A solar PV module is a stacked semiconductor module made of silicon that can generate electricity from sunshine. The movement of electrons inside the module produces this photovoltaic effect, which may be amplified by increasing the number of hours exposed to sunlight. Due to solar power's potential to achieve grid parity with conventional energy resources and technological improvement, solar PV modules have dominated the renewable energy market in recent years. Photovoltaic cells utilize sunlight as a source of energy to generate direct current electricity.
MARKET DYNAMICS
The major determining factor for market growth patterns is the continuous progress toward a decarbonized economy, which is bolstered by legislative energy regulations and incentives. Government incentives and other favorable policies have been implemented to encourage the use of various renewable technologies, including solar PV. For example, the United States government proposed a solar tax credit in 2019 with the goal of lowering the cost of installing a solar energy system by 30%. Furthermore, falling prices, improved conversion efficiency, and increased attempts to optimize LCOE will boost the market demand.
MARKET SCOPE
The "Global Solar PV Module Market Analysis To 2028" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The solar PV module market report aims to provide an overview of the solar PV module market with detailed market segmentation by technology, product, connectivity, mounting, application, and geography. The global solar PV module market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar PV module market player and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global solar PV module market is segmented based on fuel by technology, product, connectivity, mounting, application. Based on technology, the solar PV module market is segmented into thin film, crystalline silicon. Based on product, the solar PV module market is segmented into monocrystalline, polycrystalline, cadmium telluride, amorphous silicon, copper indium gallium diselenide. Based on connectivity, the solar PV module market is segmented into on-grid, off-grid. Based on mounting, the solar PV module market is segmented into ground mounted, roof-top. Based on application, the solar PV module market is segmented into residential, commercial, industrial.
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 solar PV module market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The solar PV module market by each region is later sub-segmented by respective countries and segments. The solar PV module market 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 solar PV module market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the solar PV module market in these regions.
IMPACT OF COVID-19 ON SOLAR PV MODULE MARKET
The restrictions imposed by various government bodies owing to COVID-19 impacted the manufacturing and supply chain of PV modules across the globe. Additionally, the demand also reduced drastically from both commercial and industrial sectors owing to stringent restrictions. As a result, the market for solar PV modules was negatively impacted during the pandemic.
MARKET PLAYERS
The reports cover key developments in the solar PV module market as 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 market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from solar PV module market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the solar PV module market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the solar PV module 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.
- Trina Solar
- Canadian Solar
- JA Solar
- Jinko Solar
- First Solar
- Rec Solar
- GCL System Integration Technology Co. Ltd.
- China Sunenergy Co., Ltd.
- Solaria Corporation
- Hanwha Q Cells