Solar Photovoltaic (PV) Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

The photovoltaic energy extracted from the sun is known as solar photovoltaic (PV). The solar energy uses a photovoltaic effect-based technique to turn sunlight into electricity. The solar power is the most dependable and plentiful renewable energy source on the planet. It demonstrates that it is a viable alternative to fossil fuels, which are now harming the environment and contributing to the global warming. The rising demand for sustainable energy supplies, combined with favorable government legislation aimed at reducing reliance on fossil fuels, is projected to be a major driver for the growth of the solar photovoltaic (PV) market during the forecast period.

MARKET SCOPE

The "Global Solar photovoltaic cell (PV) Market Analysis to 2031" is a specialized and in-depth study of the Solar photovoltaic cell (PV) market with a special focus on the global market trend analysis. The report aims to provide an overview of solar photovoltaic cell (PV) market with detailed market segmentation by technology, grid type, installation, application, and geography. The global solar photovoltaic cell (PV) market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar photovoltaic cell (PV) market players and offers key trends and opportunities in the solar photovoltaic cell (PV) market.

MARKET SEGMENTATION

•  The global solar photovoltaic cell (PV) market is segmented on the basis of technology, grid type, installation, application.
  
•  On the basis of technology, the market is segmented as monocytslaline silicon thin film, polycrystalline silicon, others.
  
•  On the basis of grid type the market is segmented into on-grid, and off-grid.
  
•  On the basis of installation the market is segmented into ground mounted, rooftop, and others.
  
•  On the basis of application the market is segmented into residential, nonresidential, and utilities.
  

MARKET DYNAMICS

Drivers:

•  Surge in demand for electricity.
  
•  Rising demand for sustainable energy supplies.
  

Restraints:

•  Lack of huge areas.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Solar photovoltaic cell (PV) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Solar photovoltaic cell (PV) market in these regions.

IMPACT OF COVID-19 ON SOLAR PHOTOVOLTAIC CELL (PV) MARKET

The solar photovoltaic cell (PV) market is expected to decline in 2021, mainly due to the impact of COVID-19. Governments of several major economies have enforced lockdowns to curb the spread of COVID-19. With lockdown in place, manufacturing activities have been affected significantly. For instance, in January 2021, the Chinese government announced a lockdown of more than 30 days to tackle COVID-19. As the majority of the PV modules are manufactured in China, the production and supply chain has taken a significant hit. For instance, India imports ~80% of its solar value chain supplies from China. The lockdown had drastically affected the manufacturing capacity of China, as all major ship container companies had also stopped functioning out of Chinese ports and transporting goods from China to other countries. This resulted in supply chain disruptions in March and April 2021. Also, lockdown implemented in other countries caused supply chain disruptions and labor shortages in the PV industry. Companies were not able to source the required labor for their operations due to travel restrictions. Though the market is expected to be impacted in 2021, recovery is expected to commence in 2021, with full recovery by 2022.

MARKET PLAYERS

The report covers key developments in the solar photovoltaic cell (PV) market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Solar photovoltaic cell (PV) market market are anticipated to lucrative growth opportunities in the future with the rising demand for solar photovoltaic cell (PV) market in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the solar photovoltaic cell (PV) market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  First Solar Inc.
  
•  Sharp Corporation
  
•  Suntech Power Holding Co. Ltd
  
•  JinkoSolar Holding Co. Ltd
  
•  JA Solar Holdings Co. Ltd
  
•  Trina Solar Ltd
  
•  Hanwha Q Cells Co. Ltd
  
•  Acciona SA
  
•  Canadian Solar Inc.
  
•  SunPower Corporation.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Solar Photovoltaic (PV) Report Scope