Solar PV Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR71357
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The solar PV market share is expected to increase by 142.64 GW from 2021 to 2025, and the market’s growth momentum will decelerate at a CAGR of 15.24%.

This solar PV market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (utility, commercial, and residential) and geography (APAC, Europe, North America, South America, and MEA). The solar PV market report also offers information on several market vendors, including Adani Green Energy Ltd., Canadian Solar Inc., First Solar Inc., Flisom AG, Greatcell Energy Pty Ltd., JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., TotalEnergies SE, Waaree Energies Ltd., and Yingli Green Energy Holding Co. Ltd. among others.

What will the Solar PV Market Size be in 2021?

Download the Free Report Sample to Unlock the Solar PV Market Size for 2021 and Other Important Statistics

 

Solar PV Market: Key Drivers and Trends

The increasing investments in renewable energy are notably driving the solar photovoltaic market growth, although factors such as the increasing number of alternative energy sources may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the solar PV industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The increasing investments in renewable energy will fuel the growth of the solar PV market size.
  • The competitive cost of producing electricity and low carbon emissions from renewable sources led to an increase in investments in renewable energy across the world.
  • Several countries in Europe, such as Norway, Iceland, and Sweden, rely on renewable sources for more than half of their total annual power demand due to the implementation of stringent emission norms.
  • The increased focus on renewable energy sources is increasing investments in the energy industry, which will drive the growth of the global solar PV market during the forecast period.
  • The favorable government regulations will drive the solar PV market growth during the forecast period.
  • Governments across the world support the adoption of solar PV systems by providing incentives, subsidies, and tax benefits to producers and consumers.
  • In the US, the investment tax credit (ITC) is an important federal policy developed to support the adoption of solar PV energy in the country.
  • Many countries are formulating policies to promote the development and adoption of solar power technologies.
  • Governments are introducing different policies for various types of solar PV installations, such as ground-mounted installations, roof-mounted installations, and the installation of freestanding facilities.

This solar PV market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Solar PV Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Adani Green Energy Ltd.
  • Canadian Solar Inc.
  • First Solar Inc.
  • Flisom AG
  • Greatcell Energy Pty Ltd.
  • JA Solar Technology Co. Ltd.
  • JinkoSolar Holding Co. Ltd.
  • TotalEnergies SE
  • Waaree Energies Ltd.
  • Yingli Green Energy Holding Co. Ltd.

 

This statistical study of the solar PV market encompasses successful business strategies deployed by the key vendors. The solar photovoltaic market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The solar PV market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Solar PV Market?

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51% of the market’s growth will originate from APAC during the forecast period. China, Vietnam, Japan, and Australia are the key markets for solar PV in APAC. However, the market growth rate in APAC will be slower than the growth of the market in other regions.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Solar PV Market?

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The solar PV market share growth by the utility segment will be significant during the forecast period. The installation of large-scale solar power plants to generate clean energy and reduce carbon emissions is increasing. This is also attributed to the increasing addition of utility-scale solar PV capacity around the globe. A steady increase in renewable energy auction volume positively impacted the segment growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the solar photovoltaic market size and actionable market insights on post COVID-19 impact on each segment.

 

Solar PV Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 15.24%

Market growth 2021-2025

142.64 GW

Market structure

Fragmented

YoY growth (%)

17.75

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 51%

Key consumer countries

China, US, Vietnam, Japan, and Australia

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

Adani Green Energy Ltd., Canadian Solar Inc., First Solar Inc., Flisom AG, Greatcell Energy Pty Ltd., JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., TotalEnergies SE, Waaree Energies Ltd., and Yingli Green Energy Holding Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Solar PV Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive solar PV market growth during the next five years
  • Precise estimation of the solar PV market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar photovoltaic industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of solar photovoltaic market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Utility - Market size and forecast 2020-2025
    • Commercial - Market size and forecast 2020-2025
    • Residential - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Adani Green Energy Ltd.
      • Canadian Solar Inc.
      • First Solar Inc.
      • Flisom AG
      • Greatcell Energy Pty Ltd.
      • JA Solar Technology Co. Ltd.
      • JinkoSolar Holding Co. Ltd.
      • TotalEnergies SE
      • Waaree Energies Ltd.
      • Yingli Green Energy Holding Co. Ltd.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The solar pv market growth will increase by $142.64 GW during 2020-2025.
      The solar pv market is expected to grow at a CAGR of 15.24% during 2020-2025.
      Technavio has segmented the solar pv market by end user (Utility, Commercial, and Residential) and geographic (APAC, Europe, North America, South America, and MEA).
      Adani Green Energy Ltd., Canadian Solar Inc., First Solar Inc., Flisom AG, Greatcell Energy Pty Ltd., JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., TotalEnergies SE, Waaree Energies Ltd., Yingli Green Energy Holding Co. Ltd. are a few of the key vendors in the solar pv market.
      APAC will register the highest growth rate of 50.68% among the other regions. Therefore, the solar pv market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • Vietnam
      • Japan
      • Australia
      The key factors driving the solar pv market growth are:
      • Increasing investments in renewable energy
      The solar pv market vendors should focus on grabbing business opportunities from the utility segment as it accounted for the largest market share in the base year.
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