Photovoltaic Market Size Worth US$ 768.1 Billion By 2027 | CAGR 19.8%: The Insight Partners

The photovoltaic market is expected to grow from US$ 153.9 billion in 2018 to US$ 768.1 billion by 2027 at a CAGR of 19.8% between 2019 and 2027.

The Insight Partners provides you global research analysis on "Photovoltaic Market" and forecast to 2027. The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Photovoltaic market during the forecast period, i.e., 2020-2027.

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In the wake of technological development and focus toward a growing trend of solar PV technology, the German and Spanish governments have established robust policy frameworks such as clear national targets, attractive incentives to promote consumption, and integrated plans to boost technological development and PV technology adoption in solar energy and drives the photovoltaic market growth. In APAC, several initiatives have been taken by governments to minimize the cost of the overall set-up to maximize the far-reaching benefits of an off-grid option in rural electrification, along with uplifting the focus toward sustainable environmental conditions. Moreover, several countries, such as China, have established policies to enhance the production level of photovoltaic solar power energy. Thus, above-mentioned factors are contributing toward the growth of the photovoltaic market.

The key players profiled in this study includes:
• Mitsubishi Electric Corporation
• Panasonic Corporation
• Kaneka Corporation
• KYOCERA Corporation
• Sharp Corporation
• JA Solar Co., Ltd.
• Renesola Co. Ltd
• Trina Solar
• Jinko Solar
• Shunfeng International Clean Energy Co., Ltd

Photovoltaic (PV) energy is growing at a rapid pace by contributing a significant part in the energy balance of the economy's power systems. These systems have established to be a mature technology utilized for mainstream electricity generation and drive the photovoltaic market growth. However, solar-powered PV systems generate electricity in excess. Power providers across the world provide net metering, which is defined as an arrangement where the excess electricity produced by grid-connected renewable energy systems returns to the electricity meter. This avoids wastage and improves energy distribution as and when needed. PV systems using grid technology account for about 99% of the installed capacity in comparison with standalone systems, which require batteries. Battery-less grid-connected PV is considered to be a cost-effective solution and needs less maintenance which increases the adoption of PV-based products and thus drives the photovoltaic market share.

Speaking about this research report in particular, it includes:

• Five Types of Segmentations (by Product Type, Power, Application, Component, Region)

• Five Major Regions (North America, Europe, Asia Pacific, Middle East & Africa, South & Central America)

• Market Information For 10 Years (2017 & 2018 - Historic Years, 2019 - Base Year and 2020-2027 Forecast Period)

• Key Industry Dynamics including factors that are Driving the Market, Prevailing Deterrent, Potential Opportunities as Well as Future Trends.

• Ten Company Profiles (these are not just Major Players but a Mix of Leading, Emerging Players, Market Disruptors, Niche Market Players, etc.)

• Industry Landscape Analysis

• Analysis of COVID-19 Impact on this market at Global and Regional Level.

A thoroughgoing evaluation of the market restrains included in the report which represents the difference to drivers of the market and gives scope for strategic insights and developments. The research study has amalgamated the growth analysis of different aspects that enhance the market growth scenario. It constitutes key market drivers, restraints and trends that transform the market in either a positive or negative manner.

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The Table of Content for Photovoltaic Market research study includes:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Photovoltaic Market Landscape
5. Photovoltaic Market - Key Market Dynamics
6. Photovoltaic Market - Global Market Analysis
7. Photovoltaic Market - Revenue And Forecasts to 2027 - Type
8. Photovoltaic Market - Revenue And Forecasts to 2027 - Type of Product
9. Photovoltaic Market - Revenue And Forecasts to 2027 - Component
10. Photovoltaic Market Revenue And Forecasts to 2027 - Geographical Analysis
11. Impact of Covid-19 Pandemic on Global Photovoltaic Market
12. Industry Landscape
13. Photovoltaic Market, Key Company Profiles
14. Appendix
15. List of Tables
16. List of Figures

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