The global solar photovoltaic (PV) market size was valued at $118,704 million in 2016, and is anticipated to grow at a CAGR of 15.0% to reach $307,204 million during 2017 to 2023. Photovoltaic (PV) materials are devices, which convert sunlight into electrical energy. These are also known as solar cells and are made of several semiconductor materials. Single photovoltaic device is known as a cell, which is majorly small and produces about 1 to 2 watts of power. Moreover, these cells are connected in series to form larger units called modules to boost the power output of photovoltaic cells. Modules are utilized individually multiple modules can be connected to form arrays. One or more arrays are then connected to the electrical grid, which forms a complete PV system. Therefore, due to formation of this modular structure, these systems are built to meet small to big power requirements.
This report projects the trends and opportunities of the global solar photovoltaic (PV) installation market. This research study includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period.
The global solar photovoltaic installation market gains demand owing to the availability of solar energy and increase in demand for electricity. Moreover, various encouraging steps taken by government to promote this mode of power generation and formation of multiple policies is expected to act as a motivating factor for market growth. In addition, increase in demand for solar energy from residential, utility-scale, and commercial sectors is another factor that boosts the market growth. Furthermore, affordability of these installations has increased owing to high levels of market competition. Rise in property value, durability, and decrease in utility bills also contribute to the market growth in residential areas.
The global solar photovoltaic (PV) installation market is segmented based on technology, grid-type, end use, and geography. On the basis of technology, it is classified into thin film, crystalline silicon, and others (organic and concentrator photovoltaics). Crystalline silicon is further sub-segmented into mono and multi crystalline. On the basis of grid type, it is bifurcated into grid connected and off-grid. Grid connected is further segmented into centralized and decentralized. By end use, the market is categorized into residential, commercial, and utility scale. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key market players in this sector include Suntech Power Holding Co. Ltd., Sun Power Corporation, First Solar Inc., Yingli Green Energy Holding Co. Ltd., Canadian Solar Inc., Schott Solar Ag., Sharp Corporation, Solar World Ag, Jinko Solar Holding Company Ltd. Corporation, and Trina Solar Ltd.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTATION
By Technology
By Grid-Type
By End-Use
By Geography
The other players in the value chain (profiles not included in the report) are:
*The above list of companies is not profiled in the report, but can be added based on client interest.
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