Photovoltaics (PV) is the branch of technology related to the electric current generated due to the voltage difference produced at the junction of two substances exposed to light. Photovoltaic systems are most commonly used to convert sunlight into electrical energy. Worldwide, the demand for these systems has been tracing an exponential growth curve owing to the fact that they are reliable, safe, easy to install, and incur less operating costs. Over the last two decades, they have evolved as a mainstream electricity source from a pure niche market of limited and small-scale applications. With the abundant availability of sunlight, the enormous potential of solar PV and its benefits are fuelling the growth of the global photovoltaics market.
The growth of this market was primarily driven by Japan and pioneering North American and European countries until a few years back. With supportive government policies and incentives, the production of photovoltaic systems has started to ramp up in emerging economies such as India, China, and Brazil. Consequently, this is leading to declining cost of these systems due to technological advancements and economies of scale. Moreover, with the increasing demand for solar systems in residential applications, the deployment of these systems is gaining significant impetus on a global scale. These factors are collectively providing a significant push to the global photovoltaics market.
Despite declining prices, the cost of installation of photovoltaic systems remains fairly high. Moreover, installation of solar PV requires large operational land. Due to rising population and increasing construction of residential units, there is a continuous shortage of land. These factors are restraining the growth of the market. Another factor hampering the growth of the market is the shortage of certified installers. However, with the increasing prices of fossil fuels and rapidly depleting exhaustible sources of energy, the demand for solar PV is likely to increase, thereby propelling the photovoltaics market in the near future.
QYResearchReports.com presents a large database offering a plethora of reports on niche markets under the category of photovoltaics. Some of the markets discussed under this category are the global energy storage system (EES) market, global photovoltaic modules market, United States steering columns system, global solar cells market, global smart solar market, global BIPV market, global thin film solar cell market, United States solar cell equipment market, and global and China solar PV modules market.
QYResearchReports.com also provides key insights into the global photovoltaics market by meticulously examining critical parameters of the market including the classifications, industry chain structure, technological developments, and applications. Competitive landscape analysis and regional segmentation form important parts of each report in the category.
The reports in this category also present a detailed evaluation of the key players in the photovoltaics industry. They profile the key players along with their revenue and cost structures, capacity, production, product pictures and specifications, price, and contact information are offered in the reports. All the reports pay due heed to the significance of the upstream raw materials supply chain and the downstream value chain. The various statistics pertaining to the market have also been presented in pictorial and tabular forms for a lucid analysis.