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Grid Connected PV Systems-Global Market Insights and Sales Trends 2024
Synopsis
A grid connected photovoltaic power system is a solar PV system connected to utility grid that generates electricity using solar power. A grid connected PV system comprises solar panels, a power conditioning unit, grid connection equipment, and one or many inverters. These systems can range from commercial rooftop systems and small residential units to large utility-scale solar power stations. Unlike standalone solar power equipment, grid connected systems seldom constitute any integrated battery solutions. During favorable conditions, a grid connected PV system supplies superfluous power to the utility, beyond what is required for consumption of the connected load.
The global Grid Connected PV Systems market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Grid Connected PV Systems in various end use industries. The expanding demands from the Residential and Non-Residential, are propelling Grid Connected PV Systems market. Solar Panels, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Power Conditioning Unit segment is estimated at % CAGR for the next seven-year period.
China has implemented the Renewable Energy Law since 2006, in which Article 4 clearly states that, the State gives first priority to the exploration of renewable energy. Over the years, various departments of the Chinese government have successively issued a large number of policies, covering production, sales, taxation, subsidies and other aspects. After setting the carbon neutrality goal in 2021, from a national perspective, the upgrading of the energy structure is ever imperative, and therefore the optoelectronic industry has great potential. The European Commission released the Net-Zero Industry Act in 2023. This bill aims to stimulate local manufacturing in Europe, reduce import dependence on China, and ensure that at least 40% of the EU's clean energy demand can be met by 2030. The EU targets an installed solar capacity of 600 GW. Overall, the European market still has a lot of room for development. US 2022 release of the Inflation Reduction Act, which includes $369 billion for energy security and climate change investments. For the photovoltaic industry, the bill stimulates its development from multiple aspects such as corporate and individual tax credits, production subsidies, and loans throughout the industry chain, and revitalizes the domestic manufacturing industry in the United States. Japanese authorities plan to make solar panels mandatory for new residential buildings in Tokyo from 2025 onwards. It is estimated that by 2030, photovoltaic power generation will account for 14%-16% of Japan's total power generation, and the cumulative installed capacity of photovoltaic systems will be about 117.78 GW.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Grid Connected PV Systems, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Grid Connected PV Systems market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Grid Connected PV Systems market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Grid Connected PV Systems sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Grid Connected PV Systems covered in this report include Canadian Solar, Hanwha Group, Huawei Technologies, JA SOLAR, JinkoSolar and Trina Solar, etc.
The global Grid Connected PV Systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Canadian Solar
Hanwha Group
Huawei Technologies
JA SOLAR
JinkoSolar
Trina Solar
Global Grid Connected PV Systems market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Grid Connected PV Systems market, Segment by Type:
Solar Panels
Power Conditioning Unit
Grid Connection Equipment
Inverters
Global Grid Connected PV Systems market, by Application
Residential
Non-Residential
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Grid Connected PV Systems manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Grid Connected PV Systems in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
A grid connected photovoltaic power system is a solar PV system connected to utility grid that generates electricity using solar power. A grid connected PV system comprises solar panels, a power conditioning unit, grid connection equipment, and one or many inverters. These systems can range from commercial rooftop systems and small residential units to large utility-scale solar power stations. Unlike standalone solar power equipment, grid connected systems seldom constitute any integrated battery solutions. During favorable conditions, a grid connected PV system supplies superfluous power to the utility, beyond what is required for consumption of the connected load.
The global Grid Connected PV Systems market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Grid Connected PV Systems in various end use industries. The expanding demands from the Residential and Non-Residential, are propelling Grid Connected PV Systems market. Solar Panels, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Power Conditioning Unit segment is estimated at % CAGR for the next seven-year period.
China has implemented the Renewable Energy Law since 2006, in which Article 4 clearly states that, the State gives first priority to the exploration of renewable energy. Over the years, various departments of the Chinese government have successively issued a large number of policies, covering production, sales, taxation, subsidies and other aspects. After setting the carbon neutrality goal in 2021, from a national perspective, the upgrading of the energy structure is ever imperative, and therefore the optoelectronic industry has great potential. The European Commission released the Net-Zero Industry Act in 2023. This bill aims to stimulate local manufacturing in Europe, reduce import dependence on China, and ensure that at least 40% of the EU's clean energy demand can be met by 2030. The EU targets an installed solar capacity of 600 GW. Overall, the European market still has a lot of room for development. US 2022 release of the Inflation Reduction Act, which includes $369 billion for energy security and climate change investments. For the photovoltaic industry, the bill stimulates its development from multiple aspects such as corporate and individual tax credits, production subsidies, and loans throughout the industry chain, and revitalizes the domestic manufacturing industry in the United States. Japanese authorities plan to make solar panels mandatory for new residential buildings in Tokyo from 2025 onwards. It is estimated that by 2030, photovoltaic power generation will account for 14%-16% of Japan's total power generation, and the cumulative installed capacity of photovoltaic systems will be about 117.78 GW.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Grid Connected PV Systems, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Grid Connected PV Systems market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Grid Connected PV Systems market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Grid Connected PV Systems sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Grid Connected PV Systems covered in this report include Canadian Solar, Hanwha Group, Huawei Technologies, JA SOLAR, JinkoSolar and Trina Solar, etc.
The global Grid Connected PV Systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Canadian Solar
Hanwha Group
Huawei Technologies
JA SOLAR
JinkoSolar
Trina Solar
Global Grid Connected PV Systems market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Grid Connected PV Systems market, Segment by Type:
Solar Panels
Power Conditioning Unit
Grid Connection Equipment
Inverters
Global Grid Connected PV Systems market, by Application
Residential
Non-Residential
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Grid Connected PV Systems manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Grid Connected PV Systems in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Grid Connected PV Systems Market Overview
1.1 Grid Connected PV Systems Product Overview
1.2 Grid Connected PV Systems Market Segment by Type
1.2.1 Solar Panels
1.2.2 Power Conditioning Unit
1.2.3 Grid Connection Equipment
1.2.4 Inverters
1.3 Global Grid Connected PV Systems Market Size by Type
1.3.1 Global Grid Connected PV Systems Market Size Overview by Type (2018-2029)
1.3.2 Global Grid Connected PV Systems Historic Market Size Review by Type (2018-2023)
1.3.3 Global Grid Connected PV Systems Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Grid Connected PV Systems Sales Breakdown by Type (2018-2023)
1.4.2 Europe Grid Connected PV Systems Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Grid Connected PV Systems Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Grid Connected PV Systems Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Grid Connected PV Systems Sales Breakdown by Type (2018-2023)
2 Global Grid Connected PV Systems Market Competition by Company
2.1 Global Top Players by Grid Connected PV Systems Sales (2018-2023)
2.2 Global Top Players by Grid Connected PV Systems Revenue (2018-2023)
2.3 Global Top Players by Grid Connected PV Systems Price (2018-2023)
2.4 Global Top Manufacturers Grid Connected PV Systems Manufacturing Base Distribution, Sales Area, Product Type
2.5 Grid Connected PV Systems Market Competitive Situation and Trends
2.5.1 Grid Connected PV Systems Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Grid Connected PV Systems Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Grid Connected PV Systems as of 2022)
2.7 Date of Key Manufacturers Enter into Grid Connected PV Systems Market
2.8 Key Manufacturers Grid Connected PV Systems Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Grid Connected PV Systems Status and Outlook by Region
3.1 Global Grid Connected PV Systems Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Grid Connected PV Systems Historic Market Size by Region
3.2.1 Global Grid Connected PV Systems Sales in Volume by Region (2018-2023)
3.2.2 Global Grid Connected PV Systems Sales in Value by Region (2018-2023)
3.2.3 Global Grid Connected PV Systems Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Grid Connected PV Systems Forecasted Market Size by Region
3.3.1 Global Grid Connected PV Systems Sales in Volume by Region (2024-2029)
3.3.2 Global Grid Connected PV Systems Sales in Value by Region (2024-2029)
3.3.3 Global Grid Connected PV Systems Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Grid Connected PV Systems by Application
4.1 Grid Connected PV Systems Market Segment by Application
4.1.1 Residential
4.1.2 Non-Residential
4.2 Global Grid Connected PV Systems Market Size by Application
4.2.1 Global Grid Connected PV Systems Market Size Overview by Application (2018-2029)
4.2.2 Global Grid Connected PV Systems Historic Market Size Review by Application (2018-2023)
4.2.3 Global Grid Connected PV Systems Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Grid Connected PV Systems Sales Breakdown by Application (2018-2023)
4.3.2 Europe Grid Connected PV Systems Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Grid Connected PV Systems Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Grid Connected PV Systems Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Grid Connected PV Systems Sales Breakdown by Application (2018-2023)
5 North America Grid Connected PV Systems by Country
5.1 North America Grid Connected PV Systems Historic Market Size by Country
5.1.1 North America Grid Connected PV Systems Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Grid Connected PV Systems Sales in Volume by Country (2018-2023)
5.1.3 North America Grid Connected PV Systems Sales in Value by Country (2018-2023)
5.2 North America Grid Connected PV Systems Forecasted Market Size by Country
5.2.1 North America Grid Connected PV Systems Sales in Volume by Country (2024-2029)
5.2.2 North America Grid Connected PV Systems Sales in Value by Country (2024-2029)
6 Europe Grid Connected PV Systems by Country
6.1 Europe Grid Connected PV Systems Historic Market Size by Country
6.1.1 Europe Grid Connected PV Systems Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Grid Connected PV Systems Sales in Volume by Country (2018-2023)
6.1.3 Europe Grid Connected PV Systems Sales in Value by Country (2018-2023)
6.2 Europe Grid Connected PV Systems Forecasted Market Size by Country
6.2.1 Europe Grid Connected PV Systems Sales in Volume by Country (2024-2029)
6.2.2 Europe Grid Connected PV Systems Sales in Value by Country (2024-2029)
7 Asia-Pacific Grid Connected PV Systems by Region
7.1 Asia-Pacific Grid Connected PV Systems Historic Market Size by Region
7.1.1 Asia-Pacific Grid Connected PV Systems Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Grid Connected PV Systems Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Grid Connected PV Systems Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Grid Connected PV Systems Forecasted Market Size by Region
7.2.1 Asia-Pacific Grid Connected PV Systems Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Grid Connected PV Systems Sales in Value by Region (2024-2029)
8 Latin America Grid Connected PV Systems by Country
8.1 Latin America Grid Connected PV Systems Historic Market Size by Country
8.1.1 Latin America Grid Connected PV Systems Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Grid Connected PV Systems Sales in Volume by Country (2018-2023)
8.1.3 Latin America Grid Connected PV Systems Sales in Value by Country (2018-2023)
8.2 Latin America Grid Connected PV Systems Forecasted Market Size by Country
8.2.1 Latin America Grid Connected PV Systems Sales in Volume by Country (2024-2029)
8.2.2 Latin America Grid Connected PV Systems Sales in Value by Country (2024-2029)
9 Middle East and Africa Grid Connected PV Systems by Country
9.1 Middle East and Africa Grid Connected PV Systems Historic Market Size by Country
9.1.1 Middle East and Africa Grid Connected PV Systems Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Grid Connected PV Systems Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Grid Connected PV Systems Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Grid Connected PV Systems Forecasted Market Size by Country
9.2.1 Middle East and Africa Grid Connected PV Systems Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Grid Connected PV Systems Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Canadian Solar
10.1.1 Canadian Solar Company Information
10.1.2 Canadian Solar Introduction and Business Overview
10.1.3 Canadian Solar Grid Connected PV Systems Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Canadian Solar Grid Connected PV Systems Products Offered
10.1.5 Canadian Solar Recent Development
10.2 Hanwha Group
10.2.1 Hanwha Group Company Information
10.2.2 Hanwha Group Introduction and Business Overview
10.2.3 Hanwha Group Grid Connected PV Systems Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Hanwha Group Grid Connected PV Systems Products Offered
10.2.5 Hanwha Group Recent Development
10.3 Huawei Technologies
10.3.1 Huawei Technologies Company Information
10.3.2 Huawei Technologies Introduction and Business Overview
10.3.3 Huawei Technologies Grid Connected PV Systems Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Huawei Technologies Grid Connected PV Systems Products Offered
10.3.5 Huawei Technologies Recent Development
10.4 JA SOLAR
10.4.1 JA SOLAR Company Information
10.4.2 JA SOLAR Introduction and Business Overview
10.4.3 JA SOLAR Grid Connected PV Systems Sales, Revenue and Gross Margin (2018-2023)
10.4.4 JA SOLAR Grid Connected PV Systems Products Offered
10.4.5 JA SOLAR Recent Development
10.5 JinkoSolar
10.5.1 JinkoSolar Company Information
10.5.2 JinkoSolar Introduction and Business Overview
10.5.3 JinkoSolar Grid Connected PV Systems Sales, Revenue and Gross Margin (2018-2023)
10.5.4 JinkoSolar Grid Connected PV Systems Products Offered
10.5.5 JinkoSolar Recent Development
10.6 Trina Solar
10.6.1 Trina Solar Company Information
10.6.2 Trina Solar Introduction and Business Overview
10.6.3 Trina Solar Grid Connected PV Systems Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Trina Solar Grid Connected PV Systems Products Offered
10.6.5 Trina Solar Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Grid Connected PV Systems Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Grid Connected PV Systems Industrial Chain Analysis
11.4 Grid Connected PV Systems Market Dynamics
11.4.1 Grid Connected PV Systems Industry Trends
11.4.2 Grid Connected PV Systems Market Drivers
11.4.3 Grid Connected PV Systems Market Challenges
11.4.4 Grid Connected PV Systems Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Grid Connected PV Systems Distributors
12.3 Grid Connected PV Systems Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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