Solar Photovoltaic Pv Market
Solar Photovoltaic (PV) Market Forecasts to 2028 - Global Analysis By Type (Mono-Si, Multi-Si), Installation (Rooftop, Ground Mounted), Grid Type (On Grid, Off Grid), Technology(Thin Film, Monocrystalline Silicon, Polycrystalline Silicon), Application (Utilities, Residential, Non Residential, Industrial), and Geography
Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $160 BN |
Projected Year Value (2028) |
US $240 BN |
CAGR (2022 - 2028) |
7% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Solar Photovoltaic (PV) Market is accounted for $160 billion in 2022 and is expected to reach $240 billion by 2028 growing at a CAGR of 7% during the forecast period. The solar photovoltaic (PV) method is a simple, non-moving-parts way to generate electricity from sunshine. In order to generate an electric current, electrons from silicon host atoms are taken out by solar light. Electrons are propelled out of their high atomic orbit by absorbing photons, or packets of light energy.
According to IEA, the annual PV grid capacity in 2021 in China doubled as compared to the same in 2021. The region in 2021 had a PV grid operational capacity of 34.5 GW.
Market Dynamics:
Driver:
Growing Investments in Solar Power Resources
Power-generating firms are under pressure to transition to greener and more ecologically friendly energy sources as a result of numerous environmental regulations across the globe. Major nations throughout the world are making great efforts to increase the production of electricity from renewable sources in order to reduce their reliance on fossil energy power generation. One of the main renewable energy sources that can help with many global concerns is solar energy. Therefore, increasing solar energy resource investments are creating appealing opportunities to grow the worldwide solar photovoltaic (PV) market even during course of the forecast period.
Restraint:
Low conversion efficiencies
When when compared to traditional energy sources like biomass and oil, the technique delivers low conversion efficiencies. Additionally, a number of variables, including as the kind of raw materials used to make solar cells, the amount of sunshine available, and solar PV design, have an impact on how well solar PV systems work, which is projected to restrain growth throughout the forecast period.
Opportunity:
Favorable Government Policies and Upcoming Projects
In reaction to the rising carbon emissions, governments all over the world have implemented a variety of policies for the development of renewable energy. The laws have considerably sped up the global expansion of the solar energy industry. China's solar PV industry makes a major contribution to the global market. The global market for solar PV is significantly impacted by changes to its rules. Due to its murky FiT policy and reduced subsidies for solar projects, China suffered a large fall in investment. With the implementation of the modified FiT regulation, the market is likely to pick up speed for the development of solar projects over the projected period. Similar to any other large solar energy industry, India benefits from many government programmes that support the country's utility- and domestic solar PV installations.
Threat:
Large land based power source
Utility-scale solar projects demand a substantial land-based power source. Numerous environmental or technical factors may have an impact on the choice of such land. The biodiversity and natural regions may be impacted by the usage of such land for the installation of solar systems. Large-scale solar-powered power plants must take into account a number of variables, including land, transportation networks, the effects on nearby residential areas, and distance from the electrical grid. The aforementioned constraints limit the expansion of the worldwide solar photovoltaic (PV) industry.
Covid-19 Impact
The COVID-19 epidemic significantly impacted the supply chain and had a very small influence on market growth. The lowering cost of solar PV and related technologies is the main force propelling the global solar PV market. Economies of scale, increased material efficiency, and manufacturing optimization can all be credited with the drop. However, throughout the anticipated period, issues including the development of other green technologies like wind and bio energy are anticipated to restrain market expansion.
The Ground-mounted segment is expected to be the largest during the forecast period
The Ground-mounted segment is estimated to have a lucrative growth, due to increase in utility-scale projects, solar energy targets, and falling solar PV installation costs. Large-scale solar PV projects are being planned by nations all over the world in an effort to diversify their energy sources and lessen their dependency on fossil fuel-based power generation. The increasing installation of large-scale utility solar PV projects is therefore anticipated to make ground-mounted solar PV a dominant segment over the projection period as a result of the considerations mentioned above.
The residential segment is expected to have the highest CAGR during the forecast period
The residential segment is anticipated to witness the fastest CAGR growth during the forecast period, due to lower initial investment costs and increased solar PV module efficiency, the residential sector is anticipated to experience significant development. However, a decline in installations, notably from the residential segment, is anticipated after the expiration of federal incentives. Over the course of the forecast period, the market's expansion is anticipated to be anticipated by the rising popularity of photovoltaic systems due to their use in power generation and low-cost residential building heating.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period. The major markets in the sector with the greatest installed capacities are developing countries. Over the past few years, the solar photovoltaic industry has exploded more quickly than that of any other nation in the region. By establishing the political circumstances for its widespread deployment, JNNSM aims to position India as a global lead in solar energy. During the forecast period, factors including planned solar PV projects, favourable governmental policies, and falling prices for solar PV modules and related systems are anticipated to propel the solar PV market in the area.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. The government of North America has set up numerous solar, photovoltaic, as well as CSP projects all around the nation. One of these is a 46.8 MW-capacity photovoltaic facility at Puerto Libertad, Sonora. As a result, during the course of the projection period, the requirement for photovoltaic systems in the nation is anticipated to rise. In addition, the utility sector is anticipated to add significant capacity as a result of mounting pressure to achieve renewable energy requirements. On the basis of the present rate of installations, this is probably going to happen. Residential installations are also expected to increase over the projection period as a result of regulations and incentives tailored specifically to solar rooftop PV.
Key players in the market
Some of the key players profiled in the Solar Photovoltaic Market include Tata Power Solar Systems Ltd., Nextera Energy Sources LLC, Risen Energy, Sembcorp Energy India Ltd, Jinko Solar, BrightSource Energy Inc., Royal Dutch Shell PLC, Wuxi Suntech Power Co. Ltd, SunPower Corporation, Hanwha Q-CELLS, JA Solar and Canadian Solar Inc.
Key Developments:
In January 2021, Royal Dutch Shell PLC launched its 25 MW Qabas solar plant. The plant is located on a 50-hectare site within the Sohar Free zone in northern Oman, and consists of over 88,000 solar modules. It helps in avoiding more than 25,000 tons of CO2 emissions annually.
In January 2021, Sembcorp Energy India Ltd announced that it had won a new 400 MW solar power project in the Indian state of Rajasthan. Similarly, in February 2021, construction began on the Samson Solar Energy Center, the largest planned solar energy farm in the United States. The solar farm is expected to have 1,013 MW of generating capacity and is expected to be completed by 2023.
Types Covered:
• Mono-Si
• Multi-Si
Installations Covered:
• Rooftop
• Ground Mounted
• Other Installations
Grid Types Covered:
• On Grid
• Off Grid
Technologies Covered:
• Thin Film
• Monocrystalline Silicon
• Polycrystalline Silicon
Applications Covered:
• Utilities
• Residential
• Non Residential
• Industrial
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Solar Photovoltaic (PV) Market, By Type
5.1 Introduction
5.2 Mono-Si
5.3 Multi-Si
6 Global Solar Photovoltaic (PV) Market, By Installation
6.1 Introduction
6.2 Rooftop
6.3 Ground Mounted
6.4 Other Installations
7 Global Solar Photovoltaic (PV) Market, By Grid Type
7.1 Introduction
7.2 On Grid
7.3 Off Grid
8 Global Solar Photovoltaic (PV) Market, By Technology
8.1 Introduction
8.2 Thin Film
8.3 Monocrystalline Silicon
8.4 Polycrystalline Silicon
9 Global Solar Photovoltaic (PV) Market, By Application
9.1 Introduction
9.2 Utilities
9.3 Residential
9.4 Non Residential
9.5 Industrial
10 Global Solar Photovoltaic (PV) Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Tata Power Solar Systems Ltd.
12.2 Nextera Energy Sources LLC
12.3 Risen Energy
12.4 Sembcorp Energy India Ltd
12.5 Jinko Solar
12.6 BrightSource Energy Inc.
12.7 Royal Dutch Shell PLC
12.8 Wuxi Suntech Power Co. Ltd
12.9 SunPower Corporation
12.10 Hanwha Q-CELLS
12.11 JA Solar
12.12 Canadian Solar Inc.
List of Tables
1 Global Solar Photovoltaic (PV) Market Outlook, By Region (2020-2028) ($MN)
2 Global Solar Photovoltaic (PV) Market Outlook, By Type (2020-2028) ($MN)
3 Global Solar Photovoltaic (PV) Market Outlook, By Mono-Si (2020-2028) ($MN)
4 Global Solar Photovoltaic (PV) Market Outlook, By Multi-Si (2020-2028) ($MN)
5 Global Solar Photovoltaic (PV) Market Outlook, By Installation (2020-2028) ($MN)
6 Global Solar Photovoltaic (PV) Market Outlook, By Rooftop (2020-2028) ($MN)
7 Global Solar Photovoltaic (PV) Market Outlook, By Ground Mounted (2020-2028) ($MN)
8 Global Solar Photovoltaic (PV) Market Outlook, By Other Installations (2020-2028) ($MN)
9 Global Solar Photovoltaic (PV) Market Outlook, By Grid Type (2020-2028) ($MN)
10 Global Solar Photovoltaic (PV) Market Outlook, By On Grid (2020-2028) ($MN)
11 Global Solar Photovoltaic (PV) Market Outlook, By Off Grid (2020-2028) ($MN)
12 Global Solar Photovoltaic (PV) Market Outlook, By Technology (2020-2028) ($MN)
13 Global Solar Photovoltaic (PV) Market Outlook, By Thin Film (2020-2028) ($MN)
14 Global Solar Photovoltaic (PV) Market Outlook, By Monocrystalline Silicon (2020-2028) ($MN)
15 Global Solar Photovoltaic (PV) Market Outlook, By Polycrystalline Silicon (2020-2028) ($MN)
16 Global Solar Photovoltaic (PV) Market Outlook, By Application (2020-2028) ($MN)
17 Global Solar Photovoltaic (PV) Market Outlook, By Utilities (2020-2028) ($MN)
18 Global Solar Photovoltaic (PV) Market Outlook, By Residential (2020-2028) ($MN)
19 Global Solar Photovoltaic (PV) Market Outlook, By Non Residential (2020-2028) ($MN)
20 Global Solar Photovoltaic (PV) Market Outlook, By Industrial (2020-2028) ($MN)
21 North America Solar Photovoltaic (PV) Market Outlook, By Country (2020-2028) ($MN)
22 North America Solar Photovoltaic (PV) Market Outlook, By Type (2020-2028) ($MN)
23 North America Solar Photovoltaic (PV) Market Outlook, By Mono-Si (2020-2028) ($MN)
24 North America Solar Photovoltaic (PV) Market Outlook, By Multi-Si (2020-2028) ($MN)
25 North America Solar Photovoltaic (PV) Market Outlook, By Installation (2020-2028) ($MN)
26 North America Solar Photovoltaic (PV) Market Outlook, By Rooftop (2020-2028) ($MN)
27 North America Solar Photovoltaic (PV) Market Outlook, By Ground Mounted (2020-2028) ($MN)
28 North America Solar Photovoltaic (PV) Market Outlook, By Other Installations (2020-2028) ($MN)
29 North America Solar Photovoltaic (PV) Market Outlook, By Grid Type (2020-2028) ($MN)
30 North America Solar Photovoltaic (PV) Market Outlook, By On Grid (2020-2028) ($MN)
31 North America Solar Photovoltaic (PV) Market Outlook, By Off Grid (2020-2028) ($MN)
32 North America Solar Photovoltaic (PV) Market Outlook, By Technology (2020-2028) ($MN)
33 North America Solar Photovoltaic (PV) Market Outlook, By Thin Film (2020-2028) ($MN)
34 North America Solar Photovoltaic (PV) Market Outlook, By Monocrystalline Silicon (2020-2028) ($MN)
35 North America Solar Photovoltaic (PV) Market Outlook, By Polycrystalline Silicon (2020-2028) ($MN)
36 North America Solar Photovoltaic (PV) Market Outlook, By Application (2020-2028) ($MN)
37 North America Solar Photovoltaic (PV) Market Outlook, By Utilities (2020-2028) ($MN)
38 North America Solar Photovoltaic (PV) Market Outlook, By Residential (2020-2028) ($MN)
39 North America Solar Photovoltaic (PV) Market Outlook, By Non Residential (2020-2028) ($MN)
40 North America Solar Photovoltaic (PV) Market Outlook, By Industrial (2020-2028) ($MN)
41 Europe Solar Photovoltaic (PV) Market Outlook, By Country (2020-2028) ($MN)
42 Europe Solar Photovoltaic (PV) Market Outlook, By Type (2020-2028) ($MN)
43 Europe Solar Photovoltaic (PV) Market Outlook, By Mono-Si (2020-2028) ($MN)
44 Europe Solar Photovoltaic (PV) Market Outlook, By Multi-Si (2020-2028) ($MN)
45 Europe Solar Photovoltaic (PV) Market Outlook, By Installation (2020-2028) ($MN)
46 Europe Solar Photovoltaic (PV) Market Outlook, By Rooftop (2020-2028) ($MN)
47 Europe Solar Photovoltaic (PV) Market Outlook, By Ground Mounted (2020-2028) ($MN)
48 Europe Solar Photovoltaic (PV) Market Outlook, By Other Installations (2020-2028) ($MN)
49 Europe Solar Photovoltaic (PV) Market Outlook, By Grid Type (2020-2028) ($MN)
50 Europe Solar Photovoltaic (PV) Market Outlook, By On Grid (2020-2028) ($MN)
51 Europe Solar Photovoltaic (PV) Market Outlook, By Off Grid (2020-2028) ($MN)
52 Europe Solar Photovoltaic (PV) Market Outlook, By Technology (2020-2028) ($MN)
53 Europe Solar Photovoltaic (PV) Market Outlook, By Thin Film (2020-2028) ($MN)
54 Europe Solar Photovoltaic (PV) Market Outlook, By Monocrystalline Silicon (2020-2028) ($MN)
55 Europe Solar Photovoltaic (PV) Market Outlook, By Polycrystalline Silicon (2020-2028) ($MN)
56 Europe Solar Photovoltaic (PV) Market Outlook, By Application (2020-2028) ($MN)
57 Europe Solar Photovoltaic (PV) Market Outlook, By Utilities (2020-2028) ($MN)
58 Europe Solar Photovoltaic (PV) Market Outlook, By Residential (2020-2028) ($MN)
59 Europe Solar Photovoltaic (PV) Market Outlook, By Non Residential (2020-2028) ($MN)
60 Europe Solar Photovoltaic (PV) Market Outlook, By Industrial (2020-2028) ($MN)
61 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Type (2020-2028) ($MN)
63 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Mono-Si (2020-2028) ($MN)
64 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Multi-Si (2020-2028) ($MN)
65 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Installation (2020-2028) ($MN)
66 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Rooftop (2020-2028) ($MN)
67 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Ground Mounted (2020-2028) ($MN)
68 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Other Installations (2020-2028) ($MN)
69 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Grid Type (2020-2028) ($MN)
70 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By On Grid (2020-2028) ($MN)
71 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Off Grid (2020-2028) ($MN)
72 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Technology (2020-2028) ($MN)
73 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Thin Film (2020-2028) ($MN)
74 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Monocrystalline Silicon (2020-2028) ($MN)
75 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Polycrystalline Silicon (2020-2028) ($MN)
76 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Application (2020-2028) ($MN)
77 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Utilities (2020-2028) ($MN)
78 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Residential (2020-2028) ($MN)
79 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Non Residential (2020-2028) ($MN)
80 Asia Pacific Solar Photovoltaic (PV) Market Outlook, By Industrial (2020-2028) ($MN)
81 South America Solar Photovoltaic (PV) Market Outlook, By Country (2020-2028) ($MN)
82 South America Solar Photovoltaic (PV) Market Outlook, By Type (2020-2028) ($MN)
83 South America Solar Photovoltaic (PV) Market Outlook, By Mono-Si (2020-2028) ($MN)
84 South America Solar Photovoltaic (PV) Market Outlook, By Multi-Si (2020-2028) ($MN)
85 South America Solar Photovoltaic (PV) Market Outlook, By Installation (2020-2028) ($MN)
86 South America Solar Photovoltaic (PV) Market Outlook, By Rooftop (2020-2028) ($MN)
87 South America Solar Photovoltaic (PV) Market Outlook, By Ground Mounted (2020-2028) ($MN)
88 South America Solar Photovoltaic (PV) Market Outlook, By Other Installations (2020-2028) ($MN)
89 South America Solar Photovoltaic (PV) Market Outlook, By Grid Type (2020-2028) ($MN)
90 South America Solar Photovoltaic (PV) Market Outlook, By On Grid (2020-2028) ($MN)
91 South America Solar Photovoltaic (PV) Market Outlook, By Off Grid (2020-2028) ($MN)
92 South America Solar Photovoltaic (PV) Market Outlook, By Technology (2020-2028) ($MN)
93 South America Solar Photovoltaic (PV) Market Outlook, By Thin Film (2020-2028) ($MN)
94 South America Solar Photovoltaic (PV) Market Outlook, By Monocrystalline Silicon (2020-2028) ($MN)
95 South America Solar Photovoltaic (PV) Market Outlook, By Polycrystalline Silicon (2020-2028) ($MN)
96 South America Solar Photovoltaic (PV) Market Outlook, By Application (2020-2028) ($MN)
97 South America Solar Photovoltaic (PV) Market Outlook, By Utilities (2020-2028) ($MN)
98 South America Solar Photovoltaic (PV) Market Outlook, By Residential (2020-2028) ($MN)
99 South America Solar Photovoltaic (PV) Market Outlook, By Non Residential (2020-2028) ($MN)
100 South America Solar Photovoltaic (PV) Market Outlook, By Industrial (2020-2028) ($MN)
101 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Type (2020-2028) ($MN)
103 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Mono-Si (2020-2028) ($MN)
104 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Multi-Si (2020-2028) ($MN)
105 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Installation (2020-2028) ($MN)
106 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Rooftop (2020-2028) ($MN)
107 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Ground Mounted (2020-2028) ($MN)
108 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Other Installations (2020-2028) ($MN)
109 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Grid Type (2020-2028) ($MN)
110 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By On Grid (2020-2028) ($MN)
111 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Off Grid (2020-2028) ($MN)
112 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Technology (2020-2028) ($MN)
113 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Thin Film (2020-2028) ($MN)
114 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Monocrystalline Silicon (2020-2028) ($MN)
115 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Polycrystalline Silicon (2020-2028) ($MN)
116 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Application (2020-2028) ($MN)
117 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Utilities (2020-2028) ($MN)
118 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Residential (2020-2028) ($MN)
119 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Non Residential (2020-2028) ($MN)
120 Middle East & Africa Solar Photovoltaic (PV) Market Outlook, By Industrial (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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