With Market Size Valued at $618.7 Billion by 2026, it`s a Healthy Outlook for the Global Photovoltaics Market

SAN FRANCISCO, Sept. 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Photovoltaics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition:

7;

Released:

April 2021

Executive Pool:

447

Companies:

43 - Players covered include 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. and Others.

Coverage:

All major geographies and key segments

Segments:

Application (Residential, Non-Residential, Utility); Component (Crystalline Silicon PV Cells, Thin Film PV Cells, Optics, Trackers); Type (Organic PV, Inorganic PV)

Geographies:

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-
Global Photovoltaics Market to Reach $618.7 Billion by 2026

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$618.7 Billion by 2026, growing at a CAGR of 17.2% over the analysis period. Organic PV, one of the segments analyzed in the report, is projected to record a 21.7% CAGR and reach US$48.2 Billion by the end of the analysis period. After a thorough 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 $74.3 Billion in 2021, While China is Forecast to Reach $139 Billion by 2026
The Photovoltaics market in the U.S. is estimated at US$74.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$139 Billion by the year 2026 trailing a CAGR of 22.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.5% and 15.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.6% CAGR. More

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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