Solar Photovoltaic (PV) Panels Market :Opportunity Analysis and Forecast, 2017-2023
According to a new report published by Allied Market
Research, titled, "Solar Photovoltaic (PV) Panels Market by
Technology, Grid-Type and End-Use: Global Opportunity Analysis and Industry
Forecast, 2017-2023" the solar photovoltaic panels
market was valued at $118,704 million in 2016, and is projected to reach
$307,204 million by 2023, growing at a CAGR of 15.0% from 2017 to 2023. The
crystalline silicon solar photovoltaic segment accounted for maximum share of
total market share in 2016.
Solar photovoltaics
are electronic devices that convert sunlight directly into electricity. Solar
cells are tightly packed behind a glass sheet to protect them from the
environment. Photovoltaic cells are internally connected together to form a
photovoltaic module. The number of cells that are interconnected are dependent
on the type of application. The solar trackers are deployed efficiently on the
solar panel to improve the efficiency of the solar cell. The efficiency is
improved by approximately 20% in winters and 50% in summers by deployment of
solar tracker.
For sample @ https://www.alliedmarketresearch.com/request-sample/191
At present, the global solar photovoltaic panels market
witnesses numerous opportunities, owing to rapid increase in development of
renewable power in Asia-Pacific and LAMEA to cope up with the increase in
electricity demand. In addition, the market is driven by domestic content laws
and rise in photovoltaic panel installation projects owing to expiration of
federal investment tax credit (ITC). Moreover, in the developed economies such
as the U.S., solar photovoltaic has proved to be an economic alternative at the
time of peak power needs.
In addition, the success of distributed solar and rapidly
reducing cost has led some U.S. utilities to establish their own solar
installations such as residential and community projects. However, high panel
installation cost hinders the market growth. But the ongoing developments leads
to improved technology and efficiency as the quantity of material being
deployed in solar cells has reduced initial costs.
The crystalline
silicon solar photovoltaic segment accounted for the maximum share, in terms of
volume, in 2016. Moreover, this segment witnesses strong demand in countries
such as China and Japan owing to the strong development of the residential
rooftop segment and increased demand for high-efficiency products. In addition,
monocrystalline technology is expected to witness strong growth owing to
technological advancements and greater solar efficiency.
For purchase enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/191
Key Findings of the
Solar Photovoltaic (PV) Panels Market:
- In terms of value, the mono-crystalline
solar photovoltaic segment is anticipated to exhibit the highest growth
rate of 15.9% during the analysis period.
- Asia-Pacific is anticipated to lead the
market in 2023, and is projected to grow with a CAGR of 19.5%, in terms of
value.
- The utility scale type segment occupied
nearly half of the total market in 2016.
- Brazil occupied nearly half of the total
LAMEA solar photovoltaic panels market in 2016.
- In terms of value, Japan is expected to
grow at a CAGR of 19.1% from 2017 to 2023.
In 2016, Europe
accounted for nearly half of the total solar photovoltaic panels market, and is
expected to continue this trend, owing to rapid solar photovoltaic
installations, specifically in China, India, Japan, and the other developing
countries.
The major companies
profiled in the report include:
·
Suntech Power
Holding Co. Ltd.,
·
Sun Power
Corporation,
·
First Solar Inc.,
·
Yingli Green Energy Holding Co. Ltd.,
·
Canadian Solar Inc.,
·
Schott Solar Ag.,
·
Sharp Corporation,
·
Solar World Ag,
·
Jinko Solar Holding Company Ltd. Corporation,
·
Trina Solar Ltd.
For detailed COVID-19 impact analysis on this
market @ https://www.alliedmarketresearch.com/request-for-customization/191?reqfor=covid
About us:
Allied Market Research (AMR) is a full-service market
research and business-consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market Research provides global enterprises as well as
medium and small businesses with unmatched quality of "Market Research
Reports" and "Business Intelligence Solutions." AMR has a
targeted view to provide business insights and consulting to assist its clients
to make strategic business decisions and achieve sustainable growth in their
respective market domain.
We are in professional corporate relations with various
companies and this helps us in digging out market data that helps us generate
accurate research data tables and confirms utmost accuracy in our market
forecasting. Each and every data presented in the reports published by us is
extracted through primary interviews with top officials from leading companies
of domain concerned. Our secondary data procurement methodology includes deep
online and offline research and discussion with knowledgeable professionals and
analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Comments
Post a Comment