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Global Photovoltaic Market Insights, Trends, Analysis, and Forecast
2021
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Description :
Photovoltaic (PV) cells are used to collect and convert solar energy into direct current (DC) or
electricity. PV systems use semiconducting materials that exhibit the photovoltaic effect.
The market is primarily driven by rising awareness and environmental concerns pertaining to
use of non-renewable or fossil-based fuels such as petroleum and diesel. Moreover,
photovoltaic systems do not require much maintenance. In addition, photovoltaic cells and
systems merely require sunlight to function and can be used anywhere across the globe.
Another factor driving market growth are smart energy networks, wherein solar energy is most
appropriate and is considered to be the next generation of power network structure.
However, restraints for the market include intermittency issues. Also, solar radiation is only
available during the daytime hence PV systems cannot function during the night time.
Moreover, another issue includes cloud covering during the rainy seasons.
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However, growing environmental concerns and the need to create smart energy networks is
expected to drive market growth for photovoltaic systems. Moreover, rising prices of fossilbased fuels are acting as an opportunity for the photovoltaic market as solar energy can be
expected to replace the other forms of fuels.
The PV market is segmented in four parts on the basis of types, components, application, and
region. The various types of photovoltaic include organic and inorganic. The various
components of photovoltaic systems include cells, optics, and trackers. The photovoltaic
systems find their application in areas such as residential, non-residential and utility
applications.
On the basis of region, the market is segmented in North America, Europe, Asia Pacific, and
Rest of the World. In addition, China is the largest producer of photovoltaic cells. The Chinese
government has implemented a series of policies and measures that support the growth of the
photovoltaic market. These factors are expected to significantly propel China to become the
largest producer of photovoltaic cells globally. Furthermore, the markets in North America and
Europe are expected to grow significantly due to rising environmental awareness. The PV
market in Asia Pacific is also expected grow due to the presence of developing nations like India
in the region.
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Key players in the Photovoltaic market include Kaneka Corporation, Mitsubishi Electric
Corporation, Sharp Corporation, Panasonic Corporation, Jinko Solar, Suntech Power Holdings
Co. Ltd., Trina Solar, Kyocera Corporations, and Canadian Solar among others.
Table of Content:
1. Preface
2. Executive Summary
3. Global Photovoltaics Market Analysis
4. Global Photovoltaic Market Analysis by Product Types, USD million 2014 – 20221
5. Global Photovoltaic Market Analysis by Components, USD million 2014 – 2021
6. Global Photovoltaic Market Analysis by Applications, USD million 2014 – 2021
7.Global Photovoltaic Market Regional Analysis, 2014 – 2021
8. Company Profiles
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