Solar PV System Market Size, Share, Trends, Growth Outlook

The global Solar PV System Market Size is estimated to increase at a CAGR of 9.1% during the forecast period from 2024 to 2030.

 

The Solar PV System Market research report provides a detailed analysis of diverse segments across 6 regions and 25 countries including Type (Grid-Tied, Grid/Hybrid, Off-Grid), Application (Residential, Commercial, Utility Scale), Mounting Systems (Ground Mounted, Roof Mounted, Solar Trackers, Fixed Racks).

 

An Introduction to Solar PV System Markets in 2024

Productivity, technology enablement, and sustainability remain the key market-driving forces in the global Solar PV System 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 PV System companies. The Solar PV System demand trajectory varies based on multiple scenarios, from macroeconomic conditions, regulatory support, investment scenarios, and the global landscape. Decision makers across the Solar PV System industry value chain formulating long-term transition strategies with a diverse range of future scenarios are likely to stay ahead of the competition curve.

Solar PV System Market Trends:

The solar photovoltaic (PV) system market is experiencing continuous growth due to declining costs, technological advancements, and increasing adoption of solar energy worldwide. Key trends include innovations in PV module efficiency, developments in energy storage solutions for grid integration, and the integration of smart technologies for improved system performance. Moreover, there's a trend towards larger-scale utility projects and the growth of residential and commercial rooftop installations.

Solar PV System Market Drivers:

Key drivers propelling the solar PV system market include the increasing global focus on clean energy, the declining cost of solar technology, and supportive government policies and incentives promoting renewable energy adoption. Solar PV systems offer advantages such as reduced carbon footprint, energy independence, and cost savings, driving their widespread adoption. Additionally, advancements in energy storage solutions and grid integration technologies contribute significantly to market growth.

Solar PV System Market Opportunities:

Opportunities in the solar PV system market lie in further reducing installation costs, enhancing energy storage capabilities, and expanding solar PV adoption in emerging markets. Collaboration among solar manufacturers, energy developers, and utilities can drive innovation and cost optimization. Exploring new applications like community solar projects, enhancing system efficiency through technology upgrades, and promoting solar as a reliable and scalable energy source can unlock new avenues for market expansion.

 

Solar PV System Market Segmentation

A Solar Photovoltaic (PV) System includes solar panels, inverters, and mounting hardware used to convert sunlight into electricity. These systems are deployed in residential, commercial, and utility-scale settings, contributing to clean energy generation.

Type

• Grid-Tied

• Grid/Hybrid

• Off-Grid

 

Application

• Residential

• Commercial

• Utility Scale

 

Mounting System

• Ground Mounted

• Roof Mounted

• Solar Trackers

• Fixed Racks

 

By Region

• North America (United States, Canada, Mexico)

• Europe (Germany, France, United Kingdom, Spain, Italy, Others)

• Asia Pacific (China, India, Japan, South Korea, Australia, Others)

• Latin America (Brazil, Argentina, Others)

• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Solar PV System Market Companies

• Canadian Solar Inc.

• First Solar, Inc.

• JA Solar Holdings Co., Ltd.

• JinkoSolar Holding Co., Ltd.

• Mitsubishi Electric Corporation

• Renesola Ltd.

• Sharp Corporation

• SolarWorld Industries GmbH

• SunPower Corporation

• Suntech Power Holdings Co., Ltd.

• Trina Solar Co., Ltd.

• Yingli Green Energy Holding Company Limited

 

Reasons to Buy the Solar PV System Market Study

• Deepen your industry insights and navigate uncertainties for strategy formulation, CAPEX, and Operational decisions

• Gain access to detailed insights on the Solar PV System 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 PV System 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 PV System 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 PV System Market Size Outlook, $ Million, 2021 to 2030
3.2 Solar PV System Market Outlook by Type, $ Million, 2021 to 2030
3.3 Solar PV System Market Outlook by Product, $ Million, 2021 to 2030
3.4 Solar PV System Market Outlook by Application, $ Million, 2021 to 2030
3.5 Solar PV System Market Outlook by Key Countries, $ Million, 2021 to 2030

4 MARKET DYNAMICS
4.1 Key Driving Forces of Solar PV System Industry
4.2 Key Market Trends in Solar PV System Industry
4.3 Potential Opportunities in Solar PV System Industry
4.4 Key Challenges in Solar PV System Industry
5 MARKET FACTOR ANALYSIS
5.1 Competitive Landscape
5.1.1 Global Solar PV System 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 PV System MARKET OUTLOOK BY SEGMENTS
7.1 Solar PV System Market Outlook by Segments
Type
- Grid-Tied
- Grid/Hybrid
- Off-Grid

Application
- Residential
- Commercial
- Utility Scale

Mounting System
- Ground Mounted
- Roof Mounted
- Solar Trackers
- Fixed Racks


8 NORTH AMERICA Solar PV System MARKET ANALYSIS AND OUTLOOK TO 2030
8.1 Introduction to North America Solar PV System Markets in 2024
8.2 North America Solar PV System 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 PV System Market size Outlook by Segments, 2021-2030
Type
- Grid-Tied
- Grid/Hybrid
- Off-Grid

Application
- Residential
- Commercial
- Utility Scale

Mounting System
- Ground Mounted
- Roof Mounted
- Solar Trackers
- Fixed Racks


9 EUROPE Solar PV System MARKET ANALYSIS AND OUTLOOK TO 2030
9.1 Introduction to Europe Solar PV System Markets in 2024
9.2 Europe Solar PV System 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 PV System Market size Outlook by Segments, 2021-2030
Type
- Grid-Tied
- Grid/Hybrid
- Off-Grid

Application
- Residential
- Commercial
- Utility Scale

Mounting System
- Ground Mounted
- Roof Mounted
- Solar Trackers
- Fixed Racks


10 ASIA PACIFIC Solar PV System MARKET ANALYSIS AND OUTLOOK TO 2030
10.1 Introduction to Asia Pacific Solar PV System Markets in 2024
10.2 Asia Pacific Solar PV System 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 PV System Market size Outlook by Segments, 2021-2030
Type
- Grid-Tied
- Grid/Hybrid
- Off-Grid

Application
- Residential
- Commercial
- Utility Scale

Mounting System
- Ground Mounted
- Roof Mounted
- Solar Trackers
- Fixed Racks


11 SOUTH AMERICA Solar PV System MARKET ANALYSIS AND OUTLOOK TO 2030
11.1 Introduction to South America Solar PV System Markets in 2024
11.2 South America Solar PV System 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 PV System Market size Outlook by Segments, 2021-2030
Type
- Grid-Tied
- Grid/Hybrid
- Off-Grid

Application
- Residential
- Commercial
- Utility Scale

Mounting System
- Ground Mounted
- Roof Mounted
- Solar Trackers
- Fixed Racks


12 MIDDLE EAST AND AFRICA Solar PV System MARKET ANALYSIS AND OUTLOOK TO 2030
12.1 Introduction to Middle East and Africa Solar PV System Markets in 2024
12.2 Middle East and Africa Solar PV System 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 PV System Market size Outlook by Segments, 2021-2030
Type
- Grid-Tied
- Grid/Hybrid
- Off-Grid

Application
- Residential
- Commercial
- Utility Scale

Mounting System
- Ground Mounted
- Roof Mounted
- Solar Trackers
- Fixed Racks


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
- Canadian Solar Inc.
- First Solar, Inc.
- JA Solar Holdings Co., Ltd.
- JinkoSolar Holding Co., Ltd.
- Mitsubishi Electric Corporation
- Renesola Ltd.
- Sharp Corporation
- SolarWorld Industries GmbH
- SunPower Corporation
- Suntech Power Holdings Co., Ltd.
- Trina Solar Co., Ltd.
- Yingli Green Energy Holding Company Limited


14 APPENDIX
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

Solar PV System Market Segmentation

A Solar Photovoltaic (PV) System includes solar panels, inverters, and mounting hardware used to convert sunlight into electricity. These systems are deployed in residential, commercial, and utility-scale settings, contributing to clean energy generation.

Type

• Grid-Tied

• Grid/Hybrid

• Off-Grid

 

Application

• Residential

• Commercial

• Utility Scale

 

Mounting System

• Ground Mounted

• Roof Mounted

• Solar Trackers

• Fixed Racks

 

By Region

• North America (United States, Canada, Mexico)

• Europe (Germany, France, United Kingdom, Spain, Italy, Others)

• Asia Pacific (China, India, Japan, South Korea, Australia, Others)

• Latin America (Brazil, Argentina, Others)

• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)