Summary

Solar Photovoltaic Market Size, Share, and Analysis, By Technology (Monocrystalline Silicon, Thin Film, and Polycrystalline Silicon), By Grid Type (On-grid and Off-grid), By Installation (Ground Mounted, Rooftop, and Others), By Application (Residential, Non-residential, and Utilities), By Region (North America, Europe, Asia-Pacific, And Rest of the World), And Regional Forecast 2024-2034

PRODUCT OVERVIEW
Solar Photovoltaic Market is anticipated to grow at a CAGR of 13.9% in the forecast period (2024-2034), with the market size valued at USD 171.8 billion in 2023 and projected to reach USD 718.3 billion by 2034.
Solar photovoltaic (PV) technology is a method of converting sunlight into electricity using semiconductor materials. When sunlight interacts with these materials, it stimulates electrons and generates an electric current. This mechanism is known as the photovoltaic effect and is used to generate power in solar cells. Solar PV systems are typically made up of several solar panels, each with many interconnected solar cells. These panels are organized into arrays and can be deployed on rooftops, ground-mounted structures, or installed into building facades. In addition, solar PV technology is renowned for its sustainability and offers a sustainable energy alternative with minimum environmental impact. Its vast adoption in residential, commercial, and utility-scale applications has been crucial in global attempts to transition to renewable energy sources and lower carbon emissions.

MARKET HIGHLIGHTS
Solar Photovoltaic Market is anticipated to reach USD 718.3 billion, growing at a CAGR of 13.9% during the forecast period, due to various factors including growing awareness of climate change and reducing costs of solar panel installations. Recent technological innovations have improved the efficiency of photovoltaic technology and simultaneously reduced installation expenses. Moreover, the utility-scale segment has emerged as a dominant force due to large-scale solar projects and supportive policies that advocate for the integration of renewable energy into the grid. Furthermore, the residential and commercial sectors are experiencing notable growth, driven by incentives and a growing demand for energy autonomy. Therefore, as solar PV is increasingly competing with conventional energy sources, the market will witness growth and offer significant opportunities for stakeholders to create a sustainable energy environment.

Solar Photovoltaic Market Segments:
• By Technology
o Monocrystalline Silicon
o Thin Film
o Polycrystalline Silicon
• By Grid Type
o On-grid
o Off-grid
• By Installation
o Ground Mounted
o Rooftop
o Others
• By Application
o Residential
o Non-residential
o Utilities

MARKET DYNAMICS
Growth Drivers
Technological Advancements Have Played a Crucial Role in the Growth of the Market
Favourable Government Policies and Incentives Exert a Strong Influence on the Growing Adoption of Solar Energy
Restraint
Intermittency and Grid Integration Challenges Pose Significant Hurdles for the Market

Key Players
• First Solar Inc.
• Canadian Solar Inc.
• JinkoSolar Holding Co., Ltd.
• SunPower Corporation
• Trina Solar Ltd.
• LONGi Solar
• Hanwha Q Cells Co., Ltd.
• JA Solar Holdings Co., Ltd.
• Yingli Solar
• Risen Energy Co., Ltd.
• SolarEdge Technologies Inc.
• SMA Solar Technology AG
• Enphase Energy Inc.
• Huawei Technologies Co., Ltd.
• REC Group
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:
• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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Table of Contents

1.Executive Summary
1.1. Regional Market Share
1.2.Business Trends
1.3. Solar Photovoltaic Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. Research Methodology
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. Market Characteristics
3.1.Market Definition
3.2.Solar Photovoltaic Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.Solar Photovoltaic Market – Industry Insights
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. Macroeconomic Indicators
6. Recent Developments
7. Market Dynamics
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.Risk Analysis
9. Market Analysis
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.Solar Photovoltaic Market
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. Solar Photovoltaic Market Size & Forecast 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Technology
11.3.1.1. Monocrystalline Silicon
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Thin Film
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
11.3.1.3.Polycrystalline Silicon
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Grid Type
11.3.2.1.On-grid
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Off-grid
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Installation
11.3.3.1.Ground Mounted
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Rooftop
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By Application
11.3.4.1.Residential
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. Non-residential
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Utilities
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
12.North America Solar Photovoltaic Market Size & Forecast 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Technology
12.3.2.By Grid Type
12.3.3.By Installation
12.3.4. By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13.Europe Solar Photovoltaic Market Size & Forecast 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Technology
13.3.2.By Grid Type
13.3.3.By Installation
13.3.4. By Application
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.Asia-Pacific Solar Photovoltaic Market Size & Forecast 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Technology
14.3.2. By Grid Type
14.3.3. By Installation
14.3.4. By Application
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.Middle East and Africa Solar Photovoltaic Market Size & Forecast 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Technology
15.3.2.By Grid Type
15.3.3.By Installation
15.3.4. By Application
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. Latin America Solar Photovoltaic Market Size & Forecast 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Technology
16.3.2.By Grid Type
16.3.3.By Installation
16.3.4. By Application
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. Competitive Landscape
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. Company Profiles
18.1.First Solar Inc.
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Canadian Solar Inc.
18.3. JinkoSolar Holding Co., Ltd.
18.4.SunPower Corporation
18.5.Trina Solar Ltd.
18.6.LONGi Solar
18.7.Hanwha Q Cells Co., Ltd.
18.8.JA Solar Holdings Co., Ltd.
18.9.Yingli Solar
18.10.Risen Energy Co., Ltd.
18.11. SolarEdge Technologies Inc.
18.12.SMA Solar Technology AG
18.13.Enphase Energy Inc.
18.14.Huawei Technologies Co., Ltd.
18.15.REC Group
18.16.Other Prominent Players
19. Appendix
20.Consultant Recommendation