Solar PV is one kind of device made from crystalline silicon or thin film which converts solar energy into electricity by a process known as the photovoltaic effect. The key indicator for solar PV is conversion efficiency.
In this report, the statistical product is considered from the solar module, the statistical data is considered from the shipment volume.
Solar PV Industry achieved rapid development these years; Global capacity and production have a great development. In 2016, Global Market Size of Solar PV is nearly 38594.78 M USD; the actual sale is about 70546 MW.
China is the largest Solar PV region of Solar PV, with a sales market share nearly 31.94% in 2016. Asia pacific owns the largest market share comparing with Europe and North America, indicating the strong demand of Solar PV products.
The cost of PV has dropped dramatically as the industry has scaled up manufacturing and incrementally improved the technology with new materials. Installation costs have come down too with more experienced and trained installers. However, the U.S. still remains behind other nations that have stronger national policies to shift energy use from fossil fuels to solar. Globally, the U.S. is the fourth largest market for PV installations behind world leaders Germany, Japan and Spain.
Most modern solar cells are made from either crystalline silicon or thin-film semiconductor material. Silicon cells are more efficient at converting sunlight to electricity, but generally have higher manufacturing costs. Thin-film materials typically have lower efficiencies, but can be simpler and less costly to manufacture. A specialized category of solar cells - called multi-junction or tandem cells - are used in applications requiring very low weight and very high efficiencies, such as satellites and military applications. All types of PV systems are widely used today in a variety of applications.
Although there are many pessimistic factors, but the Solar PV industry is a clear development trend from 2016, the installation of Solar PV was about 70.55 GW, a huge increase compared to 2015. And in 2017, it is expected that the installation will have a great increase. Undoubtedly, the total capacity and production of Solar PV will be expanding in the following years.
The PV (Photovoltaics) market was valued at 42700 Million US$ in 2018 and is projected to reach 105700 Million US$ by 2025, at a CAGR of 12.0% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for PV (Photovoltaics).
This report presents the worldwide PV (Photovoltaics) market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
The following manufacturers are covered in this report:
PV (Photovoltaics) Breakdown Data by Type
Single Crystal Silicon
PV (Photovoltaics) Breakdown Data by Application
PV (Photovoltaics) Production by Region
PV (Photovoltaics) Consumption by Region
Rest of Europe
Central & South America
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
The study objectives are:
To analyze and research the global PV (Photovoltaics) status and future forecast，involving, production, revenue, consumption, historical and forecast.
To present the key PV (Photovoltaics) manufacturers, production, revenue, market share, and recent development.
To split the breakdown data by regions, type, manufacturers and applications.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
In this study, the years considered to estimate the market size of PV (Photovoltaics) :
History Year: 2014 - 2018
Base Year: 2018
Estimated Year: 2019
Forecast Year: 2019 - 2025
This report includes the estimation of market size for value (million USD) and volume (MW). Both top-down and bottom-up approaches have been used to estimate and validate the market size of PV (Photovoltaics) market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.