Global Solar Photovoltaic Market, Trends & Growth Opportunity, By Type (Thin Film, Monocrystalline Silicon, Polycrystalline Silicon, Others), By End-Use (Residential, Commercial, Industrial), By Deployment (Off-grid, On-grid), By Region and Forecast till 2030.
Global Solar Photovoltaic Market
The Global Solar Photovoltaic Market was valued at USD 250.12 Bn in 2022 and is expected to expand to USD 448.74 Bn by 2030 at a CAGR of 7.42% during the forecast period of 2023-2030.
Solar photovoltaic (PV) is a technology that converts solar energy into electricity by using photovoltaic cells. The process involves the absorption of solar radiation, which releases electrons in the photovoltaic cells, generating an electric current. Solar PV technology is widely used in residential, commercial, and industrial sectors for power generation. The installation of solar panels for electricity production is a renewable and sustainable energy source, which reduces reliance on traditional sources of energy and lowers carbon emissions.
Market Drivers
The global solar photovoltaic market is being driven by several factors, including increasing government support for renewable energy, declining costs of solar PV systems, and growing environmental concerns. Governments around the world are providing incentives and subsidies to encourage the installation of solar PV systems, which has led to an increase in demand for these systems.
Additionally, the declining costs of solar PV modules and related components, such as inverters and batteries, have made solar energy more affordable and accessible to consumers and businesses. Finally, as climate change becomes a greater concern, there is a growing push towards reducing carbon emissions and transitioning to renewable energy sources, with solar PV being a key player in the renewable energy mix.
Market Restraints
One of the major challenges of the solar photovoltaic market is the high initial investment cost, which makes it difficult for many consumers and businesses to adopt solar power. Additionally, the efficiency of solar panels is affected by factors such as weather conditions, shading, and orientation, which can make it challenging to generate consistent power output.
Another challenge is the lack of proper infrastructure for energy storage and transmission, which can limit the integration of solar power into existing power grids. Furthermore, government policies and regulations can also impact the growth of the solar photovoltaic market, such as the availability of subsidies and incentives, and the lack of supportive policies in some regions.
Market Segmentation
The global solar photovoltaic market is segmented by types, such as thin film, monocrystalline silicon, polycrystalline silicon, and others. Based on end-use, the market is segmented into residential, commercial, and industrial. Further, the market is segmented by deployment, such as off-grid and on-grid.
Regional Analysis
The Asia-Pacific region dominates the solar photovoltaic market and is expected to continue showing significant growth in the coming years. This is due to the increasing demand for energy in developing countries such as China, India, and Japan, along with government initiatives and policies supporting the development of solar energy infrastructure. Additionally, the declining cost of solar photovoltaic systems and the increasing efficiency of solar panels are driving the growth of this market in the region.
Key Players
First Solar Inc, SolarWorld AG, Jinko Solar, Trina Solar, SunPower Corporation, JA Solar, Yingli Solar, Canadian Solar Inc, Longi Solar, Risen Energy, Hanwha Q Cells, REC Group, Talesun Solar, LG Electronics, Shunfeng International Clean Energy, Sharp Solar, Seraphim Solar.
Market Taxonomy
By Type
•        Thin Film
•        Monocrystalline Silicon
•        Polycrystalline Silicon
•        Others
By End-Use
•        Residential
•        Commercial
•        Industrial
By Deployment
•        Off-grid
•        On-grid
By Region
•        North America (USA, Canada, Mexico)
•        Europe (Germany, France, UK, Rest of Europe)
•        Asia Pacific (China, India, Japan, Rest of Asia Pacific)
•        Latin America (Brazil, Rest of Latin America)
•        Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa)

Global Solar Photovoltaic Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Solar Photovoltaic Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Solar Photovoltaic Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Solar Photovoltaic Market Share Analysis, By Type
5.3 Global Solar Photovoltaic Market Size and Forecast, By Type
5.3.1 Thin Film
5.3.2 Monocrystalline Silicon
5.3.3 Polycrystalline Silicon
5.3.4 Others
6 Global Solar Photovoltaic Market, By End-Use
6.1 Y-o-Y Growth Comparison, By End-Use
6.2 Global Solar Photovoltaic Market Share Analysis, By End-Use
6.3 Global Solar Photovoltaic Market Size and Forecast, By End-Use
6.3.1 Residential
6.3.2 Commercial
6.3.3 Industrial
7 Global Solar Photovoltaic Market, By Deployment
7.1 Y-o-Y Growth Comparison, By Deployment
7.2 Global Solar Photovoltaic Market Share Analysis, By Deployment
7.3 Global Solar Photovoltaic Market Size and Forecast, By Deployment
7.3.1 Off-grid
7.3.2 On-grid
8 Global Solar Photovoltaic Market, By Region
8.1 Global Solar Photovoltaic Market Share Analysis, By Region
8.2 Global Solar Photovoltaic Market Size and Forecast, By Region
9 North America Solar Photovoltaic Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 North America Solar Photovoltaic Market Share Analysis, By Type
9.3 North America Solar Photovoltaic Market Size and Forecast, By End-Use
9.4 North America Solar Photovoltaic Market Size and Forecast, By Deployment
9.5 North America Solar Photovoltaic Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Solar Photovoltaic Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Europe Solar Photovoltaic Market Share Analysis, By Type
10.3 Europe Solar Photovoltaic Market Size and Forecast, By End-Use
10.4 Europe Solar Photovoltaic Market Size and Forecast, By Deployment
10.5 Europe Solar Photovoltaic Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Solar Photovoltaic Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Asia Pacific Solar Photovoltaic Market Share Analysis, By Type
11.3 Asia Pacific Solar Photovoltaic Market Size and Forecast, By End-Use
11.4 Asia Pacific Solar Photovoltaic Market Size and Forecast, By Deployment
11.5 Asia Pacific Solar Photovoltaic Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Rest of Asia
12 Latin America Solar Photovoltaic Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Latin America Solar Photovoltaic Market Share Analysis, By Type
12.3 Latin America Solar Photovoltaic Market Size and Forecast, By End-Use
12.4 Latin America Solar Photovoltaic Market Size and Forecast, By Deployment
12.5 Latin America Solar Photovoltaic Market Size and Forecast, By Country
12.5.1 Brazil
12.5.2 Rest of Latin America
13 Middle East Solar Photovoltaic Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Middle East Solar Photovoltaic Market Share Analysis, By Type
13.3 Middle East Solar Photovoltaic Market Size and Forecast, By End-Use
13.4 Middle East Solar Photovoltaic Market Size and Forecast, By Deployment
13.5 Middle East Solar Photovoltaic Market Size and Forecast, By Country
13.5.1 Saudi Arabia
13.5.2 UAE
13.5.3 Egypt
13.5.4 Kuwait
13.5.5 South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 First Solar Inc
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 SolarWorld AG
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Jinko Solar
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Trina Solar
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 SunPower Corporation
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 JA Solar
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Yingli Solar
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Canadian Solar Inc
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Longi Solar
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Risen Energy
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
15.11 Hanwha Q Cells
15.11.1 Overview
15.11.2 Offerings
15.11.3 Key Financials
15.11.4 Business Segment & Geographic Overview
15.11.5 Key Market Developments
15.11.6 Key Strategies
15.12 REC Group
15.12.1 Overview
15.12.2 Offerings
15.12.3 Key Financials
15.12.4 Business Segment & Geographic Overview
15.12.5 Key Market Developments
15.12.6 Key Strategies
15.13 Talesun Solar
15.13.1 Overview
15.13.2 Offerings
15.13.3 Key Financials
15.13.4 Business Segment & Geographic Overview
15.13.5 Key Market Developments
15.13.6 Key Strategies
15.14 LG Electronics
15.14.1 Overview
15.14.2 Offerings
15.14.3 Key Financials
15.14.4 Business Segment & Geographic Overview
15.14.5 Key Market Developments
15.14.6 Key Strategies
15.15 Shunfeng International Clean Energy
15.15.1 Overview
15.15.2 Offerings
15.15.3 Key Financials
15.15.4 Business Segment & Geographic Overview
15.15.5 Key Market Developments
15.15.6 Key Strategies
15.16 Sharp Solar
15.16.1 Overview
15.16.2 Offerings
15.16.3 Key Financials
15.16.4 Business Segment & Geographic Overview
15.16.5 Key Market Developments
15.16.6 Key Strategies
15.17 Seraphim Solar
15.17.1 Overview
15.17.2 Offerings
15.17.3 Key Financials
15.17.4 Business Segment & Geographic Overview
15.17.5 Key Market Developments
15.17.6 Key Strategies