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Global Solar Photovoltaic Installation Market: Snapshot

The solar photovoltaic (PV) installation market has been expanding speedily as a consequence of rising awareness about sustainable and renewable energy resources. According to the findings of Transparency Market Research (TMR), the market for solar photovoltaic installation will reach 60.05 gigawatts in 2018, earning more than US$145.9bn. Solar energy has grown popular as it is a source of clean energy and it is easy to integrate it into homes. Solar power ranks alongside hydropower and wind power in terms of future energy alternatives for a healthier, cleaner planet.

The major drivers of the global solar photovoltaic installation market are the ample availability of solar energy, along with the towering demand for electricity. The government has been encouraging this eco-friendly mode of power generation and has launched several conducive policies in this regard.

Increasing Installations at Homes Position Residential Sector at Top

An upsurge in the demand for solar energy has been noted chiefly from residential, utility-scale, and commercial sectors. It is projected to be the fastest expanding segment, with 33.36% of the demand by the end of 2018. Affordability of these installations has been increasing owing to high levels of competition in the market. Increase in the property value, durability, and decrease in utility bills are some other factors fuelling the growth of the solar PV installation market in residential areas.

On the basis of technology, solar photovoltaic systems are categorized into three groups, namely, crystalline silicone PV, thin film PV, and others. Of these, the thin film PV segment is believed to emerge as the most popular one. It held the dominant share in the market on account of its high efficiency, satisfactory output, and low cost.

Dependence on Solar Power to Urge Asia Pacific to Emerge as Foremost Region

Because of the ample sunlight it receives, the rising demand for electricity, and more importantly, an urgent need to find alternatives to the rapidly depleting fossil fuels in the region, the Middle East will become a hub of solar photovoltaic installation. Experts suggest, solar energy has been attracting large amounts of investments across EMEA (Europe Middle East, and Africa).

India houses the world’s largest solar photovoltaic power plant, situated in Tamil Nadu, with a capacity of 648-megawatt. In 2015, the previously leading states of Rajasthan and Gujarat were displaced by southern states such as Telangana, Tamil Nadu, and Andhra Pradesh. However, the Indian market appears to face hurdles such as project delays, inadequate financing, and inefficient grid and transmission infrastructure. China will lead the Asia Pacific segment, experts suggest. China appears to be inclined to raise its 100GW target to 150GW, to be achieved by 2020. Concern about pollution and efforts to tap cleaner energy have been influencing China to opt for investments in the solar PV installation market. This eco-friendly initiative of switching from non-renewable to renewable energy resources, lowering of installation costs, encouragement from government, and rising popularity will together propel the demand for solar PV installations in Asia Pacific.

Several companies that satisfy varied consumer demands have emerged in the global solar photovoltaic installation market. Some of the major ones are Trina Solar Ltd., Sun Power Corporation, First Solar Inc., Yingli Green Energy Holding Co. Ltd., Schott Solar Ag., and Sharp Corporation.

The solar photovoltaic installation market has received a significant boost owing to growing global awareness regarding renewable and sustainable energy resources and the popularity of solar energy in recent times. The research report identifies many such factors that drive the solar photovoltaic installation market across the globe. It also determines factors that inhibit the growth of the industry and those that are expected to fuel the solar photovoltaic installation market in future. 
The report studies the overall solar photovoltaic installation market and analyses its nuances with in-depth focus and accuracy. Breaking the solar photovoltaic installation market down into smaller sub-segments, the report evaluates individual areas of operation and determines their contribution to the solar photovoltaic installation market.
With the help of tools such as value chain analysis, Porter’s five forces analysis and SWOT analysis, the report offers key insights on the various stakeholders of the solar photovoltaic installation market, the impact of competitors, substitutes, and new entrants, product portfolio and analysis, and the power of buyers and suppliers in the solar photovoltaic installation market. 
Overview of the solar photovoltaic installation market
Based on figures provided by the report, the global solar photovoltaic installation market was 29.6 gigawatts in the year 2011, and growing at a 10.7% CAGR, is expected to be 60.05 gigawatts by 2018. In terms of revenue, the solar photovoltaic installation market is expected to be worth US$145.9 billion by 2018.
The global solar photovoltaic installation market is primarily driven by the mounting worldwide demand for electricity coupled with abundant supply of solar energy. Favorable government regulations and schemes, concerns regarding sustainability and environment conservation, lower prices, and adequate output efficiency have also fueled the growth of the solar photovoltaic installation market.
Accounting for more than 75.7% of the global solar photovoltaic installation, the Europe, Middle East and Africa (EMEA) region dominated the market in 2011. This was followed by Asia-Pacific in terms of solar photovoltaic installation capacity. This is mainly due to increasing popularity and dependence on solar power in emerging countries such as China and India. Most of the demand for solar photovoltaic installation systems comes from commercial, utility-scale, and residential sectors. This paradigm shift from nonrenewable to renewable energy sources, support from the government, and reduced prices are projected to propel the Asia-Pacific market for solar photovoltaic installation in the forecast period. Among the major end uses, the residential sector accounted for 30.22% of the total demand for solar photovoltaic installation and is expected to be the fastest-growing segment, accounting for 33.36% of the demand by 2018. In terms of technology, crystalline silicon solar photovoltaic installation held the largest market share with 80.81% in 2011, while in terms of grid type, grid-connected solar photovoltaic installation was the largest segment in 2011 with 98.03% of the total installed capacity.
Companies mentioned in the research report
There are numerous players in the global solar photovoltaic installation market that cater to the wide-range of requirements of the customers. Some of the companies mentioned in the solar photovoltaic installation market report are First Solar Inc., Sharp Corporation, Trina Solar Ltd., Schott Solar Ag., Sun Power Corporation, and Yingli Green Energy Holding Co. Ltd.
Major geographies analyzed under this research report are: 
  • EMEA
  • North America 
  • Asia-Pacific 
  • Rest of the World 
This report gives you access to decisive data such as:
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 
Key highlights of this report
  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements in the micro servers industry
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments

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Solar Photovoltaic Market

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