Product Code: r7360
“Photovoltaic Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on photovoltaic market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for photovoltaic ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The photovoltaic market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Component: Modules; Inverters; Balance Of Systems (BOS)
- 2) By Cell Type: Full-Cell PV Modules; Half-Cell PV Modules
- 3) By Installation Type: Ground-Mounted; Building-Integrated Photovoltaics (BIPV); Floating PV
- 4) By Technology: Thin Film; Mono-Si; Multi-Si
- 5) By Application: Residential; Commercial And Industrial; Utilities
- Companies Mentioned: JinkoSolar; JA Solar Technology Co. Ltd.; Trina Solar Co. Ltd.; LONGi Green Energy Technology Co. Ltd.; Canadian Solar Inc.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the photovoltaic market are JinkoSolar, JA Solar Technology Co. Ltd., Trina Solar Co. Ltd., LONGi Green Energy Technology Co. Ltd., Canadian Solar Inc., First Solar Inc., Hanwha Qcells, Wuxi Suntech Power Co. Ltd., Sharp Corporation, Mitsubishi Electric Corporation, GCL System Integration Technology Co. Ltd., Risen Energy Co. LTD., Shunfeng International Clean Energy Ltd, Acciona S.A., SunPower Corporation., and Waaree Energies Ltd.
The global photovoltaic market is expected to grow from $82.75 billion in 2022 to $91.06 billion in 2023 at a compound annual growth rate (CAGR) of 10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The photovoltaic market is expected to reach $127.80 billion in 2027 at a CAGR of 8.8%.
The photovoltaic market consists of sales of perovskite solar cells, flexible photovoltaics, and tandem. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Photovoltaic refer to direct conversion of light into electrical power using semiconducting materials, such as silicon. Photovoltaic technology is a key component of the transition to a more sustainable and renewable energy future. It is used to convert solar energy directly into electrical power without burning non-renewable carbon fuels like coal, oil, or natural gas.
Asia-Pacific was the largest region in the Photovoltaic market in 2022. The regions covered in photovoltaic report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of photovoltaics are modules, inverters, and the balance of systems (bos). A module is a separate component combined with others to create other things. The various cell types include full-cell PV modules and half-cell PV modules. The various installation types include ground-mounted, building-integrated photovoltaics (BPPV), and floating PV, that includes techniques such as thin film, mono-si, and multi-si. These are used in various applications such as residential, commercial, and industrial, utilities.
The rise in demand for renewable energy is expected to propel the growth of the photovoltaic market going forward. Renewable energy is defined as energy produced from natural sources that are regenerated at a faster rate than it is consumed. Photovoltaic systems are made up of solar panels, which are commonly built of silicon-based materials, and an inverter, which converts the direct current electricity produced by the solar panels into alternating current electricity that may be utilized to power homes and businesses, as a result, rise in demand for renewable energy increases the demand for photovoltaic market. For instance, in September 2022, according to the International Energy Agency, a France -based intergovernmental organization, Wind and solar PV technologies together accounted for about 90% of the increase in renewable electricity output in 2021, a record 522 TWh increase. And, a 0.4 % point growth in 2021, the proportion of renewable energy in the world's electrical generation increased to 28.7%. Therefore, the rise in demand for renewable energy is driving the growth of the photovoltaic market.
Technological advancements are a key trend gaining popularity in the photovoltaic market. Major companies operating in the photovoltaic market are adopting new technologies to sustain their position in the market. For instance, in September 2021, PZL Sedziszow, a Poland-based auto parts manufacturer launched modern photovoltaic panels for the Avia Solar brand with silicon-monocrystalline technology. These panels produced are made of silicon with an efficiency ranging from 17 to 22% and are characterized by high efficiency and low loss of efficiency in relation to temperature.
In September 2022, Enverus, a US-based company that specializes in energy-related software-as-a-service items, acquired RatedPower for an undisclosed sum. This acquisition broadens, diversifies, and improves Enveru's portfolio in terms of value and a growing range of solar industry solutions, as well as international geographical coverage. RatedPower is a Spain-based solar energy company that operates in the photovoltaic market.
The countries covered in the photovoltaic market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The photovoltaic market research report is one of a series of new reports from The Business Research Company that provides photovoltaic market statistics, including photovoltaic industry global market size, regional shares, competitors with a photovoltaic market share, detailed photovoltaic market segments, market trends, and opportunities, and any further data you may need to thrive in the photovoltaic industry. This photovoltaic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Photovoltaic Market Characteristics
3. Photovoltaic Market Trends And Strategies
4. Photovoltaic Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Photovoltaic Market
- 4.2. Ukraine-Russia War Impact On Photovoltaic Market
- 4.3. Impact Of High Inflation On Photovoltaic Market
5. Photovoltaic Market Size And Growth
- 5.1. Global Photovoltaic Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Photovoltaic Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Photovoltaic Market Segmentation
- 6.1. Global Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Modules
- Inverters
- Balance Of Systems (BOS)
- 6.2. Global Photovoltaic Market, Segmentation By Cell Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Full-Cell PV Modules
- Half-Cell PV Modules
- 6.3. Global Photovoltaic Market, Segmentation By Installation Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Ground-Mounted
- Building-Integrated Photovoltaics (BIPV)
- Floating PV
- 6.4. Global Photovoltaic Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Thin Film
- Mono-Si
- Multi-Si
- 6.5. Global Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Residential
- Commercial And Industrial
- Utilities
7. Photovoltaic Market Regional And Country Analysis
- 7.1. Global Photovoltaic Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Photovoltaic Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Photovoltaic Market
- 8.1. Asia-Pacific Photovoltaic Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Photovoltaic Market
- 9.1. China Photovoltaic Market Overview
- 9.2. China Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Photovoltaic Market
- 10.1. India Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Photovoltaic Market
- 11.1. Japan Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Photovoltaic Market
- 12.1. Australia Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Photovoltaic Market
- 13.1. Indonesia Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Photovoltaic Market
- 14.1. South Korea Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Photovoltaic Market
- 15.1. Western Europe Photovoltaic Market Overview
- 15.2. Western Europe Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Photovoltaic Market
- 16.1. UK Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Photovoltaic Market
- 17.1. Germany Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Photovoltaic Market
- 18.1. France Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Photovoltaic Market
- 19.1. Eastern Europe Photovoltaic Market Overview
- 19.2. Eastern Europe Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Photovoltaic Market
- 20.1. Russia Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Photovoltaic Market
- 21.1. North America Photovoltaic Market Overview
- 21.2. North America Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Photovoltaic Market
- 22.1. USA Photovoltaic Market Overview
- 22.2. USA Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Photovoltaic Market
- 23.1. South America Photovoltaic Market Overview
- 23.2. South America Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Photovoltaic Market
- 24.1. Brazil Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Photovoltaic Market
- 25.1. Middle East Photovoltaic Market Overview
- 25.2. Middle East Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Photovoltaic Market
- 26.1. Africa Photovoltaic Market Overview
- 26.2. Africa Photovoltaic Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Photovoltaic Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Photovoltaic Market Competitive Landscape And Company Profiles
- 27.1. Photovoltaic Market Competitive Landscape
- 27.2. Photovoltaic Market Company Profiles
- 27.2.1. JinkoSolar
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. JA Solar Technology Co. Ltd.
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Trina Solar Co. Ltd.
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. LONGi Green Energy Technology Co. Ltd.
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Canadian Solar Inc.
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Photovoltaic Market
29. Photovoltaic Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer