Market Synopsis:
Photovoltaic is referred to the conversion of light into electricity by using semiconducting materials that exhibits the photovoltaic effect. Photovoltaic system comprises solar panels, each consisting of a number of solar cells which generate electrical power. According to a new report by Market Research Future (MRFR), the global photovoltaic market is expected a significant growth during the forecasted period (2016-2027).
Photovoltaic power generation systems are renewable and environmental-friendly and have been proved to be profitable across the globe. Reduction of carbon footprint, contribution to sustainability, and low-cost energy generation are some of the advantages obtained by installing photovoltaics. Photovoltaics can be rooftop mounted, ground-mounted or wall mounted. The mount might be fixed or can also use a solar tracker to follow the sun.
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Global Photovoltaic Market Segmentation:
Globally, the market for photovoltaics can be segmented on the basis of technology, material, application, type, component and region.
The market can be segmented into Multi-Si, Mono-Si, Single Crystal & Polycrystalline, Thin-Film, and others based on technology.
By application, the market can be segmented into residential, non-residential and government. The residential segment is estimated to progress at a steady pace over the forecast period. The popularity of PV systems has been increasing due to its employment in electricity generation, for providing heat for residential buildings at low cost.
Based on materials, the market can be segmented into Poly dimethyl siloxane, Thermoplastic polyurethane, Polyolefin, Ionomer, Ethylene vinyl acetate, Polyvinyl butyral, and others.
The market for photovoltaics can be segmented into solar PV market, thin film PV market, concentrated PV market, and others based on type.
The market can be segmented into optics, trackers, cells, modules, and others based on the components.
Objective of Photovoltaic Market Study:
To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Global Photovoltaic market.
To provide insights about factors affecting the market growth.
To Analyze the Photovoltaic Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segment by technologies, by applications and sub-segments.
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Photovoltaic market.
Drivers and Restraints:
With the growing population, the demand for reliable and effective electric supply has increased which has resulted in increasing solar panel installations. Also, strict government regulations are driving the photovoltaic market globally. Also, the rising need for energy resources along with government rules to reduce depending on fossil fuels is a major driver for the global photovoltaic market growth. The increasing installation of photovoltaic plants and power stations is also expected to drive the market growth during the forecast period.
Meanwhile, high technological cost and varying weather conditions are some of the major factors hindering the growth of the market.
Industrial Developments:
In May 2016, Kiira Motors Corporation had announced about Africa’s first solar-powered bus which is going to be displayed in United Nations Environmental Assembly this year.
Hanwha Q CELLS Korea Corporation had recently signed a project to set up solar panels across all gas stations in South Korea regions. This project is intended to expand the market demand and increase the development of solar power energy.
Competitive Analysis:
Some of the major players of the global photovoltaic market include Canadian Solar (Canada), Trina Solar (China), Panasonic Corporation, Mitsubishi electric corporation (Japan), Jinko Solar (China), and others. Canadian Solar has announced the global launch of the next generation solar modules at Intersolar Europe in June. These modules are highly efficient dual cell bifacial modules.
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Table of Contents
- Report Prologue
- Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
2.3 Market Structure
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