Challenges and Opportunities in the Solar PV Systems Industry: 2023-2030
Author : scott Bang | Published On : 03 Jan 2024
Solar PV Systems Industry | Forecast 2030
Solar PV Systems Industry Data Book - Solar PV Modules, PV Inverter and Solar Charge Controller Market
The economic value generated by the solar PV systems industry was estimated at approximately USD 170.80 billion in 2022. This economic output is an amalgamation of businesses that are involved in the raw material suppliers, manufacturers of solar power products, distribution & supply, and application of solar PV systems.
Access the Global Solar PV Systems Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Solar PV Modules Market Insights
The global solar PV modules market is expected to witness growth on account of rising environmental concerns regarding the increase in carbon emissions owing to the usage of conventional fuels for transportation and power generation purposes have prompted countries around the world to opt for cleaner and more efficient sources of power. Furthermore, under the Paris Climate Agreement, countries such as the U.S., Germany, India, Japan, and the UK have pledged to reduce their carbon footprints.
Key players in the global solar PV modules Market include Canadian Solar, SunPower Corporation, First Solar, Talesun, Hanwha Group, RISEN ENERGY Co. LTD., and Yingli Solar.
Order your copy of the Free Sample of “Solar PV Systems Industry Data Book - Solar PV Modules, PV Inverter and Solar Charge Controller Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030, published by Grand View Research
PV Inverter Market Insights
The global PV inverter market size was estimated at USD 13.09 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 18.3% from 2024 to 2030. The growing awareness regarding environmental issues and need to reduce carbon emissions is driving demand for clean energy solutions, which in turn is expected to drive demand for various energy equipment including PV inverters. According to the International Energy Agency (IEA), power generation from solar photovoltaic (PV) increased by 270 TWh in 2022, up by 26% in 2021. Solar PV accounted for approximately 4.5% of total global electricity generation in 2022.
Solar PV inverters are an integral part of larger solar systems. These inverters convert direct current (DC) electricity to alternate current (AC) and hence determine efficiency of whole solar system. Solar PV inverters are available with distinct characteristics and features and consider different factors affecting solar system production. Some critical factors include shading, roof orientation, roof inclination, summer vs winter production, tilting panels, and many other factors that result in required output.
Solar Charge Controller Market Insights
The global solar charge controller market size was valued at USD 1.35 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 15.1% from 2020 to 2027. Favorable government policies regarding the clean fuel agenda, along with the growing deployment of off-grid solar energy systems across several end-use industries, are expected to boost the market growth in the coming years.
The solar charge controller regulates the flow of current and voltage from the solar panels to the connected battery in order to prevent excessive charging and discharging of the battery. Rising demand for continuous energy supply in urban, mobile or harsh climatic conditions with sufficient sun hours is expected to boost the charge controller demand in order to regulate power flow in off-grid applications.
Go through the table of content of Solar PV Systems Industry Data Book to get a better understanding of the Coverage & Scope of the study
Table of Contents - Sectoral Outlook Report
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Industry Snapshot
2.2. Key Trends - Highlights
Chapter 3. Industry Trend Analysis
3.1. Regulatory Framework & Benchmark
3.2. Value Chain Analysis
3.2.1. Supply - Demand Gap Analysis
3.2.2. Technological Outlook
3.2.3. Value Addition & Profit Margin Analysis
3.3. Competitive Benchmarking
3.3.1. Manufacturing Ranking & Heat-map Analysis
3.3.2. Distribution Channel Analysis
3.4. Macro Environmental Trend Analysis
3.4.1. Industry Driving Forces & Impact Analysis
3.4.2. Opportunities & Challenges
3.4.3. Key Plastic Solar Energy Trends
Company Profiles
- JinkoSolar
- JA Solar
- Trina Solar
- LONGi Solar
- Canadian Solar
- SunPower Corporation
- First Solar
- Hanwha Group
- RISEN ENERGY Co. LTD.
- Yingli Solar
- GCL-SI
- HIANS Energy Solutions Ltd.
- Sunrun
- Trinity Solar, Inc
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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