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Global Solar Photovoltaic (PV) Market Share, Size: By Technology: Thin film, Multi-Si, Mono-Si, Others; By Deployment: Ground-mounted, Rooftop Solar, By Connectivity: On-grid, Off-grid; By End Use: Residential, Commercial, Utility; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

Global Solar Photovoltaic (PV) Market Outlook 

The global market size for solar photovoltaic (PV) reached a value of more than 884.4 GW in 2021. The global solar photovoltaic (PV) market is expected to grow at a CAGR of 23.30% between 2023 and 2028, reaching a projected value of 3107.61 GW by 2027.

 

Key Trends in the Market 

Solar photovoltaic refers to those technologies that convert solar energy into electricity through the photovoltaic effect. A solar photovoltaic system comprises of various solar cells or solar photovoltaic cells that individually convert solar energy. Specialised semiconductors and other materials are used in for the solar photovoltaic cells to effectively convert and generate electricity. 

 

  • With the growing population and rapid urbanisation, the solar photovoltaic (PV) market growth is expected to fuel during the forecast period due to the surging demand for energy.
  • The surging demand for sustainable energy resources and favourable regulations by governments worldwide to encourage the use of renewable energy sources such as solar are likely to influence the market growth of solar photovoltaic (PV) across the globe.
  • Due to infrastructure development and expansion, the market demand is expected to increase, particularly in regions with adequate sunlight. This is due to the rising demand for electricity and improving living standards of consumers.

 

Market Analysis 

Based on the technology, the solar photovoltaic (PV) market can be divided into a thin film, multi-Si, and mono-Si, among others. On the basis of deployment, the market is segmented into ground-mounted and rooftop solar. Based on connectivity, the market is categorised into on-grid and off-grid. According to end use, the market is divided into residential, commercial, and utility. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global solar photovoltaic (PV) market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans. 

 

  • LONGi Green Energy Technology Co., Ltd.
  • Jinko Solar Co., Ltd.
  • Trina Solar
  • JA SOLAR Technology Co.,Ltd.
  • Canadian Solar Inc.
  • Risen Energy Co., Ltd.
  • First Solar Inc.
  • Hanwha Group.
  • Golden Concord Holdings Limited
  • CHINT Group
  • Wuxi Suntech Power Co., Ltd.
  • Adani Group
  • Others

 

Market Share by Deployment

The ground-mounted segment is expected to gain momentum in the solar photovoltaic (PV) market across the globe. This is on account of the surging number of utility-scale projects and solar energy targets as well as the reducing cost of solar PV installations. Ground-mounted deployments are considered easier to clean and maintain. They also produce higher energy owing to their rise in efficiency, further propelling the market growth across the globe over the coming years.

 

Market Share by Region

Geographically, the Asia Pacific region is expected to augment the solar photovoltaic (PV) market share on account of an increase in the installation of solar power projects in India and China.

 

With increasing government initiatives for green energy in India, the market growth for solar photovoltaic (PV) is likely to boost due to the surging demand for electricity. The major focus of deploying renewable energy across India is to support economic development, along with improving access to energy, mitigating climate change, and boosting energy security. This is further expected to push forward the solar photovoltaic (PV) market growth across the Asia Pacific region.

 

Competitive Landscape

LONGi Green Energy Technology Co., Ltd. is a leading technology and manufacturing company that deals in solar wafers and cells along with helping accelerate the clean energy transition. The company offers general solutions for renewables as well as solar energy by providing reliable, high-quality systems, and products. It utilises clean energy along with green production practices in its operations whenever possible while generating low-cost clean energy products for the planet.

 

Jinko Solar Co., Ltd. is one of the most innovative and famous solar technology corporations across the globe. The company’s business includes the essential links of the photovoltaic industry chain, aiming at the research and development of integrated photovoltaic products as well as integrated clean energy solutions.

 

Trina Solar is primarily involved in the manufacturing as well as sales of PV modules, along with research and development. It offers power station and system products, and sales and development of intelligent microgrids as well as multi-energy systems, PV power generation, and operation, and maintenance services, among others. The company is leading the way in smart solar energy solutions for a net-zero future.

 

Other market players includes JA SOLAR Technology Co.,Ltd., Canadian Solar Inc., Risen Energy Co., Ltd., First Solar Inc., Hanwha Group., Golden Concord Holdings Limited, CHINT Group, Wuxi Suntech Power Co., Ltd., and Adani Group, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Technology
  • Deployment
  • Connectivity
  • End Use
  • Region
Breakup by Technology
  • Thin film
  • Multi-Si
  • Mono-Si
  • Others
Breakup by Deployment
  • Ground-mounted
  • Rooftop Solar
Breakup by Connectivity
  • On-grid
  • Off-grid
Breakup by End Use
  • Residential
  • Commercial
  • Utility
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • LONGi Green Energy Technology Co., Ltd.
  • Jinko Solar Co., Ltd.
  • Trina Solar
  • JA SOLAR Technology Co.,Ltd.
  • Canadian Solar Inc.
  • Risen Energy Co., Ltd.
  • First Solar Inc.
  • Hanwha Group.
  • Golden Concord Holdings Limited
  • CHINT Group
  • Wuxi Suntech Power Co., Ltd.
  • Adani Group
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Application
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Solar Photovoltaic (PV) Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Solar Photovoltaic (PV) Historical Market (2018-2022) 
    8.3    Global Solar Photovoltaic (PV) Market Forecast (2023-2028)
    8.4    Global Solar Photovoltaic (PV) Market by Technology
        8.4.1    Thin film
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Multi-Si
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Mono-Si
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Others
    8.5    Global Solar Photovoltaic (PV) Market by Deployment
        8.5.1    Ground-mounted
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Rooftop Solar
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global Solar Photovoltaic (PV) Market by Connectivity
        8.6.1    On-grid
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Off-grid
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Solar Photovoltaic (PV) Market by End Use
        8.7.1    Residential
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Commercial
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Utility
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
    8.8    Global Solar Photovoltaic (PV) Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Solar Photovoltaic (PV) Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Solar Photovoltaic (PV) Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Solar Photovoltaic (PV) Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Solar Photovoltaic (PV) Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Solar Photovoltaic (PV) Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    EMR’s Key Indicators for Demand
    14.4    EMR’s Key Indicators for Price
15    Installation Cost
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    LONGi Green Energy Technology Co., Ltd.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Jinko Solar Co., Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Trina Solar
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    JA SOLAR Technology Co.,Ltd.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Canadian Solar Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Risen Energy Co., Ltd.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    First Solar Inc.
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Hanwha Group.
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Golden Concord Holdings Limited
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    CHINT Group
            16.2.10.1    Company Overview
            16.2.10.2    Product Portfolio
            16.2.10.3    Demographic Reach and Achievements
            16.2.10.4    Certifications
        16.2.11    Wuxi Suntech Power Co., Ltd.
            16.2.11.1    Company Overview
            16.2.11.2    Product Portfolio
            16.2.11.3    Demographic Reach and Achievements
            16.2.11.4    Certifications
        16.2.12    Adani Group
            16.2.12.1    Company Overview
            16.2.12.2    Product Portfolio
            16.2.12.3    Demographic Reach and Achievements
            16.2.12.4    Certifications
        16.2.13    Others
17    Key Trends and Developments in the Market


List of Figures and Tables

1.    Global Solar Photovoltaic (PV) Market: Key Industry Highlights, 2018 and 2028
2.    Global Solar Photovoltaic (PV) Historical Market: Breakup by Forecasting Type (USD Million), 2018-2022
3.    Global Solar Photovoltaic (PV) Market Forecast: Breakup by Forecasting Type (USD Million), 2023-2028
4.    Global Solar Photovoltaic (PV) Historical Market: Breakup by Organisation Size (USD Million), 2018-2022
5.    Global Solar Photovoltaic (PV) Market Forecast: Breakup by Organisation Size (USD Million), 2023-2028
6.    Global Solar Photovoltaic (PV) Historical Market: Breakup by End Use (USD Million), 2018-2022
7.    Global Solar Photovoltaic (PV) Market Forecast: Breakup by End Use USD Million), 2023-2028
8.    Global Solar Photovoltaic (PV) Historical Market: Breakup by Region (USD Million), 2018-2022
9.    Global Solar Photovoltaic (PV) Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    North America Solar Photovoltaic (PV) Historical Market: Breakup by Country (USD Million), 2018-2022
11.    North America Solar Photovoltaic (PV) Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Europe Solar Photovoltaic (PV) Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Europe Solar Photovoltaic (PV) Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Asia Pacific Solar Photovoltaic (PV) Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Asia Pacific Solar Photovoltaic (PV) Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Latin America Solar Photovoltaic (PV) Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Latin America Solar Photovoltaic (PV) Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Middle East and Africa Solar Photovoltaic (PV) Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Middle East and Africa Solar Photovoltaic (PV) Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Global Solar Photovoltaic (PV) Market Structure

Key Questions Answered in the Report

In 2021, the global market for solar photovoltaic (PV)s attained a value of nearly 884.4 GW.

The market is assessed to grow at a CAGR of 23.30% between 2023 and 2028.

The market is estimated to witness healthy growth in the forecast period of 2023-2028 to reach almost 3107.61 GW by 2027.

The major market drivers are growing populations, increasing number of off-grid areas, and high demands for electricity.

The key trends for the solar photovoltaic (PV) market include rapid technological advancements and increasing demand for renewable electricity

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The various technologies for solar photovoltaics include thin film, multi-Si, and mono-Si, among others.

The various deployments of solar photovoltaics include ground-mounted and rooftop solar.

The various connectivity options in the market include on-grid and off-grid.

The different end-user in the market for solar photovoltaics include residential, commercial, and utility.

The major players in the market are LONGi Green Energy Technology Co., Ltd., Jinko Solar Co., Ltd., Trina Solar, JA SOLAR Technology Co.,Ltd., Canadian Solar Inc., Risen Energy Co., Ltd., First Solar Inc., Hanwha Group., Golden Concord Holdings Limited, CHINT Group, Wuxi Suntech Power Co., Ltd., and Adani Group, among others.

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  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3199     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

$ 4199     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5199     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

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Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

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