Global Photovoltaics Market to Reach $716.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Photovoltaics estimated at US$235.9 Billion in the year 2020, is projected to reach a revised size of US$716.9 Billion by 2027, growing at a CAGR of 17.2% over the period 2020-2027. Organic PV, one of the segments analyzed in the report, is projected to record 21.7% CAGR and reach US$48.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Inorganic PV segment is readjusted to a revised 16.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $63.5 Billion, While China is Forecast to Grow at 22.1% CAGR
The Photovoltaics market in the U.S. is estimated at US$63.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$168 Billion by the year 2027 trailing a CAGR of 22.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.5% and 15.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.6% CAGR.
Select Competitors (Total 43 Featured):
Amid the COVID-19 crisis, the global market for Photovoltaics estimated at US$235.9 Billion in the year 2020, is projected to reach a revised size of US$716.9 Billion by 2027, growing at a CAGR of 17.2% over the period 2020-2027. Organic PV, one of the segments analyzed in the report, is projected to record 21.7% CAGR and reach US$48.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Inorganic PV segment is readjusted to a revised 16.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $63.5 Billion, While China is Forecast to Grow at 22.1% CAGR
The Photovoltaics market in the U.S. is estimated at US$63.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$168 Billion by the year 2027 trailing a CAGR of 22.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.5% and 15.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.6% CAGR.
Select Competitors (Total 43 Featured):
- Canadian Solar, Inc.
- Ja Solar Co. Ltd.
- JinkoSolar Holding Co., Ltd.
- Kaneka Corporation
- Kyocera Corporation
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Renesola Co. Ltd.
- Sharp Corporation
- Trina Solar Ltd.
- Wuxi Suntech Power Co., Ltd.
- Yingli Green Energy Holding Co., Ltd.
Frequently Asked Questions about the Global Market for Photovoltaics
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I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS4. GLOBAL MARKET PERSPECTIVE
1. MARKET OVERVIEW
III. MARKET ANALYSIS
IV. COMPETITION
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