Photovoltaic Market Research Scope And Analysis

Report Code : TIPTE100000386
Category : Electronics and Semiconductor

Status : Published
No. of Pages : 154

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Photovoltaic Market Analysis and Scope (2019 to 2027)

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Photovoltaic Market Report Scope

Report Attribute	Details
Market size in 2018	US$ 153.9 Billion
Market Size by 2027	US$ 768.1 Billion
Global CAGR (2018 - 2027)	19.8%
Historical Data	2016-2017
Forecast period	2019-2027
Segments Covered	By Application Residential Applications Commercial Utility Applications By Type Organic Components and Inorganic Components By Component Cells Optics Trackers
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Mitsubishi Electric Corporation Panasonic Corporation Kaneka Corporation KYOCERA Corporation Sharp Corporation JA Solar Co Ltd Renesola Co Ltd Trina Solar Jinko Solar

Component-Based Market Insights

Photovoltaic cells consist of two or more thin layers of semi-conducting material. The most commonly used material in the photovoltaic cell is silicon. The semiconductor cells are exposed to light to generate electrical charges, and this can be conducted by metal contacts as direct current (DC) and thus increasing adoption of PV cells will rise the global photovoltaic market size in the forecast period.

Players operating in the photovoltaic market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the photovoltaic market. A few developments by key players are listed below:

In 2021, Royal Dutch Shell PLC debuted its 25-megawatt Qabas solar facility. The project is made up of over 88,000 solar modules, is located on a 50-hectare location in northern Oman's Sohar Free Zone. It aids in the reduction of around 25,000 metric tons of CO2 emissions per year.
In 2021, the 300 MW Sakaka PV IPP, the country's first utility-scale renewable energy project, was inaugurated by ACWA Power at a cost of SAR 1.2 billion. ACWA Power was awarded the project at a world-record tariff of US$ 2.3417 cents per kWh (8.781 halalas per kWh).