Solar Panel Market Identifies the Key Drivers of Growth, Demand and Challenges of the Key Industry Players 2026

Solar Panel Market

According to IMARC Group’s latest report, titled “Solar Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a volume of 178.3 GW in 2020. A solar panel is a collection of solar (or photovoltaic) cells that use natural sunlight to generate electricity. It is primarily manufactured by using boron, silicon, and phosphorus, which are arranged in a grid-like pattern on the surface. The utilization of solar panels has increased substantially as their installation assists in combating the harmful emissions of greenhouse gases.

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Solar panels offer renewable power sources and assist in minimizing the amount of electricity produced from fossil fuels. Owing to this, governments in several emerging nations are providing tax relaxations and introducing various awareness campaigns to promote their installation. Besides this, several key manufacturers are launching ultrathin solar panels, which are lighter and more flexible than the glass-based variants. These ultrathin variants are also superior to conventional solar panels in terms of efficiency and cost-effectiveness. Additionally, continuous innovations in the field of quantum physics and nanotechnology to increase solar panels’ effectiveness are projected to further propel the market growth in the coming years. Looking forward, IMARC Group expects the solar panels market to grow at a CAGR of 18.5% during 2021-2026.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

  • Jinko Solar
  • Trina Solar
  • Canadian Solar
  • JA Solar
  • Hanwha Q-CELLS
  • GCL-SI
  • LONGi Solar
  • Risen Energy
  • Shunfeng
  • Yingli Green

Market Segmentation:

Breakup by Type:

  • Crystal Silicon
  • Monocrystalline Silicon
  • Polycrystalline Silicon
  • Thin Film
  • Others

Breakup by End Use:

  • Commercial
  • Residential
  • Industrial

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

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Key highlights of the report:                                                    

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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1    Preface
2    Scope and Methodology

2.1    Objectives of the study
2.2    Stakeholders
2.3    Data Sources
2.3.1   Primary Sources
2.3.2   Secondary Sources
2.4    Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

4.1    Overview
4.2    Key Industry Trends
5    Global Solar Panel Industry
5.1    Market Overview
5.2    Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3    Impact of COVID-19
5.4    Price Trends
5.5    Market Breakup by Type
5.6    Market Breakup by Region
5.7    Market Breakup by End Use
5.8    Market Forecast
5.9   SWOT Analysis
5.9.1    Strengths
5.9.2    Weaknesses
5.9.3    Opportunities
5.9.4    Threats
5.10    Value Chain Analysis
5.11    Porter’s Five Forces Analysis
5.11.1    Overview
5.11.2    Bargaining Power of Buyers
5.11.3    Bargaining Power of Suppliers
5.11.4    Degree of Competition
5.11.5    Threat of New Entrants
5.11.6    Threat of Substitutes
5.12    Key Success Factors and Risk Factors for Solar Panel Manufacturers
6    Market by Type 
6.1 Crystal Silicon
6.1.1    Market Trends
6.1.2    Market Forecast
6.2 Monocrystalline Silicon
6.2.1    Market Trends
6.2.2    Market Forecast
6.3 Polycrystalline Silicon
6.3.1    Market Trends
6.3.2    Market Forecast
6.4 Thin Film
6.4.1    Market Trends
6.4.2    Market Forecast
6.5 Others
6.5.1    Market Trends
6.5.2    Market Forecast
7    Performance of Key Regions
7.1   Asia Pacific
7.1.1    Market Trends
7.1.2    Market Forecast
7.2   North America
7.2.1    Market Trends
7.2.2    Market Forecast
7.3   Europe
7.3.1    Market Trends
7.3.2    Market Forecast
7.4   Latin America
7.4.1    Market Trends
7.4.2    Market Forecast
7.5   Middle East and Africa
7.5.1    Market Trends
7.5.2    Market Forecast
8    Market by End Use
8.1   Commercial
8.1.1    Market Trends
8.1.2    Market Forecast
8.2   Residential
8.2.1    Market Trends
8.2.2    Market Forecast
8.3   Industrial
8.3.1    Market Trends
8.3.2    Market Forecast
9   Competitive Landscape
9.1    Market Structure
9.2    Capacities of Key Players
10   Solar Panel Manufacturing Process
10.1    Product Overview
10.2    Detailed Process Flow
10.3    Various Types of Unit Operations Involved
10.4    Mass Balance and Raw Material Requirements
11    Project Details, Requirements and Costs Involved
11.1    Land Requirements and Expenditures
11.2    Construction Requirements and Expenditures
11.3    Plant Machinery
11.4    Raw Material Requirements and Expenditures
11.5    Packaging Requirements and Expenditures
11.6    Transportation Requirements and Expenditures
11.7    Utility Requirements and Expenditures
11.8    Manpower Requirements and Expenditures
11.9    Other Capital Investments
12   Loans and Financial Assistance
13   Project Economics

13.1    Capital Cost of the Project
13.2    Techno-Economic Parameters
13.3    Product Pricing and Margins Across Various Levels of the Supply Chain
13.4    Taxation and Depreciation
13.5    Income Projections
13.6    Expenditure Projections
13.7    Financial Analysis
13.8    Profit Analysis
14    Key Player Profiles
14.1    Jinko Solar
14.2    Trina Solar
14.3    Canadian Solar
14.4    JA Solar
14.5    Hanwha Q-CELLS
14.6    GCL-SI
14.7    LONGi Solar
14.8    Risen Energy
14.9    Shunfeng
14.10    Yingli Green

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