Solar PV Modules, Update 2017 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2021
Solar photovoltaics (PV) is the conversion of solar energy - light and heat from the sun - into electrical energy, which is consequently supplied either to the electric grid or to the consumer directly. This conversation is carried out by photosensitive semiconducting materials, assembled in the form of modules, usually referred to as solar PV modules or just solar modules.
Global solar photovoltaic (PV) modules market was valued at over $36 Billion in 2016 and is estimated to reach around $22 Billion in 2021, registering a negative compound annual growth rate (CAGR) of around 9% between 2016 and 2021. For the fourth consecutive year, Asia eclipsed all other markets, accounting for about two-thirds of global additions. The top five markets - China, the US, Japan, India, and the UK - together contributed approximately 95% of the market value in 2016.
On the flip side, the reduction in module prices resulted in an increase in the installed capacity in 2016 and is estimated to remain stable through the forecast period. The total installed capacity between 2017 and 2021 is estimated to be close to 380 gigawatts (GW) whereas it stood at approximately 262 GW between 2011 and 2016.
China, Japan, and the US led the global solar PV module market during the year 2016. The market developments in the top countries are largely due to the economies of scale, emerging technologies, and policy-based government and industrial institutions.
During the forecast period, on average, close to 75 GW are expected to be developed year-on-year. The market expansion was largely due to the increasing competitiveness of solar PV, as well as to rising demand for electricity and improving awareness of solar PV’s potential as countries seek to alleviate pollution and reduce CO2 emissions (Ren21, 2017).
The report Solar PV Modules, Update 2017 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2021, offers comprehensive information and understanding of the solar PV modules market. The report analyzes the current trend and future potential of solar PV modules market at global, regional (Americas, Asia-Pacific, and, Europe, Middle East and Africa (EMEA) and key countries (the US, Canada, Chile, China, India, Japan, the UK, Germany, France, Italy) level.
Moreover, this report analyzes the solar PV modules market in terms of volume and value, classified by technologies for the period 2011-2021. The solar PV module technologies covered in the report include crystalline silicon and thin-film. The report provides insight into the drivers and restraints affecting the solar PV market, competitive landscape, policies and initiatives, recent market deals, top company profiles, and key upcoming solar PV projects.
Companies mentioned in this report: 3Sun Srl, Astronergy, BYD Co Ltd, Canadian Solar Inc, Changzhou EGing Photovoltaic Technology Co Ltd, China Sunergy Co., Ltd., Conergy AG, EGing Photovoltaic Technology Co., Ltd., ET Solar Group Corporation, First Solar Inc, GCL System Integration Technology Co Ltd, GCL-Poly Energy Holdings Ltd, Hanergy Solar Group Limited, Hanergy Thin Film Power Group Ltd, Hanwha Q Cells GmbH, Hareon Solar Technology Co Ltd, Shanghai Aerospace Automobile Electromechanical Co Ltd (HT-SAAE), JA Solar Holdings Co Ltd, Jetion Solar (China) Co Ltd, JinkoSolar Holding Co Ltd, Kaneka Corp, Kyocera Corporation, LDK Solar Co Ltd, Jiangsu Linyang Electronics Co Ltd, LONGi Solar, Miasole, Mitsubishi Corporation, NexPower Technology Corp, REC Solar Inc, Renesola Ltd, Risen Energy Co Ltd, S-Energy Co Ltd, Sharp Corporation, Shunfeng International Clean Energy Limited., Solar Frontier KK, SolarWorld AG, Stion Corp, SunPower Corporation, Talesun Solar Germany GmbH, Tata Power Solar Systems Ltd, Tongwei Solar (Hefei) Co., Ltd, Toshiba Corporation, Trina Solar Ltd, Wotech Solar Group Ltd, Wuxi Suntech Power Co Ltd, Yingli Green Energy Holding Company Limited.
The report analyses solar PV modules market. Its scope includes -
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