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Global Solar PV Systems Market 2017-2021

About Solar PV Systems

A solar PV system, also known as a solar power system is designed to provide usable solar power by means of PVs. PVs use a semiconductor material to convert sunlight into electricity. A typical solar PV system consists of an arrangement of several components, including solar panels that absorb and convert sunlight into electricity, a solar inverter to convert the electric current from DC to AC, and other electrical accessories and cabling to set up a working solar power system. A solar PV system can range from small-scale rooftop mounted system typically utilized in residential and commercial buildings to large utility-scale ground mounted systems, which generate thousands of MW of electricity. Solar PV systems can be grid-connected or decentralized/off-grid installations in remote locations. Off-grid solar power systems can be standalone or hybrid systems coupled with other sources of energy, such as wind power.

Technavio’s analysts forecast the global solar PV systems market to grow at a CAGR of 20.73% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global solar PV systems market for 2017-2021. To calculate the market size, the report considers sales of complete Solar PV system i.e. Solar PV module and BOS (inverters, racking, switches, enclosures, and others) including installation cost.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Solar PV Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Jinko Solar
  • Trina Solar
  • SMA Solar Technology
  • Huawei Technologies
  • SUNGROW
Other prominent vendors
  • ABB
  • Canadian Solar
  • Chint Group
  • DAQO NEW ENERGY
  • Delta Group
  • Enphase Energy
  • First Solar
  • Flin Energy
  • Fronius International
  • GCL-Poly
  • Golden Concord Holdings
  • GoodWe (Jiangsu) Power Supply Technology
  • Growatt New Energy Technology
  • Hanwha Group
  • JA SOLAR
  • KACO new energy
  • Kstar New Energy
  • KYOCERA
  • Lavancha Renewable Energy
  • Luminous India
  • MICROTEK INTERNATIONAL
  • OMRON
  • Power Electronics
  • Pure Volt
  • Redback Technologies
  • Renesola
  • Risen Energy
  • Schneider Electric
  • SHANGHAI SUNVIS NEW ENERGY
  • Sharp Corporation
  • Shunfeng International Clean Energy
  • Sineng Electric
  • SolarEdge Technologies
  • SolaX Power
  • Su-Kam Power Systems
  • SunPower
  • TABUCHI ELECTRIC
  • Talesun
  • TMEIC
  • Vikram Solar
  • Voltronic Power Technology
  • Waaree Energies
  • Yingli Solar
Market driver
  • Declining cost of solar energy
  • For a full, detailed list, view our report
Market challenge
  • Intermittency in solar power generation
  • For a full, detailed list, view our report
Market trend
  • Floating solar PV plant
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Solar PV Systems Market 2017-2021

Technavio recognizes the following companies as the key players in the global solar PV systems market: Jinko Solar, Trina Solar, SMA Solar Technology, Huawei Technologies, and SUNGROW.

Other Prominent Vendors in the market are: ABB, Canadian Solar, Chint Group, DAQO NEW ENERGY, Delta Group, Enphase Energy, First Solar, Flin Energy, Fronius International, GCL-Poly, Golden Concord Holdings, GoodWe (Jiangsu) Power Supply Technology, Growatt New Energy Technology, Hanwha Group, JA SOLAR, KACO new energy, Kstar New Energy, KYOCERA, Lavancha Renewable Energy, Luminous India, MICROTEK INTERNATIONAL, OMRON, Power Electronics, Pure Volt, Redback Technologies, Renesola, Risen Energy, Schneider Electric, SHANGHAI SUNVIS NEW ENERGY, Sharp Corporation, Shunfeng International Clean Energy, Sineng Electric, SolarEdge Technologies, SolaX Power, Su-Kam Power Systems, SunPower, TABUCHI ELECTRIC, Talesun, TMEIC, Vikram Solar, Voltronic Power Technology, Waaree Energies, and Yingli Solar.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Floating solar PV plant. One of the major challenges in the adoption of solar power systems is the large land space required for their installation. Countries worldwide are looking to save space while increasing the power generated from renewable sources, such as solar and wind. This has led to the increase in installation of solar panels on water bodies, such as dam reservoirs and canals.”

According to the report, one of the major drivers for this market is Declining cost of solar energy. In the past, the high cost and intermittent nature of renewables were the major hurdles to their adoption. One solution to the problem of intermittency is energy storage, which not only bridges the gap but is also used to increase the renewable energy penetration in hybrid systems. For instance, a standard PV can produce 20%-30% of power. However, with the addition of an energy storage system (battery), the power generated from solar PVs can go beyond 60%-70%.

Further, the report states that one of the major factors hindering the growth of this market is Intermittency in solar power generation. Solar power prices have been on a decline, resulting in the widespread adoption of solar PV systems. The has increased the number of solar power installations over the years. However, the intermittent nature of solar power is a major challenge. Power output from solar PVs is not constant and depends on factors, such as the efficiency of the panel, solar irradiation, and the degree of shade, which varies over the duration of the day and in overcast conditions.



Companies Mentioned

Jinko Solar, Trina Solar, SMA Solar Technology, Huawei Technologies, and SUNGROW. ABB, Canadian Solar, Chint Group, DAQO NEW ENERGY, Delta Group, Enphase Energy, First Solar, Flin Energy, Fronius International, GCL-Poly, Golden Concord Holdings, GoodWe (Jiangsu) Power Supply Technology, Growatt New Energy Technology, Hanwha Group, JA SOLAR, KACO new energy, Kstar New Energy, KYOCERA, Lavancha Renewable Energy, Luminous India, MICROTEK INTERNATIONAL, OMRON, Power Electronics, Pure Volt, Redback Technologies, Renesola, Risen Energy, Schneider Electric, SHANGHAI SUNVIS NEW ENERGY, Sharp Corporation, Shunfeng International Clean Energy, Sineng Electric, SolarEdge Technologies, SolaX Power, Su-Kam Power Systems, SunPower, TABUCHI ELECTRIC, Talesun, TMEIC, Vikram Solar, Voltronic Power Technology, Waaree Energies, and Yingli Solar.

  • EXECUTIVE SUMMARY
  • SCOPE OF THE REPORT
  • RESEARCH METHODOLOGY
  • INTRODUCTION
    • MARKET OUTLINE
      • Table SOLAR POWER PLANT OVERVIEW
  • MARKET LANDSCAPE
    • MARKET OVERVIEW
      • Table GLOBAL SOLAR PV SYSTEMS MARKET: SEGMENTATION
    • MARKET SIZE AND FORECAST
      • Table GLOBAL SOLAR PV SYSTEMS MARKET 2016-2021 ($ BILLIONS)
      • Table GLOBAL SOLAR PV MARKET 2016-2021 (GW)
    • FIVE FORCES ANALYSIS
      • Table FIVE FORCES ANALYSIS
  • MARKET SEGMENTATION BY END-USER
    • GLOBAL SOLAR PV SYSTEMS MARKET BY END-USER
      • Table GLOBAL SOLAR PV SYSTEMS MARKET BY END-USER 2016 AND 2021 (%)
      • Table GLOBAL SOLAR PV SYSTEMS MARKET BY END-USERS 2016-2021 ($ BILLIONS)
    • GLOBAL SOLAR PV SYSTEMS MARKET BY UTILITY SEGMENT
      • Table GLOBAL SOLAR PV SYSTEMS MARKET BY UTILITY SEGMENT 2016-2021 ($ BILLIONS)
      • Table NET ELECTRICITY GENERATION BY UTILITY-SCALE SOLAR IN US 2007-2016 (THOUSAND MWH)
    • GLOBAL SOLAR PV SYSTEMS MARKET BY C&I SEGMENT
      • Table GLOBAL SOLAR PV SYSTEMS MARKET BY C&I SEGMENT 2016-2021 ($ BILLIONS)
    • GLOBAL SOLAR PV SYSTEMS MARKET BY RESIDENTIAL SEGMENT
      • Table GLOBAL SOLAR PV SYSTEMS MARKET BY RESIDENTIAL SEGMENT 2016-2021 ($ BILLIONS)
      • Table NET ANNUAL ELECTRICITY GENERATION BY SOLAR PV FROM RESIDENTIAL SEGMENT IN US 2014- 2016 (THOUSAND MWH)
  • GEOGRAPHICAL SEGMENTATION
    • SOLAR PV SYSTEMS MARKET BY GEOGRAPHY
      • Table GLOBAL SOLAR PV SYSTEMS MARKET BY GEOGRAPHY 2016 AND 2021 (%)
      • Table GLOBAL SOLAR PV SYSTEMS MARKET BY GEOGRAPHY 2016-2021 ($ BILLIONS)
    • SOLAR PV SYSTEMS MARKET IN APAC
      • Table SOLAR PV SYSTEMS MARKET IN APAC 2016-2021 ($ BILLIONS)
      • Table SOLAR POWER CAPACITY AND TARGETS IN MAJOR APAC COUNTRIES
    • SOLAR PV SYSTEMS MARKET IN EMEA
      • Table SOLAR PV SYSTEMS MARKET IN EMEA 2016-2021 ($ BILLIONS)
    • SOLAR PV SYSTEMS MARKET IN AMERICAS
      • Table SOLAR PV SYSTEMS MARKET IN AMERICAS 2016-2021 ($ BILLIONS)
      • Table SOLAR PV ANNUAL INSTALLATIONS IN US 2010-2016 (GW)
  • DECISION FRAMEWORK
  • DRIVERS AND CHALLENGES
    • MARKET DRIVERS
      • Table INDEXED COST OF SOLAR PV SYSTEM 2008-2015 (2008=100%)
      • Table GLOBAL ELECTRIFICATION RATE IN 2014
    • MARKET CHALLENGES
      • Table POWER GENERATION PATTERN BY 1 KW SOLAR PV MODULE IN A DAY
      • Table INTERMITTENCY AND ITS IMPACT ON POWER SYSTEMS
      • Table ELECTRICITY GENERATION EFFICIENCY 2015 (%)
      • Table CONVERSION EFFICIENCY OF CRYSTALLINE SILICON CELLS (%)
      • Table ENERGY CONSUMPTION FROM RENEWABLE SOURCES IN US 2010-2016 (TRILLION BTU)
      • Table GLOBAL CRUDE OIL PRICE 2011-2016 ($/BBL.)
  • MARKET TRENDS
    • FLOATING SOLAR PV PLANT
    • RISE IN INVESTMENTS IN RENEWABLE ENERGY
      • Table INDEXED INVESTMENT IN GLOBAL RENEWABLE ENERGY 2006-2016 (%)
    • EMERGENCE OF MICROGRID AND GREEN TELECOM
      • Table GLOBAL MOBILE CELLULAR SUBSCRIPTIONS PER 100 PEOPLE 2011-2015
  • VENDOR LANDSCAPE
    • COMPETITIVE SCENARIO
    • OTHER PROMINENT VENDORS
      • Table OTHER PROMINENT VENDORS (INDICATIVE LIST)
  • KEY VENDOR ANALYSIS
    • HUAWEI TECHNOLOGIES
      • Table HUAWEI TECHNOLOGIES: KEY PRODUCTS
    • JINKOSOLAR
      • Table JINKOSOLAR: BUSINESS SEGMENTATION
      • Table JINKOSOLAR: KEY PRODUCTS
    • SMA SOLAR TECHNOLOGY
      • Table SMA SOLAR TECHNOLOGY: BUSINESS SEGMENTATION
      • Table SMA SOLAR TECHNOLOGY: KEY PRODUCTS
    • SUNGROW
      • Table SUNGROW: KEY PRODUCTS
    • TRINA SOLAR
      • Table TRINA SOLAR: KEY PRODUCTS
  • APPENDIX
    • LIST OF ABBREVIATIONS
  • EXPLORE TECHNAVIO

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