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Published March 2, 2018
The term photovoltaics (PV) covers the conversion of light into electricity using semiconducting materials that expose the photovoltaic effect. An ordinary photovoltaic system exploits solar panels in which each comprising some solar cells, which are used to generate electrical power. Photovoltaic installations may be ground-mounted, rooftop mounted or wall mounted. The mount which is used may be fixed or can be used as a solar tracker to follow the sun across the sky. Photovoltaics has various advantages as an energy source, once installed, its operation generates no pollution and no greenhouse gas emissions, it shows simple scalability in respect of power needs and silicon has the large possibility in the Earth’s crust.
Global Photovoltaic Market Segments Size & Growth:
Global Photovoltaic Market size is projected to reach approximately $357.32 billion by the end of 2024 with a CAGR of close to 19.20% from $193.55 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include increasing demand for solar systems in residential applications, the decline in the cost of the photovoltaic, and supportive government policies and initiatives. However, the high cost of installation, storage, and power conversion devices, and an inadequate number of certified installers are thereby hampering the market growth.
The drop in the photovoltaic cost is one of the major factors driving the global photovoltaic market. In 2017, photovoltaic module prices reduced by 75%, as compared to that in 2009. The fall of cost can be mainly attributed to the improvement in material efficiency, production optimisation, and economies of scale. Photovoltaic modules can be installed at the utility, commercial, and residential scales. Volatility in crude oil price, the environmental concern of hydropower, and risk of nuclear radiation accidents in nuclear power plants provide a great opportunity for solar power to meet the increasing demand of energy soon. This would, in turn, have a positive impact on the growth of the global photovoltaic market.
Global Photovoltaic Market Segments Share:
Global Photovoltaic Market is categorised into a type which comprises organic PV, and inorganic PV. By the component, the market is segmented into cells, optics, and trackers. By application, the market is segmented into residential applications, non-residential, and utility applications. Among them, the utility segment accounted for the largest market size in 2017 at 59% because of growing usage of photovoltaics in power plants, military applications, and other utility applications such as space & defence, industrial projects, and so on. By Geography, Asia-Pacific is projected to dominate the market with the largest share, and it has been the fastest growing region during the forecast period because of growth in the population, government regulations, and emerging markets. Also, the increasing focus of players on the development of new products and technological advancements is likely to accelerate the growth of the Asia-Pacific in the next few years.
For the last three to four years, Asia-Pacific has projected for about two-thirds of the global Photovoltaic market. In 2017, the top five markets of China, United States, Japan, India, and United Kingdom, accounting for almost 85% of the addition. Regarding cumulative capacity, the top two countries are China and Japan. China continued to dominate both the use and manufacturing of photovoltaic. It is estimated that by the end of 2018, every continent will install 1 GW of Photovoltaic capacity. The leaders in photovoltaic capacity per inhabitant were Germany, Belgium, Japan, Italy, and Australia.
Global Photovoltaic Market Trends:
the solar power plant in Andhra Pradesh.
Global Photovoltaic Market Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The major market players, such as
Along with these companies, there were many other companies considered/cited in the report while analysing the global photovoltaic market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.
Chapter 1 Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
Chapter 2 Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
Chapter 3 Market Analysis
3.1 Industry Value Chain Analysis
3.2Porter’s Five Force Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 PESTLE Analysis
3.4 SWOT Analysis
3.5 Y-O-Y Analyses
Chapter 4 Market Dynamics
4.1.1 Increasing Demand for Solar Systems in Residential Applications
4.1.2 Supportive Government Policies and initiatives
4.2.1 High Cost of installation, Storage, And Power Conversion Devices
4.2.2 Inadequate Number of Certified installers
4.3.1 Decreasing Costs of Solar Systems and Energy Storage Devices
4.3.2 Increasing Prices of Fossil Fuels
4.4.1 Availability of Operational Land
Chapter 5 Global Photovoltaic Market– By Type
5.1 Organic PV
5.2 Inorganic PV
Chapter 6 Global Photovoltaic Market– By Component
6.1.1 Crystalline Silicon PV Cells
188.8.131.52 Monocrystalline Silicon PV Cells
184.108.40.206 Multicrystalline Silicon PV Cells
6.1.2 Thin Film PV Cells
220.127.116.11 Amorphous Silicon (A-Si) Thin Film PV Cells
18.104.22.168 Cadmium Telluride (CDTE) Thin Film PV Cells
22.214.171.124 Copper indium (Gallium) Diselenide (Cis or Cigs) Thin Film PV Cells
126.96.36.199 Other Thin Film PV Cells
Chapter 7 Global Photovoltaic Market- By Applications
7.1 Residential Applications
7.2 Non-Residential Applications
7.3 Utility Applications
7.3.1 Power Plants Applications
7.3.2 Military & Space Applications
Chapter 8 Global Photovoltaic Market- By Geography
8.2 North America
8.3.6. Rest of Europe
8.4.4 South Korea
8.4.5 Australia & New Zealand
8.4.6 Rest of APAC
8.5 South America
8.6 Middle East & Africa
8.6.1 Middle East
Chapter 9 Global Photovoltaic Market- Company Profiles
9.1 Kaneka Corporation
9.2 Kyocera Corporation
9.3 Mitsubishi Electric Corporation
9.4. Panasonic Corporation
9.5 Sharp Corporation
9.6 Ja Solar Co. Ltd
9.7 Jinko Solar
9.8 China Sunergy
9.9 Suntech Power Holdings Co. Ltd
9.10 Trina Solar
9.11 Yingli Green
9.12 Canadian Solar Inc.
9.13 Bosch Solar Energy AG
9.14 BP Solar
9.15 Greenshine New Energy
Chapter 10 Global Photovoltaic Market- Competitive Landscape
10.1. Market Share Analysis
10.2. Strategies Adopted by top companies
10.3. Mergers, Acquisitions, Collaborations & Agreements
Chapter 11 Market Insights
11.1. Industry Experts Insights
11.2. Analysts Opinions
11.3. Investment Opportunities
Chapter 12 Appendix
12.1 List of Tables
12.2 List of Figures