Global Solar PV Module Market By 2024 Top Key Player: Solar, JA Solar, Yingli, Jinko, First Solar, Hanwha Q-Cell, SFCE, SunPower, ReneSola, Vikram Solar, Lanco, GCL, Motech

Market Overview: -

According to Global Market Insights, Inc., Worldwide Solar PV Module Market to be valued USD 30 billion by 2024. The world is heavily treading toward the adoption of renewable energy sources, which will lucratively impel solar PV module market. There has been an increase in public awareness levels regarding the effects of GHG, released into environment after the burning of fossil fuels, which has prompted manufacturers to come up with suitable sustainable alternatives. This initiative will provide a push to solar PV module market growth. Several technological developments and the increasing number of manufacturing facilities has also resulted in reduced product cost, which will fuel the industry trends.

Many of the market players are engaged in collaborations with research institutes to bring about innovative technologies that will enhance the industry expansion. Growing investments in R&D activities, flexible integration, and better efficiency will boost the demand for thin film technology integrated products. In 2016, thin film covered more than 20% of the revenue share of technology segment in solar PV module market. The noteworthy participants in solar PV module market are First Solar, Canadian Solar, Trina Solar, JA Solar, Hanwha Q CELLS Co., Jinko Solar, SunPower, Yingli, ReneSola, Moser Baer, SFCE, Shine Solar, and Lanco.

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Top Key Players: -

Some of the prominent solar PV module market participants include Canadian Solar, JA Solar, Yingli, Jinko, First Solar, Hanwha Q-Cell, SFCE, SunPower, ReneSola, Vikram Solar, Lanco, GCL, Motech, and Hareon.

Market share calculation in this report is not done based on companies covered in it. The calculation of solar PV module market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

In terms of geography, Asia Pacific is anticipated to represent a significant portion of the overall Solar PV module industry in the next few years, with China as the major revenue pocket. China covered almost 60% of the overall market in 2016. The region’s growing focus on renewable energy integration coupled with ongoing energy conservation programs have catered the market growth. Furthermore, China Energy Agency’s announcement of investing a huge amount in renewable technology in the next three years is expected to further stimulate overall APAC solar PV module market. U.S. will also record steady gains in the coming time frame.

The projection is grounding on the country’s increasing investments in optimizing the renewable energy sources along with mandatory roll outs regarding minimization of greenhouse gas emissions. Taking into consideration the country’s increasing deployment of micro-grid network and growing adoption of sustainable energy, solar PV module market in U.S. is expected to grow significantly at a CAGR of 6% over 2017-2024.

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Partial Chapter of the Table of Content

Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definitions and forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Solar PV Module industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Technology trends
2.1.3. Product trends
2.1.4. Connectivity trends
2.1.5. Mounting trends
2.1.6. End-use trends
2.1.7. Regional trends
Chapter 3. Solar PV Module Industry Insights
3.1. Industry segmentation
3.2. Industry growth landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Innovation & sustainability
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. UK
3.5.3. France
3.5.4. Germany
3.5.5. China
3.5.6. India
3.5.7. Australia
3.5.8. Chile
3.5.9. South Africa
3.6. Price trend analysis, by region
3.6.1. North America
3.6.2. Asia Pacific
3.6.3. Europe
3.6.4. Middle East
3.6.5. Africa
3.6.6. Latin America
3.7. Feed in tariff landscape
3.8. Technology Landscape
3.8.1. Thin Film
3.8.2. Ultra-Thin Film
3.8.3. Crystalline Silicon
3.9. Leading investment scenario in solar industry
3.10.Industry impact forces
3.10.1. Growth drivers
3.10.1.1. Favorable government initiatives
3.10.1.2. Rising clean energy demand
3.10.1.3. Cost competitive
3.10.1.4. Declining prices of solar component
3.10.2. Industry pitfalls & challenges
3.10.2.1. Lack of grid infrastructure
3.11. Growth potential analysis
3.12. Porter's analysis
3.13. Competitive landscape, 2016
3.13.1. Strategy dashboard
3.13.2. Merger & Acquisition analysis
3.14. PESTEL analysis

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Increasing research investments in cost competitive technology along with monetary assistance by renowned foundations that include Asian Development Bank (ADB), the World Bank, and IFC (International Finance Corporation) have propelled the crystalline silicon-based solar market demand. For instance, recently, DuPont Photovoltaic Solutions have come up with their latest launch named DuPont Solamet photovoltaic metallization paste which is reported to have a module efficiency of almost 21.15%. Thin film photovoltaics held one-fifth of the overall solar PV module market share in 2016. Flexible integration and improved operational efficiency are the two major grounds that are boosting the thin films solar cells market.

Attributing features such as high efficiency, low toxicity, and comparatively affordable operational cost have enabled solar PV module industry to widen its application landscape. Driven by the growing financial assistance initiated by the Government which includes tax credit, easy availability of soft loans, low import duty, solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam’s Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects.

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