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Market Overview of Global Solar Photovoltaic Equipment market:
According to our latest research, the global Solar Photovoltaic Equipment market looks promising in the next 5 years. As of 2022, the global Solar Photovoltaic Equipment market was estimated at USD 40428.34 million, and it's anticipated to reach USD 51633.95 million in 2028, with a CAGR of 4.16% during the forecast years.
Solar panel is a device that directly or indirectly converts solar radiation energy into electrical energy through photoelectric effect or photochemical effect by absorbing sunlight.
Drivers
As the global energy crisis worsens, the demand for renewable energy is gradually increasing. As a kind of renewable energy, solar energy is generally used as an energy source for power generation or as a water heater. Global population growth, rapid economic progress, and global fossil fuel consumption intensified. With the current decline in fossil fuels, solar energy has become an important part of human energy use and continues to develop. As the practicability of solar energy technology becomes more and more extensive, new energy companies are constantly looking for new and innovative ways to apply solar energy to more scenarios, and the demand for solar energy equipment is increasing.
Solar panel is a device that directly or indirectly converts solar radiation energy into electrical energy through photoelectric effect or photochemical effect by absorbing sunlight. Compared with ordinary batteries and rechargeable batteries, solar batteries are more energy-saving and environmentally friendly green products.
Restraints
The main material of most solar panels is silicon, but due to the high production cost, it has certain limitations in its widespread use. At the same time, market price fluctuations of silicon materials have also affected the development of the industry. The first half of 2020 is the low period of silicon material prices. Affected by the coronavirus epidemic, the global photovoltaic industry has suffered setbacks, and the downstream demand for silicon materials has shrunk. In addition, in the second quarter, the production capacity of silicon wafer companies continued to release, resulting in oversupply of silicon wafer production and falling prices. The price of polysilicon has continued to fall since the beginning of 2020. At this time, the price and profitability of polysilicon materials have reached the historical bottom, which also shows that the price of its price rebounds upward. The sudden supply shortage of silicon materials has pushed the price of silicon materials to rebound rapidly beyond market expectations.
Opportunities
Technological progress will remain the theme of the development of the solar photovoltaic industry. Single crystal continuous feeding production technology and large-volume ingot casting technology continue to advance. The application range of polycrystalline silicon wafer diamond wire cutting will be further expanded, and monocrystalline silicon wafers will complete the replacement of diamond wire cutting. With the continuous development of the photovoltaic market, high-efficiency batteries will gradually dominate the market. The market share of monocrystalline silicon cells will gradually increase in the next few years.
Region Overview:
From 2022-2027, China is estimated to witness robust growth prospects.
Company Overview:
The top three companies are Jinko Solar, JA Solar, Trina Solar with the revenue market share of 11.52%, 7.98%, 7.69% in 2019.
Jinko Solar is a very innovative photovoltaic company in the world. The company provides solar products, solutions and services to ground power stations, commercial and civilian customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the UAE, Italy, Spain, France, Belgium and other regions.
JA Solar was founded in 2005. The company's business ranges from silicon wafers, cells and modules to complete photovoltaic power systems, and its products are sold to 135 countries and regions. On the strength of its continuous technological innovation, sound financial condition, well-established global sales and customer service network, JA Solar has been highly recognized by authoritative associations in the industry as a leading global manufacturer of high-performance PV products.
Segmentation Overview:
Among different product types, Single Crystal Silicon segment is anticipated to contribute the largest market share in 2027.
Application Overview:
By application, the Commercial segment occupied the biggest share from 2017 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Solar Photovoltaic Equipment market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Solar Photovoltaic Equipment Market Report:
Market Size Estimates: Solar Photovoltaic Equipment market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Solar Photovoltaic Equipment market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Solar Photovoltaic Equipment market
Segment Market Analysis: Solar Photovoltaic Equipment market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Solar Photovoltaic Equipment market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Solar Photovoltaic Equipment Market: Revenue and sales volume of major countries in each region
Solar Photovoltaic Equipment Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Solar Photovoltaic Equipment market in major regions.
Solar Photovoltaic Equipment Industry Value Chain: Solar Photovoltaic Equipment market raw materials & suppliers, manufacturing process, distributors, downstream customers
Solar Photovoltaic Equipment Industry News, Policies & Regulations
Key players in the global Solar Photovoltaic Equipment market are covered in Chapter 12:
Hanwha
Canadian Solar
Risen
Chint Group
LONGi Solar
Shunfeng
JA Solar
GCL System Integration
Jinko Solar
First Solar
Trina Solar
In Chapter 2 and Chapter 15.1, based on types, the Solar Photovoltaic Equipment market from 2018 to 2028 is primarily split into:
Single Crystal Silicon
Polycrystalline Silicon
Other
In Chapter 3 and Chapter 15.2, based on applications, the Solar Photovoltaic Equipment market from 2018 to 2028 covers:
Residential
Commercial
Ground Station
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Solar Photovoltaic Equipment market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028