The global photovoltaic market is estimated to grow at a moderate rate during the forecast period from 2019 to 2023.The transformation witnessed in the harnessing of solar energy is backing the expansion of the photovoltaic Industry. Market reports linked to the semiconductors and electronics industry have been presented by Market Research Future which makes reports on other industry verticals that seeks to study the current market scenarios better.
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The photovoltaic market is inspired by the growing demand for generating clean energy. The popularity of alternate energy sources is anticipated to create opportunities for development in the forecast period. Furthermore, increasing concerns about rising carbon footprint around the world will create further impetus for progress in the upcoming years.
Photovoltaic Market Competitive Analysis
The market shows an escalated growth pace due to the positive influence exerted by the market forces. The absorbed costs in the market are easily dealt with, opening up more room for development in the market. The promotional and other related expenses are improved particularly due to the progress of the market. The competitors are devotedly undertaking the obstacles to development and are building strategies that can lead to a beneficial effect on the market’s growth. Certain regions in the market are expected to achieve an absolute advantage in the market place due to optimized strategies. The accretive nature of some of the assets in the market is expected to boost the growth potential of the market. Additionally, the alliances being created in the market are expected to further motivate the expansion of the market in the coming years.
The significant companies in the photovoltaic market globally are Canadian Solar Inc. (Canada), Jinko Solar Holding Co., Ltd. (China), Hanwha Q CELLS Co., Ltd. (South Korea), GCL System Integration (Hong Kong), Mitsubishi Electric Corporation (Japan), JA Solar Holdings (China), Trina Solar Limited (China), Sharp Corporation (Japan), Kaneka Corporation (Japan), Risen Energy Co. Ltd (China), Shunfeng International Clean Energy Limited (China), Suntech Power Co. among others.
Photovoltaic Market Segmental Analysis
The segmentation-based analysis of the photovoltaic market is carried out on the basis of type, component, application, and region. On the basis of type, the photovoltaic market segmented into inorganic PV and organic PV. Based on the components, the photovoltaic market is segmented into modules, cells, and optics. The segmentation of the photovoltaic market on the basis of application comprises of non-residential applications and residential applications. The regions included in the photovoltaic market is segmented into, Europe, North America Asia Pacific and the rest of the world.
The global market for photovoltaic is estimated to grow at a moderate rate during the forecast period from 2018 to 2023. The geographical analysis of photovoltaic market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the photovoltaic market due to the presence of various key players and vendors in the region. China is dominating the photovoltaic market in both the use and manufacturing with a market share of more than 35% in the global photovoltaic market. Additionally, the government of India is taking initiatives by providing subsidy to the factories and manufacturing facilities using solar panels for power generation. In the Asia-Pacific region, several research and development activities are taking place to increase the power generation capacity. The government and key players are investing in the region to increase the power generation without increasing the carbon footprint that leads to the market growth. North America is expected to be the second-largest region due to presence of various industries and key players in the region along with various initiatives taken by the government. Europe is considered to grow at a moderate rate due to low investment activity by the European Union in the region for solar energy.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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LIST OF TABLES
Table 1 Global Photovoltaic Market, By Region, 2018–2023
Table 2 North America: Photovoltaic Market, By Country, 2018–2023
Table 3 Europe: Photovoltaic Market, By Country, 2018–2023
LIST OF FIGURES
FIGURE 1 Global Photovoltaic Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Photovoltaic Market
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