Global Photovoltaic Market was valued at USD 144.34 Billion in the year 2017. The global Photovoltaic market is further estimated to grow at a CAGR of 19.92% from 2018 to 2023 to reach USD 429.36 Billion. Asia Pacific region holds the highest market share in 2017 and North America market is considered as the fastest growing market in the forecasted period. At a country level China, Japan, and Germany hold the highest market share in 2017 and it is projected to grow at a strongly in the coming years.

Robert Bosch GmbH (Germany), Sharp Corporation (Japan), Panasonic Corporation. (Japan), Mitsubishi Electric Corporation (Japan), China Sunergy (China), Canadian Solar Inc. (Canada), Morgan Solar Inc. (Canada), JA SOLAR Co, Ltd. (China), are some of the key players in the Global Photovoltaic market with Robert Bosch GmbH holding the substantial market share. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

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Drivers:

Low Operation and maintenance cost

Availability of government incentives and loans for growth and expansion

Restraints:

Dependency on climate

Opportunities:

The Belt and Road Forum

Challenges:

The availability of solar radiation can differ depending on location

The major shares of the market comes from Utility sector in Global Photovoltaic Market. As Utility sector contains military, space and power plants which can invest more for the utilization of energy.

On the other hand, Organic PV type for this market is expected to grow at the CAGR of XXX during year 2017-2022. Whereas Inorganic PV holds the notable market share because of its large availability across regions.

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Key Benefits for Stakeholders

Photovoltaic Manufacturers, Distributors and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End use industries

Regulatory bodies, policy actors and consumers.

By Component

Cells

Trackers

Optics

By Type

Organic PV

Inorganic PV

By End User

Utility

Residential

Non-Residential

By Region

North America

Europe

Asia-Pacific

RoW

Key Market Players

Robert Bosch GmbH (Germany)

Panasonic Corporation (Japan)

Sharp Corporation (Japan)

Mitsubishi Electric Corporation (Japan),

Morgan Solar Inc. (Canada)

JA SOLAR Co, Ltd. (China)

Canadian Solar Inc. (Canada)

China Sunergy (China)

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