Global Solar PV Power Market

December 2020

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Global Solar PV Power Market: Industry, Size, Share, Growth, Trends and Forecast, 2019–2029

Report Snippet

Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 2

Chapter 1 : Table of Contents

Chapter 3: Market Dynamics Chapter 4: Global Solar PV Power Market, By Type

Chapter 2: Market Purview

Chapter 5: Global Solar PV Power Market, By Deployment

Chapter 6: Global Solar PV Power Market, By End-user

Chapter 8: Competitive Analysis

Chapter 9: Company Profiles

Chapter 7: Global Solar PV Power Market, By Region

Investment Outlook

Future of the Market


Source: Prophecy Market Insights

Market Segmentation

Global Solar PV Power Market

By Type By Region

North America Europe Asia Pacific Latin America Middle East &

Africa

By Deployment

Thin film Multi-Si

Ground Mounted Rooftop Solar

Residential Commercial Utility

By End-user

Executive Summary (1/8)


Overview

Photovoltaic devices convert sunlight into electricity directly. The key components of the PV power system are numerous types ofphotovoltaic cells (also termed as solar cells). Solar photovoltaic cells are semiconductor devices, which proliferates power capacityand contribute to the production of electricity for buildings and households.

PV installations are reliable, safe, and easy to install and incur less operating costs. Furthermore, the sudden concerns regardingclimatic changes and alternative sources of energy have resulted in the rapid adoption of solar energy, which is generating demand forsolar photovoltaic installations.

The global solar PV power market accounted for US$ 108.1 billion in 2019 and is estimated to be US$ 166.4 billion by 2029 and isanticipated to register a CAGR of 4.4%.

In the region, the global solar PV power market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East& Africa. Asia-Pacific is the major solar PV market in the globe which shares around 57% of the total install solar PV capacity.

China, Japan, and India are the key market in the area that has the extreme install capacity share, and are projected to grow further inthe coming years.

The key players operating in the global solar PV power market include First Solar, Inc., Suntech Power Holding Co. Ltd., JinkoSolarHolding Co. Ltd., Sharp Corporation Trina Solar Ltd., Hanwha Q Cells Co Ltd., JA Solar Holdings Co. Ltd., Acciona SA, Canadian Solar Inc.,and SunPower Corporation. Prominent global players who do not have a production firm in these domestic markets may try tocircumnavigate import tariffs by exporting from exempt geographies by expanding manufacturing activities in these regions.



Impact of COVID-19 on the market

The outbreak of Covid-19 crisis has a negative effect on wind and solar PV and is projected to witness lower capacity additions in Q12020 owing to deferred manufacturing and construction activities. The solar industry is expected to face disruptions in the procurementof raw material and components for PV installations. The industry is heavily dependent on China for sourcing module wafers andglasses, thus negatively affecting the growth of the market. This report will quantify the impact of this pandemic on the solar PV powermarket.


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Table 2.1: Global Solar PV Power Market Overview

Parameters 2019 (E) 2029 (F)

Global Solar PV Power Market Value (US$ Mn) XXX.X XXX.X

By Type Segment with Largest Value (US$ Mn) XX: XXX.X XX: XXX.X

By Type Segment with Highest CAGR (%)-2019-2029 XX: CAGR- XX.X

By Deployment Segment with Largest Value (US$ Mn) XX: XXX.X XX: XXX.X

By Deployment Segment with Highest CAGR (%)-2019-2029 XX: CAGR- XX.X

By End-user Segment with Largest Value (US$ Mn) XX: XXX.X XX: XXX.X

By End-user Segment with Highest CAGR (%)-2019-2029 XX: CAGR- XX.X



To be Continued …


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Table 2.2: Global Solar PV Power Market Overview

Parameters 2019 (E) 2029 (F)

By Region with Largest Value (US$ Mn) North America: XXX.X North America : XXX.X

By Region with Highest CAGR (%)-2019-2029 North America : CAGR- XX.X

Key Market Players:

First Solar, Inc.Suntech Power Holding Co. Ltd.JinkoSolar Holding Co. Ltd.Sharp Corporation Trina Solar Ltd.Hanwha Q Cells Co Ltd.JA Solar Holdings Co. Ltd.Acciona SACanadian Solar Inc.SunPower Corporation




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Description Figure 2.1: Global Solar PV Power Market Value Share (%), By Type – 2019 (E)



The global solar PV power market accounted for US$ 108.1billion in 2019 and is estimated to be US$ 166.4 billion by2029 and is anticipated to register a CAGR of 4.4%.

In recent years, the deployment of rooftop solar PV systemshas increased significantly in great measure due tosupporting policies, such as net metering and fiscalincentives.

These policies which in some markets make PV moreattractive from an economic point of view than buyingelectricity from the grid- PV-hybrid mini-grid, virtual powerplants and utility PPA.

The competitiveness of distributed solar power is clearlyevident amid increasing deployment in large markets, suchas China, Brazil, Germany and Mexico. However importantdifferences remain between countries, which highlightfurther improvement potential.

Thin Film Muli-Si

Mono-Si

Figure 2.2: Global Solar PV Power Market Value Share (%), By Deployment –2019 (E)

Ground Mounted

Rooftop Solar

XX.X%

XX.X%



Figure 2.2: Global Portable

Analysis and Outcome


Figure 2.3: Global Solar PV Power Market Value Share (%), By End-user –2019 (E) Figure 2.4: Global Solar PV Power Market Value Share (%), By Region – 2019 (E

Figure 2.4: Global Solar PV Power Market Value Share (%), By Region - 2019(E)

North America

Europe

Latin America

Asia Pacific

Middle East & Africa

XX.X%

Based on application the market is segmented into residential, commercial and utility. The utility segment held a dominant share ofthe market in 2019. A large number of utility scale solar projects are in the pipeline across the globe. In May 2020, for instance,Amazon announced five new utility scale solar projects to power global operations in China, Australia and the U.S.

The increasing number of residential construction projects and growing public awareness regarding the usage of renewable andefficient sources are estimated to drive the residential segment during the forecast period.

In the region, the global solar PV power market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East& Africa. Asia-Pacific is the major solar PV market in the globe which shares around 57% of the total install solar PV capacity. China,Japan, and India are the key market in the area that has the extreme install capacity share, and are projected to grow further in thecoming years.

Residential Commercial

Utility

XX.X%

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Date post:	23-Feb-2021
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Global Solar PV Power Market

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