Market Highlights

The global market for grid connected photovoltaic systems market is expected to grow at a ~15% CAGR during the forecast period, 2020–2026. Grid connected PV systems are used to generate electricity by utilizing the solar energy and feeds the electricity back into the main electricity grid network.

In 2019, Asia-Pacific dominated the global grid connected PV systems market in terms of share: MRFR

The global grid connected PV systems market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. Asia-Pacific is expected to hold the largest share of the market during the forecast period. The growing demand for on-grid solar energy sources and the government policies and schemes drive the growth of the grid connected PV systems market in the region.  Solar energy is identified as the best replacement to the conventional energy sources so as to decrease carbon footprint by meeting the electricity needs in the region. As the authorities in the region are focusing on the developments of on-grid solar energy, the demand for grid connected PV systems is expected to grow significantly during the forecast period. In japan, in September 2020, First Solar Japan, a subsidiary of First Solar (US) and Toshiba Energy Systems & Solutions Corporation signed a contract to construct two mega solar projects, namely, Yatsubo Solar Power Plant and Ikeda Solar Power Plant to supply electricity to the country’s electricity grid in Tochigi Prefecture, Japan. In India, the Government of India has set up a target ha having 100 GW of grid connected solar power installation capacity by 2022. Such factors are expected to drive the growth of the grid connected PV systems market in the Asia-Pacific region during the forecast period.

The global grid connected PV systems market has been segmented based on components, technology, grid type, and application. Based on components, the global market is divided into solar panels, power conditioning unit, grid connection equipment, inverters, and others. The solar panels segment is expected to hold the larger share of the market and grow at the fastest rate during the forecast period. Based on technology, the global market is divided into thin film, crystalline silicon, and others. The crystalline silicon m segment is expected to grow at the fastest rate during the forecast period. Based on grid type, the market is segmented into grid connected, centralized, and decentralized. The grid connected segment is expected to lead the market during the forecast period. Based on application, the market is segmented into residential, commercial, utility, and industrial. The utility segment is expected to hold the largest share of the market and it is anticipated to grow at a faster rate during the forecast period. 

The global grid connected PV systems market is expected to grow at ~ 15% CAGR during the forecast period.

Key Players 

The players operating in the global grid connected PV systems market are Sunpower Corporation (US), Canadian Solar Inc (Canada), Suntech Power Holding Co. Ltd. (China), First Solar Inc. (US), KYOCERA Corporation (Japan), Trina Solar (China), ReneSola Power Holdings, LLC (US), Panasonic Corporation (Japan), Sharp Corporation (Japan), JinkoSolar Holding Co., Ltd (China), Kaneka Corporation (Japan), Huawei Technologies (China), Ravano Green Powers (Italy), TRIENERGY Schweiz AG (Switzerland), and Zytech Solar (Spain).

Scope of the Report

This report provides an in-depth analysis of the global grid connected PV systems market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and grid connected PV systems market share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global grid connected PV systems market by components, technology, grid type, application, and region.

By Components

  • Solar Panels

  • Power Conditioning Unit

  • Grid Connection Equipment

  • Inverters

  • Others

By Technology

  • Thin Film

  • Crystalline Silicon

  • Others

By Grid Type

  • Grid Connected

  • Centralized

  • Decentralized

By Application

  • Residential

  • Commercial

  • Utility

  • Industrial

By Region

  • North America 

  • Asia-Pacific 

  • Europe

  • Middle East & Africa

  • South America

 

Table Of Contents

 

List Of Tables

Table 1 Global Grid Connected PV Systems Market, By Region, 2020–2027 (USD Million)

Table 2 North America Grid Connected PV Systems Market, By Country, 2020–2027 (USD Million)

Table 3 Europe Grid Connected PV Systems Market, By Country, 2020–2027 (USD Million)

Table 4 Asia-Pacific Grid Connected PV Systems Market, By Country, 2020–2027 (USD Million)

Table 5 Middle East & Africa Grid Connected PV Systems Market, By Country, 2020–2027 (USD Million)

Continued..

Access Report Details @ https://www.marketresearchfuture.com/reports/grid-connected-pv-systems-market-10457

List Of Figures

Figure 1 Research Process Of MRFR

Figure 2 Top-Down And Bottom-Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

continued...

About Market Research Future:

Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.

MRFR’s goal in providing a comprehensive coverage of the market replete with latest trends, niches, developments, and insights can be lucrative for business needs. We aim to push our clients to the forefront by guiding them with astute information for making informed decisions. Our market intelligence can track down key issues in industries and be modified as per the fluctuations in economic scenarios. The reports are customized and offered as per a specific region or country and adhere to latest policies.

Contact Us:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com