Solar PV Market: Market Highlights and Industry Trends

Geographical Segmentation and Growth Analysis

The solar PV market is set to grow by 142.64 GW, decelerating at a CAGR of almost 15.24% during the forecast period. This research report analyses the growth trajectory of the market with a purview to prevalent market scenario, trends, and drivers. It also provides competitive bench-marking of the key market players and their product portfolios.

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Solar Photovoltaic Market: APAC to lead market growth during the forecast period

• Based on our Geographical Segmentation, APAC is projected to contribute 51% of the market growth during the forecast period. In addition, several countries in Europe, such as Norway, Iceland, and Sweden, rely on renewable sources for more than half of their total annual power demand due to the implementation of stringent emission norms. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the solar PV market size                                                                                                                                                                                                                               
• One of the key drivers that is likely to drive market growth is the increasing investments in renewable energy. The increased focus on renewable energy sources is increasing investments in the energy industry, which will drive the growth of the global solar PV market during the forecast period.                                             
• Governments across the world support the adoption of solar PV systems by providing incentives, subsidies, and tax benefits to producers and consumers. For instance in the US, the investment tax credit (ITC) is an important federal policy developed to support the adoption of solar PV energy in the country. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market.  These insights will equip clients with all the information they need to plan COVID-19 recovery and growth strategies.                                                               
• The report segments the market by End-user (utility, commercial, and residential) and Geography (APAC, Europe, North America, South America, and MEA). Growth by the utility segment will be significant during the forecast period. The installation of large-scale solar power plants to generate clean energy and reduce carbon emissions is increasing. A detailed analysis of each segment and its contribution to the market share is provided along with factors that are likely to boost the market growth.

Solar PV Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Adani Green Energy Ltd., Canadian Solar Inc., First Solar Inc., Flisom AG, Greatcell Energy Pty Ltd., JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., TotalEnergies SE, Waaree Energies Ltd., and Yingli Green Energy Holding Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market will decelerate at a CAGR of 15.24%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by 142.64 GW through 2021-2025.
    
3. What is a key factor driving this market?
   Increasing investments in renewable energy will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   51% growth will originate from APAC
    
6. Who are the leading market vendors?
   The leading vendors in this market are Adani Green Energy Ltd., Canadian Solar Inc., First Solar Inc., Flisom AG, Greatcell Energy Pty Ltd., JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., TotalEnergies SE, Waaree Energies Ltd., and Yingli Green Energy Holding Co. Ltd.
    
7. What are the market segments covered in this report?
   The market is segmented by End-user (utility, commercial, and residential) and Geography (APAC, Europe, North America, South America, and MEA).

Market Segmentation by End-user

• • Solar PV Market Split by End-user
    • utility
    • commercial
    • residential
  • Solar PV Market Split by Geography
    • APAC
    • Europe
    • North America
    • South America
    • MEA

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• North America - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Competitive scenario
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Adani Green Energy Ltd.
• Canadian Solar Inc.
• First Solar Inc.
• Flisom AG
• Greatcell Energy Pty Ltd.
• JA Solar Technology Co. Ltd.
• JinkoSolar Holding Co. Ltd.
• TotalEnergies SE
• Waaree Energies Ltd.
• Yingli Green Energy Holding Co. Ltd.