Report Code: CMI28322

Published Date: August 2023

Pages: 220+

Category: Renewable Energy

Report Snapshot

CAGR: 13.1%
127.5B
2022
147.3B
2023
326.2B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • JinkoSolar Holding Co. Ltd.
  • Trina Solar Limited
  • Canadian Solar Inc.
  • First Solar Inc.
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the global Solar PV Supply Chain Market is expected to record a CAGR of 13.1% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 127.5 billion. By 2032, the valuation is anticipated to reach USD 326.2 billion.

PV-Grade Polysilicon, Wafers, Cells, and Modules Trade Value, 2019-2022

PV-Grade 2019 2020 2021 2022
Polysilicon 1.2 0.9 2.6 3.2
Wafers 1.7 1.7 3.4 2.9
Cells 2.1 2.2 2.2 3.1
Modules 18.3 19 32.5 39.3
Source: According to iea.org

The solar PV supply chain market involves the interconnected stages of producing, assembling, distributing, and installing solar photovoltaic systems. It encompasses raw materials, manufacturing, logistics, installation, and maintenance.

Trends include declining costs due to technological advancement, government policies supporting renewable energy adoption, increasing focus on energy storage integration, and a shift towards utility-scale projects.

Additionally, corporate sustainability initiatives drive demand, highlighting the market’s evolution towards cleaner energy solutions and sustainable practices across the value chain.

Solar PV Supply Chain Market – Significant Growth Factors

The Solar PV Supply Chain Market presents significant growth opportunities due to several factors:

  • Declining Costs: Continuous technological advancements and economies of scale have significantly contributed to the reduction in solar PV component costs. This cost-effectiveness has amplified the attractiveness of solar energy, encouraging a wider adoption and spurring market growth across diverse segments and regions.
  • Government Policies and Incentives: Supportive regulations, subsidies, and financial incentives implemented by governments globally have not only created a favourable environment for solar PV investments but also fostered a sense of security and confidence among stakeholders. These policies effectively facilitate increased investments in solar PV installations, nurturing market expansion.
  • Environmental Awareness: The intensifying concern about climate change and the urgency to mitigate carbon emissions have prompted a notable shift towards embracing renewable energy sources. As individuals, businesses, and nations become more environmentally conscious, the adoption of solar power gains momentum, driven by the desire to contribute to a sustainable and greener future.
  • Energy Transition: The overarching global transition towards cleaner and sustainable energy sources is a pivotal driver of the Solar PV Supply Chain Market. Governments and utility companies, striving to meet ambitious renewable energy targets, are actively investing in large-scale solar projects. These utility-scale initiatives not only bolster the market’s growth but also play a substantial role in the global transition to cleaner energy systems.
  • Energy Storage Integration: The convergence of solar PV technology with advanced energy storage solutions presents a transformative opportunity. The seamless integration of energy storage systems enhances grid stability, enables power generation during non-sunlight hours, and augments overall energy system reliability. This symbiotic relationship between solar and storage addresses challenges associated with intermittency, paving the way for resilient and efficient renewable energy systems.
  • Emerging Markets: The expanding footprint of solar PV adoption in emerging economies unveils significant untapped opportunities. These markets, characterized by burgeoning energy demand, increasing urbanization, and a desire to diversify energy sources, offer immense growth potential. As these regions prioritize energy security and sustainable development, solar PV emerges as a pivotal solution, presenting a ripe landscape for market penetration and expansion.

Mergers and Acquisitions

The Solar PV Supply Chain Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Solar PV Supply Chain Market include:

  • TotalEnergies and SunPower: In 2022, TotalEnergies (NYSE:TTE) announced it has signed a definitive agreement with SunPower Corp.’s (NASDAQ:SPWR) to purchase its Commercial & Industrial Solutions (CIS) business for $250 billion, including $60 billion of earn-out subject to regulatory evolution. Expanding its renewable energy portfolio and leveraging SunPower’s expertise in residential and commercial solar solutions.
  • GE and BlackRock: In 2019, GE Solar and BlackRock announced the creation of a new business, Distributed Solar Development, a GE Renewable Energy Venture (DSD). The company, which will be 80 percent owned by a fund managed by BlackRock Real Assets and 20 percent owned by GE Renewable Energy, will focus on solar and storage solutions for the commercial industrial and public sectors.
  • Trina Solar and Nclave: In 2018, Trina Solar acquired a 51% stake in Nclave and became the first Chinese photovoltaic company to acquire an overseas solar tracker system company. The acquisition of the remaining equity is an important strategic deployment for Trina Solar and will further enhance the company’s comprehensive market competitiveness.
  • Siemens and juwi: In 2019, Siemens and the renewable energy developer juwi have joined forces to enter into a strategic technology partnership to focus on microgrids in the mining industry. Focuses on hybrid solar and wind projects, combining expertise in renewable energy technologies to create integrated clean energy solutions.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Solar PV Supply Chain Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Solar PV Supply Chain Market Solar PV (Photovoltaic) Panels Market Solar PV Market
CAGR 13.1% (Approx) CAGR 8.6% (Approx) CAGR 8.3% (Approx)
USD 326.1 Billion by 2032 USD 292.32 Billion by 2030 USD 306.16 Billion by 2030

Solar PV Supply Chain Market – Significant Threats

The Solar PV Supply Chain Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Supply Chain Disruptions: Vulnerabilities in the global supply chain, stemming from geopolitical tensions, trade disputes, or unforeseen events, can lead to disruptions in the availability of critical solar PV components, impacting manufacturing timelines and project execution.
  • Policy Uncertainties: Changes in government policies, subsidies, or incentives can create uncertainty for investors and developers, affecting market dynamics and deterring investments in solar PV projects.
  • Technological Shifts: Rapid advancements in solar PV technology may lead to the obsolescence of certain components or systems, rendering existing investments less competitive and necessitating costly upgrades.
  • Market Saturation: Oversaturation of solar PV installations in specific markets can lead to decreased demand, competitive pricing pressures, and challenges in finding viable project locations, potentially impacting market profitability and growth prospects.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 147.3 Billion
Projected Market Size in 2032 USD 326.2 Billion
Market Size in 2022 USD 127.5 Billion
CAGR Growth Rate 13.1% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type:

  • Solar Polysilicon: Solar polysilicon is the fundamental material utilized in crafting solar cells. In the Solar PV Supply Chain Market, an ongoing trend focuses on enhancing production efficiency to meet escalating demand. Additionally, sustainable practices are gaining prominence, with recycling initiatives gaining traction and exploration of alternative materials gaining momentum, contributing to cost reduction, and minimizing environmental impact.
  • Ingot and Wafer: In the Solar PV Supply Chain, ingot and wafer production represents a crucial stage preceding solar cell creation. Noteworthy trends encompass the development of larger wafers, such as the shift towards larger formats like the M6 and M10, aimed at augmenting solar panel efficiency and further reducing costs. Manufacturing processes are evolving, ushering in advancements that enhance the yield and quality of these essential components.
  • Solar Cell: Solar cells, pivotal to the conversion of sunlight into electricity, remain a key focus in the Solar PV Supply Chain. The market is witnessing a drive toward higher cell efficiencies, spurred by technological innovations and research. Notably, advanced cell architectures like PERC (Passivated Emitter Rear Cell) and bifacial cells are gaining prominence, while integration with energy storage solutions enhances grid stability and offers a sustainable energy ecosystem.
  • Solar Module: Assembling solar cells into functional units, solar modules are integral to the Solar PV Supply Chain. Recent trends revolve around boosting power output, achieved through advancements in cell efficiency and module design. Moreover, lightweight module designs are gaining attention, enhancing installation flexibility, and expanding potential application areas. Smart modules, embedded with monitoring and optimization technology, exemplify the industry’s pursuit of innovative solutions to meet evolving consumer needs.

By Application

  • Utility Scale: Utility-scale solar PV installations involve large power generation projects that supply electricity directly to the grid, contributing significantly to the energy mix. Trends include increased investments by utility companies in solar farms, driven by renewable energy targets and cost-effective power generation.
  • C&I (Commercial and Industrial): C&I solar installations cater to businesses and industries, reducing operational costs and environmental impact. Trends include growing adoption by corporations aiming for sustainability goals, often coupled with energy storage solutions for enhanced efficiency.
  • Residential: Residential solar PV systems are installed on rooftops or properties, allowing homeowners to generate their electricity and potentially sell excess energy to the grid. Trends encompass rising consumer interest due to declining costs, coupled with favourable policies and incentives encouraging residential solar adoption.

Global Solar PV Supply Chain Market 2023–2032 (By Billion)

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Solar PV Supply Chain Market – Regional Analysis

The Solar PV Supply Chain Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, the Solar PV Supply Chain Market is witnessing a trend of increasing corporate procurement of renewable energy. Major corporations are investing in large-scale solar projects to meet sustainability goals, bolstered by attractive power purchase agreements (PPAs). Additionally, energy storage integration is gaining prominence, as utilities seek to enhance grid stability and accommodate intermittent renewable energy sources.
  • Europe: In Europe, the trend of community solar projects is gaining traction. Collaborative efforts, such as shared solar installations, are becoming popular, fostering local energy production and community engagement. Furthermore, the circular economy approach is emerging, focusing on recycling and repurposing solar PV components to minimize waste and maximize resource efficiency.
  • Asia-Pacific: The Asia-Pacific region is characterized by a surge in residential solar adoption. Rising urbanization and energy demand are driving homeowners to install solar panels for self-consumption and grid feed-in. Moreover, innovative financing models, such as leasing and power purchase agreements, are encouraging solar installation in regions where upfront costs might be a barrier.
  • LAMEA (Latin America, Middle East, and Africa): LAMEA is experiencing a growing trend of utility-scale solar installations. The region’s vast land availability and abundant sunlight make it conducive for large solar projects. Governments in the Middle East are particularly investing heavily in solar energy, while in Latin America, countries like Brazil and Mexico are promoting solar auctions to attract investments and drive renewable energy growth.

Global Solar PV Supply Chain Market 2023–2032 (By Application)

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Competitive Landscape – Solar PV Supply Chain Market

The Solar PV Supply Chain Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • JinkoSolar Holding Co. Ltd.
  • Trina Solar Limited
  • Canadian Solar Inc.
  • First Solar Inc.
  • LONGi Green Energy Technology Co. Ltd.
  • Hanwha Q CELLS Co. Ltd.
  • JA Solar Holdings Co. Ltd.
  • Risen Energy Co. Ltd.
  • SunPower Corporation
  • REC Silicon ASA
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Several new entrants are leveraging innovation to penetrate the market. Companies like Sunnova Energy International and Sunrun Inc. are pioneering residential solar-as-a-service models, simplifying solar adoption for homeowners.

Additionally, innovative startups such as Enphase Energy focus on advanced microinverter technology, enhancing system efficiency. Dominant key players like JinkoSolar, First Solar, and Canadian Solar have established themselves with extensive global project portfolios, technological leadership, and strong manufacturing capabilities.

These industry leaders leverage economies of scale, technological advancements, and established partnerships to maintain market dominance, catering to diverse segments and regions.

The Solar PV Supply Chain Market is segmented as follows:

By Type

  • Solar Polysilicon
  • Ingot and Wafer
  • Solar Cell
  • Solar Module

By Application

  • Utility Scale
  • C&I
  • Residential

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Solar PV Supply Chain Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Solar PV Supply Chain Market : snapshot
  • Chapter 3. Global Solar PV Supply Chain Market – Industry Analysis
    • 3.1 Solar PV Supply Chain Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Declining Costs
      • 3.2.2 Government Policies and Incentives
      • 3.2.3 Environmental Awareness
      • 3.2.4 Energy Transition
      • 3.2.5 Energy Storage Integration
      • 3.2.6 Emerging Markets.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Solar PV Supply Chain Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Solar PV Supply Chain Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Solar PV Supply Chain Market – Type Analysis
    • 5.1 Global Solar PV Supply Chain Market overview: By Type
      • 5.1.1 Global Solar PV Supply Chain Market share, By Type, 2022 and – 2033
    • 5.2 Solar Polysilicon
      • 5.2.1 Global Solar PV Supply Chain Market by Solar Polysilicon, 2024 – 2033 (USD Billion)
    • 5.3 Ingot and Wafer
      • 5.3.1 Global Solar PV Supply Chain Market by Ingot and Wafer, 2024 – 2033 (USD Billion)
    • 5.4 Solar Cell
      • 5.4.1 Global Solar PV Supply Chain Market by Solar Cell, 2024 – 2033 (USD Billion)
    • 5.5 Solar Module
      • 5.5.1 Global Solar PV Supply Chain Market by Solar Module, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Solar PV Supply Chain Market – Application Analysis
    • 6.1 Global Solar PV Supply Chain Market overview: By Application
      • 6.1.1 Global Solar PV Supply Chain Market share, By Application, 2022 and – 2033
    • 6.2 Utility Scale
      • 6.2.1 Global Solar PV Supply Chain Market by Utility Scale, 2024 – 2033 (USD Billion)
    • 6.3 C&I
      • 6.3.1 Global Solar PV Supply Chain Market by C&I, 2024 – 2033 (USD Billion)
    • 6.4 Residential
      • 6.4.1 Global Solar PV Supply Chain Market by Residential, 2024 – 2033 (USD Billion)
  • Chapter 7. Solar PV Supply Chain Market – Regional Analysis
    • 7.1 Global Solar PV Supply Chain Market Regional Overview
    • 7.2 Global Solar PV Supply Chain Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Solar PV Supply Chain Market, 2024 – 2033 (USD Billion)
        • 7.3.1.1 North America Solar PV Supply Chain Market, by Country, 2024 – 2033 (USD Billion)
    • 7.4 North America Solar PV Supply Chain Market, by Type, 2024 – 2033
      • 7.4.1 North America Solar PV Supply Chain Market, by Type, 2024 – 2033 (USD Billion)
    • 7.5 North America Solar PV Supply Chain Market, by Application, 2024 – 2033
      • 7.5.1 North America Solar PV Supply Chain Market, by Application, 2024 – 2033 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Solar PV Supply Chain Market, 2024 – 2033 (USD Billion)
        • 7.6.1.1 Europe Solar PV Supply Chain Market, by Country, 2024 – 2033 (USD Billion)
    • 7.7 Europe Solar PV Supply Chain Market, by Type, 2024 – 2033
      • 7.7.1 Europe Solar PV Supply Chain Market, by Type, 2024 – 2033 (USD Billion)
    • 7.8 Europe Solar PV Supply Chain Market, by Application, 2024 – 2033
      • 7.8.1 Europe Solar PV Supply Chain Market, by Application, 2024 – 2033 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Solar PV Supply Chain Market, 2024 – 2033 (USD Billion)
        • 7.9.1.1 Asia Pacific Solar PV Supply Chain Market, by Country, 2024 – 2033 (USD Billion)
    • 7.10 Asia Pacific Solar PV Supply Chain Market, by Type, 2024 – 2033
      • 7.10.1 Asia Pacific Solar PV Supply Chain Market, by Type, 2024 – 2033 (USD Billion)
    • 7.11 Asia Pacific Solar PV Supply Chain Market, by Application, 2024 – 2033
      • 7.11.1 Asia Pacific Solar PV Supply Chain Market, by Application, 2024 – 2033 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Solar PV Supply Chain Market, 2024 – 2033 (USD Billion)
        • 7.12.1.1 Latin America Solar PV Supply Chain Market, by Country, 2024 – 2033 (USD Billion)
    • 7.13 Latin America Solar PV Supply Chain Market, by Type, 2024 – 2033
      • 7.13.1 Latin America Solar PV Supply Chain Market, by Type, 2024 – 2033 (USD Billion)
    • 7.14 Latin America Solar PV Supply Chain Market, by Application, 2024 – 2033
      • 7.14.1 Latin America Solar PV Supply Chain Market, by Application, 2024 – 2033 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Solar PV Supply Chain Market, 2024 – 2033 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Solar PV Supply Chain Market, by Country, 2024 – 2033 (USD Billion)
    • 7.16 The Middle-East and Africa Solar PV Supply Chain Market, by Type, 2024 – 2033
      • 7.16.1 The Middle-East and Africa Solar PV Supply Chain Market, by Type, 2024 – 2033 (USD Billion)
    • 7.17 The Middle-East and Africa Solar PV Supply Chain Market, by Application, 2024 – 2033
      • 7.17.1 The Middle-East and Africa Solar PV Supply Chain Market, by Application, 2024 – 2033 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 JinkoSolar Holding Co. Ltd.
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Trina Solar Limited
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Canadian Solar Inc.
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 First Solar Inc.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 LONGi Green Energy Technology Co. Ltd.
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Hanwha Q CELLS Co. Ltd.
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 JA Solar Holdings Co. Ltd.
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Risen Energy Co. Ltd.
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 SunPower Corporation
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 REC Silicon ASA
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Others.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
List Of Figures

Figures No 1 to 21

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • JinkoSolar Holding Co. Ltd.
  • Trina Solar Limited
  • Canadian Solar Inc.
  • First Solar Inc.
  • LONGi Green Energy Technology Co. Ltd.
  • Hanwha Q CELLS Co. Ltd.
  • JA Solar Holdings Co. Ltd.
  • Risen Energy Co. Ltd.
  • SunPower Corporation
  • REC Silicon ASA
  • Others

FAQs

The key factors driving the Market are Declining Costs, Government Policies and Incentives, Environmental Awareness, Energy Transition, Energy Storage Integration And Emerging Markets.

The “Solar Polysilicon” category dominated the market in 2022.

The key players in the market are JinkoSolar Holding Co. Ltd., Trina Solar Limited, Canadian Solar Inc., First Solar Inc., LONGi Green Energy Technology Co. Ltd., Hanwha Q CELLS Co. Ltd., JA Solar Holdings Co. Ltd., Risen Energy Co. Ltd., SunPower Corporation, REC Silicon ASA, Others.

“Asia-Pacific” had the largest share in the Solar PV Supply Chain Market.

The global market is projected to grow at a CAGR of 13.1% during the forecast period, 2023-2032.

The Solar PV Supply Chain Market size was valued at USD 127.5 Billion in 2022.

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