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From 2024–2031, the worldwide market for solar photovoltaic (PV) modules is expected to expand from an initial valuation of $127.29B to a final value of $260.12B, a compound annual growth rate (CAGR) of 9.4 percent.
One way to harness the power of the sun is with a solar PV module, which is a stacked semiconductor module made of silicon. An increase in the number of hours that the module is exposed to sunlight enhances the flow of electrons, creating this photovoltaic effect. Due to technological advancements and the fact that solar power can generate grid parity with conventional energy resources, solar PV modules have recently dominated the renewable energy market. Solar power uses sunlight to produce direct current electricity through photovoltaic cells.
Solar photovoltaic (PV) modules are stacks of silicon-based semiconductors that can convert sunlight into usable electricity. An increase in the amount of time the module is exposed to sunlight can enhance the photovoltaic effect, which is caused by the movement of electrons within the module. Solar photovoltaic (PV) modules have recently ruled the renewable energy industry because solar electricity has the ability to reach grid parity with traditional energy resources and technology advancements. Solar energy is converted into direct current electricity by means of photovoltaic cells.
Legislative energy rules and incentives are supporting a decarbonized economy, which is the primary factor influencing market growth patterns. Solar photovoltaics (PV) and other renewable energy sources have recently been emboldened by government incentives and other supportive measures. One example is the 2019 solar tax credit proposal by the US government, which aims to reduce the cost of installing a solar energy system by 30%. Market demand will also rise as a result of decreasing prices, increasing efforts to optimize LCOE, and better conversion efficiency.
Rising PV component prices and widespread supply chain interruptions meant that the solar PV module market was mostly unaffected by the pandemic. The latent demand for solar PV modules was further exacerbated by the general slowdown in the construction industry. The entire deployment of PV was delayed because multiple production units were shut down as a result of the lockdown restrictions. Another factor that will help the business out in the future is the trend among manufacturers to generate energy locally and decentralizedly.
Crystalline solar PV modules are expected to experience fast growth due to supportive government renewable energy targets, with a primary concentration on solar power. Innovations in product processes, optimization, and modernization are poised to revolutionize the sector. These developments will lead to higher power output, more precise manufacturing, lower installation costs, and improved environmental compatibility. Financial leverage, tax incentives, and Feed-in-Tariff (FiT) schemes are just a few of the many programs that will encourage increasing investment in solar PV modules from both public and private sources.
With an emphasis on worldwide market trend analysis, the "Global Solar PV Module Market Analysis To 2028" is an expert and comprehensive assessment of the media, technology, and telecoms sector. The purpose of this research is to offer a synopsis of the solar PV module industry by breaking it down into specific submarkets according to technology, product, connection, mounting, application, and region. Over the next few years, the worldwide market for solar PV modules is predicted to experience significant expansion. This research gives essential data on the current state of the market for solar PV modules, as well as important trends and opportunities in the industry.
Products will be more widely used in commercial and residential settings if they can manage modest power loads, such as those associated with refrigeration, lighting, telephony, and water pumping. The market potential for solar PV modules is expected to be greatly enhanced by the increasing number of electrification projects in rural areas and the fast trend toward energy storage. The off-grid solar PV installations will be driven by rising electricity demand and the inadequate grid infrastructure in developing nations.
Report Coverage
Global Solar PV Module research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Solar PV Module report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Solar PV Module competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Solar PV Module market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Solar PV Module market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Solar PV Module market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Trina Solar, Canadian Solar, JA SOLAR Technology Co.Ltd., Jinko Solar, First Solar, REC Solar Holdings AS, GCL-SI, Hanwha Group, CsunSolarTech, The Solaria Corporation, LG Electronics, Yingli Solar, Shunfeng International Clean Energy Co.Ltd, RENESOLA, EMMVEE SOLAR, Shemzhen shine solar co.Ltd, Motech Industries Inc., SOLAR FRONTIER K.K., SunPower Corporation, RISEN ENERGY Co. LTD, Indosolar, VIKRAM SOLAR LTD, Su-vastika Systems Private Limited, LONGi.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Solar PV Module market based on the below-mentioned segments:
Global Solar PV Module Market, By Product
Monocrystalline
Polycrystalline
Cadmium Telluride
Amorphous Silicon
Copper Indium Gallium Diselenide
Global Solar PV Module market, By Technology
Thin Film
Crystalline Silicon
Global Solar PV Module Market, By End User
Residential
Commercial
Utility
Global Solar PV Module market, Regional Analysis
One way to harness the power of the sun is with a solar PV module, which is a stacked semiconductor module made of silicon. An increase in the number of hours that the module is exposed to sunlight enhances the flow of electrons, creating this photovoltaic effect. Due to technological advancements and the fact that solar power can generate grid parity with conventional energy resources, solar PV modules have recently dominated the renewable energy market. Solar power uses sunlight to produce direct current electricity through photovoltaic cells.
Solar photovoltaic (PV) modules are stacks of silicon-based semiconductors that can convert sunlight into usable electricity. An increase in the amount of time the module is exposed to sunlight can enhance the photovoltaic effect, which is caused by the movement of electrons within the module. Solar photovoltaic (PV) modules have recently ruled the renewable energy industry because solar electricity has the ability to reach grid parity with traditional energy resources and technology advancements. Solar energy is converted into direct current electricity by means of photovoltaic cells.
Legislative energy rules and incentives are supporting a decarbonized economy, which is the primary factor influencing market growth patterns. Solar photovoltaics (PV) and other renewable energy sources have recently been emboldened by government incentives and other supportive measures. One example is the 2019 solar tax credit proposal by the US government, which aims to reduce the cost of installing a solar energy system by 30%. Market demand will also rise as a result of decreasing prices, increasing efforts to optimize LCOE, and better conversion efficiency.
Rising PV component prices and widespread supply chain interruptions meant that the solar PV module market was mostly unaffected by the pandemic. The latent demand for solar PV modules was further exacerbated by the general slowdown in the construction industry. The entire deployment of PV was delayed because multiple production units were shut down as a result of the lockdown restrictions. Another factor that will help the business out in the future is the trend among manufacturers to generate energy locally and decentralizedly.
Crystalline solar PV modules are expected to experience fast growth due to supportive government renewable energy targets, with a primary concentration on solar power. Innovations in product processes, optimization, and modernization are poised to revolutionize the sector. These developments will lead to higher power output, more precise manufacturing, lower installation costs, and improved environmental compatibility. Financial leverage, tax incentives, and Feed-in-Tariff (FiT) schemes are just a few of the many programs that will encourage increasing investment in solar PV modules from both public and private sources.
With an emphasis on worldwide market trend analysis, the "Global Solar PV Module Market Analysis To 2028" is an expert and comprehensive assessment of the media, technology, and telecoms sector. The purpose of this research is to offer a synopsis of the solar PV module industry by breaking it down into specific submarkets according to technology, product, connection, mounting, application, and region. Over the next few years, the worldwide market for solar PV modules is predicted to experience significant expansion. This research gives essential data on the current state of the market for solar PV modules, as well as important trends and opportunities in the industry.
Products will be more widely used in commercial and residential settings if they can manage modest power loads, such as those associated with refrigeration, lighting, telephony, and water pumping. The market potential for solar PV modules is expected to be greatly enhanced by the increasing number of electrification projects in rural areas and the fast trend toward energy storage. The off-grid solar PV installations will be driven by rising electricity demand and the inadequate grid infrastructure in developing nations.
Report Coverage
Global Solar PV Module research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Solar PV Module report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Solar PV Module competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Solar PV Module market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Trina Solar, Canadian Solar, JA SOLAR Technology Co.Ltd., Jinko Solar, First Solar, REC Solar Holdings AS, GCL-SI, Hanwha Group, CsunSolarTech, The Solaria Corporation, LG Electronics, Yingli Solar, Shunfeng International Clean Energy Co.Ltd, RENESOLA, EMMVEE SOLAR, Shemzhen shine solar co.Ltd, Motech Industries Inc., SOLAR FRONTIER K.K., SunPower Corporation, RISEN ENERGY Co. LTD, Indosolar, VIKRAM SOLAR LTD, Su-vastika Systems Private Limited, LONGi. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Solar PV Module Market from 2021 to 2031.
- Market Forecast for Solar PV Module Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Solar PV Module competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Solar PV Module
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Solar PV Module market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Solar PV Module market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Trina Solar, Canadian Solar, JA SOLAR Technology Co.Ltd., Jinko Solar, First Solar, REC Solar Holdings AS, GCL-SI, Hanwha Group, CsunSolarTech, The Solaria Corporation, LG Electronics, Yingli Solar, Shunfeng International Clean Energy Co.Ltd, RENESOLA, EMMVEE SOLAR, Shemzhen shine solar co.Ltd, Motech Industries Inc., SOLAR FRONTIER K.K., SunPower Corporation, RISEN ENERGY Co. LTD, Indosolar, VIKRAM SOLAR LTD, Su-vastika Systems Private Limited, LONGi.
Primary Target Market
- Market Players of Solar PV Module
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Solar PV Module market based on the below-mentioned segments:
Global Solar PV Module Market, By Product
Monocrystalline
Polycrystalline
Cadmium Telluride
Amorphous Silicon
Copper Indium Gallium Diselenide
Global Solar PV Module market, By Technology
Thin Film
Crystalline Silicon
Global Solar PV Module Market, By End User
Residential
Commercial
Utility
Global Solar PV Module market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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