The global market for Photovoltaics was estimated at US$91.4 Billion in 2023, and is projected to reach US$136.6 Billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Key Insights:
Market Growth: Understand the significant growth trajectory of the Photovoltaic Modules segment, which is expected to reach US$68.0 Billion by 2030 with a CAGR of a 6.3%. The Photovoltaic Inverters segment is also set to grow at 5.1% CAGR over the analysis period.
Regional Analysis: Gain insights into the U.S. market, estimated at $24.3 Billion in 2023, and China, forecasted to grow at an impressive 10.1% CAGR to reach $32.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
Detailed Market Analysis: Access a thorough analysis of the Global Photovoltaics Market, covering all major geographic regions and market segments.
Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Photovoltaics Market.
Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
How is the Global Photovoltaics Market expected to evolve by 2030?
What are the main drivers and restraints affecting the market?
Which market segments will grow the most over the forecast period?
How will market shares for different regions and segments change by 2030?
Who are the leading players in the market, and what are their prospects?
Report Features:
Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of major players such as Canadian Solar, Inc., Ja Solar Co. Ltd., JinkoSolar Holding Co., Ltd., and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 43 Featured):
Canadian Solar, Inc.
Ja Solar Co. Ltd.
JinkoSolar Holding Co., Ltd.
Kaneka Corporation
Kyocera Corporation
Mitsubishi Electric Corporation
Panasonic Corporation
Renesola Co. Ltd.
Sharp Corporation
Trina Solar Ltd.
Wuxi Suntech Power Co., Ltd.
Yingli Green Energy Holding Co., Ltd.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Photovoltaics - Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
Global Economic Update
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Increasing Adoption of Renewable Energy Sources Propels Market Growth
Technological Advancements in Solar Panel Efficiency Drives Demand
Declining Costs of Photovoltaic Systems Strengthens Business Case for Solar Energy
Government Incentives and Subsidies for Solar Energy Expands Market Opportunities
Rising Awareness of Climate Change Issues Spurs Market Expansion
Growth in Distributed Energy Resources Generates Demand for Photovoltaics
Integration of Photovoltaics in Smart Grids Accelerates Market Growth
Increasing Investments in Solar Energy Projects Sustains Market Demand
Expansion of Solar Power Capacity in Emerging Markets Drives Adoption
Innovations in Solar Storage Solutions Propel Market Growth
Growth of Net Metering Policies Drives Market Expansion
Increasing Demand for Off-Grid Solar Solutions Sustains Growth
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Recent Past, Current & Future Analysis for Photovoltaics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 2: World Historic Review for Photovoltaics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 3: World 16-Year Perspective for Photovoltaics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
Table 4: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 5: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 6: World 16-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 7: World Recent Past, Current & Future Analysis for Utility by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 8: World Historic Review for Utility by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 9: World 16-Year Perspective for Utility by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 10: World Photovoltaics Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
Table 11: World Recent Past, Current & Future Analysis for Modules by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 12: World Historic Review for Modules by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 13: World 16-Year Perspective for Modules by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 14: World Recent Past, Current & Future Analysis for Inverters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 15: World Historic Review for Inverters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 16: World 16-Year Perspective for Inverters by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 17: World Recent Past, Current & Future Analysis for Balance of System (BOS) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 18: World Historic Review for Balance of System (BOS) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 19: World 16-Year Perspective for Balance of System (BOS) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 20: World Recent Past, Current & Future Analysis for Ground Mounted by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 21: World Historic Review for Ground Mounted by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 22: World 16-Year Perspective for Ground Mounted by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 23: World Recent Past, Current & Future Analysis for BIPV by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 24: World Historic Review for BIPV by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 25: World 16-Year Perspective for BIPV by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 26: World Recent Past, Current & Future Analysis for Floating PV by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 27: World Historic Review for Floating PV by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 28: World 16-Year Perspective for Floating PV by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 29: World Recent Past, Current & Future Analysis for Commercial & Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 30: World Historic Review for Commercial & Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 31: World 16-Year Perspective for Commercial & Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCE
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
Photovoltaics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
Photovoltaics (PV) is the conversion of sunlight into electricity. It is a form of renewable energy that is becoming increasingly popular due to its low environmental impact and cost-effectiveness. PV systems are composed of solar cells, which convert sunlight into direct current (DC) electricity. This electricity is then converted into alternating current (AC) electricity, which is used to power homes and businesses.
The PV market is composed of companies that manufacture, install, and maintain PV systems. These companies range from large multinationals to small local businesses. Some of the major players in the PV market include SunPower, First Solar, and SolarEdge. These companies are leading the way in developing innovative technologies and products to make PV systems more efficient and cost-effective. Additionally, many smaller companies are emerging in the PV market, offering specialized services and products. Show Less Read more
This product is a market research report. Each license type allows a set number of users to access the report. Please select an option from the list below. This product is a market research report. This is a single user license, allowing one user access to the product. The product is a PDF. This product is a market research report. This is a 1-10 user license, allowing up to ten users have access to the product. The product is a PDF. This product is a market research report. This is an enterprise license, allowing all employees within your organization access to the product. The product is a PDF.