太陽光発電（PV）市場レポート：タイプ別、グリッドタイプ別、デプロイメント別、エンドユーザー別、地域別、2024-2032

世界の太陽光発電（PV）市場規模は2023年に1,204.1 TWhに達しました。今後、IMARC Groupは、2032年には4,432.1 TWhに達し、2024～2032年の成長率（CAGR）は15.1%になると予測しています。同市場の主な原動力は、継続的な技術の進歩とコストの低下、政府による支援政策、環境問題への関心の高まり、企業の持続可能性目標、再生可能エネルギーに対する世界の需要の増加、気候関連の混乱に対する回復力などです。

太陽光発電（PV）市場の分析：

市場の成長と規模：世界市場は、再生可能エネルギーと環境持続性に対する世界の需要の高まりにより、著しい成長を遂げています。この市場は急速に拡大しており、中国やインドなど、多額の投資と有利な政府政策に後押しされたアジア太平洋地域が市場規模をリードしています。

主な市場促進要因：主な促進要因としては、インセンティブや政策による政府の支援、効率向上とコスト削減を実現する技術の進歩、環境意識の高まりなどが挙げられます。太陽光発電システムによってもたらされる経済性とエネルギー安全保障も、市場の成長に寄与しています。

技術の進歩：ソーラーパネルの効率、製造プロセス、エネルギー貯蔵ソリューションにおける継続的な技術革新は、市場にとって不可欠です。太陽光発電とスマート技術や人工知能の統合により、機能性と魅力が向上し、太陽エネルギーがより実用的かつ効率的になっています。

産業用途：太陽光発電は、住宅、商業施設、公益事業の各分野で応用されており、中でも公益事業規模が最も大きいです。太陽光発電システムは汎用性が高いため、都市部の屋上設置から農村部の大型地上設置まで、さまざまな環境での利用が可能です。

主な市場動向：重要な動向は分散型エネルギー生産へのシフトであり、屋上太陽光発電システムを採用する住宅および商業用ユーザーの数が増加しています。また、持続可能性への取り組みの一環として、太陽エネルギーへの企業投資も増加しています。

地理的動向：アジア太平洋地域が市場を独占しているが、政府の支援政策や環境意識に後押しされ、北米や欧州でも大きな成長が見られます。ラテンアメリカと中東・アフリカの新興市場は、豊富な太陽光資源とエネルギー需要の増加により、潜在的な可能性を見せています。

競合情勢：市場の特徴は、戦略的パートナーシップ、研究開発、新市場への進出に取り組む主要企業が存在することです。これらの企業は、持続可能性への強いコミットメントを維持しつつ、効率向上とコスト削減のための革新的ソリューションに注力しています。

課題と機会：課題には、太陽エネルギーの断続性、エネルギー貯蔵ソリューションの改善の必要性、従来のエネルギー源との競合などがあります。しかし、こうした課題は、エネルギー貯蔵、系統統合、太陽光発電システムの効率と費用対効果を向上させる新材料や新技術の開発における技術革新の機会をもたらします。

太陽光発電（PV）市場の動向：

政府の政策とインセンティブ

政府の支援は市場を牽引する上で極めて重要な役割を果たしています。このような支援は、税額控除、リベート、固定価格買取制度、太陽光発電設備の初期投資コストを大幅に削減する補助金など、財政的なインセンティブの形で行われることが多いです。また、住宅用や商業用の太陽光発電システムの所有者が余剰電力を送電網に売ることを認めるネットメータリングなどの政策も、太陽光発電システムへの投資の魅力を高めています。さらに、世界各国の政府が意欲的な再生可能エネルギー目標を設定し、二酸化炭素排出量削減のための規制を実施していることも、太陽光発電技術の採用に直接有利に働いています。こうした政策は、住宅や商業施設の利用を促し、企業や電力会社による大規模な投資を誘致しています。

絶え間ない技術の進歩

太陽光発電市場は、絶え間ない技術進歩の影響を大きく受けています。こうした進歩には、ソーラーパネルの効率向上が含まれ、これによって同じ量の太陽光からより多くの電力を発電できるようになります。高効率パネルは、1平方フィートあたりのエネルギー生産量を最大化するため、スペースが限られた地域では特に魅力的です。また、製造プロセスの革新により、ソーラーパネルの製造コストが削減され、より幅広い消費者が購入しやすい価格となっています。さらに、リチウムイオンバッテリーなどのエネルギー貯蔵技術の進歩により、太陽光が利用できないときに使用するための余剰エネルギーの貯蔵が可能になり、太陽エネルギーはより実用的で信頼できるものとなった。

環境意識と気候変動への懸念

個人や組織が二酸化炭素排出量や化石燃料が環境に与える影響を意識するようになるにつれ、再生可能エネルギーへのシフトが進んでいます。太陽光発電システムは、温室効果ガスを排出することなく発電する、クリーンで持続可能な代替手段を提供します。この環境面でのメリットは、環境への影響を軽減したいと考える住宅・商業施設双方の消費者にとって、強い動機付けとなっています。さらに、気候変動の目に見える影響により、政府や国際機関は太陽光発電を含む持続可能なエネルギー・ソリューションへの投資と普及を促しています。このように、気候変動の影響を緩和し、より持続可能なエネルギーの未来へと移行したいという願望は、太陽光発電市場の成長を後押しする重要な要因となっています。

目次

第1章 序文

第2章 調査範囲と調査手法

• 調査目的
• 利害関係者
• データソース
  • 一次情報
  • 二次情報
• 市場推定
  • ボトムアップアプローチ
  • トップダウンアプローチ
• 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

• 概要
• 主要産業動向

第5章 世界の太陽光発電（PV）市場

• 市場概要
• 市場実績
• COVID-19の影響
• 市場予測

第6章 市場内訳：タイプ別

• 薄膜
  • 市場動向
  • 市場予測
• 多結晶シリコン
  • 市場動向
  • 市場予測
• 単結晶シリコン
  • 市場動向
  • 市場予測

第7章 市場内訳：グリッドタイプ別

• オングリッド
  • 市場動向
  • 市場予測
• オフグリッド
  • 市場動向
  • 市場予測

第8章 市場内訳：デプロイメント別

• 地上設置型
  • 市場動向
  • 市場予測
• 屋上設置型ソーラー
  • 市場動向
  • 市場予測

第9章 市場内訳：エンドユーザー別

• 住宅
  • 市場動向
  • 市場予測
• 商業
  • 市場動向
  • 市場予測
• ユーティリティ
  • 市場動向
  • 市場予測

第10章 市場内訳：地域別

• 北米
  • 米国
    • 市場動向
    • 市場予測
  • カナダ
    • 市場動向
    • 市場予測
• アジア太平洋
  • 中国
    • 市場動向
    • 市場予測
  • 日本
    • 市場動向
    • 市場予測
  • インド
    • 市場動向
    • 市場予測
  • 韓国
    • 市場動向
    • 市場予測
  • オーストラリア
    • 市場動向
    • 市場予測
  • インドネシア
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• 欧州
  • ドイツ
    • 市場動向
    • 市場予測
  • フランス
    • 市場動向
    • 市場予測
  • 英国
    • 市場動向
    • 市場予測
  • イタリア
    • 市場動向
    • 市場予測
  • スペイン
    • 市場動向
    • 市場予測
  • ロシア
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• ラテンアメリカ
  • ブラジル
    • 市場動向
    • 市場予測
  • メキシコ
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• 中東・アフリカ地域
  • 市場動向
  • 市場内訳：国別
  • 市場予測

第11章 SWOT分析

• 概要
• 強み
• 弱み
• 機会
• 脅威

第12章 バリューチェーン分析

第13章 ポーターのファイブフォース分析

• 概要
• 買い手の交渉力
• 供給企業の交渉力
• 競合の程度
• 新規参入業者の脅威
• 代替品の脅威

第14章 価格分析

第15章 競合情勢

• 市場構造
• 主要企業
• 主要企業のプロファイル
  • Acciona S.A.
  • Canadian Solar Inc.
  • First Solar Inc.
  • JA Solar Technology Co
  • JinkoSolar Holding Co. Ltd.
  • LONGi Green Energy Technology Co. Ltd.
  • Sharp Corporation
  • Solar Frontier K.K
  • SunPower Corporation
  • Suntech Power Co. Ltd.（Shunfeng Int'l）
  • Tata Power Solar Systems Limited（Tata Power Company Limited）
  • Trina Solar Co. Ltd.

List of Figures

• Figure 1: Global: Solar Photovoltaic Market: Major Drivers and Challenges
• Figure 2: Global: Solar Photovoltaic Market: Volume Trends (in TWh), 2018-2023
• Figure 3: Global: Solar Photovoltaic Market Forecast: Volume Trends (in TWh), 2024-2032
• Figure 4: Global: Solar Photovoltaic Market: Value Trends (in Billion US$), 2018-2023
• Figure 5: Global: Solar Photovoltaic Market Forecast: Value Trends (in Billion US$), 2024-2032
• Figure 6: Global: Solar Photovoltaic Market: Breakup by Type (in %), 2023
• Figure 7: Global: Solar Photovoltaic Market: Breakup by Grid Type (in %), 2023
• Figure 8: Global: Solar Photovoltaic Market: Breakup by Deployment (in %), 2023
• Figure 9: Global: Solar Photovoltaic Market: Breakup by End User (in %), 2023
• Figure 10: Global: Solar Photovoltaic Market: Breakup by Region (in %), 2023
• Figure 11: Global: Solar Photovoltaic (Thin Film) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 12: Global: Solar Photovoltaic (Thin Film) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 13: Global: Solar Photovoltaic (Multi-Si) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 14: Global: Solar Photovoltaic (Multi-Si) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 15: Global: Solar Photovoltaic (Mono-Si) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 16: Global: Solar Photovoltaic (Mono-Si) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 17: Global: Solar Photovoltaic (On-Grid) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 18: Global: Solar Photovoltaic (On-Grid) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 19: Global: Solar Photovoltaic (Off-Grid) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 20: Global: Solar Photovoltaic (Off-Grid) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 21: Global: Solar Photovoltaic (Ground-mounted) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 22: Global: Solar Photovoltaic (Ground-mounted) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 23: Global: Solar Photovoltaic (Rooftop Solar) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 24: Global: Solar Photovoltaic (Rooftop Solar) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 25: Global: Solar Photovoltaic (Residential) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 26: Global: Solar Photovoltaic (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 27: Global: Solar Photovoltaic (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 28: Global: Solar Photovoltaic (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 29: Global: Solar Photovoltaic (Utility) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 30: Global: Solar Photovoltaic (Utility) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 31: North America: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 32: North America: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 33: United States: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 34: United States: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 35: Canada: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 36: Canada: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 37: Asia-Pacific: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 38: Asia-Pacific: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 39: China: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 40: China: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 41: Japan: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 42: Japan: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 43: India: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 44: India: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 45: South Korea: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 46: South Korea: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 47: Australia: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 48: Australia: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 49: Indonesia: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 50: Indonesia: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 51: Others: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 52: Others: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 53: Europe: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 54: Europe: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 55: Germany: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 56: Germany: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 57: France: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 58: France: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 59: United Kingdom: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 60: United Kingdom: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 61: Italy: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 62: Italy: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 63: Spain: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 64: Spain: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 65: Russia: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 66: Russia: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 67: Others: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 68: Others: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 69: Latin America: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 70: Latin America: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 71: Brazil: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 72: Brazil: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 73: Mexico: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 74: Mexico: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 75: Others: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 76: Others: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 77: Middle East and Africa: Solar Photovoltaic Market: Sales Value (in Million US$), 2018 & 2023
• Figure 78: Middle East and Africa: Solar Photovoltaic Market: Breakup by Country (in %), 2023
• Figure 79: Middle East and Africa: Solar Photovoltaic Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 80: Global: Solar Photovoltaic Industry: SWOT Analysis
• Figure 81: Global: Solar Photovoltaic Industry: Value Chain Analysis
• Figure 82: Global: Solar Photovoltaic Industry: Porter's Five Forces Analysis

List of Tables

• Table 1: Global: Solar Photovoltaic Market: Key Industry Highlights, 2023 and 2032
• Table 2: Global: Solar Photovoltaic Market Forecast: Breakup by Type (in Million US$), 2024-2032
• Table 3: Global: Solar Photovoltaic Market Forecast: Breakup by Grid Type (in Million US$), 2024-2032
• Table 4: Global: Solar Photovoltaic Market Forecast: Breakup by Deployment (in Million US$), 2024-2032
• Table 5: Global: Solar Photovoltaic Market Forecast: Breakup by End User (in Million US$), 2024-2032
• Table 6: Global: Solar Photovoltaic Market Forecast: Breakup by Region (in Million US$), 2024-2032
• Table 7: Global: Solar Photovoltaic Market: Competitive Structure
• Table 8: Global: Solar Photovoltaic Market: Key Players

The global solar photovoltaic (PV) market size reached 1,204.1 TWh in 2023. Looking forward, IMARC Group expects the market to reach 4,432.1 TWh by 2032, exhibiting a growth rate (CAGR) of 15.1% during 2024-2032. The market is primarily driven by continual technological advancements and decreasing costs, supportive government policies, growing environmental concerns, corporate sustainability goals, the increasing global demand for renewable energy, and resilience to climate-related disruptions.

Solar Photovoltaic (PV) Market Analysis:

Market Growth and Size: The global market is experiencing significant growth, attributed to the increasing global demand for renewable energy sources and environmental sustainability. This market is expanding rapidly, with Asia Pacific leading in terms of market size, driven by countries, such as China and India with their substantial investments and favorable government policies.

Major Market Drivers: Key drivers include governmental support through incentives and policies, technological advancements improving efficiency and reducing costs, and growing environmental awareness. The economic viability and energy security provided by solar PV systems also contribute to the market's growth.

Technological Advancements: Continuous innovations in solar panel efficiency, manufacturing processes, and energy storage solutions are vital for the market. The integration of solar PV with smart technologies and artificial intelligence is enhancing functionality and appeal, making solar energy more practical and efficient.

Industry Applications: Solar PV finds applications across residential, commercial, and utility sectors, with utility-scale installations being the largest segment. The versatility of solar PV systems allows for their use in various settings, from rooftop installations in urban areas to large ground-mounted arrays in rural regions.

Key Market Trends: A significant trend is the shift towards decentralized energy production, with an increasing number of residential and commercial users adopting rooftop solar systems. The market is also seeing a rise in corporate investments in solar energy as part of sustainability initiatives.

Geographical Trends: While the Asia Pacific region dominates the market, significant growth is also observed in North America and Europe, driven by supportive government policies and environmental awareness. Emerging markets in Latin America and the Middle East and Africa are showing potential due to their abundant solar resources and growing energy needs.

Competitive Landscape: The market is characterized by the presence of key players engaging in strategic partnerships, research and development, and expansion into new markets. These companies are focusing on innovative solutions to enhance efficiency and reduce costs, while also maintaining strong commitments to sustainability.

Challenges and Opportunities: Challenges include the intermittency of solar energy, the need for improved energy storage solutions, and competition with traditional energy sources. However, these challenges present opportunities for innovation in energy storage, grid integration, and the development of new materials and technologies to improve solar PV systems' efficiency and cost-effectiveness.

Solar Photovoltaic (PV) Market Trends:

Government policies and incentives

Governmental support plays a pivotal role in driving the market. This support often comes in the form of financial incentives, such as tax credits, rebates, feed-in tariffs, and subsidies that significantly reduce the initial investment costs for solar installations. Policies such as net metering, which allows residential and commercial solar system owners to sell excess electricity back to the grid, also enhance the attractiveness of investing in solar PV systems. Furthermore, governments around the world are setting ambitious renewable energy targets and implementing regulations to reduce carbon emissions, which directly favor the adoption of solar PV technologies. These policies encourage residential and commercial users and attract large-scale investments from corporations and utility providers.

Continual technological advancements

The solar PV market is significantly influenced by continuous technological advancements. These advancements include improvements in the efficiency of solar panels, which allow for more electricity to be generated from the same amount of sunlight. Higher efficiency panels are particularly attractive in areas with limited space, as they maximize energy production per square foot. Innovations in manufacturing processes have also reduced the cost of producing solar panels, making them more affordable for a broader range of consumers. Additionally, advancements in energy storage technologies, such as lithium-ion batteries, have made solar energy more practical and reliable, as they enable the storage of excess energy for use when sunlight is not available.

Environmental awareness and climate change concerns

As individuals and organizations become more conscious of their carbon footprint and the impact of fossil fuels on the environment, there is an increasing shift towards renewable energy sources. Solar PV systems offer a clean and sustainable alternative, generating electricity without emitting greenhouse gases. This environmental benefit is a strong motivating factor for both residential and commercial consumers looking to reduce their environmental impact. Additionally, the visible effects of climate change are prompting governments and international organizations to invest in and promote sustainable energy solutions, including solar PV. The desire to mitigate the effects of climate change and transition to a more sustainable energy future is thus a significant factor fueling the growth of the solar PV market.

Solar Photovoltaic (PV) Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, grid type, deployment, and end user.

Breakup by Type:

Thin Film

Multi-Si

Mono-Si

The report has provided a detailed breakup and analysis of the market based on the type. This includes thin film, multi-Si, and mono-Si.

Thin-film solar PV panels segment includes various technologies, such as amorphous silicon, cadmium telluride (CdTe), and copper indium gallium selenide (CIGS). Thin-film panels are less efficient compared to crystalline silicon panels but are cheaper to produce and offer better performance in low-light conditions. They are ideal for large-scale utility projects and in applications where weight and space constraints are critical, such as on industrial rooftops and in integrated building photovoltaics. The thin-film segment is favored for its aesthetic appeal in architectural applications and its potential for integration into a variety of materials for building-integrated photovoltaics (BIPV).

On the other hand, multi-crystalline silicon (multi-Si) solar PV panels are manufactured from multiple silicon crystals melted together. These panels are widely recognized for their blue, speckled appearance and are more cost-effective than their mono-Si counterparts. While they have lower efficiency rates compared to mono-Si panels, the manufacturing process of multi-Si is simpler and less energy-intensive, making them a more economically viable option for large-scale solar installations and residential applications.

Furthermore, mono-crystalline silicon (mono-Si) solar panels, made from a single, continuous crystal structure, are known for their high efficiency and sleek black appearance. These panels have the highest efficiency rates among all types of solar panels due to their purity of silicon, making them ideal for applications where space is limited, such as residential solar installations.

Breakup by Grid Type:

On-Grid

Off-Grid

On-grid holds the largest share in the industry

A detailed breakup and analysis of the market based on the grid type have also been provided in the report. This includes on-grid and off-grid. According to the report, on-grid accounted for the largest market share.

On-grid, or grid-tied, solar PV systems are popular due to their simplicity, cost-effectiveness, and the ability to use the grid as a virtual battery, eliminating the need for energy storage in batteries. When these systems produce more electricity than needed, the surplus is fed back into the grid, often earning the producer energy credits or compensation through net metering policies. On-grid systems are ideal for residential, commercial, and industrial applications in regions with a stable grid infrastructure. They are favored for their economic benefits, ease of installation, and the reliability of having a continuous power supply, supplemented by the grid when solar production is insufficient.

On the other hand, the off-grid solar PV segment caters primarily to remote areas where grid connectivity is either unavailable or impractical. These systems are often coupled with energy storage solutions, such as batteries to ensure a continuous power supply, especially during the night or on cloudy days. Off-grid systems are crucial for rural electrification, providing a sustainable and independent source of energy to areas lacking traditional grid infrastructure.

Breakup by Deployment:

Ground-mounted

Rooftop Solar

Ground-mounted represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the deployment. This includes ground-mounted and rooftop solar. According to the report, ground-mounted represented the largest segment.

Ground-mounted solar PV systems represent the largest segment in the market as these systems are installed on open land and can be scaled to a much larger size compared to rooftop systems, making them suitable for industrial and commercial electricity generation. Ground-mounted solar arrays have the advantage of optimal positioning and angling toward the sun, which maximizes energy production. They are often used in rural or remote areas where land availability is not a constraint. This segment benefits from economies of scale, leading to lower costs per watt of electricity generated. The ground-mounted segment is instrumental in driving large-scale solar adoption, contributing significantly to the overall growth of renewable energy capacity worldwide.

On the other hand, rooftop solar PV systems are installations on the roofs of residential, commercial, or industrial buildings. This segment is particularly popular in urban areas where ground space is limited. Rooftop solar allows property owners to utilize unused roof space to generate electricity, leading to reduced energy bills and increased energy independence. These systems are tailored to meet the energy needs of the building they are installed on and can also provide additional benefits, including thermal insulation and reduced heat island effect in urban areas.

Breakup by End User:

Residential

Commercial

Utility

Utility accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the end user. This includes residential, commercial, and utility. According to the report, utility represented the largest segment.

The utility segment is the largest in the solar PV market, predominantly driven by large-scale solar farms and mass electricity generation projects. Utilities invest in vast solar installations to supplement and diversify their energy mix, reduce reliance on fossil fuels, and meet regulatory requirements for renewable energy production. These large-scale projects contribute significantly to national grids, providing renewable energy to a broad customer base. The utility segment benefits from economies of scale, resulting in lower costs per watt and making solar energy more competitive with conventional energy sources.

On the other hand, the commercial segment includes solar PV installations on commercial buildings, businesses, and industrial facilities. Companies adopt solar energy to reduce operational costs, secure energy independence, and enhance their green credentials, aligning with corporate sustainability goals. This segment often utilizes both rooftop and ground-mounted systems, depending on space availability and energy requirements.

Furthermore, the residential segment comprises solar PV systems installed on individual homes and housing complexes. This segment is driven by homeowners seeking to reduce electricity bills, gain energy independence, and contribute to environmental sustainability. Residential solar installations typically involve rooftop systems but can also include small-scale ground-mounted arrays in properties with sufficient land.

Breakup by Region:

Solar Photovoltaic (PV) Market

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Asia Pacific leads the market, accounting for the largest solar photovoltaic (PV) market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The Asia Pacific region represents the largest segment in the market, driven by significant investments and rapid expansion in various countries. This region's growth is fueled by abundant sunlight, government incentives, and a strong push towards renewable energy to meet the increasing power demands of its large and growing population. China, a global leader in solar PV manufacturing, plays a pivotal role in the region's dominance, along with India's ambitious solar targets. The availability of cost-effective labor and materials, coupled with substantial government support in terms of subsidies and favorable policies, makes Asia Pacific a key player in the global solar PV market.

On the contrary, in North America, the solar PV market is primarily driven by the United States, with Canada also contributing significantly. The region's growth is supported by government policies, tax incentives, and a growing awareness of renewable energy benefits. The United States, with its state-specific renewable energy targets and incentives, is a major market for both residential and utility-scale solar installations.

Additionally, Europe's solar PV market is characterized by strong government support, ambitious renewable energy targets, and a high level of environmental awareness among the populace. Countries, including Germany, Spain, and Italy have been at the forefront of solar adoption, driven by favorable feed-in tariffs and subsidies. The European Union's commitment to reducing carbon emissions and transitioning to a sustainable energy future continues to drive the growth of solar PV in this region.

On the other hand, the Latin America solar PV market is emerging, with countries, such as Brazil, Mexico, and Chile leading the way. The region benefits from high solar irradiance and a growing need for sustainable energy solutions. Latin America's market growth is encouraged by government policies, international investments, and a gradual shift from traditional energy sources to renewable energies.

Furthermore, the Middle East and Africa region is experiencing gradual growth in the solar PV market, primarily driven by the need to diversify energy sources away from oil and gas. Countries, such as the United Arab Emirates, Saudi Arabia, and South Africa are investing in large-scale solar projects to capitalize on the abundant solar resources available in the region. Government initiatives, combined with the decreasing costs of solar technology, are key factors propelling the market in this region. Moreover, solar PV offers a viable solution for electrification in remote and rural areas in Africa, where grid connectivity is often a challenge.

Leading Key Players in the Solar Photovoltaic (PV) Industry:

Key players in the solar PV market are actively engaging in various strategies to strengthen their market position and capitalize on the growing demand for renewable energy. These strategies include investing in research and development to enhance efficiency and reduce the costs of solar panels, expanding manufacturing capacities, and exploring new materials and technologies. Many are forming strategic partnerships and collaborations to enter new markets and leverage each other's strengths. Additionally, these companies are focusing on sustainability and corporate social responsibility to improve their brand image and appeal to environmentally conscious consumers.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Acciona S.A.

Canadian Solar Inc.

First Solar Inc.

JA Solar Technology Co

JinkoSolar Holding Co. Ltd.

LONGi Green Energy Technology Co. Ltd.

Sharp Corporation

Solar Frontier K.K

SunPower Corporation

Suntech Power Co. Ltd. (Shunfeng Int'l)

Tata Power Solar Systems Limited (Tata Power Company Limited)

Trina Solar Co. Ltd.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

03 January 2024: LONGi green energy technology Co., Ltd. inked a strategic cooperation agreement with Nio aiming to collaboratively advance the use of photovoltaic-generated clean energy in electric vehicle (EV) charging stations. The partnership is set to establish an industry-leading integrated station for solar energy storage and EV charging, contributing to the realization of carbon peak and carbon neutrality goals in the transportation sector.

30 October 2023: Canadian Solar Inc. announced that it is establishing a 5 GW Solar PV cell production facility at the River Ridge Commerce Center in Jeffersonville, Indiana. The Jeffersonville facility, with an investment of over $800 million and 1,200 high-tech job creations, will produce solar cells for a 5 GW module assembly plant in Mesquite, Texas, with production starting by the end of 2025.

23 June 2023: Acciona S.A. has reached an agreement with Diamond Generating Europe, a subsidiary of Japan's Mitsubishi Corporation, to acquire 34.4% of the capital of Amper Central Solar, the developer of the Amareleja photovoltaic plant in Moura (Portugal).

Key Questions Answered in This Report

• 1. What was the size of the global solar photovoltaic (PV) market in 2023?
• 2. What is the expected growth rate of the global solar photovoltaic (PV) market during 2024-2032?
• 3. What are the key factors driving the global solar photovoltaic (PV) market?
• 4. What has been the impact of COVID-19 on the global solar photovoltaic (PV) market?
• 5. What is the breakup of the global solar photovoltaic (PV) market based on the grid type?
• 6. What is the breakup of the global solar photovoltaic (PV) market based on the deployment?
• 7. What is the breakup of the global solar photovoltaic (PV) market based on end user?
• 8. What are the key regions in the global solar photovoltaic (PV) market?
• 9. Who are the key players/companies in the global solar photovoltaic (PV) market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Solar Photovoltaic (PV) Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Type

• 6.1 Thin Film
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Multi-Si
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast
• 6.3 Mono-Si
  • 6.3.1 Market Trends
  • 6.3.2 Market Forecast

7 Market Breakup by Grid Type

• 7.1 On-Grid
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 Off-Grid
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast

8 Market Breakup by Deployment

• 8.1 Ground-mounted
  • 8.1.1 Market Trends
  • 8.1.2 Market Forecast
• 8.2 Rooftop Solar
  • 8.2.1 Market Trends
  • 8.2.2 Market Forecast

9 Market Breakup by End User

• 9.1 Residential
  • 9.1.1 Market Trends
  • 9.1.2 Market Forecast
• 9.2 Commercial
  • 9.2.1 Market Trends
  • 9.2.2 Market Forecast
• 9.3 Utility
  • 9.3.1 Market Trends
  • 9.3.2 Market Forecast

10 Market Breakup by Region

• 10.1 North America
  • 10.1.1 United States
    • 10.1.1.1 Market Trends
    • 10.1.1.2 Market Forecast
  • 10.1.2 Canada
    • 10.1.2.1 Market Trends
    • 10.1.2.2 Market Forecast
• 10.2 Asia-Pacific
  • 10.2.1 China
    • 10.2.1.1 Market Trends
    • 10.2.1.2 Market Forecast
  • 10.2.2 Japan
    • 10.2.2.1 Market Trends
    • 10.2.2.2 Market Forecast
  • 10.2.3 India
    • 10.2.3.1 Market Trends
    • 10.2.3.2 Market Forecast
  • 10.2.4 South Korea
    • 10.2.4.1 Market Trends
    • 10.2.4.2 Market Forecast
  • 10.2.5 Australia
    • 10.2.5.1 Market Trends
    • 10.2.5.2 Market Forecast
  • 10.2.6 Indonesia
    • 10.2.6.1 Market Trends
    • 10.2.6.2 Market Forecast
  • 10.2.7 Others
    • 10.2.7.1 Market Trends
    • 10.2.7.2 Market Forecast
• 10.3 Europe
  • 10.3.1 Germany
    • 10.3.1.1 Market Trends
    • 10.3.1.2 Market Forecast
  • 10.3.2 France
    • 10.3.2.1 Market Trends
    • 10.3.2.2 Market Forecast
  • 10.3.3 United Kingdom
    • 10.3.3.1 Market Trends
    • 10.3.3.2 Market Forecast
  • 10.3.4 Italy
    • 10.3.4.1 Market Trends
    • 10.3.4.2 Market Forecast
  • 10.3.5 Spain
    • 10.3.5.1 Market Trends
    • 10.3.5.2 Market Forecast
  • 10.3.6 Russia
    • 10.3.6.1 Market Trends
    • 10.3.6.2 Market Forecast
  • 10.3.7 Others
    • 10.3.7.1 Market Trends
    • 10.3.7.2 Market Forecast
• 10.4 Latin America
  • 10.4.1 Brazil
    • 10.4.1.1 Market Trends
    • 10.4.1.2 Market Forecast
  • 10.4.2 Mexico
    • 10.4.2.1 Market Trends
    • 10.4.2.2 Market Forecast
  • 10.4.3 Others
    • 10.4.3.1 Market Trends
    • 10.4.3.2 Market Forecast
• 10.5 Middle East and Africa
  • 10.5.1 Market Trends
  • 10.5.2 Market Breakup by Country
  • 10.5.3 Market Forecast

11 SWOT Analysis

• 11.1 Overview
• 11.2 Strengths
• 11.3 Weaknesses
• 11.4 Opportunities
• 11.5 Threats

12 Value Chain Analysis

13 Porters Five Forces Analysis

• 13.1 Overview
• 13.2 Bargaining Power of Buyers
• 13.3 Bargaining Power of Suppliers
• 13.4 Degree of Competition
• 13.5 Threat of New Entrants
• 13.6 Threat of Substitutes

14 Price Analysis

15 Competitive Landscape

• 15.1 Market Structure
• 15.2 Key Players
• 15.3 Profiles of Key Players
  • 15.3.1 Acciona S.A.
    • 15.3.1.1 Company Overview
    • 15.3.1.2 Product Portfolio
  • 15.3.2 Canadian Solar Inc.
    • 15.3.2.1 Company Overview
    • 15.3.2.2 Product Portfolio
    • 15.3.2.3 Financials
    • 15.3.2.4 SWOT Analysis
  • 15.3.3 First Solar Inc.
    • 15.3.3.1 Company Overview
    • 15.3.3.2 Product Portfolio
    • 15.3.3.3 Financials
    • 15.3.3.4 SWOT Analysis
  • 15.3.4 JA Solar Technology Co
    • 15.3.4.1 Company Overview
    • 15.3.4.2 Product Portfolio
  • 15.3.5 JinkoSolar Holding Co. Ltd.
    • 15.3.5.1 Company Overview
    • 15.3.5.2 Product Portfolio
  • 15.3.6 LONGi Green Energy Technology Co. Ltd.
    • 15.3.6.1 Company Overview
    • 15.3.6.2 Product Portfolio
    • 15.3.6.3 Financials
  • 15.3.7 Sharp Corporation
    • 15.3.7.1 Company Overview
    • 15.3.7.2 Product Portfolio
    • 15.3.7.3 Financials
    • 15.3.7.4 SWOT Analysis
  • 15.3.8 Solar Frontier K.K
    • 15.3.8.1 Company Overview
    • 15.3.8.2 Product Portfolio
  • 15.3.9 SunPower Corporation
    • 15.3.9.1 Company Overview
    • 15.3.9.2 Product Portfolio
    • 15.3.9.3 Financials
    • 15.3.9.4 SWOT Analysis
  • 15.3.10 Suntech Power Co. Ltd. (Shunfeng Int'l)
    • 15.3.10.1 Company Overview
    • 15.3.10.2 Product Portfolio
  • 15.3.11 Tata Power Solar Systems Limited (Tata Power Company Limited)
    • 15.3.11.1 Company Overview
    • 15.3.11.2 Product Portfolio
  • 15.3.12 Trina Solar Co. Ltd.
    • 15.3.12.1 Company Overview
    • 15.3.12.2 Product Portfolio