Global Solar PV Power Market, Forecast to 2025

Global Solar PV Power Market, Forecast to 2025

Solar Photovoltaic (PV) Still Going Strong, Bolstered by Declining Technology Prices and Supported by an Evolving Regulatory Environment

RELEASE DATE
22-Aug-2019
REGION
Global
Deliverable Type
Market Research
Research Code: K3BC-01-00-00-00
SKU: EG02011-GL-MR_23525
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Description

Solar Photovoltaic (PV) power is gradually establishing itself as a mainstream energy source following a decade of exponential growth. Continually declining prices of solar PV power, coupled with country-specific clean energy targets and strong regulatory support, are driving the growth of the global solar PV power market. The growing interest of the corporate sector in procuring solar PV power to meet their renewable energy targets as well as the increasing prevalence of solar PV in distributed generation (DG) boost the demand for solar power globally.

China continues to hold the largest share of the global solar PV power market despite restructuring financial incentive schemes, which have restricted support to utility-scale and DG projects. India is another strong market driven by ambitious solar energy targets and supportive government policies. The North American market, despite the slowdown in the short term caused by the imposition of import tariffs, is expected to register positive growth in the long term as a result of an overall favorable environment for solar PV power in the region. The mature European market, after a period of slow growth, is recovering on account of revised renewable energy targets and increasing uptake of solar power with storage solutions. The utility-scale sector holds the majority share of the global solar PV power market, while the commercial & industrial and residential markets register the highest growth rates. Residential and small-scale commercial sector will see growth owing to the demand in solar-mature markets with a well-established solar infrastructure.

In a market where steadily declining costs have led to the commoditization of solar PV modules, manufacturers can secure a competitive advantage by focusing on adding value to their current service offerings, including developing smart solutions with storage capabilities. Vertical integration by market participants to ensure incorporation of all upstream and downstream capabilities will help augment market growth.

The imposition of tariffs on solar PV modules imported from China in countries such as the United States and India has created opportunities for domestic manufacturers to occupy a larger share of the local solar PV market by investing in increasing their manufacturing footprint. Strong, global players who do not have a manufacturing presence in these domestic markets may try to circumnavigate import tariffs by exporting from exempt geographies by strengthening manufacturing activities in these regions. Players entering new and emerging markets will also benefit from investing in strong local sales teams familiar with the local solar PV power market dynamics.

The solar industry is intensely competitive and evolving continuously. Consolidation within the market is likely to continue as companies seek to enhance their service offerings and expand their global market presence. Mature markets such as Europe continue to favor established players with demonstrated expertise and trusted brand names while emerging markets such as Latin America remain open to the entry of new players.

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Key Findings (continued)

Executive Summary—Transformational Trends in the Solar PV Industry

Executive Summary—Transformational Trends in the Solar PV Industry (continued)

Executive Summary—Transformational Trends in the Solar PV Industry (continued)

Executive Summary—Snapshot of Investments in the Global Solar PV Power Industry

Executive Summary—Snapshot of Investments in the Global Solar PV Power Industry (continued)

Executive Summary—Snapshot of Investments in the Global Solar PV Power Industry (continued)

Executive Summary—Snapshot of Investments in the Global Solar PV Power Industry (continued)

Market Engineering Measurements

CEO’s Perspective

Associated Multimedia

Market Scope

Regional Scope

Technology Definitions

Key Questions this Study will Answer

Market Structure

Market Segmentation by Region

Market Distribution Channels

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Market Engineering Measurements

Forecast Assumptions

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Regulatory Snapshot

Pricing Trends and Forecast

Pricing Trends and Forecast Discussion

Pricing Analysis

Financial Trends and Incentives

Financial Trends and Incentives (continued)

Technology Analysis

Technology Analysis (continued)

Annual Installed Capacity Forecast by Region

Annual Installed Capacity Forecast by Region Discussion

Revenue Forecast by Region

Revenue Forecast by Region Discussion

Change in Solar Incentive Structure

Change in Solar Incentive Structure (continued)

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Analysis—Market Share

Competitive Analysis

Competitive Analysis (continued)

Competitive Environment

Strategic Analysis—Five Forces Model

Growth Opportunity 1—Expansion into Emerging Markets

Growth Opportunity 2—Expansion of Offerings

Growth Opportunity 3—Mergers & Acquisitions

Strategic Imperatives for Success and Growth

North America—Strategic Insights

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Annual Installed Capacity Forecast by Country

Annual Installed Capacity Forecast by Country Discussion

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

Europe—Strategic Insights

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Annual Installed Capacity Forecast by Country

Annual Installed Capacity Forecast by Country Discussion

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

Asia-Pacific—Strategic Insights

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Annual Installed Capacity Forecast by Country

Annual Installed Capacity Forecast by Country Discussion

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

China—Strategic Insights

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

India—Strategic Insights

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

Latin America—Strategic Insights

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Annual Installed Capacity Forecast by Country

Annual Installed Capacity Forecast by Country Discussion

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

Africa—Strategic Insights

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

Middle East—Strategic Insights

Revenue Forecast

Revenue Forecast Discussion

Annual Installed Capacity Forecast

Annual Installed Capacity Forecast Discussion

Annual Installed Capacity Forecast by Project Type

Annual Installed Capacity Forecast by Project Type Discussion

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

List of Companies in “Others”

List of Companies in “Others” (continued)

Partial List of Companies Interviewed

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Solar Photovoltaic (PV) power is gradually establishing itself as a mainstream energy source following a decade of exponential growth. Continually declining prices of solar PV power, coupled with country-specific clean energy targets and strong regulatory support, are driving the growth of the global solar PV power market. The growing interest of the corporate sector in procuring solar PV power to meet their renewable energy targets as well as the increasing prevalence of solar PV in distributed generation (DG) boost the demand for solar power globally. China continues to hold the largest share of the global solar PV power market despite restructuring financial incentive schemes, which have restricted support to utility-scale and DG projects. India is another strong market driven by ambitious solar energy targets and supportive government policies. The North American market, despite the slowdown in the short term caused by the imposition of import tariffs, is expected to register positive growth in the long term as a result of an overall favorable environment for solar PV power in the region. The mature European market, after a period of slow growth, is recovering on account of revised renewable energy targets and increasing uptake of solar power with storage solutions. The utility-scale sector holds the majority share of the global solar PV power market, while the commercial & industrial and residential markets register the highest growth rates. Residential and small-scale commercial sector will see growth owing to the demand in solar-mature markets with a well-established solar infrastructure. In a market where steadily declining costs have led to the commoditization of solar PV modules, manufacturers can secure a competitive advantage by focusing on adding value to their current service offerings, including developing smart solutions with storage capabilities. Vertical integration by market participants to ensure incorporation of all upstream and downstream capabilities will help augment market growth. The imposition of tariffs on solar PV modules imported from China in countries such as the United States and India has created opportunities for domestic manufacturers to occupy a larger share of the local solar PV market by investing in increasing their manufacturing footprint. Strong, global players who do not have a manufacturing presence in these domestic markets may try to circumnavigate import tariffs by exporting from exempt geographies by strengthening manufacturing activities in these regions. Players entering new and emerging markets will also benefit from investing in strong local sales teams familiar with the local solar PV power market dynamics. The solar industry is intensely competitive and evolving continuously. Consolidation within the market is likely to continue as companies seek to enhance their service offerings and expand their global market presence. Mature markets such as Europe continue to favor established players with demonstrated expertise and trusted brand names while emerging markets such as Latin America remain open to the entry of new players.
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Sama Suwal
Industries Energy
WIP Number K3BC-01-00-00-00
Is Prebook No
GPS Codes 9AFE-A4,9AFF-A4,9B00-A4,9851,GETE