Solar photovoltaic (PV) technology uses solar energy to convert light into electricity. These devices can be used in small electronic appliances such as calculators or to power homes and commercial businesses. PV systems use several kinds of solar cells connected in series and parallel to produce a specific voltage output. They are also used as stand-alone solar systems to meet the electricity needs of remote buildings or vacation homes that don’t have access to the electrical grid. Historically, PV systems were considered expensive and difficult to install, but rapidly falling prices have made them more affordable than ever before. The average cost of a complete PV system has dropped by 59 percent over the last decade.

Market Dynamics:

Increasing global concerns over climate change, growing energy demand, and rising oil prices have led to a need for alternative and renewable power sources. Solar photovoltaic panels are one of the leading alternatives for electricity generation. They can significantly reduce the carbon footprint by generating clean and affordable electricity. They also provide significant benefits to the environment by reducing the amount of fossil fuels consumed. Increasing energy demands and the government's policy on green technologies are driving growth of the solar PV market. 

On the other hand, high installation cost of solar PV is expected to hinder the market growth.

Key features of the study:

• This report provides in-depth analysis of the global solar photovoltaic (PV) market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global solar photovoltaic (PV) market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include First Solar Inc., Suntech Power Holdings Co. Ltd, Sharp Corporation, JinkoSolar Holding Co. Ltd, JA Solar Holdings Co. Ltd, Trina Solar Ltd, Hanwha Q Cells Co. Ltd, Acciona SA, Canadian Solar Inc., SunPower Corporation, and LONGi Green Energy Technology Co. Ltd
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global solar photovoltaic (PV) market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global solar photovoltaic (PV) market

Detailed Segmentation:

• Global Solar Photovoltaic (PV) Market, By Type
  • Thin Film
  • Multi-Si
  • Mono-Si
• Global Solar Photovoltaic (PV) Market, By End User
  • Residential
  • Commercial
  • Utility
  • Deployment
  • Ground-mounted
  • Rooftop Solar
• Global Solar Photovoltaic (PV) Market, By Geography
  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa
• Company Profiles
  • First Solar Inc.
  • Suntech Power Holdings Co. Ltd
  • Sharp Corporation
  • JinkoSolar Holding Co. Ltd
  • JA Solar Holdings Co. Ltd
  • Trina Solar Ltd
  • Hanwha Q Cells Co. Ltd
  • Acciona SA
  • Canadian Solar Inc.
  • SunPower Corporation
  • LONGi Green Energy Technology Co. Ltd