Global Solar Photovoltaic Growth Opportunities

Global Solar Photovoltaic Growth Opportunities

Decarbonization Efforts and Continual Decline in Project Costs Drive Transformational Growth

RELEASE DATE
23-Feb-2022
REGION
Global
Research Code: MG6D-01-00-00-00
SKU: EG02218-GL-MT_26304
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Description

Global concerns about climate change have spurred a flurry of investments in renewable energy sources and other decarbonization initiatives. The efforts to focus on renewables were initiated at the 2016 COP21 in Paris, which led to countries setting renewable energy targets to achieve by 2030 in attempt to mitigate global warming. More recently, at COP26, more than 100 countries pledged to cut methane emissions by 30.0% from 2020 levels, which would directly impact the energy sector, considering oil and gas is the main source of methane emissions, further spurring the transition to other renewable sources like solar photovoltaic (PV).

Solar PV is an advantageous option when comparing the various renewable sources available, being a low-investment, low-maintenance option characterized by the year-round abundance of the energy source and ease of accessibility as compared to wind, which needs sizeable resources including land and investment. Advancements in storage technologies have strengthened the case for PV, with variability in production having been a major source of concern in the past.

This study assesses growth opportunities for the global solar PV market and uses proprietary modeling to estimate its revenue potential. The model uses estimated annual capacity additions based on countries’ individual and regional targets for 2030 and other secondary resources. The study also presents PV market trends that will define the industry’s growth, major players across the value chain (PV cells, modules, inverters, and O&M), and the competitive environment. Where applicable, market potential refers to the estimated revenue opportunity size between 2022 and 2030 that is available for interested stakeholders to capitalize on. Key countries in each region are profiled, detailing their market potential.

Key Issues Addressed

  • What is the current status of the global solar PV market?
  • What are the key drivers and restraints affecting the market? What are the competitive factors?
  • Is the market growing? How long will it continue to grow, and at what rate?
  • How are key regulations affecting the market?
  • Which are the key growth regions for solar PV that market players can consider for expansion? Which countries are suitable for investments in these regions?
  • Who are the key market players, what is the state of the competitive environment, and what are their innovative business models or solutions?
  • How are revenues expected to change over the course of the next few years?
  • What avenues are available for strategic investment in the global solar PV market, and how can key stakeholders benefit from them?

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Global Solar Photovoltaic (PV) Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Findings

Scope of Analysis

Global Solar PV Market Segmentation

Global Solar PV Market Segmentation (continued)

Global Solar PV Market Hotspots

Key Competitors in the Value Chain

Top Solar PV IPPs and EPC Companies

Key Growth Metrics

Market Distribution Channels

Solar PV Value Chain

Growth Drivers

Growth Restraints

Forecast Assumptions, Global Solar PV Market

Solar PV Annual Capacity Addition Forecast by Region

Solar PV Cumulative Installed Capacity Forecast by Region

Solar PV Revenue Forecast by Region

Solar PV Revenue Forecast by End-user Type

Revenue Forecast Analysis by Region

Revenue Forecast Analysis by Region (continued)

Revenue Forecast Analysis by Region (continued)

Competitive Environment—Solar PV Cells

Market Share, Solar PV Cells

Competitive Environment—Solar PV Modules

Market Share, Solar PV Modules

Competitive Environment—Solar PV Inverters

Revenue Share, Solar Inverters

Competitive Environment—O&M Service Providers

Revenue Share, O&M Service Producers

Global Solar PV Industry, Key Market Trends

Inverter Technology Evolution Drives Cost Performance Improvements

Solar Trackers to Play a Crucial Role Ensuring Overall Plant Efficiency

Bifacial Solar Panels Boost Operational Efficiency

Perovskite and Silicon May Create a Paradigm Shift in Plant Efficiency

BIPV Deployment Continues to Increase

Asia as Hotspot for Floating Solar

Advancements in Servicing Propositions Deliver Cost Savings and Efficiency

Agri PV and Agrophotovoltaics to Optimize Land Usage

Key Growth Metrics—Europe

Solar PV Cumulative Installed Capacity Forecast by Country—Europe

Revenue Forecast by Country—Europe

Revenue Forecast by End-user Segment—Europe

Country Profile—Germany

Country Profile—Germany (continued)

Revenue Forecast by End-user Segment—Germany

Country Profile—France

Country Profile—France (continued)

Revenue Forecast by End-user Segment—France

Country Profile—Italy

Country Profile—Italy (continued)

Revenue Forecast by End-user Segment—Italy

Country Profile—Spain

Country Profile—Spain (continued)

Revenue Forecast by End-user Segment—Spain

Country Profile—UK

Country Profile—UK (continued)

Revenue Forecast by End-user Segment—UK

Key Growth Metrics—North America

Solar PV Cumulative Installed Capacity Forecast by Country—North America

Revenue Forecast by Country—North America

Revenue Forecast by End-user Segment—North America

Country Profile—US

Country Profile—US (continued)

Revenue Forecast by End-user Segment—US

Key Growth Metrics—Latin America

Solar PV Cumulative Installed Capacity Forecast by Country—Latin America

Revenue Forecast by Country—Latin America

Revenue Forecast by End-user Segment—Latin America

Country Profile—Brazil

Country Profile—Brazil (continued)

Revenue Forecast by End-user Segment—Brazil

Country Profile—Chile

Country Profile—Chile (continued)

Revenue Forecast by End-user Segment—Chile

Key Growth Metrics—APAC

Solar PV Cumulative Installed Capacity Forecast by Country—APAC

Revenue Forecast by Country—APAC

Revenue Forecast by End-user Segment—APAC

Country Profile—Australia

Country Profile—Australia (continued)

Revenue Forecast by End-user Segment—Australia

Country Profile—China

Country Profile—China (continued)

Revenue Forecast by End-user Segment—China

Country Profile—India

Country Profile—India (continued)

Revenue Forecast by End-user Segment—India

Country Profile—Japan

Country Profile—Japan (continued)

Revenue Forecast by End-user Segment—Japan

Country Profile—South Korea

Country Profile—South Korea (continued)

Revenue Forecast by End-user Segment—South Korea

Key Growth Metrics—Middle East

Solar PV Cumulative Installed Capacity Forecast by Country—Middle East

Revenue Forecast by Country—Middle East

Revenue Forecast by End-user Segment—Middle East

Country Profile—KSA

Country Profile—KSA (continued)

Revenue Forecast by End-user Segment—KSA

Country Profile—UAE

Country Profile—UAE (continued)

Revenue Forecast by End-user Segment—UAE

Country Profile—Israel

Country Profile—Israel (continued)

Revenue Forecast by End-user Segment—Israel

Key Growth Metrics—Africa

Solar PV Cumulative Installed Capacity Forecast by Country—Africa

Revenue Forecast by Country—Africa

Revenue Forecast by End-user Segment—Africa

Country Profile—South Africa

Country Profile—South Africa (continued)

Revenue Forecast by End-user Segment—South Africa

Country Profile—Egypt

Country Profile—Egypt (continued)

Revenue Forecast by End-user Segment—Egypt

Growth Opportunity 1—Solar PV Plants for Green Hydrogen Production

Growth Opportunity 1—Solar PV Plants for Green Hydrogen Production (continued)

Growth Opportunity 2—Energy-as-a-Service

Growth Opportunity 2—EaaS (continued)

Growth Opportunity 3—Advanced Inverters

Growth Opportunity 3—Advanced Inverters (continued)

Growth Opportunity 4—Strategic Partnerships

Growth Opportunity 4—Strategic Partnerships (continued)

Growth Opportunity 5—Specialist O&M Service Offerings

Growth Opportunity 5—Specialist O&M Service Offerings (continued)

Global Solar PV Market—Top Solar PV Companies Based on Installed Capacity

List of Other O&M Service Providers

Sources

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

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List of Exhibits (continued)

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Related Research
Global concerns about climate change have spurred a flurry of investments in renewable energy sources and other decarbonization initiatives. The efforts to focus on renewables were initiated at the 2016 COP21 in Paris, which led to countries setting renewable energy targets to achieve by 2030 in attempt to mitigate global warming. More recently, at COP26, more than 100 countries pledged to cut methane emissions by 30.0% from 2020 levels, which would directly impact the energy sector, considering oil and gas is the main source of methane emissions, further spurring the transition to other renewable sources like solar photovoltaic (PV). Solar PV is an advantageous option when comparing the various renewable sources available, being a low-investment, low-maintenance option characterized by the year-round abundance of the energy source and ease of accessibility as compared to wind, which needs sizeable resources including land and investment. Advancements in storage technologies have strengthened the case for PV, with variability in production having been a major source of concern in the past. This study assesses growth opportunities for the global solar PV market and uses proprietary modeling to estimate its revenue potential. The model uses estimated annual capacity additions based on countries’ individual and regional targets for 2030 and other secondary resources. The study also presents PV market trends that will define the industry’s growth, major players across the value chain (PV cells, modules, inverters, and O&M), and the competitive environment. Where applicable, market potential refers to the estimated revenue opportunity size between 2022 and 2030 that is available for interested stakeholders to capitalize on. Key countries in each region are profiled, detailing their market potential.--BEGIN PROMO--

Key Issues Addressed

  • What is the current status of the global solar PV market
  • What are the key drivers and restraints affecting the market What are the competitive factors
  • Is the market growing How long will it continue to grow, and at what rate
  • How are key regulations affecting the market
  • Which are the key growth regions for solar PV that market players can consider for expansion Which countries are suitable for investments in these regions
  • Who are the key market players, what is the state of the competitive environment, and what are their innovative business models or solutions
  • How are revenues expected to change over the course of the next few years
  • What avenues are available for strategic investment in the global solar PV market, and how can key stakeholders benefit from them
More Information
Author Saraswathi Venkatesan
GPS Codes 9AFE-A4,9B00-A4,9851,GETE
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number MG6D-01-00-00-00