Global Solar Photovoltaic (PV) Panels Market, By Technology (Thin Film, Crystalline Silicon, Others), Grid Type (On Grid, Off Grid), End-Use (Residential, Non-Residential), Deployment (Ground Mounted, Rooftop Solar), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Solar Photovoltaic (PV) Panels Market
Solar photovoltaic (PV) panels market will reach at an estimated value of USD 173.58 billion and grow at a rate of 4.40% for the forecast period of 2021 to 2028. Increasing deployment of renewable energy for electricity generation along with abundant availability of solar energy during the day is a vital factor driving the growth of solar photovoltaic (PV) market.
Solar photovoltaic panels are the type of silicon panels capable of capturing photons or sunlight and converting them into electricity. Rooftop solar PV systems are distributed power generation systems, that helps to meet buildings energy needs by provide electricity within an existing distribution network. The rooftop PV (RTPV) systems are very small in size and are installed on rooftop residential and commercial buildings.
Growing demand for rooftop solar among residential applications is the vital factor escalating the market growth, also rising demand across the private and public sectors for green electricity, rising decline in the cost of rooftop solar PVs, and robust federal policies such as solar investment tax credit, rising awareness for the use of solar energy across the globe, increasing shift toward clean, reliable, affordable electricity and rising rapid proliferation of solar panels mounted on the roofs of homes and businesses are the major factors among others driving the solar photovoltaic (PV) panels market. Moreover, rise in the price of fossil fuels, rising research and development activities in the market and rising technological advancements and increasing modernization in the product will further create new opportunities for the solar photovoltaic (PV) panels market in the forecast period of 2021- 2028.
However, increase in grid connection issues and interconnection delays and rising insufficient smart grid infrastructure are the major factors among others acting as restraints, and will further challenge the growth of solar photovoltaic (PV) panels market in the forecast period mentioned above.
This solar photovoltaic (PV) panels market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on solar photovoltaic (PV) panels market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Solar Photovoltaic (PV) Panels Market Scope and Market Size
Solar photovoltaic (PV) panels market is segmented on the basis of technology, grid type, end-use and deployment. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on technology, the solar photovoltaic (PV) panels market is segmented into thin film, crystalline silicon and others.
- On the basis of grid type, the solar photovoltaic (PV) panels market is segmented into on grid and off grid.
- Based on end-use, the solar photovoltaic (PV) panels market is segmented into residential and non-residential.
- The solar photovoltaic (PV) panels market is also segmented on the basis of deployment into ground mounted and rooftop solar.
Solar Photovoltaic (PV) Panels Market Country Level Analysis
Solar photovoltaic (PV) panels market is analysed and market size, volume information is provided by country, technology, grid type, end-use and deployment as referenced above.
The countries covered in the solar photovoltaic (PV) panels market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the solar photovoltaic (PV) panels market due to rising favorable government policies providing financial incentives and subsidies to solar PV projects along with the presence of large market players in this region. Europe is the expected regions in terms of growth in solar photovoltaic (PV) panels market due to rising trend of generating power through renewable energy and increasing stringent regulatory reforms regarding clean energy deployment in this region. North America is also expected to grow in terms of growth in solar photovoltaic (PV) panels market due to growing requirement for clean fuel power generation along with the surging capacity of residential solar in this region.
The country section of the solar photovoltaic (PV) panels market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Solar Photovoltaic (PV) Panels Market Share Analysis
Solar photovoltaic (PV) panels market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to solar photovoltaic (PV) panels market.
The major players covered in the solar photovoltaic (PV) panels market report are JA SOLAR Technology Co.,Ltd., SunPower Corporation, AGC Glass Europe, Nippon Sheet Glass Co., Ltd., HeckerGlastechnik GmbH & Co. KG, Euroglas, Emmvee Toughened Glass Private Limited, F solar GmbH, Taiwan Glass Ind. Corp, Xinyi Solar Holdings Ltd, Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Flat Glass Co., Ltd, Guangdong Golden Glass Technologies, Henan HuameiCinda Industrial Co., Ltd. and Interfloat Corporation among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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