Selbyville, Delaware, Nov. 19, 2020 (GLOBE NEWSWIRE) -- According to industry experts, escalating demand for sustainable energy and large-scale deployment of renewable energy solutions, along with governments initiatives including tax concessions & incentives to encourage installation of solar panels are the major growth drivers of global solar PV module market. Furthermore, declining cost of solar panels is amplifying the industry growth.
The research document encompasses a descriptive overview of the key drivers, restraints, and opportunities influencing the profitability graph in the upcoming years. In addition, it offers a rich source of data on the industry fragmentation including product terrain, connectivity type, mounting site, end-use scope, and geographical ambits. Further, it deeply explores the competitive landscape of in this industry vertical and highlights the winning strategies for the upcoming years.
Increasing demand for green electricity across the private & public sector will boost the crystalline silicon market growth. Increasing applicability across commercial and utility-scale projects including data centers, educational institutions and hotels will strengthen the industry landscape. Key characteristics including reliable & safe operations, extended lifecycle of panels and low weight volume ratio is anticipated to accelerate the product installation.
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Product terrain review:
Global solar PV module market from cadmium segment is slated to record strong growth during the forecast period owing to rapid development of renewable energy resources with a keen focus towards a carbon-negative economy. Ongoing regulatory norms such as net metering and power purchase agreements, rising environmental concerns regarding GHG emissions, and increasing efforts to reduce dependency on fossils fuels are contributing to the segment growth.
Meanwhile, amorphous silicon is expected to contribute significantly to overall solar PV module industry remuneration in the coming years, attributable to surging power demand from off-grid sites and favorable regulatory policies regarding decentralized power generation. Besides, wide applicability of amorphous silicon across various commercial settings such as educational institutions, hotels, and resorts is further augmenting the product demand. Aspects such as low operational cost, durability, and optimum energy per panel are encouraging the use of these products.
Mounting site overview:
Worldwide solar PV module industry from ground mounted segment is touted to expand considerably in the coming years on account of shifting focus from conventional power generation technology to renewable energy sources. Rising government efforts towards reaching clean energy targets, expansion of power girds, and decentralized solar installations are boosting the segmental share.
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End-use scope:
Commercial segment is pulling global solar PV module market share from residential and other end-users owing to increasing deployment of solar PV panels across hotels, offices, and hospitals, along with swelling energy demand from data centers and communication base stations. Moreover, rapid urbanization, government subsidies for renewable energy adoption, growing consumer consciousness towards decreasing carbon footprint, integration of sustainable energy technologies in grid infrastructure are enhancing the business landscape.
Global Solar PV Module Market Technology Sub-Segments (MW, USD, 2015-2026)
- Crystalline Silicon
- Thin Film
Global Solar PV Module Market Product Sub-Segments (MW, USD, 2015-2026)
- Monocrystalline
- Polycrystalline
- Amorphous Silicon (A-Si)
- Cadmium Telluride (CdTe)
- Copper Indium Gallium Di-selenide (CIGS)
Global Solar PV Module Market Connectivity Sub-Segments (MW, USD, 2015-2026)
- On-Grid
- Off-Grid
Global Solar PV Module Market Mounting Sub-Segments (MW, USD, 2015-2026)
- Ground Mounted
- Roof-Top
Global Solar PV Module Market End-Use Sub-Segments (MW, USD, 2015-2026)
- Residential
- Commercial
- Utility
Global Solar PV Module Market Regional Scope (MW, USD, 2015-2026)
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Global Solar PV Module Market Competitive Dashboard
- Su-Kam Power Systems Ltd.
- Yingli Solar
- SolarWorld AG
- Risen Energy Co., Ltd.
- Solar Frontier K.K
- Motech Industries, Inc.
- GCL System Integration Technology Co., Ltd.
- Hanwha Q Cells Co., Ltd.
- LONGi Solar Technology Ltd.
- Sharp Corp.
- Schott Solar AG
- SunPower Corp.
- Suntech Power Holdings Co., Ltd.
- First Solar, Inc.
- JinkoSolar Holding Co., Ltd.
- JA Solar Holdings
- Canadian Solar, Inc.
- Trina Solar Co., Ltd.
Table of Content:
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. List of data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Solar PV module market snapshot
Chapter 3. Solar PV Module Market Trends
3.1. Industry coverage
3.2. Industry size & forecast, 2015 - 2026
3.3. Value chain analysis
3.3.1. Company product snapshot
3.4. Innovation landscape
3.5. Regulatory norms & directives
3.6. COVID - 19 impact on industry outlook
Chapter 4. Solar PV Module Market Share, By Technology (MW) (USD)
4.1. Solar PV module market share by technology, 2019 & 2026
4.2. Thin film
4.2.1. Market estimates and forecast, 2015 - 2026
4.2.2. Market estimates and forecast, by region, 2015 - 2026
4.3. Crystalline Silicon
4.3.1. Market estimates and forecast, 2015 - 2026
4.3.2. Market estimates and forecast, by region, 2015 - 2026
Chapter 5. Solar PV Module Market Size, By Product (MW) (USD)
5.1. Solar PV module market share by product, 2019 & 2026
5.2. Monocrystalline
5.2.1. Market estimates and forecast, 2015 - 2026
5.2.2. Market estimates and forecast, by region, 2015 - 2026
5.3. Polycrystalline
5.3.1. Market estimates and forecast, 2015 - 2026
5.3.2. Market estimates and forecast, by region, 2015 - 2026
5.4. Cadmium Telluride (CdTe)
5.4.1. Market estimates and forecast, 2015 - 2026
5.4.2. Market estimates and forecast, by region, 2015 - 2026
5.5. Amorphous Silicon (A-Si)
5.5.1. Market estimates and forecast, 2015 - 2026
5.5.2. Market estimates and forecast, by region, 2015 - 2026
5.6. Copper Indium Gallium Di-selenide (CIGS)
Chapter 6. Solar PV Module Market Trends, By Connectivity (MW) (USD)
6.1. Solar PV module market share by connectivity, 2019 & 2026
6.2. On-Grid
6.2.1. Market estimates and forecast, 2015 - 2026
6.2.2. Market estimates and forecast, by region, 2015 - 2026
6.3. Off-Grid
6.3.1. Market estimates and forecast, 2015 - 2026
6.3.2. Market estimates and forecast, by region, 2015 - 2026
Chapter 7. Solar PV Module Market Value, By Mounting (MW) (USD)
7.1. Solar PV module market share by mounting, 2019 & 2026
7.2. Ground Mounted
7.2.1. Market estimates and forecast, 2015 - 2026
7.2.2. Market estimates and forecast, by region, 2015 - 2026
7.3. Roof-Top
Chapter 8. Solar PV Module Market Forecast, By End Use (MW) (USD)
8.1. Solar PV module market share by end use, 2019 & 2026
8.2. Residential
8.2.1. Market estimates and forecast, 2015 - 2026
8.2.2. Market estimates and forecast, by region, 2015 - 2026
8.3. Commercial
8.3.1. Market estimates and forecast, 2015 - 2026
8.3.2. Market estimates and forecast, by region, 2015 - 2026
8.4. Utility
Chapter 9. Solar PV Module Market Share, By Region (MW) (USD)
Related Report:
Solar PV Mounting Systems Market Size, Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Solar PV Mounting Systems Market size is estimated to grow at 10% CAGR between 2020 and 2026, as per new research report. Rising energy demand along with growing investment toward various deployment of various renewable technologies, particularly solar will considerably drive the industry growth. PV mounting systems are utilized to mount Photovoltaic modules on surfaces like the ground, facades, building, roofs. The material used for these systems is usually climate dependent. For example, for setting up a plant near a coastal area, in that case all the structural components shall be made of galvanized steel or aluminum since it is highly resistant to corrosion.
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