20 Nov 2018 – The global Solar PV Market size is expected to reach 489.79 gigawatts (GW) by 2020. The market is subject to witness a substantial growth due to the growing demand for sustainable energy resources, coupled with numerous local government initiatives and schemes to fulfill growing demand of electricity. Numerous benefits are obtained with the use of solar PV that include sustainability, reduction in greenhouse gas emission, and low operational cost, are further spurring the growth of the market over the forecast period. Globally, the solar PV market is predicted to grow at CAGR of 20.9% in forecast period, providing numerous opportunity for market players to invest for research and development in the solar PV industry.
As per the findings of a study conducted by Hexa Research, the total worldwide Solar PV (photovoltaic) installed capacity for 2020 will be more than 480GW. Key factors contributing to growth are higher global emphasis on clean energy production coupled with governmental support in the form of beneficial policies for development of Solar PV Market. Sunbelt countries will particularly gain from regulations like Feed in Tariff which is a preferential rate program.
Hexa Research foresees falling prices of energy generated using Solar PV in future, chiefly due to huge increase in capacity, especially in China. The global Solar PV market demands that companies employ innovation and differentiation strategies as a way to grow. Alliances and partnerships are crucial for gaining competitive edge.
In this report, the global Solar PV market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue million USD, market share and growth rate of Solar PV in these regions, from 2013 to 2025 forecast, covering
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