According to the research report titled ‘Global Solar PV Module Market Size study with COVID Impact, By Technology (Thin Film, Crystalline Silicon), By Product (Monocrystalline, Polycrystalline, Cadmium Telluride (cdte), Amorphous Silicon (A-Si), Copper Indium Gallium Di-selenide (CIGS)), By Connectivity (On-Grid, Off-Grid), By Mounting (Ground Mounted, Roof-Top), By End-Use (Residential, Commercial, Utility) and Regional Forecasts 2020-2027’ available with Market Study Report, global solar PV module market is expected to showcase stellar growth during the period of 2020-2027.  
 

Industry experts claim that decreasing prices of solar components coupled with escalating demand for clean energy sources are augmenting the growth of global solar PV module market. As per the C2ES (Center for Climate and Energy Solutions), renewable energy generation in the United States was recorded at 11% in the year 2017 and is anticipated to witness a 48% increase through 2050.
 

Additionally, availability of favorable government initiatives which consist of net metering, subsidies, and tariff feed are positively swaying the global solar PV module market dynamics. However, lack of adequate grid infrastructure is expected to hinder the industry expansion throughout the analysis timeframe.
 

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Based on technology type, the market is split into crystalline silicon and thin film. With regards to product, the market is divided into copper indium gallium di-selenide (CIGS), amorphous silicon (A-Si), cadmium telluride (CDTE), polycrystalline, and monocrystalline.
 

Moving on to connectivity type, global solar PV module industry is bifurcated into off-grid and on-grid. Speaking of mounting, the market is segmented into roof-top and ground mounted. Elaborating on the end-user terrain, the industry comprises of utility, commercial, and residential segments.
 

From a regional frame of reference, Europe held the largest market share and is expected to witness similar growth trends in the forthcoming years, trailed by Asia-Pacific and North America. Increasing deployment of solar photovoltaics in China and India owing to availability of favorable reimbursement and incentive policies are facilitating the business scenario in Asia-Pacific.
 

Moreover, Latin America and Middle East & Africa are also predicted to develop as a major revenue generator for global solar PV module industry during the forecast period. Growing demand for solar photovoltaics from Latin America and abundance of solar resources in Africa are favoring the market outlook.
 

The organizations that define the global solar PV module industry trends are Indosolar Limited, Lanco Solar Energy Private Limited, Risen Energy Co. Ltd., Vikram Solar Limited, SunPower Corporation, ReneSola Ltd., Shunfeng International Clean Energy Limited (SFCE), Yingli Solar, First Solar Inc., JinkoSolar Holding Company Limited, JA Solar Holdings Co. Ltd., Canadian Solar Inc., and Trina Solar Co. Ltd. among others.