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
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.
All major geographies and key segments
Application (Residential, Non-Residential, Utility); Component (Crystalline Silicon PV Cells, Thin Film PV Cells, Optics, Trackers); Type (Organic PV, Inorganic PV)
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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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
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