Solar Photovoltaic (PV) Market Size, Share and Trends Analysis by Technology, Installed Capacity, Generation, Drivers, Constraints, Key Players and Forecast, 2022-2030
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Solar Photovoltaic Market Overview
The Solar Photovoltaic (PV) market cumulative installed capacity is 892.6 GW and is expected to achieve a CAGR of more than 15% during 2021-2030. The growing demand for solar energy in residential and commercial applications helps increase PV deployment. The growing need to reduce greenhouse gas (GHG) emissions and the demand for energy due to growing population and modernization are some of the major factors aiding the adoption of solar PV. Regulations at the federal and state levels to provide tax benefit for installing commercial, residential, and utility-driven solar facilities are drawing investors to the solar PV market, thereby driving the market growth positively.
Solar PV Market Outlook, 2021-2030 (GW)
For more insights into the Solar PV market forecast, download a free sample report
The Solar PV report provides a clear overview of and detailed insight into the global Solar PV market. It also provides data and analysis on the historic and forecasts solar PV capacity and generation; the impact of COVID-19 pandemic, geo-political scenario, major active and upcoming plants, market size, and market drivers and challenges for eleven key solar PV market countries – Australia, South Korea, China, France, Germany, India, Italy, Japan, Spain, the United States, and Vietnam.
Market Size (2021) | 892.6 GW |
CAGR (2021 – 2030) | >15% |
Forecast Period | 2022-2030 |
Key Regions | North America, Europe, Asia-Pacific, South and Central America, and Middle East & Africa |
Key Countries | China, The US, India, Japan, Spain, Germany, Italy, South Korea, France, Vietnam, and Australia |
Key Sectors | Utility Installations, Residential Installations and Commercial Installations |
Leading Companies | LONGi Solar Technology Co Ltd, Trina Solar Co Ltd, JA Solar Holdings Co Ltd, Jinko Solar Holding Co Ltd, Canadian Solar, Rysen Energy, GCL Solar Energy Technology Holdings Inc. and Shunfeng International |
Solar PV Market- Future Opportunities and Trends
Owing to the demand for more economic and sustainable energy sources, solar power companies continue to focus on advancing technologies related to solar cells and extending battery life. The improved solar power and storage technologies could be used to improve the quality of life.
Furthermore, scientists are working on using solar panels to generate energy at night by capturing infrared light, which is produced by the thermal gradient between the solar cell and the atmosphere. The amount of energy produced is way less than the actual production capacity of the solar panel, but it is still an amount of extra energy that could be stored in the power grid for use.
Solar PV Market Segmentation by Region
The key regions in the Solar PV market are North America, Europe, Asia-Pacific, South and Central America, and Middle East & Africa. Asia-Pacific dominated the Solar PV market in terms of cumulative installed capacity in 2021, followed by Europe and North America.
Solar PV Market Analysis by Region, 2021 (%)
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Solar PV Market Segmentation by Countries
The key countries in the Solar PV market are China, the US, India, Japan, Spain, Germany, Italy, South Korea, France, Vietnam, and Australia. China led the Solar PV market in 2021, followed by the US.
Solar PV Market Analysis by Countries, 2021 (%)
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Solar PV Market Segmentation by Sectors
The key sectors in Solar PV market are utility installations, residential installations, and commercial installations. Utility installations led the market in 2021, followed by residential installations.
Solar PV Market Analysis by Sectors, 2021 (%)
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Solar PV Market- Competitive Landscape
Some of the leaders are LONGi Solar Technology Co Ltd, Trina Solar Co Ltd, JA Solar Holdings Co Ltd, Jinko Solar Holding Co Ltd, Canadian Solar, Rysen Energy, GCL Solar Energy Technology Holdings Inc. and Shunfeng International. LONGi Solar Technology Co Ltd dominated the Solar PV market in 2021, followed by Trina Solar Co Ltd.
Solar PV Market Analysis by Leading Players, 2021 (%)
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Scope
This report includes:
- Solar PV market study at the global level, and at a key country level covering eleven key countries in depth.
- Key growth drivers and challenges at a country level.
- The impact of the COVID-19 pandemic on the solar PV market at a country level.
- Historic (2011-2021) and forecast (2022-2030) data for cumulative installed solar PV capacity and generation globally, and for each of the key countries.
- Market size globally and in each of the key countries.
- Import and export values in each of the key countries.
Reasons to Buy
The report will allow you to:
- Facilitate decision-making by providing historical and forecast data in the solar PV market.
- Develop business strategies by understanding the drivers and challenges of the market.
- Position yourself to gain the maximum advantage of the industry’s growth potential.
- Maximize potential in the growth of the solar PV market
- Identify key partners, geographies, and business-development avenues.
- Respond to business structure, strategy, and prospects.
Jinko Solar Co Ltd
Trina Solar Co Ltd
JA Solar Co Ltd
Canadian Solar Inc
Risen Energy Co Ltd
Shunfeng International Clean Energy Ltd
First Solar
Solar Frontier
GCL Solar Energy Technology Holdings Inc.
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Frequently asked questions
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What was the Solar PV market cumulative installed capacity in 2021?
The cumulative installed capacity in the Solar PV market was 892.6 GW in 2021.
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What is the Solar PV market growth rate?
The Solar PV market is expected to achieve a CAGR of more than 15% during 2021-2030.
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What are the key regions in the Solar PV market?
The key regions in the Solar PV market are North America, Europe, Asia-Pacific, South and Central America, and Middle East & Africa.
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What are the key countries in the Solar PV market?
The key countries in the Solar PV market are China, the US, India, Japan, Spain, Germany, Italy, South Korea, France, Vietnam, and Australia.
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What are the key sectors in the Solar PV market?
The key sectors in the Solar PV market are utility installations, residential installations, and commercial installations.
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What are the leading companies in the Solar PV market?
The leading companies in the Solar PV market are LONGi Solar Technology Co Ltd, Trina Solar Co Ltd, JA Solar Holdings Co Ltd, Jinko Solar Holding Co Ltd, Canadian Solar, Rysen Energy, GCL Solar Energy Technology Holdings Inc. and Shunfeng International.
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