar-pv-market-100263

This Report Answers the Following Questions:

  • What are the vital drivers and obstacles of the market?
  • Which segment is set to lead the market in the coming years?
  • What are the dynamics, challenges, and opportunities in the market?
  • Which firms are set to generate more sales of solar PVs?

Drivers & Restraints-

Rising Need to Reduce Dependence on Fossil Fuels will Drive Growth

Regulatory bodies of various countries are imposing stringent environmental protection regulations to encourage power generation enterprises to shift to eco-friendly and cleaner energy resources. Therefore, these countries are striving to increase their renewable energy power generation to lower the dependence on fossil fuels. They are mainly choosing solar energy to meet surging needs. However, solar photovoltaic (PV) operations are difficult to be conducted in water bodies, wetlands, built-up areas, forests, and agricultural lands owing to the instability of such lands, as well as low accessibility. This factor may hamper the solar PV market growth in the near future.

Segmentation

1. By Installation Techniques

  • Flat Roof Solar
  • Pitched Roof Solar
  • Ground Mount Solar
  • Others

2. By Solar Module

  • Monocrystalline
  • Polycrystalline
  • Thin Film

3. By Supply Methods

  • On Grid
  • Off Grid

4. By Application

  • Residential
  • Commercial
  • Industrial
  • Utilities

5. By Geography

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Netherlands, Norway, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Segments-

Ground-mounted Segment to Grow Rapidly Fueled by Usage in Commercial & Utility Purposes

Based on the installation, the ground-mounted segment earned 61.26% in terms of solar photovoltaic (PV) market share in 2019. This growth is attributable to the increasing usage of such solar photovoltaic (PV) for utility and commercial purposes. They are also cost-efficient in terms of maintenance and operations.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/solar-pv-market-100263

Regional Analysis-

Low Manufacturing Cost of Components to Augment Growth in Asia Pacific

Geographically, Asia Pacific generated USD 74.57 billion in terms of revenue in 2019 and is set to retain its dominant position throughout the forthcoming years. This growth is attributable to the low manufacturing cost of components and high solar irradiance levels in the region. Europe, on the other hand, is set to remain in the second position backed by the presence of favorable norms in the region. Besides, the increasing installation of solar farms would propel the demand for solar PVs in the region.

Competitive Landscape-

Key Players Focus on Expanding Their Operating Capacities to Compete with Rivals

The global market for solar photovoltaic (PV) is highly fragmented because of the presence of numerous firms in developing and developed nations. At present, Canadian Solar Inc. is in the leading position on account of its expansion plans. Below are the two latest industry developments:

  • August 2020: Canadian Solar Inc. started construction of the largest industrial and commercial rooftop solar projects in Penang, Malaysia. To do so, it joined hands with Eleaps Sdn. Bhd. and Antah Solar Sdn. Bhd.
  • July 2020: Canadian Solar Inc. broadened its operating capacity by 8.2 MW in Italy by acquiring two portfolios. The 3 MW portfolio comprises of 3 ground-mounted PV plants, while the 5.2 MW portfolio includes 4 roof-top mounted PV plants & 2 PV plants built in a parking lot on top of shelters.

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/solar-pv-market-100263

A list of all the renowned solar photovoltaic (PV) providers operating in the global market:

  • Waaree Group (India)
  • Canadian Solar Inc. (Canada)
  • Abengoa (Spain)
  • BrightSource Energy, Inc. (U.S.)
  • Tata Power Solar Systems Ltd. (India)
  • First Solar (U.S.)
  • eSolar Inc. (U.S.)
  • SunPower Corporation (U.S.)
  • Trina Solar (China)
  • Yingli Solar (China)
  • Acciona Energia S.A.(Spain)
  • Wuxi Suntech Power Co. Ltd. (China)
  • Nextera Energy Sources LLC (U.S.)
  • Vivaan Solar (India)
  • Jinko Solar (China)

Quick Buy – Solar Photovoltaic (PV) Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100263

Detailed Table of Content:

  1. Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  2. Executive Summary
  3. Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  4. Key Insights
    • Key Emerging Trends – For Major Countries
    • Latest Technological Advancement
    • Regulatory Landscape
    • Porters Five Forces Analysis
  5. Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the Solar Photovoltaic (PV) Market
    • Steps Taken by the Government to Overcome the Impact
    • Key Developments in the Industry in Response to COVID-19
    • Potential Opportunities and Challenges due to COVID-19 Outbreak
  6. Global Solar Photovoltaic (PV) Market Analysis (USD Billion) (GW), Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Technology
      • Monocrystalline Silicon
      • Thin Film
      • Polycrystalline Silicon
      • Others
    • Market Analysis, Insights and Forecast – By Installation
      • Ground Mounted
      • Rooftop
      • Others
    • Market Analysis, Insights and Forecast – By Grid Type
      • On-grid
      • Off-grid
    • Market Analysis, Insights and Forecast – By Application
      • Residential
      • Non-Residential
      • Utility
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa

Continued….!

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/solar-pv-market-100263

(Have a Look at Reports Trending in “Energy & Power” Industry)

View Related Reports:

Cloud Storage Market

Vertical Farming Market to Rise at 24.8% CAGR till 2026; Growing Demand for Efficient Crop Produce Will Contribute to Market Growth, says Fortune Business Insights™

Over-The-Top (OTT) Services Market to Reach $86.80 Billion by 2026; Increasing Number of Company Collaborations Will Provide Impetus to Market Growth, says Fortune Business Insights™

Stadium Security Market to Reach US$ 16057.6 Mn by 2025, at a CAGR of 12.8% | | Exclusive Report by Fortune Business Insights

Field-Erected Cooling Towers Market to Reach USD 3.22 Billion by 2027; Expansion of Chemical Plants to Expedite Business, states Fortune Business Insights™

Pull Out and Pull Down Kitchen Faucet Market Share, Industry Size, Leading Companies Outlook, Upcoming Challenges and Opportunities till 2028, Fortune Business Insights

LED Video Wall Market Analysis By Industry Size, Share, Key Drivers, Growth Factors, Demands, Manufacturers and 2028 Forecast, Fortune Business Insights

Contact Center Software Market Latest Industry Size, Share, Future Growth, Sales Revenue and Key Drivers Analysis Research Report 2028, Fortune Business Insights

About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

Contact:
Name: Ashwin Arora
Email: [email protected]
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245

Tags

Jessie Denton

Jessie is the contributing author and editor for the electric vehicle column. She is an automobile engineer and has hypothesized many designs of vehicles based on the renewable sources of energies. She is also an excellent writer, and hence her contribution to the website is noteworthy. Her articles tell about the market of e vehicle, the rise, the drop and also the future predictions.

Related Articles

Close