Growth of Photovoltaic Market Study For 2019 With Industry Overview till The Year 2026
A recent report by KD market insights titled as "Photovoltaic Market Size, Trends &
Opportunity Outlook – Forecast to 2023" provides the key
trends, opportunities and challenges market will face in the forecasted period
of 6 years i.e. 2019-2023. The study also provides the Photovoltaic Market. competitors share and region
wise analysis around the globe.
The global photovoltaic
market was valued at $53,916.0 million in 2018, and is projected to
reach $333,725.1 million by 2026, growing at a CAGR of 25.1% from
2019 to 2026.
Photovoltaic energy is the
energy produced by the sun’s radiation, which is transformed into electricity
in photovoltaic cells. The electricity is then fed into the electricity network
for can then be used in electrical equipment. Photovoltaic energy technology is
widely used in rooftop solar installations to provide stored energy for
residential buildings at a low cost. In addition, on a commercial scale,
photovoltaic technology is used in solar lamps, parking meters, emergency
telephones, trash compactors, temporary traffic signs, charging stations, and
remote guard posts & signals. Moreover, it is used in solar buses and cars
to provide electricity to run the vehicle motor. Furthermore, in the
agricultural sector, photovoltaic technology is widely in solar drying to dry
crops faster. It is further used in photovoltaic panels, which generate
electricity to run water pumps, and serves as an economical option as compared
to new electric lines to provide power to remote locations. Moreover,
photovoltaic technology is used in aerospace & defense sector for
manufacturing of solar panels to be used in satellite to generate electricity
for smooth working of satellite in space. In addition, in telecommunication
industry, it is widely used in PV modules consisting of silicon solar cells
connected in series or parallel that provide the required charging current for
batteries, thus enabling maintenance-free operation and reduced storage costs
for the entire system.
The growth of the global
photovoltaic market is majorly driven by increase in energy demand due to
rising population, in addition, surge in need for sustainable energy resources
has been witnessed across the globe, coupled with favorable government regulations.
These regulations focus on the reduced dependency on fossil fuels and help in
controlling environmental pollution. This in turn is favoring the demand for
renewable energy sources such as solar energy and is the key factor that fuels
the demand for photovoltaic energy. In addition, reduction of carbon footprint
and upsurge in need for low-cost energy generation are expected to propel the
growth of the photovoltaic market.
However, factors such as
high cost of installation, storage, and power conversion devices and low
efficiency of PV module are expected to hinder the growth of this market. On
the contrary, decrease in cost of solar systems and energy storage devices is
expected to offer lucrative opportunity for market growth. In addition,
increase in prices of fossil fuels is anticipated to provide remunerative
opportunities for market expansion, as rise in prices of fossil fuels, such as
coal, will boost the cost of electricity generation, which in turn will result
in increase in usage of photovoltaic energy.
The global photovoltaic
market is segmented based on technology, system, application, and
region. Depending on technology, the market is classified into thin film
(cadmium telluride, copper indium gallium diselenide, and amorphous thin-film
silicon), mono-Si and multi-Si. The systems covered in the study include high
concentrated PV (HCPV) and low concentrated PV (LCPV). On the basis of
application, the market is classified into industrial, residential, and
commercial. Region wise, it is analyzed across North America (U.S., Canada, and
Mexico), Europe (Germany, France, Italy, Spain, UK, and rest of Europe),
Asia-Pacific (China, India, Japan, South Korea, Thailand, Australia, and rest
of Asia-Pacific), and LAMEA (Chile, South Africa, Turkey, and rest of LAMEA).
The major key players
operating in the photovoltaic industry include Abengoa, Acciona, Canadian
Solar, First Solar, JA Solar Co., Ltd., Renesola, Sharp Corporation, Tata Power
Solar Systems Ltd., Trina Solar, and Wuxi Suntech Power Co., Ltd.
KEY BENEFITS FOR
STAKEHOLDERS
> Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
> It outlines the current trends and future scenario of the market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
> Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
> The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
> The profiles of key players along with their key strategic developments are enlisted in the report.
> Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
> It outlines the current trends and future scenario of the market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
> Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
> The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
> The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
By Technology
> Thin Film
> Cadmium Telluride
> Copper Indium Gallium Diselenide
> Amorphous Thin-film Silicon
> Mon- Si
> Multi Si
> Thin Film
> Cadmium Telluride
> Copper Indium Gallium Diselenide
> Amorphous Thin-film Silicon
> Mon- Si
> Multi Si
By System
> High Concentrated PV (HCPV)
> Low Concentrated PV (LCPV)
> High Concentrated PV (HCPV)
> Low Concentrated PV (LCPV)
By Application
> Industrial
> Residential
> Commercial
> Industrial
> Residential
> Commercial
By Region
North America
> U.S.
> Canada
> Mexico
> U.S.
> Canada
> Mexico
Europe
> Germany
> France
> Spain
> Italy
> UK
> Rest of Europe
Asia-Pacific
> China
> Japan
> India
> South Korea
> Thailand
> Australia
> Rest of Asia-Pacific
LAMEA
> Chile
> South Africa
> Turkey
> Rest of LAMEA
Get Complete Research Report
with TOC @: https://www.kdmarketinsights.com/product/photovoltaic-market-amr
Table Of Content:
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For
Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools And
Models
Chapter 2: Executive
Summary
2.1. Key Findings of The
Study
2.2. Key Findings
2.2.1. Top Investment
Pockets
2.3. Cxo Perspective
Chapter 3: Market
Overview
3.1. Market Definition And
Scope
3.2. Key Forces Shaping
Global Photovoltaic Market
3.3. Pricing Analysis
3.3.1. Pricing Analysis,
By Technology, 2018-2026
3.3.2. Pricing Analysis,
By System, 2018-2026
3.3.3. Pricing Analysis,
By Application, 2018-2026
3.3.4. Pricing Analysis,
By Region, 2018-2026
3.4. Value Chain Analysis
3.5. Impact of Government
Regulations On Global Photovoltaic Market
3.6. Patent Analysis
3.6.1. By Region,
2012–2018
3.7. Market Dynamics
3.7.1. Drivers
3.7.1.1. Supportive
Government Policies And Initiatives Toward Usage of Photovoltaic Technology
3.7.1.2. Increase In
Demand For Pv Technology In Residential Applications
3.7.2. Restraints
3.7.2.1. High Cost of
Installation, Storage, And Power Conversion Devices
3.7.2.2. Low Efficiency of
Pv Modules
3.7.3. Opportunities
3.7.3.1. Upsurge In Demand
For Renewable Energy
3.7.3.2. Rise In Prices of
Fossil Fuels
3.7.4. Parent Market
Overview
Chapter 4: Photovoltaic
Market, By Technology
4.1. Overview
4.1.1. Market Size And
Forecast
4.2. Thin Film
4.2.1. Key Market Trends,
Growth Factors, And Opportunities
4.2.2. Market Size And
Forecast, By Region
4.2.2.1. Market Size And
Forecast, By Type
4.2.2.2. Cadmium Telluride
4.2.2.3. Copper Indium
Gallium Diselenide
4.2.2.4. Amorphous
Thin-Film Silicon
4.2.3. Market Share
Analysis, By Country
4.3. Mono-Si
4.3.1. Key Market Trends,
Growth Factors, And Opportunities
4.3.2. Market Size And
Forecast, By Region
4.3.3. Market Share
Analysis, By Country
4.4. Multi-Si
4.4.1. Key Market Trends,
Growth Factors, And Opportunities
4.4.2. Market Size And
Forecast, By Region
4.4.3. Market Share
Analysis, By Country
Chapter 5: Photovoltaic
Market, By System
5.1. Overview
5.1.1. Market Size And
Forecast
5.2. High Concentrated Pv
(Hcpv)
5.2.1. Key Market Trends,
Growth Factors, And Opportunities
5.2.2. Market Size And
Forecast, By Region
5.2.3. Market Share
Analysis, By Country
5.3. Low Concentrated Pv
(Lcpv)
5.3.1. Key Market Trends,
Growth Factors, And Opportunities
5.3.2. Market Size And
Forecast, By Region
5.3.3. Market Share
Analysis, By Country
Chapter 6: Photovoltaic
Market, By Application
6.1. Overview
6.1.1. Market Size And
Forecast
6.2. Industrial
6.2.1. Key Market Trends,
Growth Factors, And Opportunities
6.2.2. Market Size And
Forecast, By Region
6.2.3. Market Share
Analysis, By Country
6.3. Residential
6.3.1. Key Market Trends,
Growth Factors, And Opportunities
6.3.2. Market Size And
Forecast, By Region
6.3.3. Market Share
Analysis, By Country
6.4. Commercial
6.4.1. Key Market Trends,
Growth Factors, And Opportunities
6.4.2. Market Size And
Forecast, By Region
6.4.3. Market Share
Analysis, By Country
Chapter 7: Photovoltaic
Market, By Region
7.1. Overview
7.1.1. Market Size And
Forecast
7.2. North America
7.2.1. Key Market Trends,
Growth Factors, And Opportunities
7.2.2. Market Size And
Forecast, By Technology
7.2.3. Market Size And
Forecast, By System
7.2.4. Market Size And
Forecast, By Application
7.2.5. Market Share
Analysis, By Country
7.2.6. U.S.
7.2.6.1. Market Size And
Forecast, By Technology
7.2.6.2. Market Size And
Forecast, By System
7.2.6.3. Market Size And
Forecast, By Application
7.2.7. Canada
7.2.7.1. Market Size And
Forecast, By Technology
7.2.7.2. Market Size And
Forecast, By System
7.2.7.3. Market Size And
Forecast, By Application
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