Market Overview

The Global Solar Photovoltaic Market was valued at USD 156,024.6 million in 2023 and is expected to reach USD 235,841.4 million by 2031 while growing at a CAGR of 5.3% during the forecast period (2024-2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global solar photovoltaic market growth. Solar Photovoltaic (PV) technology utilizes semiconducting materials, typically silicon, to convert sunlight into electricity through solar cells. Widely employed in residential and commercial applications, it directly captures and converts sunlight into electrical power.

Increasing environmental awareness and climate change mitigation, coupled with declining costs of solar PV technology, drive the growth of the solar photovoltaic market. However, obstacles like intermittency and dependence on weather conditions, along with high initial costs and return on investment (ROI), may hinder market expansion.

Furthermore, the global solar photovoltaic industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Type Analysis

The Global Solar Photovoltaic Market is segmented among Thin film, Multi-Si, and Mono-Si, based on Type. In 2023, Multi-Si accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By End-User Analysis

The Global Solar Photovoltaic Market is segmented among Residential, Commercial, and Utility, based on End-User. In 2023, Utility accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Solar Photovoltaic Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while Europe is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are First Solar Inc., Sharp Corporation, Suntech Power Holding Co. Ltd., JinkoSolar Holding Co. Ltd., JA Solar Holdings Co. Ltd., Trina Solar Ltd., Hanwha Q Cells Co. Ltd., Acciona SA, Canadian Solar Inc., and SunPower Corporation.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Solar Photovoltaic Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Solar Photovoltaic Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Solar Photovoltaic Market Segmentation, By Type  

• Global Solar Photovoltaic Market Share Analysis, By Type

• Global Solar Photovoltaic Market Growth Analysis, By Type

• Global Solar Photovoltaic Market Trends, By Type  

o Thin film

o Multi-Si

o Mono-Si

6. Global Solar Photovoltaic Market Segmentation, By End-User  

• Global Solar Photovoltaic Market Share Analysis, By End-User  

• Global Solar Photovoltaic Market Growth Analysis, By End-User

• Global Solar Photovoltaic Market Trends, By End-User  

o Residential

o Commercial

o Utility

7. Global Solar Photovoltaic Market Segmentation, By Deployment  

• Global Solar Photovoltaic Market Share Analysis, By Deployment  

• Global Solar Photovoltaic Market Growth Analysis, By Deployment  

• Global Solar Photovoltaic Market Trends, By Deployment  

o Ground-mounted

o Rooftop Solar

8. Global Solar Photovoltaic Market Segmentation, By Region

• Global Solar Photovoltaic Market Share Analysis, By Region

• Global Solar Photovoltaic Market Growth Analysis, By Region

• Global Solar Photovoltaic Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

9. Competitive Landscape

• First Solar Inc.*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Sharp Corporation

• Suntech Power Holding Co. Ltd.

• JinkoSolar Holding Co. Ltd.

• JA Solar Holdings Co. Ltd.

• Trina Solar Ltd.

• Hanwha Q Cells Co. Ltd.

• Acciona SA

• Canadian Solar Inc.

• SunPower Corporation

 *Similar analysis will be provided for each company listed above.