Global Solar Photovoltaic Equipment Market- By Voltage Type (400V, 600V, 1000V & 1500V), By Installation Mode (Ground Mounted Vs Rooftop), By End User (Industrial, Commercial & Residential), By Module Type (Monocrystalline, Polycrystalline & Thin Film), By Type (Circuit Configuration, Module Mounting Systems, Solar Charge Controllers), and By Region (North America, Europe, Asia Pacific, South America, and Middle East, & Africa)- Global forecast from 2020-2027.
Global Solar Photovoltaic Equipment Market Overview:
Solar photovoltaic equipment helps directly converting sunlight into electricity. The photovoltaic effect helps in creating the flow of electrons inside the module, which can maximize by the increased hours of exposure to sunlight.
Global Solar Photovoltaic Equipment Market Insights
The global solar photovoltaic equipment market expected to increase market value by USD 200.32 billion with exponential CAGR in the forecast period from 2020-2027. The market demand for solar photovoltaic equipment is rising at an impressive rate owing to various measures to encourage the development of photovoltaics and coupled with increasing requirement of power plants to increase their installed capacity renewable energy power generation.
Technological innovation is the key to improving efficiency, reducing costs, and making extensive use of solar power. Technical innovation is also the backbone of solar energy to promote energy transformation and, ultimately, become an essential part of the global energy structure.
Solar photovoltaic equipment supports the photovoltaic industry’s manufacturing process, improving photoelectric conversion efficiency and reducing the cost of photovoltaic power generation.
Moreover, increasing emphasis on the use of green and eco-friendly energy and rising construction activities expected to propel the growth of the global solar photovoltaic equipment industry. Additionally, being a renewable source of energy, solar power equipment helps to meet specific goals for secure, reliable, and affordable energy. Thus, providing electricity access with lesser price variations. Furthermore, new solar power projects undertaken by the key players boost the growth of the market.
Growth Driver
Considerable Flexibility
The use of solar photovoltaic equipment has various economic advantages such as it is inexhaustible, and no tax is levied when receiving solar energy and can be used anywhere. From the perspective of the construction cost of solar photovoltaic power stations, with the large-scale application, the upstream crystalline silicon industry and photovoltaic power generation technology are becoming mature. Thus, increase the market demand for solar photovoltaic equipment in the development of industrial and commercial use.
Changing Lifestyle of People
Solar energy, like clean energy such as wind energy and tidal energy, produces almost no pollution when it is developed and utilized. Its unlimited reserves make it an ideal alternative energy source for humanity. The traditional fossil fuels (coal, oil, and natural gas) emit a lot of toxic and hazardous substances during use. Therefore, an urgent need to develop cleaner and new alternative energy sources. Solar energy, as a relatively ideal clean energy source, is receiving increasing attention from all countries in the world.
By Voltage Type Segmental Analysis
Based on the voltage type, the global solar photovoltaic equipment market segment into 400V, 600V, 1000V & 1500V. The 1000V & 1500V section estimated to dominate the maximum share of the global solar photovoltaic equipment market. Solar panels produce direct current voltage, when connected to an electric circuit, they generate direct current (DC). The energy of 1,000 or 1,500 volts from the solar strings down to the (AC) grid voltage. Thereby, to lower the cost of electrical components, large-scale PV developers and EPCs are looking to next-generation 1500 Volt system designs and systems that use distributed power conversion (DPC) in 1000-volt environments.
By Installation Mode Segmental Analysis
Based on installation-mode, the global solar photovoltaic equipment market classified into Ground Mounted and Rooftop. The rooftop segment dominated the largest market share in the global solar photovoltaic equipment market. The main growth drivers of rooftop solar markets are in the commercial and industrial sectors due to photovoltaics being cheaper than commercial and industrial electricity prices and the average electricity price. Therefore, the use of photovoltaics will reduce the cost of electricity for industrial and business users. Moreover, in the forecast period, the cost of photovoltaic installations decline, and retail electricity price will rise, and then the adoption of solar photovoltaic equipment will fuel the market growth.
By End-user Segmental Analysis
Based on end-user, the global solar photovoltaic equipment market segmented into Industrial, Commercial & Residential. The industrial segment is dominating the market share for the global solar photovoltaic equipment market. It is mainly to the rising investment in utility projects to reduce the cost of electricity, and the adoption of renewable energy is propelling the demand for solar photovoltaic equipment.
By Module Type Segmental Analysis
Based on the module type, the global solar photovoltaic equipment market categorized into Monocrystalline, Polycrystalline & Thin Film. The monocrystalline segment captures the largest market share in the global solar photovoltaic equipment market. The monocrystalline also refers to as a single crystalline that has 15% of operating efficiency. The monocrystalline drive features are used for industrial purposes as mono-si solar panels have a longer shelf life, space efficiency, and an operating efficiency due to the use of the highest grade of silicon during manufacturing.
By Type Segmental Analysis
Based on type, the global solar photovoltaic equipment market classified into Circuit Configuration, Module Mounting Systems, Solar Charge Controllers. The module mounting systems are dominating the market share of the global solar photovoltaic equipment market. It is mainly due to the modular design that reduces the installation time, and cost and pre-assembled mounting structure also help reduce the risk of accident to installers while installing on rooftops.
By Region Segmental Analysis
Based on geography, the global solar photovoltaic equipment market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is the world’s fastest-growing global solar photovoltaic equipment market, accounting for the largest share. It is mainly to the adoption of environment-friendly techniques, raising awareness for the use of innovative green technologies.
Competitor Analysis
Companies such as Hanwha, First Solar, SunPower, Elkem Solar, Sharp, Kyocera Solar, Solar Frontier, Solarworld, NSP, Trina Solar, Canadian Solar, Jinko Solar, JA Solar, GCL System Integration, Yingli, Shunfeng, ReneSola, Risen, Chint Group, Hareonsolar, Eging PV, CSUN, BYD, HT-SAAE and other key players in the global solar photovoltaic equipment market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global solar photovoltaic equipment manufacturing companies
- Research organizations and consulting companies’ solar photovoltaic equipment
- Regulatory bodies
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Installation Mode
- Ground Mounted
- Rooftop
By Module Type
- Monocrystalline
- Polycrystalline
- Thin Film
By End-Use
- Residential
- Commercial
- Industrial
By Voltage Type
- 400V
- 600V
- 1000V
- 1500V
By Type
- Inverters
- Solar Tracking System
- Module Mounting Systems
- Circuit Configurations
- Solar Charge Controllers
- Others
By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
Global Solar Photovoltaic Equipment Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Economic Factor Analysis
- Global Solar Photovoltaic Equipment Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Market Share & Forecast, 2016-2027
- By Installation Mode
- Ground Mounted
- Rooftop
- By Module Type
- Monocrystalline
- Polycrystalline
- Thin Film
- By End-Use
- Residential
- Commercial
- Industrial
- By Voltage Type
- 400V
- 600V
- 1000V
- 1500V
- By Type
- Inverters
- Solar Tracking System
- Module Mounting Systems
- Circuit Configurations
- Solar Charge Controllers
- Others
- By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Installation Mode
- Demand
- Market Size & Forecast, 2016-2027
- Europe Solar Photovoltaic Equipment Market Overview
- Europe Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Europe Solar Photovoltaic Equipment Market Share & Forecast, 2016-2027
- By Installation Mode
- Ground Mounted
- Rooftop
- By Module Type
- Monocrystalline
- Polycrystalline
- Thin Film
- By End-Use
- Residential
- Commercial
- Industrial
- By Voltage Type
- 400V
- 600V
- 1000V
- 1500V
- By Type
- Inverters
- Solar Tracking System
- Module Mounting Systems
- Circuit Configurations
- Solar Charge Controllers
- Others
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Solar Photovoltaic Equipment Market
- By Installation Mode
- Demand
- Europe Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- North America Solar Photovoltaic Equipment Market Overview
- North America Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- North America Solar Photovoltaic Equipment Market Share & Forecast, 2016-2027
- By Installation Mode
- Ground Mounted
- Rooftop
- By Module Type
- Monocrystalline
- Polycrystalline
- Thin Film
- By End-Use
- Residential
- Commercial
- Industrial
- By Voltage Type
- 400V
- 600V
- 1000V
- 1500V
- By Type
- Inverters
- Solar Tracking System
- Module Mounting Systems
- Circuit Configurations
- Solar Charge Controllers
- Others
- By Country
- US
- Canada
- Mexico
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Solar Photovoltaic Equipment Market
- By Installation Mode
- Demand
- North America Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- Asia Pacific Solar Photovoltaic Equipment Market Overview
- Asia Pacific Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Asia Pacific Solar Photovoltaic Equipment Market Share & Forecast, 2016-2027
- By Installation Mode
- Ground Mounted
- Rooftop
- By Module Type
- Monocrystalline
- Polycrystalline
- Thin Film
- By End-Use
- Residential
- Commercial
- Industrial
- By Voltage Type
- 400V
- 600V
- 1000V
- 1500V
- By Type
- Inverters
- Solar Tracking System
- Module Mounting Systems
- Circuit Configurations
- Solar Charge Controllers
- Others
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Company Market Share (Top 3-5)
- Economic Solar Photovoltaic Equipment Market Overview
- By Installation Mode
- South America Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- South America Solar Photovoltaic Equipment Market Share & Forecast, 2016-2027
- By Installation Mode
- Ground Mounted
- Rooftop
- By Module Type
- Monocrystalline
- Polycrystalline
- Thin Film
- By End-Use
- Residential
- Commercial
- Industrial
- By Voltage Type
- 400V
- 600V
- 1000V
- 1500V
- By Type
- Inverters
- Solar Tracking System
- Module Mounting Systems
- Circuit Configurations
- Solar Charge Controllers
- Others
- By Country
- Brazil
- Argentina
- Rest of South America
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Solar Photovoltaic Equipment Market
- By Installation Mode
- Demand
- Demand
- Asia Pacific Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- Middle East & Africa Solar Photovoltaic Equipment Market Overview
- Middle East & Africa Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Middle East & Africa Solar Photovoltaic Equipment Market Share & Forecast, 2016-2027
- By Installation Mode
- Ground Mounted
- Rooftop
- By Module Type
- Monocrystalline
- Polycrystalline
- Thin Film
- By End-Use
- Residential
- Commercial
- Industrial
- By Voltage Type
- 400V
- 600V
- 1000V
- 1500V
- By Type
- Inverters
- Solar Tracking System
- Module Mounting Systems
- Circuit Configurations
- Solar Charge Controllers
- Others
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Solar Photovoltaic Equipment Market
- By Installation Mode
- Demand
- Middle East & Africa Solar Photovoltaic Equipment Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Hanwha
- First Solar
- SunPower
- Elkem Solar
- Sharp
- Kyocera Solar
- Solar Frontier
- Solarworld
- NSP
- Trina Solar
- Canadian Solar
- Jinko Solar
- JA Solar
- GCL System Integration
- Yingli
- Shunfeng
- ReneSola
- Risen
- Chint Group
- Hareonsolar
- Eging PV
- CSUN
- BYD
- HT-SAAE
- Other players