Solar Panels Market Leading Countries, Companies, Drivers, Significant Growth, Analysis by Manufacturers, Challenges and Forecast 2023

07/feb/2019 10:08:09 Tejas Amale Contatta l'autore

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Global Solar Panels Market   - Competitive Landscape

Several large and small players having regional and global presence form the competitive landscape in the market. These players compete on the quality, market reach, financial resources, and pricing, whereas, innovation, brand reinforcement, and mergers & acquisitions remain the prevalent trends for the leading players operating in the global solar panels market. The market will witness fierce competition due to the expected extensions in product & service and product innovations.

Solar Panels Global Market – Overview

The increasing solar panel installations is being driven by the continuous growth in demand for renewable energy which helps in reducing greenhouse gas emissions by mitigating climate change impact to achieve COP21 target globally. Developing countries are major regions which have been forecasted to showcase substantial growth in the demand for solar energy. Government organizations across the globe are offering various subsidies and started various initiatives to its citizens and commercial sectors for the use of solar energy which is further driving the growth of the Global Solar Panel Market. The curbing of carbon emissions globally has further given rise to the demand for renewable energy sources which has influenced the environment to drive the Solar Panel Market. These factors are the major drivers for the growth of the Global Solar Panel Market globally.

The Global Solar Panel Market is expected to grow at a substantial rate during the forecast period. The demand for solar panel is growing rapidly due to increasing renewable energy consumption around the world. Crystalline PV cells are the most common solar cells used in commercially available solar panels. It is estimated that installed capacity for solar energy will approximately reach 320 GW by 2040, growing from about 98 GW in 2017 which leads the global solar panel market abruptly. Most of the developed countries like the China, Japan, Germany and U.S. are world leaders by injecting heavy investments in Solar Panel Market.

The Global Solar Panel Market has been segmented on the basis of module type, technology and application. Based on module type, the market is further segmented as crystalline, thin film, parabolic troughs, linear fresnel reflectors, power towers and parabolic dishes. Crystalline segment has been dominating the market in 2017 and is expected to remain dominant during the forecast period. Based on technology the market is segmented as Solar PV and CSP. Solar PV segment held the largest market share in 2017 and is anticipated to hold the largest market share during the forecast period. Based on application, the market is further segmented as utilities, commercial and residential. Utilities segment has been dominating the market in 2017 and is projected to remain dominant during the forecast period.

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Geographically, the Global Solar Panel Market has been segmented into North America, Europe, Asia Pacific and Rest of the World. Asia-Pacific is expected to dominate the market during the forecast period due to increasing demand of power generated from renewable energy in the region. Europe registered the second highest CAGR due to stringent regulations for carbon emissions by the government.

Solar Panel Global Market – Segmentation

The scope of global solar panel market is segmented into three major segments which are explained below:

By Module Type

  • Crystalline
  • Thin Film
  • Parabolic Troughs
  • Linear Fresnel Reflectors
  • Power Towers
  • Parabolic Dishes

By Technology

  • Solar PV
  • CSP

By Application

  • Utilities
  • Commercial
  • Residential

Solar Panel Global Market – Key Players:

Prominent players at the forefront of the market competition are

  • Canadian Solar Inc. (Canada)
  • Trina Solar Limited (China)
  • Jinko Solar Holding Co., Ltd. (China)
  • Yingli Solar (China)
  • JA Solar Holdings Co., Ltd. (China

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Industry/Innovation/Related News:

August, 2018 –  Sono Motors (Germany), maker of the self-charging electric car - The Sion, published that it is set to launch its Solar panel car to go on sale in 2019. The development is in the final stages where the company is working on the charging system for this all-electric vehicle - the Sion car, which can be charged from conventional power outlets, solar power, or other Sions. The vehicle has 330 solar cells integrated onto the hood, side doors, and roof. That means these solar panels can top up the battery while on the go.

Solar Panel Global Market – Table of Contents

  • Executive Summary
  • Introduction
  • Research Methodology
  • Market Dynamics
  • Market Factor Analysis
  • Global Solar Panels Market, By Technology
  • Global Solar Panels Market, By Module Type
  • Global Solar Panels Market, By Application
  • Solar Panels Market, By Region
  • Company Profiles

To be Continue....,

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