WorldWide Solar PV Module Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Solar PV Module Market

Industry / Sector Trends

Solar PV Module Market size surpassed USD 20 billion in 2016 and is anticipated to grow at a rate of over 4% from 2017 to 2024.
 Government concern toward greenhouse gas (GHG) emissions along with paradigm shift toward adoption of renewable power generation sources will positively influence the solar PV module market landscape. In addition, increasing electricity consumption in line with growing electrification index will complement the business dynamics in the coming years.
 

Favorable regulatory schemes comprising of feed in tariff, net metering and subsidy to enhance the adoption of solar energy among end users coupled with rising research and development activities to enhance the operational performance will boost the product adoption. For instance, in 2019, researchers in the U.S. developed a prototype for solar cell comprising 44.5% efficiency.
 
Market Segmentation, Outlook & Regional Insights: Solar PV Module Market


 By Technology

Thin film solar industry is anticipated to witness significant upsurge owing to installation of utility scale power projects coupled with rising industry efforts toward integration of automated solar technology. Furthermore, ease of manufacturing, high conversion efficiency, and low production cost are few prime factors making its deployment favorable when compared to other technologies.
 

Crystalline silicon based solar PV module market is projected to surpass 6% by 2024. Growing government measures toward adoption of solar technology in line with shifting focus on research and development (R&D) expenditure to improve efficiency will positively drive the product adoption in the coming years.
 

By Product

Amorphous Silicon module industry size in 2016 was valued above USD 2 Billion. Capability to integrate several film layers along with high light sensitivity, lightweight, durability, are few of the indispensable parameters positively driving the business landscape over the forecast timeframe.
 

Increasing demand for optimum resource utilization in line with growing emphasis on sustainable power generation will positively influence the Copper Indium Gallium Di-selenide (CIGS) panel industry growth. Furthermore, product flexibility, and heat resistance are some of the key parameter making its adoption favorable in comparison to other technologies.
 

 By Connectivity

Off grid solar PV module market is projected to grow at rate of over 8% by 2024. Positive regulatory reforms toward decentralized power generation coupled with growing energy demand from remote locations will stimulate the industry growth over the forecast timeline.
 

On gird PV industry is anticipated to witness considerable upsurge owing to initiatives aimed to grid integrate utility scale projects along with increasing technical and financial assistance from regulatory bodies to enhance the penetration of clean power generation sources. Rising government efforts to provide reliable and uninterruptible electricity supply coupled with growing concern toward limited availability of fossil fuel will boost the product adoption.
 

 By Mounting

Ongoing infrastructure expansion along with increasing research and innovation (R&I) activities to enhance operational life will stimulate the ground mounted PV module industry share. Positive regulatory schemes comprising of net metering, subsidies, and FITs will complement the business outlook.
 

Rooftop segment will witness robust growth over the forecast period. Shifting focus of regulators to integrate roof top solar system across residential and commercial establishment will drive the business growth. In addition, rising concerns to reduce GHG emissions in line with rising awareness about climate change among consumers will further drive the industry dynamics.
 

By End-Use

Surging electricity demand from data centers, & communication base stations along with rapid installation of solar panels across hotels, hospitals, & corporate offices will dive the product demand. Module level monitoring, higher energy yield and improved panel efficiency are few of the prime features making its adoption preferable among commercial users.
 

Utility integrated solar PV module market will witness considerable upsurge owing to growing demand for clean electricity coupled with ambitious plan to limit carbon emissions. Rising government efforts to achieve renewable energy targets along with introduction of favorable schemes comprising FiT, and tax credit will boost the product deployment.
 

 By Region

Africa solar PV module industry size in 2016 was valued above USD 280 million. Abundant solar energy potential in line with growing electrification index across the region will strengthen the industry outlook. Rising fund flow from international financial institutions along with large land availability will proliferate the business dynamics. For instance, in 2019, World Bank and IFC announced to support Scaling Solar Program in Zambia for a 48 MW solar PV project.
 

Key Players, Recent Developments & Sector Viewpoints: Solar PV Module Market


Major industry participants across the solar PV module market comprise of Canadian Solar, Trina, Jinko, JA Solar, First Solar, Hanwha Q-Cell, Yingli, SFCE, SunPower, ReneSola, Vikram Solar, Su Kam, Lanco, Moser Baer, GCL, Moser Baer, Shine Solar, Motech Solar, and Hareon amongst others.
 

Rigorous research and development activities along with enhanced turnkey solutions have established a competitive business scenario. Furthermore, industry efforts to increase panel efficiency along with improving its operational life will further propel the industry dynamics in the coming years.
 

Industry Viewpoint

 
 

Solar PV modules absorb sunlight to produce electricity. An array of modules combinedly generate electricity to feed power to the facility. These panels are majorly deployed across industries, utilities, and residential consumers to cater rising energy demand

Key Insights Covered: Exhaustive Solar PV Module Market
1.  Market size (sales, revenue and growth rate) of Solar PV Module industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Solar PV Module industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Solar PV Module industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Solar PV Module industry.

Research Methodology: Solar PV Module Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.