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Solar Photovoltaic (PV) Still Going Strong, Bolstered by Declining Technology Prices and Supported by an Evolving Regulatory Environment
22-Aug-2019
Global
Market Research
K3BC-01-00-00-00
EG02011-GL-MR_23525
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.
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)
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| 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 |
Global Solar PV Power Market, Forecast to 2025
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