The Solar Photovoltaic Market research report provides a detailed analysis of diverse segments across 6 regions and 25 countries including Type (Monocrystalline wafer, Multicrystalline wafer/Polycrystalline wafer), Application (Energy, Residential, Commercial, Industrial, Others), Substances (Thin film, Multi-Si, Mono-Si), End-User (Residential, Commercial).
Productivity, technology enablement, and sustainability remain the key market-driving forces in the global Solar Photovoltaic industry landscape. Companies that invest in that supply chain and operational resiliency are poised to gain a competitive edge over other market players. The global energy investments are set to increase from around $1,652 Billion in 2024 to $2845 Billion in 2040. As the world is making steady progress towards net zero, energy security, affordability, and industrial competitiveness remain key focus areas of most Solar Photovoltaic companies. The Solar Photovoltaic demand trajectory varies based on multiple scenarios, from macroeconomic conditions, regulatory support, investment scenarios, and the global landscape. Decision makers across the Solar Photovoltaic industry value chain formulating long-term transition strategies with a diverse range of future scenarios are likely to stay ahead of the competition curve.
In the solar photovoltaic market, there's a trend towards increased deployment of PV systems for utility-scale and distributed generation. Innovations in bifacial modules, floating solar arrays, and solar tracking systems are prevalent trends. Additionally, the adoption of solar PV for grid integration, electrification projects, and renewable energy targets is gaining traction. Moreover, advancements in module efficiency, balance of system components, and cost reduction measures are shaping the market.
Key drivers propelling the solar photovoltaic market include the declining cost of solar panels, supportive government incentives, and climate change mitigation efforts. Solar PV offers advantages such as scalable energy production, carbon emissions reduction, and job creation, driving its adoption in diverse applications globally. Moreover, technological advancements in PV materials, manufacturing processes, and integration with energy storage contribute significantly to market growth.
Opportunities in the solar photovoltaic market lie in expanding solar capacity and promoting innovative PV solutions. Collaboration among solar PV manufacturers, project developers, and policymakers offers significant growth prospects. Moreover, investing in research and development for higher efficiency solar cells, grid-friendly PV systems, and sustainable end-of-life PV recycling methods can unlock new avenues for market expansion. Exploring emerging markets with increasing energy demand and promoting the benefits of solar PV for clean and sustainable electricity production can further drive market growth and facilitate widespread adoption.
Solar Photovoltaic (PV) technology converts sunlight directly into electricity using semiconductor materials in solar cells. Solar PV systems harness solar energy to generate electricity for residential, commercial, or utility-scale applications, contributing to clean and renewable energy production.
By Type
By Application
By Substances
By End-User
By Region
• Lanco Infratech Limited
• LDK Solar Co., Ltd.
• MEMC Electronic Materials, Inc.
• Nexolon Co., Ltd.
• REC Group
• SolarWorld Industries GmbH
• Targray
*List not exhaustive
• Deepen your industry insights and navigate uncertainties for strategy formulation, CAPEX, and Operational decisions
• Gain access to detailed insights on the Solar Photovoltaic market, encompassing current market size, growth trends, and forecasts till 2030.
• Access detailed competitor analysis, enabling competitive advantage through a thorough understanding of market players, strategies, and potential differentiation opportunities
• Stay ahead of the curve with insights on technological advancements, innovations, and upcoming trends
• Identify lucrative investment avenues and expansion opportunities within the Solar Photovoltaic industry, guided by robust, data-backed analysis.
• Understand regional and global markets through country-wise analysis, regional market potential, regulatory nuances, and dynamics
• Execute strategies with confidence and speed through information, analytics, and insights on the industry value chain
• Corporate leaders, strategists, financial experts, shareholders, asset managers, and governmental representatives can make long-term planning scenarios and build an integrated and timely understanding of market dynamics
• Benefit from tailored solutions and expert consultation based on report insights, providing personalized strategies aligned with specific business needs.
TABLE OF CONTENTS
1 INTRODUCTION TO 2024 Solar Photovoltaic MARKETS
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 RESEARCH METHODOLOGY
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 EXECUTIVE SUMMARY
3.1 Global Solar Photovoltaic Market Size Outlook, $ Million, 2021 to 2030
3.2 Solar Photovoltaic Market Outlook by Type, $ Million, 2021 to 2030
3.3 Solar Photovoltaic Market Outlook by Product, $ Million, 2021 to 2030
3.4 Solar Photovoltaic Market Outlook by Application, $ Million, 2021 to 2030
3.5 Solar Photovoltaic Market Outlook by Key Countries, $ Million, 2021 to 2030
4 MARKET DYNAMICS
4.1 Key Driving Forces of Solar Photovoltaic Industry
4.2 Key Market Trends in Solar Photovoltaic Industry
4.3 Potential Opportunities in Solar Photovoltaic Industry
4.4 Key Challenges in Solar Photovoltaic Industry
5 MARKET FACTOR ANALYSIS
5.1 Competitive Landscape
5.1.1 Global Solar Photovoltaic Market Share by Company
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 GROWTH OUTLOOK ACROSS SCENARIOS
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 GLOBAL Solar Photovoltaic MARKET OUTLOOK BY SEGMENTS
7.1 Solar Photovoltaic Market Outlook by Segments
Type
- Monocrystalline wafer
- Multicrystalline wafer/Polycrystalline wafer
Application
- Energy
- Industrial
- Commercial
- Residential
- Others
Substances
- Thin film
- Multi-Si
- Mono-Si
End-User
- Residential
- Commercial
8 NORTH AMERICA Solar Photovoltaic MARKET ANALYSIS AND OUTLOOK TO 2030
8.1 Introduction to North America Solar Photovoltaic Markets in 2024
8.2 North America Solar Photovoltaic Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Solar Photovoltaic Market size Outlook by Segments, 2021-2030
Type
- Monocrystalline wafer
- Multicrystalline wafer/Polycrystalline wafer
Application
- Energy
- Industrial
- Commercial
- Residential
- Others
Substances
- Thin film
- Multi-Si
- Mono-Si
End-User
- Residential
- Commercial
9 EUROPE Solar Photovoltaic MARKET ANALYSIS AND OUTLOOK TO 2030
9.1 Introduction to Europe Solar Photovoltaic Markets in 2024
9.2 Europe Solar Photovoltaic Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Solar Photovoltaic Market size Outlook by Segments, 2021-2030
Type
- Monocrystalline wafer
- Multicrystalline wafer/Polycrystalline wafer
Application
- Energy
- Industrial
- Commercial
- Residential
- Others
Substances
- Thin film
- Multi-Si
- Mono-Si
End-User
- Residential
- Commercial
10 ASIA PACIFIC Solar Photovoltaic MARKET ANALYSIS AND OUTLOOK TO 2030
10.1 Introduction to Asia Pacific Solar Photovoltaic Markets in 2024
10.2 Asia Pacific Solar Photovoltaic Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Solar Photovoltaic Market size Outlook by Segments, 2021-2030
Type
- Monocrystalline wafer
- Multicrystalline wafer/Polycrystalline wafer
Application
- Energy
- Industrial
- Commercial
- Residential
- Others
Substances
- Thin film
- Multi-Si
- Mono-Si
End-User
- Residential
- Commercial
11 SOUTH AMERICA Solar Photovoltaic MARKET ANALYSIS AND OUTLOOK TO 2030
11.1 Introduction to South America Solar Photovoltaic Markets in 2024
11.2 South America Solar Photovoltaic Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Solar Photovoltaic Market size Outlook by Segments, 2021-2030
Type
- Monocrystalline wafer
- Multicrystalline wafer/Polycrystalline wafer
Application
- Energy
- Industrial
- Commercial
- Residential
- Others
Substances
- Thin film
- Multi-Si
- Mono-Si
End-User
- Residential
- Commercial
12 MIDDLE EAST AND AFRICA Solar Photovoltaic MARKET ANALYSIS AND OUTLOOK TO 2030
12.1 Introduction to Middle East and Africa Solar Photovoltaic Markets in 2024
12.2 Middle East and Africa Solar Photovoltaic Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Solar Photovoltaic Market size Outlook by Segments, 2021-2030
Type
- Monocrystalline wafer
- Multicrystalline wafer/Polycrystalline wafer
Application
- Energy
- Industrial
- Commercial
- Residential
- Others
Substances
- Thin film
- Multi-Si
- Mono-Si
End-User
- Residential
- Commercial
13 COMPANY PROFILES
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
- Lanco Infratech Limited
- LDK Solar Co., Ltd.
- MEMC Electronic Materials, Inc.
- Nexolon Co., Ltd.
- REC Group
- SolarWorld Industries GmbH
- Targray
14 APPENDIX
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
Solar Photovoltaic (PV) technology converts sunlight directly into electricity using semiconductor materials in solar cells. Solar PV systems harness solar energy to generate electricity for residential, commercial, or utility-scale applications, contributing to clean and renewable energy production.
By Type
By Application
By Substances
By End-User
By Region
The global Solar Photovoltaic Market is one of the lucrative growth markets, poised to register a 9.1% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Lanco Infratech Limited , LDK Solar Co., Ltd. , MEMC Electronic Materials, Inc. , Nexolon Co., Ltd. , REC Group , SolarWorld Industries GmbH , Targray,
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume