About Inorganic Photovoltaic
Inorganic Photovoltaic is used to generate electricity by using inorganic semiconductor materials. The inorganic photovoltaic power generation system is renewable and environmental-friendly and has been proved to be profitable across the world. Low-cost energy generation, reduction of carbon footprint, and contribution to sustainability are some of the advantages obtained by installing inorganic photovoltaic. Inorganic Photovoltaics can be mounted on rooftop, ground, or wall. Inorganic photovoltaic power generation has a clean energy technology and this is projected the growth of the Inorganic Photovoltaic market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Manufacturers having a strong hold in the market are Mitsubishi Electric Corporation, Hanwha Q CELLS, Panasonic Corporation, and First Solar. Analyst at AMA Research estimates that Asia Pacific Manufacturers will contribute the maximum growth to Global Inorganic Photovoltaic market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mitsubishi Electric Corporation (Japan), Hanwha Q CELLS (South Korea), Panasonic Corporation (Japan), First Solar (United States), Kaneka Corporation (Japan), Kyocera Corporation (Japan), Tesla (United States), Sharp Corporation (Japan), JA solar Co. Ltd (China) and Yingli Green (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Canadian Solar (Canada), Jinko Solar (China), ReneSola Co. Ltd (China), Sun Power Corp (United States), Suntech Power Holdings Co. Ltd (China) and Trina Solar (China).
Segmentation Overview
AMA Research has segmented the market of Global Inorganic Photovoltaic market by Type (Crystalline, Multicrystalline, Amorphous and Microcrystalline Si) and Region.
On the basis of geography, the market of Inorganic Photovoltaic has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use Verticals, the sub-segment i.e. Power Generation will boost the Inorganic Photovoltaic market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Compound, the sub-segment i.e. The III-V Compounds and Alloys will boost the Inorganic Photovoltaic market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Rapid Electrification and Industrialization Globally and Government of Various Countries giving Subsidies to the Manufacturer for Production and to the Consumer for Installation of Solar Panels
Market Growth Drivers:
Increasing the Demand for Reliable and Effective Electric Supply in Under Developed and Developing Economies and Growing Awareness about the Benefits of Renewable Energy among the People
Challenges:
Varying Weather conditions in Various Region
Restraints:
High Product Cost and Installation Cost of Inorganic Photovoltaic
Opportunities:
Increasing Demand from Residential and Commercial Sector worldwide and Rising Installation of Photovoltaic Plants and Power Stations in Developing Economies like India and China
Market Leaders and their expansionary development strategies
In February 2019, the government of India has announced to set up 2,000 MW solar power projects. In addition, it is estimated viability gap funding is more than USD 12246.23. Hence, this will, in turn, propel the growth of the photovoltaic system market.
In December 2022, Mitsubishi Electric Corporation launched that its new SLIMDIP-Z power semiconductor module, featuring an extra-high 30A rated current for use in inverter systems of home appliances, will be released in February 2023. The compact module will enable the SLIMDIPTM series to meet a wider range of power and size needs for inverter units, specifically by simplifying and downsizing systems for multifunctional and sophisticated products such as air conditioners, washing machines and refrigerators.
In December 2018, the Government of the United Kingdom, Ministry of Energy and Mineral Resources has issued ministerial regulation 49/2018 on the use of electricity produced through rooftop photovoltaic solar panels for customers of state-owned electricity. Hence, it is anticipated to restrain growth in the foreseeable future.
Key Target Audience
Inorganic Photovoltaic Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.