China Solar Energy Market Analysis, Growth & Forecast [2031]

Segments - China Solar Energy Market by Category (Solar Photovoltaic (PV) and Concentrated Solar Power (CSP)) Application (Power Generation, and Heating) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Swapnil Hedau

Report Description

China Solar Energy Market Outlook 2031

The China Solar Energy Market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 15% during 2023–2031. The growth of the market is attributed to increasing government policies including financial subsidies and incentives. China being the largest manufacturer, installer and exporter of solar panels provides lucrative opportunities for solar energy market.

In 2020, approximately 261.1 terawatt hours of electricity had been generated from solar power in China. Solar energy refers to the radiant heat and light from the Sun that is harnessed by means of a wide range of advanced and evolving technologies such as PV, solar heating, solar architecture, solar thermal energy, molten-salt power plants and artificial photosynthesis.

The power generation industry in china includes PV power generation, which uses solar cells to directly convert solar energy into electric energy and CSP.

The COVID-19 pandemic had an unpleasant impact on the China solar energy. The new installed capacity of solar energy will eventually decline, and the growth of solar power generation will slow down. The market suffered significant loss; however, the government’s steps and strategies have helped to neutralize the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

China Solar Energy Market Trends, Drivers, Restraints, and Opportunities

Rising environmental consciousness, increasing domestic demand, and notable government policies and assistance are projected to boost the market expansion of China solar energy during the forecast period.
Increasing investments for solar power generation is likely to spur the market growth. For instances, USD 86.5 billion was invested in 2017 to add 53 GW of PV power, China is projected to generate cumulative solar power generation of 530 DW by 2025.
Declining price of solar PV plays a key role in expanding the market in near future
China divulges subsidy-free projects for new wind and solar policies. The policy was implemented to take advantage of a rapid fall in construction costs and promote environment consciousness
Scarcity of land to develop more solar panels is likely to impede the market during the forecast period.
R&D investment and technological advancement in China solar energy market are expected to offer lucrative opportunities for the market players.

Scope of China Solar Energy Market Report

The report on the China solar energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report

Attributes	Details
Report Title	Solar Energy Market - China Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Category (Solar Photovoltaic (PV) and Concentrated Solar Power (CSP)) Application (Power Generation, and Heating)
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Zhejiang Chint Electrics Co Ltd, JA SOLAR HOLDINGS CO., LTD., Hanwha SOlarOne, Ltd., Trina Solar Ltd., and Yingli Green Energy Holding Co Ltd

China Solar Energy Market Segment insights

The Solar Photovoltaic (PV) segment is projected to constitute a large market share

Based on category, the China solar power market is segregated into and Concentrated Solar Power (CSP). The Solar Photovoltaic (PV) segment is expected to account for a key share of the market during the forecast period owing to improving technological assistance, significant reduction of production cast, improvement in construction and consumption of solar power.

This further plays curtail role in developing a clean, carbon-free, safe and efficient energy system. On the other hand, Concentrated Solar Power (CSP) segment is anticipated to expand at a rapid pace during the forecast period owing to its advantages over PV by having lower investment casts, higher efficiency and thermal storage capacity.

Power generation segment is expected to register a substantial CAGR

Based on application, the China solar power market is divided into power generation, and heating. The power generation segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to rising environmental consciousness and increasing domestic demand. The key players are focused on developing effective means to produce power and sustainable energy.

Segments

The China solar power market has been segmented on the basis of:-

Applications

Power Generation
Heating

Key Companies

Zhejiang Chint Electrics Co Ltd
JA SOLAR HOLDINGS CO., LTD.
Hanwha SOlarOne, Ltd.
Trina Solar Ltd.
Yingli Green Energy Holding Co Ltd

Competitive Landscape

Key players competing in the China solar power market include Zhejiang Chint Electrics Co Ltd, JA SOLAR HOLDINGS CO., LTD., Hanwha SOlarOne, Ltd., Trina Solar Ltd., and Yingli Green Energy Holding Co Ltd.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

China Solar Energy Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar Energy Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Solar Energy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Solar Energy Market - Supply Chain
  4.5. Global Solar Energy Market Forecast
     4.5.1. Solar Energy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Solar Energy Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Solar Energy Market Absolute $ Opportunity
5. Global Solar Energy Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Solar Energy Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Solar Energy Demand Share Forecast, 2019-2026
6. North America Solar Energy Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Solar Energy Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Solar Energy Demand Share Forecast, 2019-2026
7. Latin America Solar Energy Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Solar Energy Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Solar Energy Demand Share Forecast, 2019-2026
8. Europe Solar Energy Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Solar Energy Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Solar Energy Demand Share Forecast, 2019-2026
9. Asia Pacific Solar Energy Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Solar Energy Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Solar Energy Demand Share Forecast, 2019-2026
10. Middle East & Africa Solar Energy Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Solar Energy Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Solar Energy Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Solar Energy Market: Market Share Analysis
  11.2. Solar Energy Distributors and Customers
  11.3. Solar Energy Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Zhejiang Chint Electrics Co Ltd
     11.4.2. JA SOLAR HOLDINGS CO., LTD.
     11.4.3. Hanwha SOlarOne, Ltd.
     11.4.4. Trina Solar Ltd.
     11.4.5. Yingli Green Energy Holding Co Ltd