Photovoltaics Market - Global Forecast To 2030
商品番号 : SMB-27671
| 出版社 | MarketsandMarkets |
| 出版年月 | 2025年6月 |
| ページ数 | 290 |
| 図表数 | 314 |
| 価格タイプ | シングルユーザライセンス |
| 価格 | USD 4,950 |
| 種別 | 英文調査報告書 |
この調査レポートでは、太陽光発電市場をコンポーネント（モジュール、インバータ、バランスオブシステム）、タイプ（リジッド、フレキシブル）、材料タイプ（シリコン、銅インジウムガリウムセレン化物（CIGS）、カドミウムテルル化物（CDTE）、ペロブスカイト、有機太陽電池、量子ドット）、セルタイプ（フルセルPVモジュール、ハーフセルPVモジュール）、設置タイプ（地上設置型、建物一体型、浮体式）、用途（住宅用、商業・工業用、公共事業）、および地域（北米、欧州、アジア太平洋地域、その他の地域）に基づいて分類しています。レポートでは、太陽光発電市場に関する主要な推進要因、制約、課題、機会について説明し、2030年までの予測を行っています。また、太陽光発電エコシステムに属するすべての企業のリーダーシップマッピングと分析も含まれています。
The declining cost of photovoltaic (PV) and energy storage systems is significantly accelerating the growth of the photovoltaics market. As technology advances and economies of scale increase, the installation and upkeep expenditures of solar PV systems have fallen. In the same way, innovations in battery technology decreased storage prices, making solar energy more stable and affordable. These cost savings increase the return on investment, increasing the attractiveness of PV systems for residential, commercial, and utility customers. Consequently, affordability accelerates broader adoption and enables the global shift to renewable energy.
太陽光発電（PV）システムとエネルギー貯蔵システムのコスト低下は、太陽光発電市場の成長を大きく加速させています。技術の進歩と規模の経済性の向上に伴い、太陽光発電システムの設置・維持費は低下しています。同様に、バッテリー技術の革新により貯蔵価格が下落し、太陽エネルギーはより安定し、手頃な価格になりました。こうしたコスト削減は投資収益率（ROI）を高め、住宅、商業、そして電力会社といった顧客にとってPVシステムの魅力を高めています。結果として、価格の手頃さは普及を加速させ、再生可能エネルギーへの世界的な移行を可能にします。
“Rigid segment is expected to account for largest share of photovoltaics market in 2030”
The rigid type of segment is expected to hold a larger market share in the photovoltaics market due to its widespread use in residential, commercial, and utility-scale installations. These panel types can achieve higher efficiency rates, require less maintenance, and can operate longer than flexible alternatives. Rigid panels are established in the manufacturing sectors and tend to have comparable prices with their alternatives. Rigid panels are compatible with fixed installations where minimal structural limitations exist. As demand increases for large-scale solar projects, their utility in a solar project will not diminish.
“Inverters segment is likely to witness highest CAGR during the forecast period”
Inverters are expected to register the highest CAGR in the photovoltaics market during the forecast period due to their critical role in converting DC electricity generated by solar panels into usable AC power. The rising adoption of smart inverters with grid-support functionalities, remote monitoring, and energy storage integration drives their demand across residential, commercial, and utility-scale projects. Additionally, advancements in inverter efficiency, modular designs, and compliance with evolving grid regulations further accelerate their deployment. As distributed energy resources grow, inverters are becoming essential for optimizing solar system performance and enabling grid stability.
“China is projected to hold largest share of Asia Pacific photovoltaics market in 2030”
China is expected to hold the largest share of the Asia Pacific photovoltaics market by 2030, driven by its dominant manufacturing capacity and strong policy support. The country is the global leader in the production of solar modules, wafers, and polysilicon, reaping the benefits of economies of scale and cost savings. For instance, according to the National Renewable Energy Laboratory (Spring 2024 Solar Industry Update). As of January 2024, 26 provinces mandated storage with PV projects, with an average storage capacity requirement equivalent to 12% of the PV capacity.
Extensive primary interviews were conducted with key industry experts in the photovoltaics market space to determine and verify the market size for various segments and subsegments gathered through secondary research. The breakup of primary participants for the report is shown below: The study contains insights from various industry experts, from component suppliers to Tier 1 companies and OEMs. The breakup of the primaries is as follows:
- By Company Type: Tier 1 – 40%, Tier 2 – 40%, and Tier 3 – 20%
- By Designation: C-level Executives – 40%, Directors – 40%, and Others – 20%
- By Region: North America – 40%, Europe – 30%, Asia Pacific – 20%, and RoW – 10%
Note: Three tiers of companies are defined based on their total revenue as of 2024: tier 1: revenue more than or equal to USD 500 million, tier 2: revenue between USD 100 million and USD 500 million, and tier 3: revenue less than or equal to USD 100 million.
Jinko Solar (China), JA SOLAR Technology Co., Ltd. (China), Trinasolar (China), LONGi (China), Tongwei Co.Ltd (China), Canadian Solar (Canada), First Solar (US), Hanwha Qcells (South Korea), Mitsubishi Electric Corporation (Japan), SHARP CORPORATION (Japan), Wuxi Suntech Power Co., Ltd. (China), Huawei Technologies Co., Ltd. (China), SUNGROW (China), SMA Solar Technology AG (Germany), SolarEdge (Israel) are some key players in the photovoltaics market.
The study includes an in-depth competitive analysis of these key players in the photovoltaics market, with their company profiles, recent developments, and key market strategies.
Study Coverage: This research report categorizes the photovoltaics market based on component (modules, inverters, balance of system), type (rigid, flexible), material type [silicon, copper indium gallium selenide (CIGS), cadmium telluride (CDTE), perovskite, organic photovoltaic, quantum dot], cell type (full-cell PV modules, half-cell PV modules), installation type (ground-mounted, building-integrated, floating), application (residential, commercial & industrial, utilities), and region (North America, Europe, Asia Pacific, and RoW). The report describes the major drivers, restraints, challenges, and opportunities pertaining to the photovoltaics market and forecasts the same till 2030. The report also consists of leadership mapping and analysis of all the companies in the photovoltaic ecosystem.
Key Benefits of Buying the Report The report will help the market leaders/new entrants in this market by providing information on the closest approximations of the revenue numbers for the overall photovoltaics market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (rising solar installations due to government-led incentives and schemes, growing adoption of PV systems in residential applications, decreasing cost of energy storage devices), restraints (lack of skilled workforce for PV installation and maintenance,), opportunities (increasing investment in renewable energy, ongoing technological developments such as Perovskite solar cell manufacturing), and challenges (issues related to land acquisition for deployment of solar projects) influencing the growth of the photovoltaics market
- Product Development/Innovation: Detailed insights into upcoming technologies, research and development activities, and the latest product and service launches in the photovoltaics market
- Market Development: Comprehensive information about lucrative markets–the report analyzes the photovoltaics market across varied regions
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the photovoltaics market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, such as Jinko Solar (China), JA SOLAR Technology Co., Ltd. (China), Trinasolar (China), LONGi (China), Tongwei Co.Ltd (China) in the photovoltaics market
Table of Contents
1 INTRODUCTION 26
1.1 STUDY OBJECTIVES 26
1.2 MARKET DEFINITION 26
1.3 STUDY SCOPE 26
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 26
1.3.2 INCLUSIONS AND EXCLUSIONS 28
1.3.3 YEARS CONSIDERED 29
1.4 CURRENCY CONSIDERED 29
1.5 UNIT CONSIDERED 29
1.6 STAKEHOLDERS 29
1.7 SUMMARY OF CHANGES 30
2 RESEARCH METHODOLOGY 31
2.1 RESEARCH DATA 31
2.1.1 SECONDARY DATA 32
2.1.1.1 List of key secondary sources 32
2.1.1.2 Key data from secondary sources 33
2.1.2 PRIMARY DATA 33
2.1.2.1 List of primary interview participants 33
2.1.2.2 Breakdown of primaries 34
2.1.2.3 Key data from primary sources 34
2.1.2.4 Key industry insights 35
2.1.3 SECONDARY AND PRIMARY RESEARCH 35
2.2 MARKET SIZE ESTIMATION 36
2.2.1 BOTTOM-UP APPROACH 36
2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side) 37
2.2.2 TOP-DOWN APPROACH 38
2.2.2.1 Approach to arrive at market size using top-down analysis (supply side) 38
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.4 RESEARCH ASSUMPTIONS 40
2.5 RESEARCH LIMITATIONS 40
2.6 RISK ANALYSIS 41
3 EXECUTIVE SUMMARY 42
4 PREMIUM INSIGHTS 46
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PHOTOVOLTAICS MARKET 46
4.2 PHOTOVOLTAICS MARKET, BY CELL TYPE 46
4.3 PHOTOVOLTAICS MARKET, BY INSTALLATION TYPE 47
4.4 PHOTOVOLTAICS MARKET, BY APPLICATION 47
4.5 PHOTOVOLTAICS MARKET IN ASIA PACIFIC, BY COUNTRY AND APPLICATION 48
4.6 PHOTOVOLTAICS MARKET, BY GEOGRAPHY 48
5 MARKET OVERVIEW 49
5.1 INTRODUCTION 49
5.2 MARKET DYNAMICS 49
5.2.1 DRIVERS 50
5.2.1.1 Rising government incentives and schemes to encourage solar energy adoption 50
5.2.1.2 Growing installation of PV systems in residential sector 51
5.2.1.3 Low maintenance and operational costs of solar PV systems 51
5.2.2 RESTRAINTS 52
5.2.2.1 Shortage of skilled workforce for PV installation 52
5.2.2.2 Safety risks associated with high DC voltages 52
5.2.3 OPPORTUNITIES 53
5.2.3.1 Increasing investment in renewable energy to address climate change 53
5.2.3.2 Rapid advances in Perovskite PV technology 53
5.2.4 CHALLENGES 54
5.2.4.1 Legal issues related to land allotment for solar deployment 55
5.3 SUPPLY CHAIN ANALYSIS 55
5.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 57
5.5 ECOSYSTEM ANALYSIS 58
5.6 PORTER’S FIVE FORCES ANALYSIS 60
5.6.1 THREAT OF NEW ENTRANTS 61
5.6.2 THREAT OF SUBSTITUTES 61
5.6.3 BARGAINING POWER OF SUPPLIERS 61
5.6.4 BARGAINING POWER OF BUYERS 62
5.6.5 INTENSITY OF COMPETITIVE RIVALRY 62
5.7 KEY STAKEHOLDERS AND BUYING CRITERIA 62
5.7.1 KEY STAKEHOLDERS IN BUYING PROCESS 62
5.7.2 BUYING CRITERIA 63
5.8 CASE STUDY ANALYSIS 64
5.8.1 TATA POWER SOLAR COMMISSIONS 3 MW SOLAR PV POWER PLANT IN IRON ORE MINE IN INDIA 64
5.8.2 COPENHAGEN ZOO INSTALLS HANWHA QCELLS’ Q.PEAK DUO SOLAR MODULES TO MEET SUSTAINABILITY GOALS 64
5.8.3 BIG C SUPERMARKET USES SHARP CORPORATION’S ROOFTOP SOLAR PANELS TO CURB EMISSIONS IN THAILAND 65
5.8.4 HEWLETT PACKARD INSTALLS ROOFTOP SOLAR PANELS TO REDUCE CARBON DIOXIDE EMISSIONS 65
5.8.5 LONGI INSTALLS PV POWER PLANT AT GUIZHOU COMPLEX IN CHINA TO HARNESS SOLAR ENERGY 65
5.9 INVESTMENT AND FUNDING SCENARIO 65
5.10 TECHNOLOGY ANALYSIS 66
5.10.1 KEY TECHNOLOGIES 66
5.10.1.1 Perovskite 66
5.10.1.2 Quantum dots 66
5.10.1.3 Dye-sensitized solar cells (DSSCs) 67
5.10.1.4 Organic solar cells 67
5.10.2 COMPLEMENTARY TECHNOLOGIES 67
5.10.2.1 Inverters 67
5.10.2.2 Power electronics 68
5.10.3 ADJACENT TECHNOLOGIES 68
5.10.3.1 Wind energy systems 68
5.11 TRADE ANALYSIS 68
5.11.1 IMPORT SCENARIO (HS CODE 854140) 69
5.11.2 EXPORT SCENARIO (HS CODE 854140) 70
5.12 PATENT ANALYSIS 71
5.13 TARIFF AND REGULATORY LANDSCAPE 73
5.13.1 TARIFF ANALYSIS 73
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 74
5.13.3 REGULATIONS 77
5.13.4 STANDARDS 78
5.14 KEY CONFERENCES AND EVENTS, 2025–2026 78
5.15 PRICING ANALYSIS 79
5.15.1 PRICING RANGE OF PV MODULES OFFERED BY KEY PLAYERS, BY APPLICATION, 2024 79
5.15.2 AVERAGE SELLING PRICE TREND OF PHOTOVOLTAIC CELLS, BY REGION, 2021–2024 80
5.16 IMPACT OF AI/GEN AI ON PHOTOVOLTAICS MARKET 81
5.17 IMPACT OF 2025 US TARIFF ON PHOTOVOLTAICS MARKET 82
5.17.1 INTRODUCTION 82
5.17.2 KEY TARIFF RATES 82
5.17.3 PRICE IMPACT ANALYSIS 84
5.17.4 IMPACT ON COUNTRIES/REGIONS 84
5.17.4.1 US 84
5.17.4.2 Europe 85
5.17.4.3 Asia Pacific 85
5.18 IMPACT ON APPLICATIONS 86
6 PHOTOVOLTAIC CONCENTRATION LEVELS 87
6.1 INTRODUCTION 87
6.2 HIGH CONCENTRATION 87
6.3 MEDIUM CONCENTRATION 87
6.4 LOW CONCENTRATION 87
7 POWER CAPACITY RANGES OF PHOTOVOLTAIC SYSTEMS 88
7.1 INTRODUCTION 88
7.2 UP TO 100 WP 88
7.3 100.1–300 WP 88
7.4 ABOVE 300 WP 89
8 PHOTOVOLTAICS MARKET, BY COMPONENT 91
8.1 INTRODUCTION 92
8.2 MODULES 93
8.2.1 USE TO BOOST POWER OUTPUTS OF PV CELLS TO CONTRIBUTE TO SEGMENTAL GROWTH 93
8.2.2 PV MODULE TYPES 93
8.2.2.1 Organic PV modules 94
8.2.2.2 Inorganic PV modules 94
8.2.2.3 Hybrid PV modules 94
8.2.3 PV CELL TYPES 95
8.2.3.1 60 cells 95
8.2.3.2 72 cells 96
8.2.3.3 96 cells 97
8.3 INVERTERS 98
8.3.1 ABILITY TO MONITOR POWER GRID WITH ADHERENCE TO SAFETY STANDARDS TO FOSTER SEGMENTAL GROWTH 98
8.4 BALANCE OF SYSTEM (BOS) 100
8.4.1 CONNECTIONS & CABLES 104
8.4.1.1 Strong focus on ensuring safe and optimal functioning of PV systems to spur demand 104
8.4.2 JUNCTION BOXES 104
8.4.2.1 Use to protect solar panels using diodes to accelerate segmental growth 104
8.4.3 SAFETY EQUIPMENT 104
8.4.3.1 High emphasis on preventing high voltage damage to PV systems to bolster segmental growth 104
8.4.4 TRACKERS 105
8.4.4.1 Ability to increase solar energy output to contribute to segmental growth 105
8.4.5 BATTERIES 106
8.4.5.1 Development of efficient energy storage devices for residential and commercial use to fuel segmental growth 106
8.4.6 MONITORING SYSTEMS 106
8.4.6.1 Reliable functioning and maximum yield of solar electric systems to boost segmental growth 106
8.4.7 OTHER BOS TYPES 107
9 PHOTOVOLTAICS MARKET, BY TYPE 108
9.1 INTRODUCTION 109
9.2 RIGID 110
9.2.1 HIGH CONVERSION EFFICIENCY, DURABILITY, AND LONG OPERATIONAL LIFE TO BOLSTER SEGMENTAL GROWTH 110
9.3 FLEXIBLE 111
9.3.1 LOW TRANSPORTATION AND INSTALLATION COSTS AND LIGHTWEIGHT FEATURES TO SPUR DEMAND 111
10 PHOTOVOLTAICS MARKET, BY MATERIAL TYPE 113
10.1 INTRODUCTION 114
10.2 SILICON 115
10.2.1 CRYSTALLINE 117
10.2.1.1 Ideal for industrial solar power generation due to enhanced lifespan to expedite segmental growth 117
10.2.2 AMORPHOUS 117
10.2.2.1 High performance in low-light conditions to foster segmental growth 117
10.3 COPPER INDIUM GALLIUM SELENIDE (CIGS) 118
10.3.1 USE TO SUPPORT PV CELL EFFICIENCY AND HIGH ELECTRICITY PRODUCTION TO AUGMENT SEGMENTAL GROWTH 118
10.4 CADMIUM TELLURIDE (CDTE) 119
10.4.1 ABILITY TO CAPTURE ENERGY AT SHORTER WAVELENGTHS TO BOLSTER SEGMENTAL GROWTH 119
10.5 PEROVSKITE 120
10.5.1 LOW PRICE, THIN DESIGN, LOW-TEMPERATURE PROCESSING, AND EXCELLENT LIGHT ABSORPTION PROPERTIES TO DRIVE MARKET 120
10.6 ORGANIC PHOTOVOLTAIC 121
10.6.1 LIGHTWEIGHT, SEMI-TRANSPARENT, AND FLEXIBLE ATTRIBUTES TO FOSTER SEGMENTAL GROWTH 121
10.7 QUANTUM DOT 123
10.7.1 UNIQUE QUANTUM MECHANICAL PROPERTIES AND TUNABLE BANDGAPS TO FACILITATE SEGMENTAL GROWTH 123
11 PHOTOVOLTAICS MARKET, BY CELL TYPE 124
11.1 INTRODUCTION 125
11.2 FUEL-CELL PV MODULES 126
11.2.1 ABILITY TO ENSURE EFFICIENCY AT LOWER COSTS TO SPUR DEMAND 126
11.3 HALF-CELL PV MODULES 126
11.3.1 HIGH OUTPUT RATINGS AND RELIABILITY TO CONTRIBUTE TO SEGMENTAL GROWTH 126
12 PHOTOVOLTAICS MARKET, BY INSTALLATION TYPE 128
12.1 INTRODUCTION 129
12.2 GROUND-MOUNTED 130
12.2.1 HIGH STABILITY AND RESISTANCE TO WIND TO ACCELERATE SEGMENTAL GROWTH 130
12.3 BUILDING-INTEGRATED 131
12.3.1 INSTALLATION IN RESIDENTIAL AND COMMERCIAL BUILDINGS TO FUEL SEGMENTAL GROWTH 131
12.3.2 ROOFTOPS 132
12.3.3 WINDOWS 132
12.4 FLOATING 133
12.4.1 LOW INSTALLATION COSTS AND HIGH POWER PRODUCTION TO BOOST SEGMENTAL GROWTH 133
13 PHOTOVOLTAICS MARKET, BY APPLICATION 134
13.1 INTRODUCTION 135
13.2 RESIDENTIAL 136
13.2.1 RISING INCENTIVES TO BOOST ROOFTOP SOLAR INSTALLATIONS TO EXPEDITE SEGMENTAL GROWTH 136
13.3 COMMERCIAL & INDUSTRIAL 138
13.3.1 INCREASING USE OF PV SYSTEMS TO PROVIDE ELECTRICAL AND THERMAL ENERGY AND ACHIEVE HIGH ENERGY CONVERSION RATE TO DRIVE MARKET 138
13.4 UTILITIES 141
13.4.1 GROWING EMPHASIS ON REDUCING FOSSIL FUEL GENERATION TO BOOST SEGMENTAL GROWTH 141
14 PHOTOVOLTAICS MARKET, BY REGION 143
14.1 INTRODUCTION 144
14.2 NORTH AMERICA 145
14.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA 145
14.2.2 US 149
14.2.2.1 Heightened focus on achieving net-zero emission targets to bolster market growth 149
14.2.3 CANADA 151
14.2.3.1 Rising emphasis on generating power from renewable energy sources to augment market growth 151
14.2.4 MEXICO 152
14.2.4.1 Increasing need for efficient energy storage systems to fuel market growth 152
14.3 EUROPE 154
14.3.1 MACROECONOMIC OUTLOOK FOR EUROPE 154
14.3.2 UK 159
14.3.2.1 Growing focus on producing clean energy to contribute to market growth 159
14.3.3 GERMANY 160
14.3.3.1 Increasing registration for solar energy systems to augment market growth 160
14.3.4 FRANCE 161
14.3.4.1 Rising emphasis on reducing share of nuclear energy to boost market growth 161
14.3.5 ITALY 163
14.3.5.1 Increasing reliance on renewables for power generation to drive market 163
14.3.6 SPAIN 164
14.3.6.1 Strong focus on achieving energy independence to expedite market growth 164
14.3.7 POLAND 165
14.3.7.1 Rising electricity prices and focus on energy security to bolster market growth 165
14.3.8 NORDICS 166
14.3.8.1 Increasing adoption of decentralized energy strategies to fuel market growth 166
14.3.9 REST OF EUROPE 166
14.4 ASIA PACIFIC 168
14.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC 168
14.4.2 CHINA 173
14.4.2.1 Rising cumulative capacity of solar installations to accelerate market growth 173
14.4.3 JAPAN 174
14.4.3.1 Growing emphasis on reducing greenhouse gas emissions to drive market 174
14.4.4 INDIA 175
14.4.4.1 Burgeoning electricity demand to contribute to market growth 175
14.4.5 SOUTH KOREA 177
14.4.5.1 Increasing efforts to make solar energy accessible option to foster market growth 177
14.4.6 AUSTRALIA 178
14.4.6.1 Abundant solar resources and supportive government policies to bolster market growth 178
14.4.7 INDONESIA 179
14.4.7.1 Rising need to diversify energy mix to facilitate market growth 179
14.4.8 MALAYSIA 180
14.4.8.1 Ambitious renewable energy goals to accelerate market growth 180
14.4.9 THAILAND 181
14.4.9.1 Growing focus on industrial decarbonization strategies to boost market growth 181
14.4.10 VIETNAM 182
14.4.10.1 Mounting electricity demand and shift toward clean energy to fuel market growth 182
14.4.11 REST OF ASIA PACIFIC 182
14.5 ROW 183
14.5.1 MACROECONOMIC OUTLOOK FOR ROW 184
14.5.2 MIDDLE EAST 187
14.5.2.1 Bahrain 188
14.5.2.1.1 Rising emphasis on diversifying energy mix to drive market 188
14.5.2.2 Kuwait 189
14.5.2.2.1 Reduced reliance on fossil fuels to contribute to market growth 189
14.5.2.3 Oman 189
14.5.2.3.1 Strategic energy diversification goals to fuel market growth 189
14.5.2.4 Qatar 189
14.5.2.4.1 Sustainability goals and high solar potential to create market growth opportunities 189
14.5.2.5 Saudi Arabia 190
14.5.2.5.1 Abundant solar resources and large-scale solar project development to drive market 190
14.5.2.6 Rest of Middle East 190
14.5.3 AFRICA 191
14.5.3.1 South Africa 192
14.5.3.1.1 Increased rate of blackouts due to energy shortages to augment market growth 192
14.5.3.2 Other African countries 192
14.5.4 SOUTH AMERICA 192
14.5.4.1 Increased investment in power distribution sector to boost market growth 192
15 COMPETITIVE LANDSCAPE 194
15.1 OVERVIEW 194
15.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2023–2025 194
15.3 REVENUE ANALYSIS, 2022–2024 196
15.4 MARKET SHARE ANALYSIS, 2024 197
15.5 COMPANY VALUATION AND FINANCIAL METRICS 199
15.6 BRAND COMPARISON 200
15.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 201
15.7.1 STARS 201
15.7.2 EMERGING LEADERS 201
15.7.3 PERVASIVE PLAYERS 201
15.7.4 PARTICIPANTS 201
15.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 203
15.7.5.1 Company footprint 203
15.7.5.2 Region footprint 204
15.7.5.3 Component footprint 205
15.7.5.4 Material type footprint 206
15.7.5.5 Type footprint 207
15.7.5.6 Application footprint 209
15.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 210
15.8.1 PROGRESSIVE COMPANIES 210
15.8.2 RESPONSIVE COMPANIES 210
15.8.3 DYNAMIC COMPANIES 210
15.8.4 STARTING BLOCKS 210
15.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 212
15.8.5.1 Detailed list of key startups/SMEs 212
15.8.5.2 Competitive benchmarking of key startups/SMEs 212
15.9 COMPETITIVE SCENARIO 213
15.9.1 PRODUCT LAUNCHES 213
15.9.2 DEALS 214
15.9.3 OTHER DEVELOPMENTS 215
16 COMPANY PROFILES 216
16.1 KEY PLAYERS 216
16.1.1 JINKO SOLAR 216
16.1.1.1 Business overview 216
16.1.1.2 Products/Solutions/Services offered 217
16.1.1.3 Recent developments 218
16.1.1.3.1 Product launches 218
16.1.1.3.2 Deals 219
16.1.1.4 MnM view 219
16.1.1.4.1 Key strengths/Right to win 219
16.1.1.4.2 Strategic choices 220
16.1.1.4.3 Weaknesses/Competitive threats 220
16.1.2 JA SOLAR TECHNOLOGY CO.,LTD. 221
16.1.2.1 Business overview 221
16.1.2.2 Products/Solutions/Services offered 221
16.1.2.3 Recent developments 223
16.1.2.3.1 Deals 223
16.1.2.4 MnM view 223
16.1.2.4.1 Key strengths/Right to win 223
16.1.2.4.2 Strategic choices 223
16.1.2.4.3 Weaknesses/Competitive threats 224
16.1.3 TRINASOLAR 225
16.1.3.1 Business overview 225
16.1.3.2 Products/Solutions/Services offered 225
16.1.3.3 Recent developments 226
16.1.3.3.1 Product launches 226
16.1.3.3.2 Deals 227
16.1.3.3.3 Other developments 227
16.1.3.4 MnM view 228
16.1.3.4.1 Key strengths/Right to win 228
16.1.3.4.2 Strategic choices 228
16.1.3.4.3 Weaknesses/Competitive threats 228
16.1.4 LONGI 229
16.1.4.1 Business overview 229
16.1.4.2 Products/Solutions/Services offered 230
16.1.4.3 Recent developments 232
16.1.4.3.1 Product launches 232
16.1.4.3.2 Deals 232
16.1.4.4 MnM view 233
16.1.4.4.1 Key strengths/Right to win 233
16.1.4.4.2 Strategic choices 233
16.1.4.4.3 Weaknesses/Competitive threats 233
16.1.5 TONGWEI CO., LTD. 234
16.1.5.1 Business overview 234
16.1.5.2 Products/Solutions/Services offered 235
16.1.5.3 Recent developments 236
16.1.5.3.1 Developments 236
16.1.5.4 MnM view 236
16.1.5.4.1 Key strengths/Right to win 236
16.1.5.4.2 Strategic choices 236
16.1.5.4.3 Weaknesses/Competitive threats 236
16.1.6 CANADIAN SOLAR 237
16.1.6.1 Business overview 237
16.1.6.2 Products/Solutions/Services offered 238
16.1.6.3 Recent developments 239
16.1.6.3.1 Product launches 239
16.1.6.3.2 Deals 240
16.1.6.3.3 Expansions 240
16.1.7 FIRST SOLAR 241
16.1.7.1 Business overview 241
16.1.7.2 Products/Solutions/Services offered 242
16.1.7.3 Recent developments 243
16.1.7.3.1 Expansions 243
16.1.8 HANWHA QCELLS 244
16.1.8.1 Business overview 244
16.1.8.2 Products/Solutions/Services offered 244
16.1.8.3 Recent developments 245
16.1.8.3.1 Deals 245
16.1.8.3.2 Other developments 246
16.1.9 MITSUBISHI ELECTRIC CORPORATION 247
16.1.9.1 Business overview 247
16.1.9.2 Products/Solutions/Services offered 248
16.1.9.3 Recent developments 249
16.1.9.3.1 Deals 249
16.1.10 SHARP CORPORATION 250
16.1.10.1 Business overview 250
16.1.10.2 Products/Solutions/Services offered 251
16.1.11 WUXI SUNTECH POWER CO., LTD. 252
16.1.11.1 Business overview 252
16.1.11.2 Products/Solutions/Services offered 252
16.1.11.3 Recent developments 253
16.1.11.3.1 Developments 253
16.1.12 HUAWEI TECHNOLOGIES CO., LTD. 254
16.1.12.1 Business overview 254
16.1.12.2 Products/Solutions/Services offered 255
16.1.12.3 Recent developments 256
16.1.12.3.1 Product launches 256
16.1.13 SUNGROW 257
16.1.13.1 Business overview 257
16.1.13.2 Products/Solutions/Services offered 258
16.1.13.3 Recent developments 258
16.1.13.3.1 Product launches 258
16.1.13.3.2 Deals 259
16.1.14 SMA SOLAR TECHNOLOGY AG 260
16.1.14.1 Business overview 260
16.1.14.2 Products/Solutions/Services offered 261
16.1.15 SOLAREDGE 263
16.1.15.1 Business overview 263
16.1.15.2 Products/Solutions/Services offered 264
16.1.15.3 Recent developments 265
16.1.15.3.1 Product launches 265
16.1.15.3.2 Deals 265
16.1.16 ABB 266
16.1.16.1 Business overview 266
16.1.16.2 Products/Solutions/Services offered 267
16.2 OTHER PLAYERS 269
16.2.1 ARRAY TECHNOLOGIES, INC. 269
16.2.2 ZHEJIANG CHINT NEW ENERGY DEVELOPMENT CO. LTD. 269
16.2.3 GCL-SI 270
16.2.4 NEXTRACKER INC. 271
16.2.5 RISEN ENERGY CO., LTD. 272
16.2.6 YINGLI SOLAR 273
16.2.7 ACCIONA 274
16.2.8 TATA POWER SOLAR SYSTEMS LTD. 275
16.2.9 WAAREE ENERGIES LTD. 276
16.2.10 SHUNFENG INTERNATIONAL CLEAN ENERGY CO., LTD. 277
16.2.11 EMMVEE SOLAR 278
16.2.12 ALLEARTH RENEWABLES 278
16.2.13 EATON 279
16.2.14 POWER ELECTRONICS S.L. 280
16.2.15 FIMER 281
17 APPENDIX 282
17.1 DISCUSSION GUIDE 282
17.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 286
17.3 CUSTOMIZATION OPTIONS 288
17.4 RELATED REPORTS 288
17.5 AUTHOR DETAILS 289
LIST OF TABLES
TABLE 1 LIST OF KEY SECONDARY SOURCES 32
TABLE 2 LIST OF PRIMARY INTERVIEW PARTICIPANTS 33
TABLE 3 MAJOR SOLAR PROJECTS ACROSS VARIOUS REGIONS 37
TABLE 4 PHOTOVOLTAICS MARKET: RISK ANALYSIS 41
TABLE 5 ROLE OF COMPANIES IN PHOTOVOLTAICS ECOSYSTEM 59
TABLE 6 PORTER’S FIVE FORCES ANALYSIS 61
TABLE 7 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION (%) 63
TABLE 8 KEY BUYING CRITERIA, BY APPLICATION 63
TABLE 9 IMPORT DATA FOR HS CODE 854140-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD THOUSAND) 69
TABLE 10 EXPORT DATA FOR HS CODE 854140-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD THOUSAND) 70
TABLE 11 LIST OF KEY PATENTS, 2024 71
TABLE 12 MFN TARIFF FOR HS CODE 854140-COMPLIANT PRODUCTS EXPORTED BY TAIPEI, CHINA, 2023 73
TABLE 13 MFN TARIFF FOR HS CODE 854140-COMPLIANT PRODUCTS EXPORTED
BY PHILIPPINES, 2023 73
TABLE 14 MFN TARIFF FOR HS CODE 854140-COMPLIANT PRODUCTS EXPORTED
BY KENYA, 2023 74
TABLE 15 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 74
TABLE 16 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
TABLE 17 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
TABLE 18 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 19 LIST OF KEY CONFERENCES AND EVENTS, 2025–2026 78
TABLE 20 PRICING RANGE OF PV MODULES OFFERED BY KEY PLAYERS, BY APPLICATION, 2024 (USD/WATT) 79
TABLE 21 AVERAGE SELLING PRICE TREND OF PHOTOVOLTAIC CELLS, BY REGION,
2021–2024 (USD/KW) 80
TABLE 22 US-ADJUSTED RECIPROCAL TARIFF RATES 82
TABLE 23 DIFFERENT CLASSES OF CPV SYSTEMS AND THEIR REQUIREMENTS 87
TABLE 24 COMPANIES OFFERING PV MODULES OF UP TO 100 WP 88
TABLE 25 COMPANIES OFFERING PV MODULES OF 100.1–300 WP 88
TABLE 26 COMPANIES OFFERING PV MODULES OF ABOVE 300 WP 89
TABLE 27 PHOTOVOLTAICS MARKET, BY COMPONENT, 2021–2024 (USD BILLION) 92
TABLE 28 PHOTOVOLTAICS MARKET, BY COMPONENT, 2025–2030 (USD BILLION) 92
TABLE 29 PHOTOVOLTAICS MARKET, BY VALUE AND VOLUME,
2021–2024 (USD BILLION/GW) 93
TABLE 30 PHOTOVOLTAICS MARKET, BY VALUE AND VOLUME,
2025–2030 (USD BILLION/GW) 93
TABLE 31 COMPANIES OFFERING 60-CELL PV MODULES 95
TABLE 32 COMPANIES OFFERING 72-CELL PV MODULES 96
TABLE 33 COMPANIES OFFERING 96-CELL PV MODULES 97
TABLE 34 MODULES: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 97
TABLE 35 MODULES: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 97
TABLE 36 MODULES: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 98
TABLE 37 MODULES: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 98
TABLE 38 INVERTERS: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 99
TABLE 39 INVERTERS: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 100
TABLE 40 INVERTERS: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 100
TABLE 41 INVERTERS: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 100
TABLE 42 BALANCE OF SYSTEM (BOS): PHOTOVOLTAICS MARKET, BY REGION,
2021–2024 (USD BILLION) 101
TABLE 43 BALANCE OF SYSTEM (BOS): PHOTOVOLTAICS MARKET, BY REGION,
2025–2030 (USD BILLION) 102
TABLE 44 BALANCE OF SYSTEM (BOS): PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 102
TABLE 45 BALANCE OF SYSTEM (BOS): PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 102
TABLE 46 BALANCE OF SYSTEM (BOS): PHOTOVOLTAICS MARKET, BY BOS TYPE,
2021–2024 (USD BILLION) 103
TABLE 47 BALANCE OF SYSTEM (BOS): PHOTOVOLTAICS MARKET, BY BOS TYPE,
2025–2030 (USD BILLION) 103
TABLE 48 PHOTOVOLTAICS MARKET, BY TYPE, 2021–2024 (USD BILLION) 109
TABLE 49 PHOTOVOLTAICS MARKET, BY TYPE, 2025–2030 (USD BILLION) 109
TABLE 50 RIGID: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 110
TABLE 51 RIGID: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 110
TABLE 52 FLEXIBLE: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 111
TABLE 53 FLEXIBLE: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 111
TABLE 54 PHOTOVOLTAICS MARKET, BY MATERIAL TYPE, 2021–2024 (USD BILLION) 114
TABLE 55 PHOTOVOLTAICS MARKET, BY MATERIAL TYPE, 2025–2030 (USD BILLION) 115
TABLE 56 SILICON: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 116
TABLE 57 SILICON: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 116
TABLE 58 SILICON: PHOTOVOLTAIC MARKET, BY SILICON TYPE, 2021–2024 (USD BILLION) 118
TABLE 59 SILICON: PHOTOVOLTAIC MARKET, BY SILICON TYPE, 2025–2030 (USD BILLION) 118
TABLE 60 COPPER INDIUM GALLIUM SELENIDE (CIGS): PHOTOVOLTAICS MARKET,
BY REGION, 2021–2024 (USD BILLION) 119
TABLE 61 COPPER INDIUM GALLIUM SELENIDE (CIGS): PHOTOVOLTAICS MARKET,
BY REGION, 2025–2030 (USD BILLION) 119
TABLE 62 CADMIUM TELLURIDE (CDTE): PHOTOVOLTAICS MARKET, BY REGION,
2021–2024 (USD BILLION) 120
TABLE 63 CADMIUM TELLURIDE (CDTE): PHOTOVOLTAICS MARKET, BY REGION,
2025–2030 (USD BILLION) 120
TABLE 64 PEROVSKITE: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 121
TABLE 65 ORGANIC PHOTOVOLTAIC: PHOTOVOLTAICS MARKET, BY REGION,
2021–2024 (USD BILLION) 122
TABLE 66 ORGANIC PHOTOVOLTAIC: PHOTOVOLTAICS MARKET, BY REGION,
2025–2030 (USD BILLION) 122
TABLE 67 QUANTUM DOT: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 123
TABLE 68 PHOTOVOLTAICS MARKET, BY CELL TYPE, 2021–2024 (USD BILLION) 125
TABLE 69 PHOTOVOLTAICS MARKET, BY CELL TYPE, 2025–2030 (USD BILLION) 126
TABLE 70 PHOTOVOLTAICS MARKET, BY INSTALLATION TYPE, 2021–2024 (USD BILLION) 129
TABLE 71 PHOTOVOLTAICS MARKET, BY INSTALLATION TYPE, 2025–2030 (USD BILLION) 130
TABLE 72 PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 135
TABLE 73 PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 135
TABLE 74 RESIDENTIAL: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 137
TABLE 75 RESIDENTIAL: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 137
TABLE 76 RESIDENTIAL: PHOTOVOLTAICS MARKET, BY COMPONENT,
2021–2024 (USD BILLION) 137
TABLE 77 RESIDENTIAL: PHOTOVOLTAICS MARKET, BY COMPONENT,
2025–2030 (USD BILLION) 137
TABLE 78 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAICS MARKET, BY REGION,
2021–2024 (USD BILLION) 139
TABLE 79 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAICS MARKET, BY REGION,
2025–2030 (USD BILLION) 140
TABLE 80 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAICS MARKET, BY COMPONENT,
2021–2024 (USD BILLION) 140
TABLE 81 COMMERCIAL & INDUSTRIAL: PHOTOVOLTAICS MARKET, BY COMPONENT,
2025–2030 (USD BILLION) 140
TABLE 82 UTILITIES: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 141
TABLE 83 UTILITIES: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 142
TABLE 84 UTILITIES: PHOTOVOLTAICS MARKET, BY COMPONENT, 2021–2024 (USD BILLION) 142
TABLE 85 UTILITIES: PHOTOVOLTAICS MARKET, BY COMPONENT, 2025–2030 (USD BILLION) 142
TABLE 86 PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 144
TABLE 87 PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 145
TABLE 88 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY COUNTRY,
2021–2024 (USD BILLION) 147
TABLE 89 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY COUNTRY,
2025–2030 (USD BILLION) 147
TABLE 90 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY COMPONENT,
2021–2024 (USD BILLION) 147
TABLE 91 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY COMPONENT,
2025–2030 (USD BILLION) 147
TABLE 92 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY MATERIAL TYPE,
2021–2024 (USD BILLION) 148
TABLE 93 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY MATERIAL TYPE,
2025–2030 (USD BILLION) 148
TABLE 94 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 148
TABLE 95 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 149
TABLE 96 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY TYPE, 2021–2024 (USD BILLION) 149
TABLE 97 NORTH AMERICA: PHOTOVOLTAICS MARKET, BY TYPE, 2025–2030 (USD BILLION) 149
TABLE 98 US: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 150
TABLE 99 US: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 151
TABLE 100 CANADA: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 152
TABLE 101 CANADA: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 152
TABLE 102 MEXICO: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 153
TABLE 103 MEXICO: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 153
TABLE 104 EUROPE: PHOTOVOLTAICS MARKET, BY COUNTRY, 2021–2024 (USD BILLION) 156
TABLE 105 EUROPE: PHOTOVOLTAICS MARKET, BY COUNTRY, 2025–2030 (USD BILLION) 156
TABLE 106 EUROPE: PHOTOVOLTAICS MARKET, BY COMPONENT, 2021–2024 (USD BILLION) 156
TABLE 107 EUROPE: PHOTOVOLTAICS MARKET, BY COMPONENT, 2025–2030 (USD BILLION) 157
TABLE 108 EUROPE: PHOTOVOLTAICS MARKET, BY MATERIAL TYPE,
2021–2024 (USD BILLION) 157
TABLE 109 EUROPE: PHOTOVOLTAICS MARKET, BY MATERIAL TYPE,
2025–2030 (USD BILLION) 157
TABLE 110 EUROPE: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 158
TABLE 111 EUROPE: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 158
TABLE 112 EUROPE: PHOTOVOLTAICS MARKET, BY TYPE, 2021–2024 (USD BILLION) 158
TABLE 113 EUROPE: PHOTOVOLTAICS MARKET, BY TYPE, 2025–2030 (USD BILLION) 158
TABLE 114 UK: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 160
TABLE 115 UK: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 160
TABLE 116 GERMANY: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 161
TABLE 117 GERMANY: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 161
TABLE 118 FRANCE: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 162
TABLE 119 FRANCE: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 162
TABLE 120 ITALY: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 163
TABLE 121 ITALY: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 164
TABLE 122 SPAIN: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 164
TABLE 123 SPAIN: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 164
TABLE 124 POLAND: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 165
TABLE 125 POLAND: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 165
TABLE 126 NORDICS: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 166
TABLE 127 NORDICS: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 166
TABLE 128 REST OF EUROPE: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 167
TABLE 129 REST OF EUROPE: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 167
TABLE 130 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY COUNTRY, 2021–2024 (USD BILLION) 170
TABLE 131 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY COUNTRY, 2025–2030 (USD BILLION) 170
TABLE 132 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY COMPONENT,
2021–2024 (USD BILLION) 171
TABLE 133 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY COMPONENT,
2025–2030 (USD BILLION) 171
TABLE 134 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY MATERIAL TYPE,
2021–2024 (USD BILLION) 171
TABLE 135 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY MATERIAL TYPE,
2025–2030 (USD BILLION) 172
TABLE 136 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 172
TABLE 137 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 172
TABLE 138 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY TYPE, 2021–2024 (USD BILLION) 172
TABLE 139 ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY TYPE, 2025–2030 (USD BILLION) 173
TABLE 140 CHINA: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 173
TABLE 141 CHINA: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 174
TABLE 142 JAPAN: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 175
TABLE 143 JAPAN: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 175
TABLE 144 INDIA: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 176
TABLE 145 INDIA: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 177
TABLE 146 SOUTH KOREA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 177
TABLE 147 SOUTH KOREA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 178
TABLE 148 AUSTRALIA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 178
TABLE 149 AUSTRALIA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 179
TABLE 150 INDONESIA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 179
TABLE 151 INDONESIA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 179
TABLE 152 MALAYSIA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 180
TABLE 153 MALAYSIA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 180
TABLE 154 THAILAND: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 181
TABLE 155 THAILAND: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 181
TABLE 156 VIETNAM: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 182
TABLE 157 VIETNAM: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 182
TABLE 158 REST OF ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 183
TABLE 159 REST OF ASIA PACIFIC: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 183
TABLE 160 ROW: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 184
TABLE 161 ROW: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 184
TABLE 162 ROW: PHOTOVOLTAICS MARKET, BY COMPONENT, 2021–2024 (USD BILLION) 184
TABLE 163 ROW: PHOTOVOLTAICS MARKET, BY COMPONENT, 2025–2030 (USD BILLION) 185
TABLE 164 ROW: PHOTOVOLTAICS MARKET, BY MATERIAL TYPE, 2021–2024 (USD BILLION) 185
TABLE 165 ROW: PHOTOVOLTAICS MARKET, BY MATERIAL TYPE, 2025–2030 (USD BILLION) 185
TABLE 166 ROW: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 186
TABLE 167 ROW: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 186
TABLE 168 ROW: PHOTOVOLTAICS MARKET, BY TYPE, 2021–2024 (USD BILLION) 186
TABLE 169 ROW: PHOTOVOLTAICS MARKET, BY TYPE, 2025–2030 (USD BILLION) 186
TABLE 170 MIDDLE EAST: PHOTOVOLTAICS MARKET, BY COUNTRY,
2021–2024 (USD BILLION) 187
TABLE 171 MIDDLE EAST: PHOTOVOLTAICS MARKET, BY COUNTRY,
2025–2030 (USD BILLION) 187
TABLE 172 MIDDLE EAST: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 188
TABLE 173 MIDDLE EAST: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 188
TABLE 174 AFRICA: PHOTOVOLTAICS MARKET, BY REGION, 2021–2024 (USD BILLION) 191
TABLE 175 AFRICA: PHOTOVOLTAICS MARKET, BY REGION, 2025–2030 (USD BILLION) 191
TABLE 176 AFRICA: PHOTOVOLTAICS MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 191
TABLE 177 AFRICA: PHOTOVOLTAICS MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 192
TABLE 178 SOUTH AMERICA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 193
TABLE 179 SOUTH AMERICA: PHOTOVOLTAICS MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 193
TABLE 180 PHOTOVOLTAICS MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, JANUARY 2023–JANUARY 2025 194
TABLE 181 PHOTOVOLTAICS MARKET: DEGREE OF COMPETITION, 2024 197
TABLE 182 PHOTOVOLTAICS MARKET: REGION FOOTPRINT 204
TABLE 183 PHOTOVOLTAICS MARKET: COMPONENT FOOTPRINT 205
TABLE 184 PHOTOVOLTAICS MARKET: MATERIAL TYPE FOOTPRINT 206
TABLE 185 PHOTOVOLTAICS MARKET: TYPE FOOTPRINT 207
TABLE 186 PHOTOVOLTAICS MARKET: APPLICATION FOOTPRINT 209
TABLE 187 PHOTOVOLTAICS MARKET: DETAILED LIST OF KEY STARTUPS/SMES 212
TABLE 188 PHOTOVOLTAICS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 212
TABLE 189 PHOTOVOLTAICS MARKET: PRODUCT LAUNCHES, JANUARY 2023–JANUARY 2025 213
TABLE 190 PHOTOVOLTAICS MARKET: DEALS, JANUARY 2023–JANUARY 2025 214
TABLE 191 PHOTOVOLTAICS MARKET: OTHER DEVELOPMENTS,
JANUARY 2023–JANUARY 2025 215
TABLE 192 JINKO SOLAR: COMPANY OVERVIEW 216
TABLE 193 JINKO SOLAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
TABLE 194 JINKO SOLAR: PRODUCT LAUNCHES 218
TABLE 195 JINKO SOLAR: DEALS 219
TABLE 196 JA SOLAR TECHNOLOGY CO.,LTD.: COMPANY OVERVIEW 221
TABLE 197 JA SOLAR TECHNOLOGY CO.,LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 221
TABLE 198 JA SOLAR TECHNOLOGY CO.,LTD.: DEALS 223
TABLE 199 TRINASOLAR: COMPANY OVERVIEW 225
TABLE 200 TRINASOLAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED 225
TABLE 201 TRINASOLAR: PRODUCT LAUNCHES 226
TABLE 202 TRINASOLAR: DEALS 227
TABLE 203 TRINASOLAR: OTHER DEVELOPMENTS 227
TABLE 204 LONGI: COMPANY OVERVIEW 229
TABLE 205 LONGI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 230
TABLE 206 LONGI: PRODUCT LAUNCHES 232
TABLE 207 LONGI: DEALS 232
TABLE 208 TONGWEI CO., LTD.: COMPANY OVERVIEW 234
TABLE 209 TONGWEI CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 235
TABLE 210 TONGWEI CO., LTD.: DEVELOPMENTS 236
TABLE 211 CANADIAN SOLAR: COMPANY OVERVIEW 237
TABLE 212 CANADIAN SOLAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED 238
TABLE 213 CANADIAN SOLAR: PRODUCT LAUNCHES 239
TABLE 214 CANADIAN SOLAR: DEALS 240
TABLE 215 CANADIAN SOLAR: EXPANSIONS 240
TABLE 216 FIRST SOLAR: COMPANY OVERVIEW 241
TABLE 217 FIRST SOLAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED 242
TABLE 218 FIRST SOLAR: EXPANSIONS 243
TABLE 219 HANWHA QCELLS: COMPANY OVERVIEW 244
TABLE 220 HANWHA QCELLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 244
TABLE 221 HANWHA QCELLS: DEALS 245
TABLE 222 HANWHA QCELLS: OTHER DEVELOPMENTS 246
TABLE 223 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW 247
TABLE 224 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 248
TABLE 225 MITSUBISHI ELECTRIC CORPORATION: DEALS 249
TABLE 226 SHARP CORPORATION: COMPANY OVERVIEW 250
TABLE 227 SHARP CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 251
TABLE 228 WUXI SUNTECH POWER CO., LTD.: COMPANY OVERVIEW 252
TABLE 229 WUXI SUNTECH POWER CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 252
TABLE 230 WUXI SUNTECH POWER CO., LTD.: DEVELOPMENTS 253
TABLE 231 HUAWEI TECHNOLOGIES CO., LTD.: COMPANY OVERVIEW 254
TABLE 232 HUAWEI TECHNOLOGIES CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 255
TABLE 233 HUAWEI TECHNOLOGIES CO., LTD.: PRODUCT LAUNCHES 256
TABLE 234 SUNGROW: COMPANY OVERVIEW 257
TABLE 235 SUNGROW: PRODUCTS/SOLUTIONS/SERVICES OFFERED 258
TABLE 236 SUNGROW: PRODUCT LAUNCHES 258
TABLE 237 SUNGROW: DEALS 259
TABLE 238 SMA SOLAR TECHNOLOGY AG: COMPANY OVERVIEW 260
TABLE 239 SMA SOLAR TECHNOLOGY AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 261
TABLE 240 SOLAREDGE: COMPANY OVERVIEW 263
TABLE 241 SOLAREDGE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 264
TABLE 242 SOLAREDGE: PRODUCT LAUNCHES 265
TABLE 243 SOLAREDGE: DEALS 265
TABLE 244 ABB: COMPANY OVERVIEW 266
TABLE 245 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 267
LIST OF FIGURES
FIGURE 1 PHOTOVOLTAICS MARKET SEGMENTATION AND REGIONAL SCOPE 27
FIGURE 2 PHOTOVOLTAICS MARKET: RESEARCH DESIGN 31
FIGURE 3 KEY DATA FROM SECONDARY SOURCES 33
FIGURE 4 BREAKDOWN OF PRIMARIES 34
FIGURE 5 KEY DATA FROM PRIMARY SOURCES 34
FIGURE 6 KEY INDUSTRY INSIGHTS 35
FIGURE 7 PHOTOVOLTAICS MARKET SIZE ESTIMATION METHODOLOGY 36
FIGURE 8 PHOTOVOLTAICS MARKET: BOTTOM-UP APPROACH 37
FIGURE 9 PHOTOVOLTAICS MARKET: TOP-DOWN APPROACH 39
FIGURE 10 PHOTOVOLTAICS MARKET: DATA TRIANGULATION 39
FIGURE 11 PHOTOVOLTAICS MARKET: RESEARCH ASSUMPTIONS 40
FIGURE 12 PHOTOVOLTAICS MARKET: RESEARCH LIMITATIONS 40
FIGURE 13 BALANCE OF SYSTEM (BOS) SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030 43
FIGURE 14 SILICON SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2030 43
FIGURE 15 UTILITIES SEGMENT TO HOLD LARGEST SHARE OF PHOTOVOLTAICS MARKET
IN 2030 44
FIGURE 16 ASIA PACIFIC TO HOLD LARGEST SHARE OF PHOTOVOLTAICS MARKET IN 2030 45
FIGURE 17 DECREASING COSTS OF PV SYSTEMS TO CONTRIBUTE TO MARKET GROWTH 46
FIGURE 18 HALF-CELL PV MODULES SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 46
FIGURE 19 FLOATING SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 47
FIGURE 20 UTILITIES SEGMENT TO DOMINATE PHOTOVOLTAICS MARKET FROM
2025 TO 2030 47
FIGURE 21 CHINA AND UTILITIES SEGMENT TO CAPTURE LARGEST SHARE OF PHOTOVOLTAICS MARKET IN ASIA PACIFIC IN 2025 48
FIGURE 22 INDIA TO RECORD HIGHEST CAGR IN GLOBAL PHOTOVOLTAIC MARKET DURING FORECAST PERIOD 48
FIGURE 23 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 49
FIGURE 24 IMPACT ANALYSIS: DRIVERS 50
FIGURE 25 IMPACT ANALYSIS: RESTRAINTS 52
FIGURE 26 IMPACT ANALYSIS: OPPORTUNITIES 53
FIGURE 27 IMPACT ANALYSIS: CHALLENGES 54
FIGURE 28 SUPPLY CHAIN ANALYSIS 56
FIGURE 29 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 58
FIGURE 30 ECOSYSTEM ANALYSIS 59
FIGURE 31 PORTER’S FIVE FORCES ANALYSIS 60
FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION 62
FIGURE 33 KEY BUYING CRITERIA, BY APPLICATION 63
FIGURE 34 INVESTMENT AND FUNDING SCENARIO, 2021–2024 66
FIGURE 35 IMPORT DATA FOR HS CODE 854140-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2019–2023 69
FIGURE 36 EXPORT DATA FOR HS CODE 854140-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2019–2023 70
FIGURE 37 PATENTS APPLIED AND GRANTED, 2014–2024 71
FIGURE 38 AVERAGE SELLING PRICE TREND OF PHOTOVOLTAIC CELLS, BY REGION,
2021–2024 80
FIGURE 39 IMPACT OF AI/GEN AI ON PHOTOVOLTAICS MARKET 82
FIGURE 40 INVERTERS SEGMENT TO WITNESS HIGHEST CAGR IN PHOTOVOLTAICS MARKET FROM 2025 TO 2030 92
FIGURE 41 FLEXIBLE SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 109
FIGURE 42 SILICON SEGMENT TO DOMINATE PHOTOVOLTAICS MARKET DURING FORECAST PERIOD 114
FIGURE 43 HALF-CELL PV MODULES SEGMENT TO HOLD LARGER MARKET SHARE IN 2025 125
FIGURE 44 FLOATING SEGMENT TO WITNESS HIGHEST CAGR IN PHOTOVOLTAICS MARKET FROM 2025 TO 2030 129
FIGURE 45 UTILITIES SEGMENT TO DOMINATE PHOTOVOLTAICS MARKET BETWEEN
2025 AND 2030 135
FIGURE 46 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD 144
FIGURE 47 NORTH AMERICA: PHOTOVOLTAICS MARKET SNAPSHOT 146
FIGURE 48 EUROPE: PHOTOVOLTAICS MARKET SNAPSHOT 155
FIGURE 49 ASIA PACIFIC: PHOTOVOLTAICS MARKET SNAPSHOT 169
FIGURE 50 PHOTOVOLTAICS MARKET: REVENUE ANALYSIS OF KEY FIVE PLAYERS,
2022–2024 196
FIGURE 51 MARKET SHARE ANALYSIS OF COMPANIES OFFERING PV MODULES, 2024 197
FIGURE 52 COMPANY VALUATION 199
FIGURE 53 FINANCIAL METRICS (EV/EBITDA) 200
FIGURE 54 BRAND COMPARISON 200
FIGURE 55 PHOTOVOLTAICS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 202
FIGURE 56 PHOTOVOLTAICS MARKET: COMPANY FOOTPRINT 203
FIGURE 57 PHOTOVOLTAICS MARKET: COMPANY EVALUATION MATRIX
(STARTUPS/SMES), 2024 211
FIGURE 58 JINKO SOLAR: COMPANY SNAPSHOT 217
FIGURE 59 LONGI: COMPANY SNAPSHOT 230
FIGURE 60 TONGWEI CO., LTD.: COMPANY SNAPSHOT 235
FIGURE 61 CANADIAN SOLAR: COMPANY SNAPSHOT 238
FIGURE 62 FIRST SOLAR: COMPANY SNAPSHOT 242
FIGURE 63 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT 248
FIGURE 64 SHARP CORPORATION: COMPANY SNAPSHOT 251
FIGURE 65 HUAWEI TECHNOLOGIES CO., LTD.: COMPANY SNAPSHOT 255
FIGURE 66 SUNGROW: COMPANY SNAPSHOT 257
FIGURE 67 SMA SOLAR TECHNOLOGY AG: COMPANY SNAPSHOT 261
FIGURE 68 SOLAREDGE: COMPANY SNAPSHOT 264
FIGURE 69 ABB: COMPANY SNAPSHOT 267
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