Solar PV Module Market Revenue to Hit USD 54B by 2026: Says Global Market Insights, Inc.

SELBYVILLE, Del., July 15, 2020 /PRNewswire/ — Global Market Insights, Inc. has recently added a new report on the solar…

SELBYVILLE, Del., July 15, 2020 /PRNewswire/ — Global Market Insights, Inc. has recently added a new report on the solar PV module market which estimates the market valuation for solar PV module will cross US $54 billion by 2026. The ongoing technological advancements, along with rising demand for clean energy solutions, will positively impact the industry growth over the forecast timeframe.

Solar PV module industry is set to witness substantial growth from crystalline silicon modules on account of rising demand for cost-effective technology, coupled with adequate financial and technical assistance. Higher operational efficiency, along with a low cost, will further propel the business growth over the forecast timeframe.

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The copper indium gallium di-selenide solar PV module market will witness decent growth subject to the unavailability of toxic cadmium, coupled with better heat-resisting abilities of the product. The higher conversion efficiency of these products, owing to the absorption of a significant portion of the solar spectrum, will further augment the industry landscape.

The off-grid solar PV module market is projected to witness sizable growth on account of the high reliability of these products during power outages and low lighting conditions. Favorable regulations and policies toward decentralized power generation, along with increasing energy demand from remote locations, will boost the industry outlook over the forecast timeline.

The ongoing expansion of infrastructure facilities, coupled with increasing research and development activities to enhance the operational life, will stimulate the ground-mounted solar PV module market share. Large scale renewable integration across the globe coupled with rising investments to establish a sustainable energy infrastructure across industries will foster the ground-mounted solar module installation. Associated cost benefits, availability of green loans and effective overall efficiencies of ground-mounted solar units lay comprehensive ground for product deployment.

The utility scale solar PV module industry is set to witness a significant surge on account of the rising demand for electricity coupled with the introduction of regulatory reform to curb carbon emissions. Increasing government efforts to achieve sustainable energy targets along with the introduction of favorable policies comprising of tax credit and power purchase agreements will enhance the product penetration over the forecast years.

Browse key industry insights spread across 510 pages with 1103 market data tables and 56 figures and charts from the report, «Solar PV Module Market Share & Forecast, 2020 – 2026» in detail, along with the table of contents:

Government efforts to encourage the adoption of sustainable technologies in order to fulfill clean energy targets will drive the solar industry across Europe. Growing consumer awareness toward energy efficiency, coupled with rising demand for solar heating systems, will further complement the business outlook. In addition, the regulatory shift toward the replacement of existing conventional power generation systems with the renewable systems will stimulate the industry landscape.

A few major findings of the solar PV module market report include:

  • Growing investments toward solar PV projects across commercial and utility applications will propel the industry growth.
  • Technological advancement toward product design for efficiency enhancement and cost reduction will augment the product installations.
  • Soaring investments across emerging Middle East and Africa photovoltaic market will supplement the product demand.
  • Favorable regulatory reforms to encourage renewable adoption including subsidies, asset finance and other financial leveraging will stimulate the industry landscape.

Major players operating across the industry include Trina Solar, Canadian Solar, First Solar, LONGi Solar and JA Solar, amongst others.

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Partial chapters of report table of contents (TOC):

Chapter 3 Solar PV modules Industry Insights

3.1 Industry segmentation

3.2 Industry ecosystem analysis

3.2.1 Vendor matrix

3.3 Innovation & sustainability

3.3.1 Trina Solar

3.3.2 Canadian Solar

3.3.3 JA Solar

3.3.4 Jinko Solar

3.3.5 EMMVEE Solar Systems Private Limited

3.3.6 SunPower Corporation

3.3.7 Other Innovations

3.3.8 Upcoming PV Solar Module (2020)

3.4 Regulatory landscape

3.4.1 North America U.S.

3.4.2 Europe UK France Germany

3.4.3 Asia Pacific China India Australia

3.4.4 Africa South Africa

3.4.5 Latin America Chile

3.5 Price trend analysis, by product

3.5.1 Monocrystalline

3.5.2 Polycrystalline

3.5.3 Cadmium Telluride (CdTe)

3.5.4 Amorphous Silicon (A-Si)

3.5.5 Copper Indium Gallium Di-selenide (CIGS)

3.6 Cost structure analysis

3.6.1 Price learning curve for PV technologies

3.6.2 Capital cost breakdown analysis for solar PV plant, 2019

3.7 Technology Landscape

3.7.1 Crystalline Silicon Technology Multi-crystalline Silicon Solar Cells Monocrystalline Silicon Solar Cells

3.7.2 Thin-film Technology

3.7.3 Ultra-thin Technology

3.8 Global PV module production and production capacity, 2011-2018 (MW)

3.8.1 PV module production share by country, 2018

3.9 Global trends in renewable energy investment 2019 (USD Billion)

3.10 Global solar cost reduction potential, 2024

3.11 Renewable power generation as a share of global power, 2018

3.12 Industry impact forces

3.12.1 Growth drivers North America & Latin America Stringent Solar PV targets Europe Growing conventional energy replacement demand Asia Pacific Favorable government initiatives Middle East Increasing investments across utility scale projects Africa Rising decentralized solar installations

3.12.2 Industry pitfall & challenges Longer payback period Availability of other clean energy alternatives

3.13 Growth potential analysis

3.14 COVID – 19 impact on the overall industry outlook, 2020 – 2026

3.14.1 Top countries impacted by COVID- 19

3.14.2 Optimistic View

3.14.3 Realistic View

3.14.4 Pessimistic View

3.15 Porter’s analysis

3.15.1 Bargaining power of suppliers

3.15.2 Bargaining power of buyers

3.15.3 Threat of new entrants

3.15.4 Threat of substitutes

3.16 Competitive landscape, 2019

3.16.1 Strategy dashboard Trina Solar New Products Business Expansion Acquisitions & Overseas Expansions Canadian Solar JA Solar JinkoSolar First Solar Yingli Green Energy Holding Company Limited ReneSola EMMVEE Solar Systems Private Limited Solar Frontier K.K. Vikram Solar

3.16.2 Merger & Acquisition Trina Solar Canadian Solar First Solar SFCE SunPower

3.16.3 Company Market share,2018 & 2019 Solar module efficiency rating of PV models by manufacturer,2019

3.17 PESTEL analysis

Browse related report:

Solar Tracker Market Size By Product (Single Axis {Horizontal, Vertical}, Dual Axis), By Application (Residential, Commercial, Utility), Regional Outlook, Industry Analysis Report, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

Phone: 1-302-846-7766

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Solar PV Modules Market size to exceed $54B by 2026

Solar PV Modules Market revenue is expected to surpass USD 54 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.

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