Market Snapshot
CAGR:7.64
Study Period |
2019-2032 |
Base Year |
2023 |
Forcast Year |
2023-2032 |
CAGR |
7.64 |
Report Overview
"Report Scope:
The report is a compilation of the existing BCC Research's reports in Solar energy market. The topics analyzed within the report include a detailed breakdown and analysis of the global markets for solar technologies by geography, technology and application. Additionally, included are a review of the different technologies from second generation and third generation solar technologies such as Organic Photovoltaics (OPVs)/Plastic Solar Cells and Multi-junction Photovoltaics (MJPVs) and Concentrating Photovoltaics (CPVs) which are currently in commercial use; a review of early-stage technologies that are beginning to see transfer from research to commercialization and major factors impelling and impeding the global growth. The scope of this report extends to sizing of the solar energy market and an analysis of global market trends with market data for solar installations at global level in 2017, which is being considered as the base year, 2018 as the estimate year and forecast for 2023 with projection of CAGR from 2018 to 2023. Market data provided in volume is cumulative installed capacity. The report also provides the value in $ millions corresponds to the volume presented in this report.
The report focuses on assessment of solar energy technologies and an analysis of companies/manufacturers and the related system providers. Market dynamics such as drivers, restraints, and opportunities are also discussed in the report. The study forecasts the market value of the solar energy market for key technologies like PV and CSP.
Report Includes:
- 39 data tables and 38 additional tables
- Industry analysis of the solar energy technologies
- Analyses of global market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Detailed study of market driving forces, opportunities, restraints and other critical technological and regulatory updates that influence the current and future market dynamics
- Regional dynamics of the solar energy market covering North America, Europe, APAC and other emerging economies from the rest of the world
- Brief outlining of alternative solar photovoltaic technologies industry and its structure, and companies associated with providing these technologies
- Examination of the competitive landscape and market share analysis of the key global players
- Comprehensive profiles of market leading companies within the energy sector, including General Electric Company, Kyocera Corp., Mitsubishi Electric Corp., Schneider Electric, St. Gobain and Parker Hannifin Inc."
"Summary
The solar technologies comprise a broad industry that is characterized by a high level of diversity, creativity and flexibility. The industry operates with a fairly high level of tolerance for experimentation and risk-taking which has, in the long term, resulted in overall growth and wider acceptance of the legitimacy of the industry. It includes technological solutions ranging from commercially viable and mass-produced thin-film products (second-generation) to experimental technologies (third-generation) that are in the early stages of being transferred from academic and private research institutions and consortiums to viable profit-seeking enterprises.
At their core, solar technologies are renewable energy technologies that in some way harness the power of the sun to create energy, mostly in the form of electric power, while leveraging new research and manufacturing techniques to produce cells and modules of materials other than crystalline silicon. In the context of this report, this energy generation has been limited to electric energy generation using solar PV and Thermal products.
Solar PV electric generation is typically thought of in the context of generating electricity for use in residential, commercial or industrial grid-tied or off-grid applications, and this will continue to remain a major application for alternative solar technologies into the foreseeable future. However, solar PV technologies are also employed for novel applications such as integration with portable products to extend battery life through charging with solar cells (electronics integrated photovoltaics, or EIPV), automotive applications, remote sensing and power, unmanned systems, and integration with buildings (building- integrated photovoltaics, or BIPV) through production of windows or roofing structures with built-in PV modules.
On the other hand, the Solar thermal (ST) technologies are products and power installations that capture, concentrate and/or absorb sunlight to provide thermal energy to a process or system. Solar thermal technologies are segmented into two major categories, solar heat (SH) and concentrated solar power (CSP).
The first category, SH, includes all technologies used for residential, commercial and industrial ST installations that do not concentrate sunlight and provide low-grade heat to various heating systems. The following solar thermal technologies are included in the scope of this report under the SH category: unglazed solar collectors, flat-plate solar collectors, evacuated-tube solar collectors, integral collector storage, glazed solar air collectors and transpired solar air collectors. Because all SH installations must include a component that collects solar radiation, solar thermal collectors and absorbers provide excellent indicators of the market performance and penetration of SH systems.
Able to provide thermal energy for steam generation and other high-temperature concentrating solar power processes, CSP technologies have benefitted from a substantial increase in public and private sector interest for renewable energy technologies. CSP technologies considered in this report include parabolic trough solar collectors, power tower solar collectors, parabolic dish solar collectors and Fresnel reflector solar collectors. These four ST technologies utilize specific designs to concentrate sunlight onto a receiver to raise heat transfer fluids (HTFs) or working fluids to temperatures well more than 212
Table of Contents
Chapter 1 Introduction
Study Background
Study Goals and Objectives
Reasons for Doing the Study
Scope of Report
Intended Audience
Methodology and Information Sources
Geographic Breakdown
Analyst's Credentials
BCC Custom Research
Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Introduction
Solar Irradiance
Levelized Cost of Electricity (LCOE)
Market Dynamics
Key Market Growth Drivers
Rising Energy Demand
Rising Thrust to Reduce Dependence on Fossil Fuels for Power Generation
Tax Incentives and Regulatory Assistance for the Growth of Solar PV Technologies
Building-integrated Photovoltaic Applications (BIPVs)
Key Market Growth Restraints
Higher Module Cost and Limited Efficiency of Alternative PV Modules
Dominance of c-Si Modules Across All Applications
Key Market Growth Opportunities
Application in Niche Areas
Upcoming Technologies
Third-generation Photovoltaics
Perovskites Overview
Key Mergers and Acquisitions in the Solar Electric Power Generation Market
Chapter 4 Global Market for Solar PV Technologies
Overview
First-generation Photovoltaics
Second-generation Photovoltaics
Third-generation Photovoltaics
History of PV Technologies
First-generation PV Technologies
Overview of Alternative Solar PV Technologies
Second-generation Photovoltaics
Third-generation Photovoltaics
Applications of Solar PV Technologies
Building-integrated Photovoltaics (BIPV)
Advancements in Alternative PV Technology
Silicon Nanowires
All-Carbon Solar Cells
Graphene in Solar Cells
Plasmonic Nanostructures
Market Size and Forecast
North American Solar PV Market
European Solar PV Market
Asia-Pacific Solar PV Market
RoW Solar PV Market
Chapter 5 Global Market for Solar Thermal Technologies
Overview
Solar Heating Technologies
History of Solar Heat Technologies
Solar Heating Technologies
Solar Air Heating systems
Solar Heat Technologies
Benefits of Solar Heat Technologies
Current Interest in Solar Energy and Solar Heat Technologies
Concentrated Solar Power Technologies
History of Concentrated Solar Power Technology
Market Size and Forecast
North American CSP Market
European CSP Market
Asia-Pacific CSP Market
RoW CSP Market
Chapter 6 Company Profiles
Solar PV Companies
3S Photovoltaics
AMONIX COMPANY
ASCENT SOLAR
CANADIAN SOLAR INC.
COGENTRIX ENERGY LLC
CONERGY AG
COOPER B-LINE
DAQO NEW ENERGY
DOW CHEMICAL COMPANY
DYESOL
EMCORE
ENPHASE
FIRST SOLAR INC.
GCL-POLY
GENERAL ELECTRIC COMPANY
GUASCOR FOTON
HANWHA SOLARONE
HEMLOCK SEMICONDUCTOR CORP.
HILTI CORP.
INDOSOLAR LTD.
JA SOLAR PV TECHNOLOGY CO. LTD.
JINKO SOLAR
KACO NEW ENERGY GMBH
KCC CORP.
KYOCERA
LDK SOLAR
LUMETA INC.
MAGE SUNOVATION GMBH
MEMC
MIASOLE
MITSUBISHI ELECTRIC CORP.
MOSER BAER SOLAR
MOTECH INDUSTRIES
OCI
ONYX SOLAR ENERGY
POWER-ONE
PYTHAGORAS SOLAR
RENEWABLE ENERGY CORP. (REC)
ST. GOBAIN
SANYO SOLAR USA (PANASONIC CORP.)
SATCON TECHNOLOGY CORP.
SCHNEIDER ELECTRIC
SCHOTT SOLAR AG
SHARP CORP.
SIEMENS
SILEX SYSTEMS
SMA SOLAR TECHNOLOGY AG
SOITEC
SOLAR CENTURY
SOLAR FABRIK AG
SOLAR FRONTIER
SOLARWORLD
SOLFOCUS, INC.
SUNPOWER CORP.
SUNTECH
SUNTRIX
TATA BP SOLAR
TOKUYAMA CORP.
TRINA SOLAR LTD.
WACKER CHEMIE AG
XUNLIGHT CORP.
YINGLI SOLAR
Solar Heating Company Profiles
Unglazed Solar Collectors
Flat Plate Solar Collectors
Evacuated-Tube Solar Collectors
AMK-SOLAC SYSTEMS
APRICUS
CALPAK
HAINING BAOGUANG HEAT COLLECTION TUBES CO. LTD.
HIMIN SOLAR ENERGY GROUP CO. LTD.
LINUO PARADIGMA CO. LTD.
SUNDA SOLAR ENERGY TECHNOLOGY CO. LTD.
SUNRAIN SOLAR ENERGY CO. LTD.
SUNSHORE SOLAR ENERGY PRODUCTS CO. LTD.
TATA POWER SOLAR
TSINGHUA SOLAR
VIESSMANN WERKE GMBH & CO KG
Integral Collector-Storage Units
INTEGRATED SOLAR
SUNEARTH
THERMAL CONVERSION TECHNOLOGY
Solar Air Collector
ARCTIC SUNLIGHT INNOVATION
ATAS INTERNATIONAL
CANSOLAIR
CONSERVAL ENGINEERING
ENVIRONMENTAL SOLAR SYSTEMS
GRAMMER SOLAR
SOLARVENTI
SUNSIARAY
YOUR SOLAR HOME
Concentrated Solar Power Company Profiles
Solar Reflective Films
ALANOD SOLAR
HYDRO ASA
KONICA MINOLTA INC.
REFLECTECH
Solar Mirrors
AGC SOLAR
FLABEG FE
GUARDIAN INDUSTRIES
REFLEX SPA
SKYFUEL
Solar Tube Receivers
ARCHIMEDE SOLAR ENERGY
RIOGLASS SOLAR INTERNATIONAL
SCHOTT SOLAR
Central Tower Receivers
AALBORG CSP
ABENGOA SOLAR
BABCOCK & WILCOX CO.
BRIGHTSOURCE ENERGY
CMI SOLAR
SENER
SOLARRESERVE
Supporting Equipment: Motors, Drives, Controllers, Hydraulics
ABB POWER GENERATION
ALBANDI SL
BOSCH REXROTH
EMERSON PROCESS MANAGEMENT
HAWE HYDRAULIK
HELAC CORP.
PARKER HANNIFIN
SAIDI
SCHUBERT & SALZER GMBH
WEBER HYDRAULIK
Parabolic Trough Solar Collector Assemblies
ABENGOA SOLAR
ENER-T INTERNATIONAL
INGEMETAL
NATIONAL STEEL FABRICATION
SOLARGENIX
TSK FLAGSOL
Fresnel Reflector Solar Collector Assemblies
CNIM
HIMIN SOLAR ENERGY GROUP CO. LTD.
INDUSTRIAL SOLAR
NOVATEC SOLAR
SOLAR EUROMED
SOLTIGUA
Solar Power Tower Heliostats
BRIGHTSOURCE ENERGY
ESOLAR
Parabolic Dishes
BRAYTON ENERGY
UNITED SUN SYSTEMS
Alternative Solar Photovoltaic Technology Companies
ANTEC SOLAR GMBH
ASCENT SOLAR TECHNOLOGIES INC.
AVANCIS GMBH
FIRST SOLAR INC.
FLISOM AG
GLOBAL SOLAR INC.
HANERGY THIN-FILM POWER GROUP LTD.
HELIATEK GMBH
HELIOTROP SAS
HELIOVOLT
KANEKA CORP.
MANZ AG
MIASOLÉ HI-TECH CORP.
MICROLINK DEVICES INC.
MIDSUMMER AB
MOSER BAER INDIA LTD.
NANOSOLAR INC.
ONYX SOLAR ENERGY
OPVIUS GMBH
OXFORD PHOTOVOLTAICS LTD.
SHOWA SHELL SEKIYU K.K. (SOLAR FRONTIER K.K.)
SIVA POWER INC.
SOITEC
SOLAR JUNCTION CORP.
SOLARMER ENERGY INC.
SOLARONIX SA
SOLARWORLD INDUSTRIES GMBH
SOLIBRO GMBH
SOLOPOWER SYSTEMS INC.
SUNSHINE PV CORP.
WÜRTH GROUP
Chapter 7 Appendix: Acronyms
Report Sources
List of Tables
Summary Table : Global Solar Power Market, by Technology, Through 2023
Table 1 : Annual Global Horizontal Irradiance and Direct Normal Irradiance for WEC Geo-Regions
Table 2 : Electricity Access, by Region, 2016 and Targets
Table 3 : Global Electricity Generation, by Region, 2012-2017
Table 4 : Global Net Electricity Generation, by Fuel, 2016 and 2017
Table 5 : Targets for 100% of Total Electricity from Renewables, 2020-2035
Table 6 : Annual Solar PV Capacity Additions, 2012-2017
Table 7 : Renewable Power Targets for Specific Amount of Installed Capacity or Generation, by Country
Table 8 : 2017 FIT Policy Adjustments
Table 9 : Common Perovskite Compounds
Table 10 : Other Relevant R&D Activities
Table 11 : Leading Players in Perovskite Solar Cell Development and Manufacturing, by Company
Table 12 : Key Mergers and Acquisitions in Solar Electricity Power Generation Market
Table 13 : Band Gap Energy Values of Semiconductors Used in PV Cells
Table 14 : Elements Common to All PV Cells
Table 15 : Global Solar PV Installed Capacity and Value, Through 2023
Table 16 : Global Solar PV Installed Capacity, by Region, Through 2023
Table 17 : Global Solar PV Market Value, by Region, Through 2023
Table 18 : Global Solar PV Installed Capacity, by Technology, Through 2023
Table 19 : Global Solar PV Market Value, by Technology, Through 2023
Table 20 : North American Solar PV Installed Capacity, by Technology, Through 2023
Table 21 : North American Solar PV Market Value, by Technology, Through 2023
Table 22 : North American Solar PV Installed Capacity, by Application, Through 2023
Table 23 : North American Solar PV Market Value, by Application, Through 2023
Table 24 : European Solar PV Installed Capacity, by Technology, Through 2023
Table 25 : European Solar PV Market Value, by Technology, Through 2023
Table 26 : European Solar PV Installed Capacity, by Application, Through 2023
Table 27 : European Solar PV Market Value, by Application, Through 2023
Table 28 : Asia-Pacific Solar PV Installed Capacity, by Technology, Through 2023
Table 29 : Asia-Pacific Solar PV Market Value, by Technology, Through 2023
Table 30 : Asia-Pacific Solar PV Installed Capacity, by Application, Through 2023
Table 31 : Asia-Pacific Solar PV Market Value, by Application, Through 2023
Table 32 : RoW Solar PV Installed Capacity, by Technology, Through 2023
Table 33 : RoW Solar PV Market Value, by Technology, Through 2023
Table 34 : RoW Solar PV Installed Capacity, by Application, Through 2023
Table 35 : RoW Solar PV Market Value, by Application, Through 2023
Table 36 : Common Solar Thermal Systems
Table 37 : Major Global Concentrated Solar Power Research Centers
Table 38 : Global CSP Installed Capacity and Value, Through 2023
Table 39 : Global CSP Installed Capacity, by Region, Through 2023
Table 40 : Global CSP Market Value, by Region, Through 2023
Table 41 : Global CSP Installed Capacity, by Technology, Through 2023
Table 42 : Global CSP Market Value, by Technology, Through 2023
Table 43 : North American CSP Installed Capacity, by Technology, Through 2023
Table 44 : North American CSP Market Value, by Technology, Through 2023
Table 45 : European CSP Installed Capacity, by Technology, Through 2023
Table 46 : European CSP Market Value, by Technology, Through 2023
Table 47 : Asia-Pacific CSP Installed Capacity, by Technology, Through 2023
Table 48 : Asia-Pacific CSP Market Value, by Technology, Through 2023
Table 49 : RoW CSP Installed Capacity, by Technology, Through 2023
Table 50 : RoW CSP Market Value, by Technology, Through 2023
Table 51 : Ascent Solar Technologies Inc.: Products Offered
Table 52 : Ascent Solar Technologies Inc.: Recent Developments
Table 53 : AVANCIS GmbH: Products Offered
Table 54 : AVANCIS GmbH: Recent Developments
Table 55 : First Solar Inc.: Products Offered
Table 56 : First Solar: Recent Developments
Table 57 : Flisom AG: Recent Developments
Table 58 : Global Solar Energy Inc.: Recent Developments
Table 59 : Hanergy Thin-film Power Group Ltd.: Products Offered
Table 60 : Hanergy Thin-film Power Group Ltd.: Recent Developments
Table 61 : Heliatek GmbH: Recent Developments
Table 62 : Kaneka Corp.: Recent Developments
Table 63 : Manz AG: Products Offered
Table 64 : Manz AG: Recent Developments
Table 65 : MicroLink Devices Inc.: Recent Developments
Table 66 : Midsummer AB: Recent Developments
Table 67 : OPVIUS GmbH: Recent Developments
Table 68 : Oxford Photovoltaics Ltd.: Recent Developments
Table 69 : Showa Shell Sekiyu K.K., (Solar Frontier K.K.): Products Offered
Table 70 : Solar Frontier K.K.: Recent Developments
Table 71 : Siva Power Inc.: Recent Developments
Table 72 : Solibro GmbH: Recent Developments
Table 73 : Solopower Systems Inc.: Recent Developments
Table 74 : Würth Group: Recent Developments
Table 75 : Acronyms Used in the Alternative Solar PV Technology Industry
Table 76 : Report Sources
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.