Energy & Green Renewable Technology Market News

Photovoltaic market to perceive substantial growth during 2018 - 2023 detailed in new research report

Energy Market Research

Photovoltaic Market By Component (Cells - Thin Films PV Cells Crystalline Silicon PV Cells) By Type (Organic PV, Inorganic PV), By End User (Utility, Military & Space Power Plants, Residential, Non-Residential).

Global Photovoltaic Market Make an Inquiry about this news was valued at USD 144.34 Billion in the year 2017. The global Photovoltaic market is further estimated to grow at a CAGR of 19.92% from 2018 to 2023 to reach USD 429.36 Billion. Asia Pacific region holds the highest market share in 2017 and North America market is considered as the fastest growing market in the forecasted period.

At a country level China, Japan, and Germany hold the highest market share in 2017 and it is projected to grow at a strongly in the coming years.

Robert Bosch GmbH (Germany), Sharp Corporation (Japan), Panasonic Corporation. (Japan), Mitsubishi Electric Corporation (Japan), China Sunergy (China), Canadian Solar Inc. (Canada), Morgan Solar Inc. (Canada), JA SOLAR Co, Ltd. (China), are some of the key players in the Global Photovoltaic market with Robert Bosch GmbH holding the substantial market share.

Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

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Low Operation and maintenance cost

Availability of government incentives and loans for growth and expansion


Dependency on climate


The Belt and Road Forum


The availability of solar radiation can differ depending on location

The major shares of the market comes from Utility sector in Global Photovoltaic Market. As Utility sector contains military, space and power plants which can invest more for the utilization of energy.

On the other hand, Organic PV type for this market is expected to grow at the CAGR of XXX during the year 2017-2022. Whereas Inorganic PV holds the notable market share because of its large availability across regions.

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Key Benefits for Stakeholders

Photovoltaic Manufacturers, Distributors and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors and consumers.

By Component




By Type

Organic PV

Inorganic PV

By End User




By Region

North America




Key Market Players

Robert Bosch GmbH (Germany)

Panasonic Corporation (Japan)

Sharp Corporation (Japan)

Mitsubishi Electric Corporation (Japan),

Morgan Solar Inc. (Canada)

JA SOLAR Co, Ltd. (China)

Canadian Solar Inc. (Canada)

China Sunergy (China)

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News From

Genesis Market InsightsGenesis Market Insights
Category: Market Research Publishers and RetailersCompany about: Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across the globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in-house data validation tools, ...
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