Photovoltaic Market by Component (Modules, Inverters, BOS), Material (Silicon, Compounds), Installation Type (Ground Mounted, BIPV, Floating PV), Application (Residential, Commercial & Industrial, Utilities), Cell Type and Region - Global Forecast to 2028
The photovoltaic market is projected to grow from USD 96.5 billion in 2023 and is projected to reach USD 155.5 billion by 2028; it is expected to grow at a CAGR of 10.0 % from 2023 to 2028.
The rising number of solar installations attributed to government-led incentives and schemes, growth in the adoption of PV systems for residential applications, decreasing cost of PV systems and energy storage devices is expected to fuel the growth of the photovoltaic market. However, issues related to land acquisition for deployment of solar projects is a prominent factor limiting the growth of the photovoltaic market.
“Ground-mounted PV systems to hold largest share of photovoltaic market during the forecast period.”
The PV market for ground-mounted systems held the largest market share in 2022 and is expected to retain its dominant position throughout the forecast period. With an increasing number of utility-scale projects worldwide, the ground-mounted PV systems market is expected to witness significant growth during the forecast period. The ground-mounted segment dominates the solar photovoltaic market more than the rooftop segment due to higher capacity installations in the ground-mounted segment worldwide. The higher demand for utility-scale is expected to continue during the forecast period, with strong demand from China and many emerging markets around the world installing notable amounts that are mostly ground-mounted.
“Market for half-cell PV module segment is expected to witness higher growth during the forecast period”
The half-cell PV module segment is expected to witness significant growth in the photovoltaic market during the forecast period. Half-cut solar cells have a higher power generating capacity than normal solar cells. As a result of the increased power output, the number of solar cells required for installation is reduced, conserving space. For residential, commercial, and industrial locations with limited space, half-cut solar cell technology has proven to be a viable option. The half-cell modules have outstanding durability and long-life performance. Hence, half-cell type panels are more durable and less prone to cracking over long periods. Additionally, the half-cut solar panels have high shade tolerance, unlike the conventional models. These factors are likely to result in higher adoption of half-cell PV modules during the forecast period.
“Market for residential application to hold a significant share during the forecast period ”
Residential application held the second-largest share of the said market in 2022 and is expected to retain its second dominant position throughout the forecast period. This can be attributed to the declining cost of PV systems in the past few years. Similarly, governments across various countries such as India, China, and the US offer incentives and tax rebate to residential users to install PV systems, which is expected to fuel the growth of the market for PV systems in residential applications during the forecast period.
“Europe to hold a significant share of the photovoltaic market during the forecast period”
Europe is expected to hold a significantly large share for photovoltaic market during the forecast period. The countries that constitute a major portion of the photovoltaic market in Europe include the Germany, France, Italy. The countries of the European Union have also started working toward compliance with the Clean Energy Package of the Commission that sets a 32% renewable energy target by 2030. As such, governments of a number of countries in Europe are increasingly making efforts to generate low-cost solar energy to meet their energy targets. This is expected to propel the growth of the PV market in Europe during the forecast period.
The report profiles key players in the photovoltaic market with their respective market ranking analysis. Prominent players profiled in this report are include are JinkoSolar (China), JA Solar (China), Trina Solar (China), LONGi (China), Canadian Solar (Canada), First Solar (US), Hanwha Q CELLS (South Korea), Wuxi Suntech Power (China), Sharp (Japan), Mitsubishi Electric (Japan), Array Technologies (US), Chint Solar (China), GCL System Integration Technology (China), Huawei (China), LG Electronics (South Korea), NEXTracker (US), Risen Energy (China), SMA Solar Technology (Germany), Sungrow Power Supply (China), Tongwei Solar (China), Eaton Corp. (Ireland), ABB (Switzerland), Power Electronics (Spain), Fimer (Italy), AllEarth Renewables (US), Emmvee Photovoltaic Power Private Limited (India), ShunFeng International Clean Energy (China), Waaree Energies Ltd. (India) and Yingli Solar (China).
Research Coverage:
This research report categorizes the photovoltaic market on the basis of component, material, cell type, installation type, application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the photovoltaic market and forecasts the same till 2028. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the photovoltaic cosystem.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the photovoltaic market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
4. The analysis of the top 31 companies, based on the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Patent analysis, trade data, and technological trends that will shape the market in the coming years has also been covered in this report.
The rising number of solar installations attributed to government-led incentives and schemes, growth in the adoption of PV systems for residential applications, decreasing cost of PV systems and energy storage devices is expected to fuel the growth of the photovoltaic market. However, issues related to land acquisition for deployment of solar projects is a prominent factor limiting the growth of the photovoltaic market.
“Ground-mounted PV systems to hold largest share of photovoltaic market during the forecast period.”
The PV market for ground-mounted systems held the largest market share in 2022 and is expected to retain its dominant position throughout the forecast period. With an increasing number of utility-scale projects worldwide, the ground-mounted PV systems market is expected to witness significant growth during the forecast period. The ground-mounted segment dominates the solar photovoltaic market more than the rooftop segment due to higher capacity installations in the ground-mounted segment worldwide. The higher demand for utility-scale is expected to continue during the forecast period, with strong demand from China and many emerging markets around the world installing notable amounts that are mostly ground-mounted.
“Market for half-cell PV module segment is expected to witness higher growth during the forecast period”
The half-cell PV module segment is expected to witness significant growth in the photovoltaic market during the forecast period. Half-cut solar cells have a higher power generating capacity than normal solar cells. As a result of the increased power output, the number of solar cells required for installation is reduced, conserving space. For residential, commercial, and industrial locations with limited space, half-cut solar cell technology has proven to be a viable option. The half-cell modules have outstanding durability and long-life performance. Hence, half-cell type panels are more durable and less prone to cracking over long periods. Additionally, the half-cut solar panels have high shade tolerance, unlike the conventional models. These factors are likely to result in higher adoption of half-cell PV modules during the forecast period.
“Market for residential application to hold a significant share during the forecast period ”
Residential application held the second-largest share of the said market in 2022 and is expected to retain its second dominant position throughout the forecast period. This can be attributed to the declining cost of PV systems in the past few years. Similarly, governments across various countries such as India, China, and the US offer incentives and tax rebate to residential users to install PV systems, which is expected to fuel the growth of the market for PV systems in residential applications during the forecast period.
“Europe to hold a significant share of the photovoltaic market during the forecast period”
Europe is expected to hold a significantly large share for photovoltaic market during the forecast period. The countries that constitute a major portion of the photovoltaic market in Europe include the Germany, France, Italy. The countries of the European Union have also started working toward compliance with the Clean Energy Package of the Commission that sets a 32% renewable energy target by 2030. As such, governments of a number of countries in Europe are increasingly making efforts to generate low-cost solar energy to meet their energy targets. This is expected to propel the growth of the PV market in Europe during the forecast period.
The report profiles key players in the photovoltaic market with their respective market ranking analysis. Prominent players profiled in this report are include are JinkoSolar (China), JA Solar (China), Trina Solar (China), LONGi (China), Canadian Solar (Canada), First Solar (US), Hanwha Q CELLS (South Korea), Wuxi Suntech Power (China), Sharp (Japan), Mitsubishi Electric (Japan), Array Technologies (US), Chint Solar (China), GCL System Integration Technology (China), Huawei (China), LG Electronics (South Korea), NEXTracker (US), Risen Energy (China), SMA Solar Technology (Germany), Sungrow Power Supply (China), Tongwei Solar (China), Eaton Corp. (Ireland), ABB (Switzerland), Power Electronics (Spain), Fimer (Italy), AllEarth Renewables (US), Emmvee Photovoltaic Power Private Limited (India), ShunFeng International Clean Energy (China), Waaree Energies Ltd. (India) and Yingli Solar (China).
Research Coverage:
This research report categorizes the photovoltaic market on the basis of component, material, cell type, installation type, application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the photovoltaic market and forecasts the same till 2028. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the photovoltaic cosystem.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the photovoltaic market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
4. The analysis of the top 31 companies, based on the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Patent analysis, trade data, and technological trends that will shape the market in the coming years has also been covered in this report.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
FIGURE 1 PHOTOVOLTAIC MARKET: SEGMENT
1.4.2 REGIONAL SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
1.7 UNIT CONSIDERED
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 PHOTOVOLTAIC MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews with experts
2.1.2.2 Breakdown of primaries
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.1.3.1 Key industry insights
2.2 MARKET SIZE ESTIMATION
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: REVENUE OF MARKET PLAYERS FOR PHOTOVOLTAIC MODULE MARKET
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to capture market size by bottom-up analysis (demand side)
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.2.1.2 Major upcoming solar projects in various regions worldwide
TABLE 1 MAJOR SOLAR PROJECTS ACROSS VARIOUS REGIONS
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to capture market size by top-down analysis (supply side)
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
FIGURE 7 ASSUMPTIONS FOR RESEARCH STUDY
2.4.1 LIMITATIONS
3 EXECUTIVE SUMMARY
3.1 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
FIGURE 8 MARKET FOR INVERTERS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 9 SILICON SEGMENT TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD
FIGURE 10 COMMERCIAL & INDUSTRIAL APPLICATIONS TO WITNESS HIGHEST CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD
FIGURE 11 PHOTOVOLTAIC MARKET IN ASIA PACIFIC TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PHOTOVOLTAIC MARKET
FIGURE 12 DECREASING COST OF PV SYSTEMS TO BOOST MARKET GROWTH
4.2 PHOTOVOLTAIC MARKET, BY CELL TYPE
FIGURE 13 HALF-CELL TYPE TO WITNESS HIGHER CAGR DURING FORECAST PERIOD
4.3 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE
FIGURE 14 FLOATING PV SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
4.4 PHOTOVOLTAIC MARKET, BY APPLICATION
FIGURE 15 UTILITIES TO DOMINATE PV MARKET DURING FORECAST PERIOD
4.5 PHOTOVOLTAIC MARKET, BY REGION
FIGURE 16 ASIA PACIFIC TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
4.6 PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY COUNTRY AND APPLICATION
FIGURE 17 CHINA AND UTILITIES WERE LARGEST SHAREHOLDERS OF PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY COUNTRY AND APPLICATION, RESPECTIVELY, IN 2022
4.7 PHOTOVOLTAIC MARKET, BY COUNTRY
FIGURE 18 CHINA TO RECORD HIGHEST CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 PHOTOVOLTAIC MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising number of solar installations attributed to government-led incentives and schemes
5.2.1.2 Growing adoption of PV systems in residential applications
FIGURE 20 RESIDENTIAL SOLAR PV SYSTEM PRICING
5.2.1.3 Decreasing cost of PV systems and energy storage devices
FIGURE 21 SOLAR PV PRICING TRENDS AND DEPLOYMENT GROWTH
FIGURE 22 DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 Lack of skilled workforce for PV installation and maintenance
5.2.2.2 Safety risks associated with high DC voltages
FIGURE 23 RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing investments in renewable energy
FIGURE 24 RENEWABLE POWER INVESTMENTS, 2019–2021 (USD BILLION)
5.2.3.2 Ongoing technological developments in solar cell manufacturing
FIGURE 25 OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 Issues related to land acquisition for deployment of solar projects
FIGURE 26 CHALLENGES
5.3 SUPPLY CHAIN ANALYSIS
FIGURE 27 SUPPLY CHAIN OF PHOTOVOLTAIC MARKET
5.4 ECOSYSTEM/MARKET MAP
TABLE 2 PLAYERS AND THEIR ROLE IN ECOSYSTEM
5.5 PORTER’S FIVE FORCES ANALYSIS
TABLE 3 PHOTOVOLTAIC MARKET: PORTER’S FIVE FORCES ANALYSIS
5.5.1 THREAT OF NEW ENTRANTS
5.5.2 THREAT OF SUBSTITUTES
5.5.3 BARGAINING POWER OF SUPPLIERS
5.5.4 BARGAINING POWER OF BUYERS
5.5.5 INTENSITY OF COMPETITIVE RIVALRY
5.6 KEY STAKEHOLDERS AND BUYING CRITERIA
5.6.1 KEY STAKEHOLDERS IN BUYING PROCESS
TABLE 4 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 VERTICALS (%)
5.6.2 BUYING CRITERIA
FIGURE 28 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
TABLE 5 KEY BUYING CRITERIA FOR TOP 3 INDUSTRIES
5.7 TRENDS/DISRUPTIONS IMPACTING BUSINESS OF MARKET PLAYERS AND RAW MATERIAL SUPPLIERS
5.7.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PHOTOVOLTAIC MARKET PLAYERS
FIGURE 29 REVENUE SHIFT IN PHOTOVOLTAIC MARKET
5.8 TECHNOLOGY ANALYSIS
TABLE 6 TECHNOLOGICAL ANALYSIS FOR PV MARKET
5.9 CASE STUDY ANALYSIS
5.9.1 TATA POWER SOLAR (INDIA) COMMISSIONED 3 MW SOLAR PV POWER PLANT IN IRON ORE MINE AT NOAMUNDI (INDIA)
5.9.2 HANWHA Q CELLS (SOUTH KOREA) HELPED COPENHAGEN ZOO IMPLEMENT C&I ROOFTOP SYSTEM TO MEET ITS SUSTAINABILITY GOALS
5.9.3 SHARP HELPED BIG C SUPERMARKET (THAILAND) INSTALL ROOFTOP SOLAR PANELS
5.9.4 HEWLETT PACKARD (HP) INSTALLED ROOFTOP SOLAR PANELS WITH THE HELP OF SHARP (JAPAN)
5.9.5 LONGI (CHINA) COMPLETED EXECUTION OF LARGE-SCALE PV POWER STATION AT GUIZHOU COMPLEX
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO
5.10.1.1 Import scenario for photovoltaic components
TABLE 7 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
5.10.2 EXPORT SCENARIO
5.10.2.1 Export scenario for photovoltaic components
TABLE 8 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
5.11 PATENT ANALYSIS
TABLE 9 PATENT REGISTRATIONS RELATED TO PHOTOVOLTAIC MARKET
FIGURE 30 PHOTOVOLTAIC PATENTS PUBLISHED BETWEEN 2012 AND 2022
TABLE 10 NUMBER OF PATENTS REGISTERED IN PHOTOVOLTAIC MARKET FROM 2012 TO 2022
FIGURE 31 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS FROM 2012 TO 2022
5.12 TARIFF
5.13 REGULATORY STANDARDS
5.13.1 REGULATORY COMPLIANCE
5.13.1.1 Regulations
5.13.1.2 Standards
TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14 KEY CONFERENCES AND EVENTS, 2022–2023
TABLE 15 PHOTOVOLTAIC MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
5.15 PRICING ANALYSIS
TABLE 16 AVERAGE SELLING PRICE OF PHOTOVOLTAIC MODULES AND INVERTERS
TABLE 17 AVERAGE SELLING PRICE OF BOV (BALANCE OF SYSTEM) COMPONENTS
TABLE 18 AVERAGE SELLING PRICE OF PV SYSTEMS, BY APPLICATION
5.15.1 AVERAGE SELLING PRICE OF PV MODULES , BY OFFERING (KEY PLAYERS)
FIGURE 32 AVERAGE SELLING PRICE OF PV MODULES OFFERED BY KEY PLAYERS, BY APPLICATION
TABLE 19 AVERAGE SELLING PRICE OF PV MODULES OFFERED BY KEY PLAYERS, BY APPLICATION (USD/WATT)
6 PHOTOVOLTAIC MARKET, BY COMPONENT
6.1 INTRODUCTION
FIGURE 33 PHOTOVOLTAIC MARKET FOR INVERTERS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 20 PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 21 PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 22 PHOTOVOLTAIC MARKET, BY ANNUAL CAPACITY, 2019–2022 (GW)
TABLE 23 PHOTOVOLTAIC MARKET, BY ANNUAL CAPACITY, 2023–2028 (GW)
6.2 MODULES
6.2.1 PV MODULE TYPES
6.2.1.1 Organic photovoltaic modules
6.2.1.1.1 Organic PV modules produce energy at lower cost compared to traditional solar technologies
6.2.1.2 Inorganic photovoltaic modules
6.2.1.2.1 Inorganic PV modules have a longer lifespan and higher efficiency than OPVs
6.2.1.3 Hybrid photovoltaic modules
6.2.1.3.1 Hybrid photovoltaic modules contain both inorganic and organic materials
6.2.2 BY CELL TYPE
6.2.2.1 60 cells
TABLE 24 COMPANIES OFFERING 60-CELL PV MODULES
6.2.2.2 72 cells
TABLE 25 COMPANIES OFFERING 72-CELL PV MODULES
6.2.2.3 96 cells
TABLE 26 COMPANIES OFFERING 96-CELL PV MODULES
TABLE 27 MODULES: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 28 MODULES: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
TABLE 29 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2019–2022 (USD MILLION)
TABLE 30 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2023–2028 (USD MILLION)
TABLE 31 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2019–2022 (USD MILLION)
TABLE 32 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2023–2028 (USD MILLION)
TABLE 33 UTILITIES: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2019–2022 (USD BILLION)
TABLE 34 UTILITIES: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2023–2028 (USD BILLION)
TABLE 35 MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 36 MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
6.3 INVERTERS
6.3.1 PV INVERTERS CONVERT DIRECT CURRENT OF PV MODULES INTO GRID-COMPLIANT ALTERNATING CURRENT
TABLE 37 INVERTERS: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 38 INVERTERS: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
TABLE 39 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 40 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 41 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 42 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 43 UTILITIES: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 44 UTILITIES: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 45 INVERTERS: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 46 INVERTERS: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
6.4 BALANCE OF SYSTEM
6.4.1 CONNECTIONS AND CABLES
6.4.1.1 BOS market for cables & connectors to hold largest share during forecast period
6.4.2 JUNCTION BOXES
6.4.2.1 Junction box is enclosure on module where PV strings are electrically connected
6.4.3 SAFETY EQUIPMENT
6.4.3.1 Safety equipment essential to ensure safety of PV systems from harsh weather conditions
6.4.4 TRACKERS
6.4.4.1 Movement of solar trackers increases solar energy output by up to 40% compared with standard panels
6.4.5 BATTERIES
6.4.5.1 BOS market for batteries to exhibit highest growth during forecast period
6.4.6 MONITORING SYSTEMS
6.4.6.1 Ensure reliable functioning and maximum yield of any solar electric system
6.4.7 OTHERS
TABLE 47 BOS: PHOTOVOLTAIC MARKET, BY TYPE, 2019–2022 (USD BILLION)
TABLE 48 BOS: PHOTOVOLTAIC MARKET, BY TYPE, 2023–2028 (USD BILLION)
TABLE 49 BOS: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 50 BOS: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
TABLE 51 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2019–2022 (USD MILLION)
TABLE 52 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2023–2028 (USD MILLION)
TABLE 53 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2019–2022 (USD MILLION)
TABLE 54 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2023–2028 (USD MILLION)
TABLE 55 UTILITIES: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2019–2022 (USD BILLION)
TABLE 56 UTILITIES: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2023–2028 (USD BILLION)
TABLE 57 BOS: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 58 BOS: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7 PHOTOVOLTAIC MARKET, BY MATERIAL
7.1 INTRODUCTION
FIGURE 34 SILICON-BASED PHOTOVOLTAIC SYSTEMS TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
TABLE 59 PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD BILLION)
TABLE 60 PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD BILLION)
7.2 SILICON
TABLE 61 SILICON: PHOTOVOLTAIC MARKET, BY TYPE, 2019–2022 (USD MILLION)
TABLE 62 SILICON: PHOTOVOLTAIC MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 63 SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 64 SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7.2.1 CRYSTALLINE SILICON
TABLE 65 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY TYPE, 2019–2022 (USD BILLION)
TABLE 66 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY TYPE, 2023–2028 (USD BILLION)
TABLE 67 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 68 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7.2.1.1 Crystalline silicon types
7.2.1.1.1 Monocrystalline
7.2.1.1.1.1 High efficiency and minimum space requirements to drive market growth
TABLE 69 MONOCRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 70 MONOCRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7.2.1.1.2 Multicrystalline/polycrystalline
7.2.1.1.2.1 Low-cost production makes them preferred choice for residential applications
TABLE 71 MULTICRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 72 MULTICRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7.2.1.2 Crystalline silicon technologies
TABLE 73 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY TECHNOLOGY, 2019–2022 (USD BILLION)
TABLE 74 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY TECHNOLOGY, 2023–2028 (USD BILLION)
7.2.1.2.1 BSF
7.2.1.2.1.1 AI BSF most used technology for fabricating photovoltaic cells
7.2.1.2.2 PERC
7.2.1.2.2.1 Efficiency and high flexibility offered by PERC to boost demand
7.2.1.2.3 Others
7.2.2 THIN FILM
TABLE 75 THIN-FILM SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 76 THIN-FILM SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD MILLION)
7.2.2.1 Amorphous
7.2.2.1.1 Amorphous solar modules perform better even in low-light conditions
7.2.2.2 Nanocrystalline
7.2.2.2.1 Use of nanocrystals in solar cells increase their efficiency by up to 60%
TABLE 77 COMPOUNDS: PHOTOVOLTAIC MARKET, BY TYPE, 2019–2022 (USD BILLION)
TABLE 78 COMPOUNDS: PHOTOVOLTAIC MARKET, BY TYPE, 2023–2028 (USD BILLION)
TABLE 79 COMPOUNDS: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 80 COMPOUNDS: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD MILLION)
7.2.3 COPPER INDIUM GALLIUM SELENIDE
7.2.3.1 CIGS solar cells among most efficient thin-film PV technologies
TABLE 81 CIGS: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 82 CIGS: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD MILLION)
7.2.4 CADMIUM TELLURIDE
7.2.4.1 CdTe materials most commonly used in thin-film modules
TABLE 83 CDTE: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 84 CDTE: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD MILLION)
7.2.5 GALLIUM ARSENIDE AND INDIUM PHOSPHIDE
7.2.5.1 GaAs and InP materials used to achieve high efficiency in solar cells
7.2.6 PEROVSKITE
7.2.6.1 Perovskite cells absorb sunlight across entire visible spectrum
7.2.7 OTHERS
8 PHOTOVOLTAIC MARKET, BY CELL TYPE
8.1 INTRODUCTION
FIGURE 35 HALF-CELL PV MODULES TO REGISTER HIGHER CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD
TABLE 85 PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 86 PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
8.2 FULL-CELL PV MODULES
8.2.1 FULL-CELL PV MODULES TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
TABLE 87 FULL-CELL PV MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 88 FULL-CELL PV MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
8.3 HALF-CELL PV MODULES
8.3.1 MARKET FOR HALF-CELL PV MODULES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 89 HALF-CELL PV MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 90 HALF-CELL PV MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
9 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE
9.1 INTRODUCTION
FIGURE 36 FLOATING PV SEGMENT OF PHOTOVOLTAIC MARKET TO WITNESS HIGHEST CAGR FROM 2023 TO 2028
TABLE 91 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE, 2019–2022 (USD BILLION)
TABLE 92 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE, 2023–2028 (USD BILLION)
9.2 GROUND MOUNTED
9.2.1 GROUND-MOUNTED SEGMENT TO HOLD LARGEST SHARE OF PHOTOVOLTAIC MARKET IN 2028
9.3 BUILDING-INTEGRATED PHOTOVOLTAICS
9.3.1 ROOFTOPS
9.3.1.1 Increasing rooftop installations of PV modules for residential and commercial applications to drive market
9.3.2 WINDOWS
9.3.2.1 Surging adoption of PV windows by business complexes in major cities worldwide to drive market
9.4 FLOATING PV
9.4.1 FLOATING PV SEGMENT TO WITNESS HIGHEST CAGR FROM 2022 TO 2027
10 PHOTOVOLTAIC MARKET, BY APPLICATION
10.1 INTRODUCTION
FIGURE 37 UTILITIES TO CONTINUE TO DOMINATE PV MARKET IN TERMS OF SIZE DURING FORECAST PERIOD
TABLE 93 PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 94 PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
10.2 RESIDENTIAL
10.2.1 MARKET FOR RESIDENTIAL APPLICATION TO GROW AT SIGNIFICANT CAGR FROM 2023 TO 2028
FIGURE 38 INVERTERS TO REGISTER HIGHEST CAGR IN PHOTOVOLTAIC MARKET FOR RESIDENTIAL APPLICATION FROM 2023 TO 2028
TABLE 95 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 96 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 97 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 98 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
10.3 COMMERCIAL AND INDUSTRIAL
10.3.1 COMMERCIAL & INDUSTRIAL APPLICATION TO EXHIBIT HIGHEST GROWTH FROM 2023 TO 2028
TABLE 99 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 100 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 101 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 102 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
10.4 UTILITIES
10.4.1 UTILITIES TO ACCOUNT FOR LARGEST SHARE OF PHOTOVOLTAIC MARKET THROUGHOUT FORECAST PERIOD
TABLE 103 UTILITIES: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 104 UTILITIES: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 105 UTILITIES: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 106 UTILITIES: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
11 PHOTOVOLTAIC CONCENTRATION SYSTEMS
11.1 INTRODUCTION
11.2 HIGH-CONCENTRATION PV
11.3 MEDIUM- AND LOW-CONCENTRATION PV
TABLE 107 DIFFERENT CLASSES OF CPV SYSTEMS AND THEIR REQUIREMENTS
12 POWER CAPACITY RANGES OF PHOTOVOLTAIC SYSTEMS
12.1 INTRODUCTION
12.2 UP TO 100 WP
TABLE 108 COMPANIES OFFERING PV MODULES UP TO 100 WP
12.3 100.1 TO 300 WP
TABLE 109 COMPANIES OFFERING PV MODULES FROM 100.1 TO 300 WP
12.4 ABOVE 300 WP
TABLE 110 COMPANIES OFFERING PV MODULES ABOVE 300 WP
13 PHOTOVOLTAIC MARKET, BY REGION
13.1 INTRODUCTION
FIGURE 39 REGIONAL SPLIT OF PHOTOVOLTAIC MARKET
FIGURE 40 PHOTOVOLTAIC MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR FROM 2023 TO 2028
TABLE 111 PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 112 PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
13.2 NORTH AMERICA
FIGURE 41 SNAPSHOT: PHOTOVOLTAIC MARKET IN NORTH AMERICA
TABLE 113 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 114 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
TABLE 115 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 116 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 117 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
TABLE 118 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
TABLE 119 SILICON: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2019–2022 (USD MILLION)
TABLE 120 SILICON: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2023–2028 (USD MILLION)
TABLE 121 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2019–2022 (USD BILLION)
TABLE 122 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2023–2028 (USD BILLION)
TABLE 123 COMPOUNDS: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2019–2022 (USD MILLION)
TABLE 124 COMPOUNDS: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2023–2028 (USD MILLION)
TABLE 125 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 126 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
TABLE 127 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 128 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
13.2.1 US
13.2.1.1 US to account for largest size of North American market from 2022 to 2028
13.2.2 CANADA
13.2.2.1 Canada to witness large-space solar installations during forecast period
13.2.3 MEXICO
13.2.3.1 Mexico projected to witness highest CAGR from 2023 to 2028
13.3 EUROPE
FIGURE 42 SNAPSHOT: PHOTOVOLTAIC MARKET IN EUROPE
TABLE 129 EUROPE: PHOTOVOLTAIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 130 EUROPE: PHOTOVOLTAIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
TABLE 131 EUROPE: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 132 EUROPE: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 133 EUROPE: PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
TABLE 134 EUROPE: PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
TABLE 135 SILICON: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2019–2022 (USD MILLION)
TABLE 136 SILICON: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2023–2028 (USD MILLION)
TABLE 137 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2019–2022 (USD BILLION)
TABLE 138 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2023–2028 (USD BILLION)
TABLE 139 COMPOUNDS: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2019–2022 (USD MILLION)
TABLE 140 COMPOUNDS: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2023–2028 (USD MILLION)
TABLE 141 EUROPE: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 142 EUROPE: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
TABLE 143 EUROPE: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 144 EUROPE: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
13.3.1 UK
13.3.1.1 Efforts to install large-scale PV systems to harness solar resources
13.3.2 GERMANY
13.3.2.1 Germany to account for largest size of European photovoltaic market from 2023 to 2028
13.3.3 FRANCE
13.3.3.1 France to witness highest CAGR from 2023 to 2028
13.3.4 ITALY
13.3.4.1 Rising establishment of large-scale PV plants
13.3.5 REST OF EUROPE
13.4 ASIA PACIFIC
FIGURE 43 SNAPSHOT: PHOTOVOLTAIC MARKET IN ASIA PACIFIC
TABLE 145 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
TABLE 146 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY COUNTRY, 2023–2028 (USD BILLION)
TABLE 147 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 148 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 149 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD BILLION)
TABLE 150 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD BILLION)
TABLE 151 SILICON: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2019–2022 (USD MILLION)
TABLE 152 SILICON: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2023–2028 (USD MILLION)
TABLE 153 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2019–2022 (USD BILLION)
TABLE 154 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2023–2028 (USD BILLION)
TABLE 155 COMPOUNDS: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2019–2022 (USD MILLION)
TABLE 156 COMPOUNDS: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2023–2028 (USD MILLION)
TABLE 157 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 158 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
TABLE 159 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 160 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
13.4.1 CHINA
13.4.1.1 China to account for largest size of market from 2023 to 2028
13.4.2 JAPAN
13.4.2.1 Increasing investments in residential and PV utility-scale sectors to drive market growth
13.4.3 INDIA
13.4.3.1 Rising rooftop installations and increasing power shortage to boost PV demand
13.4.4 SOUTH KOREA
13.4.4.1 Increasing government efforts for adoption of PV systems to enhance market growth
13.4.5 REST OF ASIA PACIFIC
13.5 ROW
FIGURE 44 SNAPSHOT: PHOTOVOLTAIC MARKET IN ROW
TABLE 161 ROW: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 162 ROW: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
TABLE 163 ROW: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 164 ROW: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 165 ROW: PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
TABLE 166 ROW: PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
TABLE 167 SILICON: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2019–2022 (USD MILLION)
TABLE 168 SILICON: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2023–2028 (USD MILLION)
TABLE 169 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2019–2022 (USD MILLION)
TABLE 170 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2023–2028 (USD MILLION)
TABLE 171 COMPOUNDS: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2019–2022 (USD MILLION)
TABLE 172 COMPOUNDS: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2023–2028 (USD MILLION)
TABLE 173 ROW: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 174 ROW: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
TABLE 175 ROW: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 176 ROW: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
13.5.1 SOUTH AMERICA
13.5.1.1 Photovoltaic market in South America to grow at higher CAGR from 2023 to 2028
13.5.2 MIDDLE EAST AND AFRICA
13.5.2.1 Middle East and Africa to account for larger size of market in 2023
14 COMPETITIVE LANDSCAPE
14.1 OVERVIEW
TABLE 177 PHOTOVOLTAIC MARKET: KEY GROWTH STRATEGIES ADOPTED BY COMPANIES FROM 2019 TO 2022
14.2 3-YEAR COMPANY REVENUE ANALYSIS
FIGURE 45 3-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN PHOTOVOLTAIC MODULE MARKET
FIGURE 46 3-YEAR REVENUE ANALYSIS OF TOP 3 PLAYERS IN PHOTOVOLTAIC INVERTER MARKET
FIGURE 47 3-YEAR REVENUE ANALYSIS OF TOP 3 PLAYERS IN BOS MARKET
14.3 MARKET SHARE ANALYSIS, 2021
TABLE 178 MODULE MARKET: DEGREE OF COMPETITION
TABLE 179 PV INVERTER MARKET: DEGREE OF COMPETITION
TABLE 180 BOS MARKET: DEGREE OF COMPETITION
14.4 COMPANY EVALUATION QUADRANT
14.4.1 STARS
14.4.2 EMERGING LEADERS
14.4.3 PERVASIVE PLAYERS
14.4.4 PARTICIPANTS
FIGURE 48 PHOTOVOLTAIC MARKET: COMPANY EVALUATION QUADRANT, 2021
14.5 START-UP/SME EVALUATION MATRIX
TABLE 181 START-UP/SMES IN PHOTOVOLTAIC MARKET
14.5.1 PROGRESSIVE COMPANIES
14.5.2 RESPONSIVE COMPANIES
14.5.3 DYNAMIC COMPANIES
14.5.4 STARTING BLOCKS
FIGURE 49 PHOTOVOLTAIC MARKET, START-UP/SME EVALUATION MATRIX, 2021
TABLE 182 START-UP MATRIX: DETAILED LIST OF KEY START-UP/SME PLAYERS
14.5.5 COMPETITIVE BENCHMARKING
TABLE 183 PHOTOVOLTAIC MARKET: COMPETITIVE BENCHMARKING OF KEY START-UP/SME PLAYERS
14.6 COMPANY FOOTPRINT
TABLE 184 COMPANY FOOTPRINT
TABLE 185 COMPANY PHOTOVOLTAIC COMPONENT FOOTPRINT
TABLE 186 COMPANY APPLICATION FOOTPRINT
TABLE 187 COMPANY REGION FOOTPRINT
14.7 COMPETITIVE SITUATIONS AND TRENDS
14.8 KEY MARKET DEVELOPMENTS
14.8.1 PRODUCT LAUNCHES
TABLE 188 PRODUCT LAUNCHES, 2019–2022
14.8.2 DEALS
TABLE 189 DEALS, 2019–2022
14.8.3 OTHERS
TABLE 190 INVESTMENTS AND EXPANSIONS, 2019–2022
15 COMPANY PROFILES
15.1 INTRODUCTION
15.2 KEY PLAYERS
(Business Overview, Solutions, Products & Services, Recent Developments, MnM View)*
15.2.1 JINKOSOLAR
TABLE 191 JINKO SOLAR: BUSINESS OVERVIEW
FIGURE 50 JINKOSOLAR: COMPANY SNAPSHOT
15.2.2 JA SOLAR
TABLE 192 JA SOLAR: BUSINESS OVERVIEW
15.2.3 TRINA SOLAR
TABLE 193 TRINA SOLAR: BUSINESS OVERVIEW
15.2.4 LONGI
TABLE 194 LONGI: BUSINESS OVERVIEW
FIGURE 51 LONGI: COMPANY SNAPSHOT
15.2.5 CANADIAN SOLAR
TABLE 195 CANADIAN SOLAR: BUSINESS OVERVIEW
FIGURE 52 CANADIAN SOLAR: COMPANY SNAPSHOT
15.2.6 FIRST SOLAR
TABLE 196 FIRST SOLAR: BUSINESS OVERVIEW
FIGURE 53 FIRST SOLAR: COMPANY SNAPSHOT
15.2.7 HANWHA Q CELLS
TABLE 197 HANWHA Q CELLS: BUSINESS OVERVIEW
15.2.8 MITSUBISHI ELECTRIC
TABLE 198 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW
FIGURE 54 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
15.2.9 SHARP
TABLE 199 SHARP: BUSINESS OVERVIEW
FIGURE 55 SHARP: COMPANY SNAPSHOT
15.2.10 WUXI SUNTECH POWER
TABLE 200 WUXI SUNTECH POWER: BUSINESS OVERVIEW
15.2.11 HUAWEI
TABLE 201 HUAWEI: BUSINESS OVERVIEW
FIGURE 56 HUAWEI: COMPANY SNAPSHOT
15.2.12 SUNGROW POWER SUPPLY
TABLE 202 SUNGROW POWER SUPPLY: BUSINESS OVERVIEW
FIGURE 57 SUNGROW POWER SUPPLY: COMPANY SNAPSHOT
15.2.13 SMA SOLAR TECHNOLOGY
TABLE 203 SMA SOLAR TECHNOLOGY: BUSINESS OVERVIEW
FIGURE 58 SMA SOLAR TECHNOLOGY: COMPANY SNAPSHOT
15.2.14 SOLAREDGE
TABLE 204 SOLAREDGE: BUSINESS OVERVIEW
FIGURE 59 SOLAREDGE: COMPANY SNAPSHOT
15.2.15 ABB
TABLE 205 ABB: BUSINESS OVERVIEW
FIGURE 60 ABB: COMPANY SNAPSHOT
15.3 OTHER KEY PLAYERS
15.3.1 ARRAY TECHNOLOGIES
15.3.2 CHINT SOLAR (ASTRONERGY)
15.3.3 GCL SYSTEM INTEGRATION TECHNOLOGY
15.3.4 LG ELECTRONICS
15.3.5 NEXTRACKER
15.3.6 RISEN ENERGY
15.3.7 TONGWEI SOLAR
15.3.8 YINGLI SOLAR
15.3.9 ACCIONA S.A
15.3.10 ABENGOA, S.A
15.3.11 TATA POWER SOLAR SYSTEMS
15.3.12 WAAREE ENERGIES LTD
15.3.13 SHUNFENG INTERNATIONAL CLEAN ENERGY LIMITED
15.3.14 EMMVEE PHOTOVOLTAIC POWER PRIVATE LIMITED
15.3.15 ALLEARTH RENEWABLES
15.3.16 EATON CORP.
15.3.17 POWER ELECTRONICS
15.3.18 FIMER
*Details on Business Overview, Products, Solutions & Services offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
16 APPENDIX
16.1 DISCUSSION GUIDE
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.3 CUSTOMIZATION OPTIONS
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
FIGURE 1 PHOTOVOLTAIC MARKET: SEGMENT
1.4.2 REGIONAL SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
1.7 UNIT CONSIDERED
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 PHOTOVOLTAIC MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews with experts
2.1.2.2 Breakdown of primaries
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.1.3.1 Key industry insights
2.2 MARKET SIZE ESTIMATION
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: REVENUE OF MARKET PLAYERS FOR PHOTOVOLTAIC MODULE MARKET
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to capture market size by bottom-up analysis (demand side)
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.2.1.2 Major upcoming solar projects in various regions worldwide
TABLE 1 MAJOR SOLAR PROJECTS ACROSS VARIOUS REGIONS
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to capture market size by top-down analysis (supply side)
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
FIGURE 7 ASSUMPTIONS FOR RESEARCH STUDY
2.4.1 LIMITATIONS
3 EXECUTIVE SUMMARY
3.1 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
FIGURE 8 MARKET FOR INVERTERS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 9 SILICON SEGMENT TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD
FIGURE 10 COMMERCIAL & INDUSTRIAL APPLICATIONS TO WITNESS HIGHEST CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD
FIGURE 11 PHOTOVOLTAIC MARKET IN ASIA PACIFIC TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PHOTOVOLTAIC MARKET
FIGURE 12 DECREASING COST OF PV SYSTEMS TO BOOST MARKET GROWTH
4.2 PHOTOVOLTAIC MARKET, BY CELL TYPE
FIGURE 13 HALF-CELL TYPE TO WITNESS HIGHER CAGR DURING FORECAST PERIOD
4.3 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE
FIGURE 14 FLOATING PV SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
4.4 PHOTOVOLTAIC MARKET, BY APPLICATION
FIGURE 15 UTILITIES TO DOMINATE PV MARKET DURING FORECAST PERIOD
4.5 PHOTOVOLTAIC MARKET, BY REGION
FIGURE 16 ASIA PACIFIC TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
4.6 PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY COUNTRY AND APPLICATION
FIGURE 17 CHINA AND UTILITIES WERE LARGEST SHAREHOLDERS OF PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY COUNTRY AND APPLICATION, RESPECTIVELY, IN 2022
4.7 PHOTOVOLTAIC MARKET, BY COUNTRY
FIGURE 18 CHINA TO RECORD HIGHEST CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 PHOTOVOLTAIC MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising number of solar installations attributed to government-led incentives and schemes
5.2.1.2 Growing adoption of PV systems in residential applications
FIGURE 20 RESIDENTIAL SOLAR PV SYSTEM PRICING
5.2.1.3 Decreasing cost of PV systems and energy storage devices
FIGURE 21 SOLAR PV PRICING TRENDS AND DEPLOYMENT GROWTH
FIGURE 22 DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 Lack of skilled workforce for PV installation and maintenance
5.2.2.2 Safety risks associated with high DC voltages
FIGURE 23 RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing investments in renewable energy
FIGURE 24 RENEWABLE POWER INVESTMENTS, 2019–2021 (USD BILLION)
5.2.3.2 Ongoing technological developments in solar cell manufacturing
FIGURE 25 OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 Issues related to land acquisition for deployment of solar projects
FIGURE 26 CHALLENGES
5.3 SUPPLY CHAIN ANALYSIS
FIGURE 27 SUPPLY CHAIN OF PHOTOVOLTAIC MARKET
5.4 ECOSYSTEM/MARKET MAP
TABLE 2 PLAYERS AND THEIR ROLE IN ECOSYSTEM
5.5 PORTER’S FIVE FORCES ANALYSIS
TABLE 3 PHOTOVOLTAIC MARKET: PORTER’S FIVE FORCES ANALYSIS
5.5.1 THREAT OF NEW ENTRANTS
5.5.2 THREAT OF SUBSTITUTES
5.5.3 BARGAINING POWER OF SUPPLIERS
5.5.4 BARGAINING POWER OF BUYERS
5.5.5 INTENSITY OF COMPETITIVE RIVALRY
5.6 KEY STAKEHOLDERS AND BUYING CRITERIA
5.6.1 KEY STAKEHOLDERS IN BUYING PROCESS
TABLE 4 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 VERTICALS (%)
5.6.2 BUYING CRITERIA
FIGURE 28 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
TABLE 5 KEY BUYING CRITERIA FOR TOP 3 INDUSTRIES
5.7 TRENDS/DISRUPTIONS IMPACTING BUSINESS OF MARKET PLAYERS AND RAW MATERIAL SUPPLIERS
5.7.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PHOTOVOLTAIC MARKET PLAYERS
FIGURE 29 REVENUE SHIFT IN PHOTOVOLTAIC MARKET
5.8 TECHNOLOGY ANALYSIS
TABLE 6 TECHNOLOGICAL ANALYSIS FOR PV MARKET
5.9 CASE STUDY ANALYSIS
5.9.1 TATA POWER SOLAR (INDIA) COMMISSIONED 3 MW SOLAR PV POWER PLANT IN IRON ORE MINE AT NOAMUNDI (INDIA)
5.9.2 HANWHA Q CELLS (SOUTH KOREA) HELPED COPENHAGEN ZOO IMPLEMENT C&I ROOFTOP SYSTEM TO MEET ITS SUSTAINABILITY GOALS
5.9.3 SHARP HELPED BIG C SUPERMARKET (THAILAND) INSTALL ROOFTOP SOLAR PANELS
5.9.4 HEWLETT PACKARD (HP) INSTALLED ROOFTOP SOLAR PANELS WITH THE HELP OF SHARP (JAPAN)
5.9.5 LONGI (CHINA) COMPLETED EXECUTION OF LARGE-SCALE PV POWER STATION AT GUIZHOU COMPLEX
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO
5.10.1.1 Import scenario for photovoltaic components
TABLE 7 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
5.10.2 EXPORT SCENARIO
5.10.2.1 Export scenario for photovoltaic components
TABLE 8 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
5.11 PATENT ANALYSIS
TABLE 9 PATENT REGISTRATIONS RELATED TO PHOTOVOLTAIC MARKET
FIGURE 30 PHOTOVOLTAIC PATENTS PUBLISHED BETWEEN 2012 AND 2022
TABLE 10 NUMBER OF PATENTS REGISTERED IN PHOTOVOLTAIC MARKET FROM 2012 TO 2022
FIGURE 31 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS FROM 2012 TO 2022
5.12 TARIFF
5.13 REGULATORY STANDARDS
5.13.1 REGULATORY COMPLIANCE
5.13.1.1 Regulations
5.13.1.2 Standards
TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14 KEY CONFERENCES AND EVENTS, 2022–2023
TABLE 15 PHOTOVOLTAIC MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
5.15 PRICING ANALYSIS
TABLE 16 AVERAGE SELLING PRICE OF PHOTOVOLTAIC MODULES AND INVERTERS
TABLE 17 AVERAGE SELLING PRICE OF BOV (BALANCE OF SYSTEM) COMPONENTS
TABLE 18 AVERAGE SELLING PRICE OF PV SYSTEMS, BY APPLICATION
5.15.1 AVERAGE SELLING PRICE OF PV MODULES , BY OFFERING (KEY PLAYERS)
FIGURE 32 AVERAGE SELLING PRICE OF PV MODULES OFFERED BY KEY PLAYERS, BY APPLICATION
TABLE 19 AVERAGE SELLING PRICE OF PV MODULES OFFERED BY KEY PLAYERS, BY APPLICATION (USD/WATT)
6 PHOTOVOLTAIC MARKET, BY COMPONENT
6.1 INTRODUCTION
FIGURE 33 PHOTOVOLTAIC MARKET FOR INVERTERS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 20 PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 21 PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 22 PHOTOVOLTAIC MARKET, BY ANNUAL CAPACITY, 2019–2022 (GW)
TABLE 23 PHOTOVOLTAIC MARKET, BY ANNUAL CAPACITY, 2023–2028 (GW)
6.2 MODULES
6.2.1 PV MODULE TYPES
6.2.1.1 Organic photovoltaic modules
6.2.1.1.1 Organic PV modules produce energy at lower cost compared to traditional solar technologies
6.2.1.2 Inorganic photovoltaic modules
6.2.1.2.1 Inorganic PV modules have a longer lifespan and higher efficiency than OPVs
6.2.1.3 Hybrid photovoltaic modules
6.2.1.3.1 Hybrid photovoltaic modules contain both inorganic and organic materials
6.2.2 BY CELL TYPE
6.2.2.1 60 cells
TABLE 24 COMPANIES OFFERING 60-CELL PV MODULES
6.2.2.2 72 cells
TABLE 25 COMPANIES OFFERING 72-CELL PV MODULES
6.2.2.3 96 cells
TABLE 26 COMPANIES OFFERING 96-CELL PV MODULES
TABLE 27 MODULES: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 28 MODULES: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
TABLE 29 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2019–2022 (USD MILLION)
TABLE 30 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2023–2028 (USD MILLION)
TABLE 31 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2019–2022 (USD MILLION)
TABLE 32 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2023–2028 (USD MILLION)
TABLE 33 UTILITIES: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2019–2022 (USD BILLION)
TABLE 34 UTILITIES: PHOTOVOLTAIC MARKET FOR MODULES, BY REGION, 2023–2028 (USD BILLION)
TABLE 35 MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 36 MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
6.3 INVERTERS
6.3.1 PV INVERTERS CONVERT DIRECT CURRENT OF PV MODULES INTO GRID-COMPLIANT ALTERNATING CURRENT
TABLE 37 INVERTERS: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 38 INVERTERS: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
TABLE 39 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 40 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 41 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 42 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 43 UTILITIES: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 44 UTILITIES: PHOTOVOLTAIC MARKET FOR INVERTERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 45 INVERTERS: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 46 INVERTERS: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
6.4 BALANCE OF SYSTEM
6.4.1 CONNECTIONS AND CABLES
6.4.1.1 BOS market for cables & connectors to hold largest share during forecast period
6.4.2 JUNCTION BOXES
6.4.2.1 Junction box is enclosure on module where PV strings are electrically connected
6.4.3 SAFETY EQUIPMENT
6.4.3.1 Safety equipment essential to ensure safety of PV systems from harsh weather conditions
6.4.4 TRACKERS
6.4.4.1 Movement of solar trackers increases solar energy output by up to 40% compared with standard panels
6.4.5 BATTERIES
6.4.5.1 BOS market for batteries to exhibit highest growth during forecast period
6.4.6 MONITORING SYSTEMS
6.4.6.1 Ensure reliable functioning and maximum yield of any solar electric system
6.4.7 OTHERS
TABLE 47 BOS: PHOTOVOLTAIC MARKET, BY TYPE, 2019–2022 (USD BILLION)
TABLE 48 BOS: PHOTOVOLTAIC MARKET, BY TYPE, 2023–2028 (USD BILLION)
TABLE 49 BOS: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 50 BOS: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
TABLE 51 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2019–2022 (USD MILLION)
TABLE 52 RESIDENTIAL: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2023–2028 (USD MILLION)
TABLE 53 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2019–2022 (USD MILLION)
TABLE 54 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2023–2028 (USD MILLION)
TABLE 55 UTILITIES: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2019–2022 (USD BILLION)
TABLE 56 UTILITIES: PHOTOVOLTAIC MARKET FOR BOS, BY REGION, 2023–2028 (USD BILLION)
TABLE 57 BOS: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 58 BOS: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7 PHOTOVOLTAIC MARKET, BY MATERIAL
7.1 INTRODUCTION
FIGURE 34 SILICON-BASED PHOTOVOLTAIC SYSTEMS TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
TABLE 59 PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD BILLION)
TABLE 60 PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD BILLION)
7.2 SILICON
TABLE 61 SILICON: PHOTOVOLTAIC MARKET, BY TYPE, 2019–2022 (USD MILLION)
TABLE 62 SILICON: PHOTOVOLTAIC MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 63 SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 64 SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7.2.1 CRYSTALLINE SILICON
TABLE 65 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY TYPE, 2019–2022 (USD BILLION)
TABLE 66 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY TYPE, 2023–2028 (USD BILLION)
TABLE 67 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 68 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7.2.1.1 Crystalline silicon types
7.2.1.1.1 Monocrystalline
7.2.1.1.1.1 High efficiency and minimum space requirements to drive market growth
TABLE 69 MONOCRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 70 MONOCRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7.2.1.1.2 Multicrystalline/polycrystalline
7.2.1.1.2.1 Low-cost production makes them preferred choice for residential applications
TABLE 71 MULTICRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 72 MULTICRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
7.2.1.2 Crystalline silicon technologies
TABLE 73 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY TECHNOLOGY, 2019–2022 (USD BILLION)
TABLE 74 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET, BY TECHNOLOGY, 2023–2028 (USD BILLION)
7.2.1.2.1 BSF
7.2.1.2.1.1 AI BSF most used technology for fabricating photovoltaic cells
7.2.1.2.2 PERC
7.2.1.2.2.1 Efficiency and high flexibility offered by PERC to boost demand
7.2.1.2.3 Others
7.2.2 THIN FILM
TABLE 75 THIN-FILM SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 76 THIN-FILM SILICON: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD MILLION)
7.2.2.1 Amorphous
7.2.2.1.1 Amorphous solar modules perform better even in low-light conditions
7.2.2.2 Nanocrystalline
7.2.2.2.1 Use of nanocrystals in solar cells increase their efficiency by up to 60%
TABLE 77 COMPOUNDS: PHOTOVOLTAIC MARKET, BY TYPE, 2019–2022 (USD BILLION)
TABLE 78 COMPOUNDS: PHOTOVOLTAIC MARKET, BY TYPE, 2023–2028 (USD BILLION)
TABLE 79 COMPOUNDS: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 80 COMPOUNDS: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD MILLION)
7.2.3 COPPER INDIUM GALLIUM SELENIDE
7.2.3.1 CIGS solar cells among most efficient thin-film PV technologies
TABLE 81 CIGS: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 82 CIGS: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD MILLION)
7.2.4 CADMIUM TELLURIDE
7.2.4.1 CdTe materials most commonly used in thin-film modules
TABLE 83 CDTE: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 84 CDTE: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD MILLION)
7.2.5 GALLIUM ARSENIDE AND INDIUM PHOSPHIDE
7.2.5.1 GaAs and InP materials used to achieve high efficiency in solar cells
7.2.6 PEROVSKITE
7.2.6.1 Perovskite cells absorb sunlight across entire visible spectrum
7.2.7 OTHERS
8 PHOTOVOLTAIC MARKET, BY CELL TYPE
8.1 INTRODUCTION
FIGURE 35 HALF-CELL PV MODULES TO REGISTER HIGHER CAGR IN PHOTOVOLTAIC MARKET DURING FORECAST PERIOD
TABLE 85 PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 86 PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
8.2 FULL-CELL PV MODULES
8.2.1 FULL-CELL PV MODULES TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
TABLE 87 FULL-CELL PV MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 88 FULL-CELL PV MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
8.3 HALF-CELL PV MODULES
8.3.1 MARKET FOR HALF-CELL PV MODULES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 89 HALF-CELL PV MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 90 HALF-CELL PV MODULES: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
9 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE
9.1 INTRODUCTION
FIGURE 36 FLOATING PV SEGMENT OF PHOTOVOLTAIC MARKET TO WITNESS HIGHEST CAGR FROM 2023 TO 2028
TABLE 91 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE, 2019–2022 (USD BILLION)
TABLE 92 PHOTOVOLTAIC MARKET, BY INSTALLATION TYPE, 2023–2028 (USD BILLION)
9.2 GROUND MOUNTED
9.2.1 GROUND-MOUNTED SEGMENT TO HOLD LARGEST SHARE OF PHOTOVOLTAIC MARKET IN 2028
9.3 BUILDING-INTEGRATED PHOTOVOLTAICS
9.3.1 ROOFTOPS
9.3.1.1 Increasing rooftop installations of PV modules for residential and commercial applications to drive market
9.3.2 WINDOWS
9.3.2.1 Surging adoption of PV windows by business complexes in major cities worldwide to drive market
9.4 FLOATING PV
9.4.1 FLOATING PV SEGMENT TO WITNESS HIGHEST CAGR FROM 2022 TO 2027
10 PHOTOVOLTAIC MARKET, BY APPLICATION
10.1 INTRODUCTION
FIGURE 37 UTILITIES TO CONTINUE TO DOMINATE PV MARKET IN TERMS OF SIZE DURING FORECAST PERIOD
TABLE 93 PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 94 PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
10.2 RESIDENTIAL
10.2.1 MARKET FOR RESIDENTIAL APPLICATION TO GROW AT SIGNIFICANT CAGR FROM 2023 TO 2028
FIGURE 38 INVERTERS TO REGISTER HIGHEST CAGR IN PHOTOVOLTAIC MARKET FOR RESIDENTIAL APPLICATION FROM 2023 TO 2028
TABLE 95 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 96 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 97 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 98 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
10.3 COMMERCIAL AND INDUSTRIAL
10.3.1 COMMERCIAL & INDUSTRIAL APPLICATION TO EXHIBIT HIGHEST GROWTH FROM 2023 TO 2028
TABLE 99 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 100 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 101 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 102 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
10.4 UTILITIES
10.4.1 UTILITIES TO ACCOUNT FOR LARGEST SHARE OF PHOTOVOLTAIC MARKET THROUGHOUT FORECAST PERIOD
TABLE 103 UTILITIES: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 104 UTILITIES: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 105 UTILITIES: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 106 UTILITIES: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
11 PHOTOVOLTAIC CONCENTRATION SYSTEMS
11.1 INTRODUCTION
11.2 HIGH-CONCENTRATION PV
11.3 MEDIUM- AND LOW-CONCENTRATION PV
TABLE 107 DIFFERENT CLASSES OF CPV SYSTEMS AND THEIR REQUIREMENTS
12 POWER CAPACITY RANGES OF PHOTOVOLTAIC SYSTEMS
12.1 INTRODUCTION
12.2 UP TO 100 WP
TABLE 108 COMPANIES OFFERING PV MODULES UP TO 100 WP
12.3 100.1 TO 300 WP
TABLE 109 COMPANIES OFFERING PV MODULES FROM 100.1 TO 300 WP
12.4 ABOVE 300 WP
TABLE 110 COMPANIES OFFERING PV MODULES ABOVE 300 WP
13 PHOTOVOLTAIC MARKET, BY REGION
13.1 INTRODUCTION
FIGURE 39 REGIONAL SPLIT OF PHOTOVOLTAIC MARKET
FIGURE 40 PHOTOVOLTAIC MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR FROM 2023 TO 2028
TABLE 111 PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 112 PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
13.2 NORTH AMERICA
FIGURE 41 SNAPSHOT: PHOTOVOLTAIC MARKET IN NORTH AMERICA
TABLE 113 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 114 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
TABLE 115 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 116 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 117 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
TABLE 118 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
TABLE 119 SILICON: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2019–2022 (USD MILLION)
TABLE 120 SILICON: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2023–2028 (USD MILLION)
TABLE 121 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2019–2022 (USD BILLION)
TABLE 122 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2023–2028 (USD BILLION)
TABLE 123 COMPOUNDS: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2019–2022 (USD MILLION)
TABLE 124 COMPOUNDS: PHOTOVOLTAIC MARKET IN NORTH AMERICA, BY TYPE, 2023–2028 (USD MILLION)
TABLE 125 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 126 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
TABLE 127 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 128 NORTH AMERICA: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
13.2.1 US
13.2.1.1 US to account for largest size of North American market from 2022 to 2028
13.2.2 CANADA
13.2.2.1 Canada to witness large-space solar installations during forecast period
13.2.3 MEXICO
13.2.3.1 Mexico projected to witness highest CAGR from 2023 to 2028
13.3 EUROPE
FIGURE 42 SNAPSHOT: PHOTOVOLTAIC MARKET IN EUROPE
TABLE 129 EUROPE: PHOTOVOLTAIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
TABLE 130 EUROPE: PHOTOVOLTAIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
TABLE 131 EUROPE: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 132 EUROPE: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 133 EUROPE: PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
TABLE 134 EUROPE: PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
TABLE 135 SILICON: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2019–2022 (USD MILLION)
TABLE 136 SILICON: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2023–2028 (USD MILLION)
TABLE 137 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2019–2022 (USD BILLION)
TABLE 138 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2023–2028 (USD BILLION)
TABLE 139 COMPOUNDS: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2019–2022 (USD MILLION)
TABLE 140 COMPOUNDS: PHOTOVOLTAIC MARKET IN EUROPE, BY TYPE, 2023–2028 (USD MILLION)
TABLE 141 EUROPE: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 142 EUROPE: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
TABLE 143 EUROPE: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 144 EUROPE: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
13.3.1 UK
13.3.1.1 Efforts to install large-scale PV systems to harness solar resources
13.3.2 GERMANY
13.3.2.1 Germany to account for largest size of European photovoltaic market from 2023 to 2028
13.3.3 FRANCE
13.3.3.1 France to witness highest CAGR from 2023 to 2028
13.3.4 ITALY
13.3.4.1 Rising establishment of large-scale PV plants
13.3.5 REST OF EUROPE
13.4 ASIA PACIFIC
FIGURE 43 SNAPSHOT: PHOTOVOLTAIC MARKET IN ASIA PACIFIC
TABLE 145 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
TABLE 146 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY COUNTRY, 2023–2028 (USD BILLION)
TABLE 147 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 148 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 149 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD BILLION)
TABLE 150 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD BILLION)
TABLE 151 SILICON: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2019–2022 (USD MILLION)
TABLE 152 SILICON: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2023–2028 (USD MILLION)
TABLE 153 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2019–2022 (USD BILLION)
TABLE 154 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2023–2028 (USD BILLION)
TABLE 155 COMPOUNDS: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2019–2022 (USD MILLION)
TABLE 156 COMPOUNDS: PHOTOVOLTAIC MARKET IN ASIA PACIFIC, BY TYPE, 2023–2028 (USD MILLION)
TABLE 157 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 158 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
TABLE 159 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 160 ASIA PACIFIC: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
13.4.1 CHINA
13.4.1.1 China to account for largest size of market from 2023 to 2028
13.4.2 JAPAN
13.4.2.1 Increasing investments in residential and PV utility-scale sectors to drive market growth
13.4.3 INDIA
13.4.3.1 Rising rooftop installations and increasing power shortage to boost PV demand
13.4.4 SOUTH KOREA
13.4.4.1 Increasing government efforts for adoption of PV systems to enhance market growth
13.4.5 REST OF ASIA PACIFIC
13.5 ROW
FIGURE 44 SNAPSHOT: PHOTOVOLTAIC MARKET IN ROW
TABLE 161 ROW: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 162 ROW: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
TABLE 163 ROW: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 164 ROW: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 165 ROW: PHOTOVOLTAIC MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
TABLE 166 ROW: PHOTOVOLTAIC MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
TABLE 167 SILICON: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2019–2022 (USD MILLION)
TABLE 168 SILICON: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2023–2028 (USD MILLION)
TABLE 169 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2019–2022 (USD MILLION)
TABLE 170 CRYSTALLINE SILICON: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2023–2028 (USD MILLION)
TABLE 171 COMPOUNDS: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2019–2022 (USD MILLION)
TABLE 172 COMPOUNDS: PHOTOVOLTAIC MARKET IN ROW, BY TYPE, 2023–2028 (USD MILLION)
TABLE 173 ROW: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2019–2022 (USD BILLION)
TABLE 174 ROW: PHOTOVOLTAIC MARKET, BY CELL TYPE, 2023–2028 (USD BILLION)
TABLE 175 ROW: PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 176 ROW: PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
13.5.1 SOUTH AMERICA
13.5.1.1 Photovoltaic market in South America to grow at higher CAGR from 2023 to 2028
13.5.2 MIDDLE EAST AND AFRICA
13.5.2.1 Middle East and Africa to account for larger size of market in 2023
14 COMPETITIVE LANDSCAPE
14.1 OVERVIEW
TABLE 177 PHOTOVOLTAIC MARKET: KEY GROWTH STRATEGIES ADOPTED BY COMPANIES FROM 2019 TO 2022
14.2 3-YEAR COMPANY REVENUE ANALYSIS
FIGURE 45 3-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN PHOTOVOLTAIC MODULE MARKET
FIGURE 46 3-YEAR REVENUE ANALYSIS OF TOP 3 PLAYERS IN PHOTOVOLTAIC INVERTER MARKET
FIGURE 47 3-YEAR REVENUE ANALYSIS OF TOP 3 PLAYERS IN BOS MARKET
14.3 MARKET SHARE ANALYSIS, 2021
TABLE 178 MODULE MARKET: DEGREE OF COMPETITION
TABLE 179 PV INVERTER MARKET: DEGREE OF COMPETITION
TABLE 180 BOS MARKET: DEGREE OF COMPETITION
14.4 COMPANY EVALUATION QUADRANT
14.4.1 STARS
14.4.2 EMERGING LEADERS
14.4.3 PERVASIVE PLAYERS
14.4.4 PARTICIPANTS
FIGURE 48 PHOTOVOLTAIC MARKET: COMPANY EVALUATION QUADRANT, 2021
14.5 START-UP/SME EVALUATION MATRIX
TABLE 181 START-UP/SMES IN PHOTOVOLTAIC MARKET
14.5.1 PROGRESSIVE COMPANIES
14.5.2 RESPONSIVE COMPANIES
14.5.3 DYNAMIC COMPANIES
14.5.4 STARTING BLOCKS
FIGURE 49 PHOTOVOLTAIC MARKET, START-UP/SME EVALUATION MATRIX, 2021
TABLE 182 START-UP MATRIX: DETAILED LIST OF KEY START-UP/SME PLAYERS
14.5.5 COMPETITIVE BENCHMARKING
TABLE 183 PHOTOVOLTAIC MARKET: COMPETITIVE BENCHMARKING OF KEY START-UP/SME PLAYERS
14.6 COMPANY FOOTPRINT
TABLE 184 COMPANY FOOTPRINT
TABLE 185 COMPANY PHOTOVOLTAIC COMPONENT FOOTPRINT
TABLE 186 COMPANY APPLICATION FOOTPRINT
TABLE 187 COMPANY REGION FOOTPRINT
14.7 COMPETITIVE SITUATIONS AND TRENDS
14.8 KEY MARKET DEVELOPMENTS
14.8.1 PRODUCT LAUNCHES
TABLE 188 PRODUCT LAUNCHES, 2019–2022
14.8.2 DEALS
TABLE 189 DEALS, 2019–2022
14.8.3 OTHERS
TABLE 190 INVESTMENTS AND EXPANSIONS, 2019–2022
15 COMPANY PROFILES
15.1 INTRODUCTION
15.2 KEY PLAYERS
(Business Overview, Solutions, Products & Services, Recent Developments, MnM View)*
15.2.1 JINKOSOLAR
TABLE 191 JINKO SOLAR: BUSINESS OVERVIEW
FIGURE 50 JINKOSOLAR: COMPANY SNAPSHOT
15.2.2 JA SOLAR
TABLE 192 JA SOLAR: BUSINESS OVERVIEW
15.2.3 TRINA SOLAR
TABLE 193 TRINA SOLAR: BUSINESS OVERVIEW
15.2.4 LONGI
TABLE 194 LONGI: BUSINESS OVERVIEW
FIGURE 51 LONGI: COMPANY SNAPSHOT
15.2.5 CANADIAN SOLAR
TABLE 195 CANADIAN SOLAR: BUSINESS OVERVIEW
FIGURE 52 CANADIAN SOLAR: COMPANY SNAPSHOT
15.2.6 FIRST SOLAR
TABLE 196 FIRST SOLAR: BUSINESS OVERVIEW
FIGURE 53 FIRST SOLAR: COMPANY SNAPSHOT
15.2.7 HANWHA Q CELLS
TABLE 197 HANWHA Q CELLS: BUSINESS OVERVIEW
15.2.8 MITSUBISHI ELECTRIC
TABLE 198 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW
FIGURE 54 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
15.2.9 SHARP
TABLE 199 SHARP: BUSINESS OVERVIEW
FIGURE 55 SHARP: COMPANY SNAPSHOT
15.2.10 WUXI SUNTECH POWER
TABLE 200 WUXI SUNTECH POWER: BUSINESS OVERVIEW
15.2.11 HUAWEI
TABLE 201 HUAWEI: BUSINESS OVERVIEW
FIGURE 56 HUAWEI: COMPANY SNAPSHOT
15.2.12 SUNGROW POWER SUPPLY
TABLE 202 SUNGROW POWER SUPPLY: BUSINESS OVERVIEW
FIGURE 57 SUNGROW POWER SUPPLY: COMPANY SNAPSHOT
15.2.13 SMA SOLAR TECHNOLOGY
TABLE 203 SMA SOLAR TECHNOLOGY: BUSINESS OVERVIEW
FIGURE 58 SMA SOLAR TECHNOLOGY: COMPANY SNAPSHOT
15.2.14 SOLAREDGE
TABLE 204 SOLAREDGE: BUSINESS OVERVIEW
FIGURE 59 SOLAREDGE: COMPANY SNAPSHOT
15.2.15 ABB
TABLE 205 ABB: BUSINESS OVERVIEW
FIGURE 60 ABB: COMPANY SNAPSHOT
15.3 OTHER KEY PLAYERS
15.3.1 ARRAY TECHNOLOGIES
15.3.2 CHINT SOLAR (ASTRONERGY)
15.3.3 GCL SYSTEM INTEGRATION TECHNOLOGY
15.3.4 LG ELECTRONICS
15.3.5 NEXTRACKER
15.3.6 RISEN ENERGY
15.3.7 TONGWEI SOLAR
15.3.8 YINGLI SOLAR
15.3.9 ACCIONA S.A
15.3.10 ABENGOA, S.A
15.3.11 TATA POWER SOLAR SYSTEMS
15.3.12 WAAREE ENERGIES LTD
15.3.13 SHUNFENG INTERNATIONAL CLEAN ENERGY LIMITED
15.3.14 EMMVEE PHOTOVOLTAIC POWER PRIVATE LIMITED
15.3.15 ALLEARTH RENEWABLES
15.3.16 EATON CORP.
15.3.17 POWER ELECTRONICS
15.3.18 FIMER
*Details on Business Overview, Products, Solutions & Services offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
16 APPENDIX
16.1 DISCUSSION GUIDE
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.3 CUSTOMIZATION OPTIONS
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS
