Solar Panels Market Research Report

 

 

Growth opportunities in the solar panels market look promising over the next six years. This is mainly due to the availability of cost-effective and more efficient materials to produce solar panels and the rising demand for electricity across the globe resulting in the active adoption of solar panels to meet the daily energy demand.

Request for a FREE Sample Report on Solar Panels Market

Solar Panels Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

One of the key drivers responsible for the growth of the global solar panel market is the surging need for electricity throughout the world, which has led to the acquisition of solar panels among consumers to meet the daily energy need. The "International Energy Agency" states that more than half of the electricity in Germany, the topmost solar power producer, is generated from solar panels, which thereby shows the significant potential of the market. In accordance with the "International Renewable Energy Agency," global energy power capacity has increased by 90GW in 2019 from 2018, which has contributed to the market growth. Moreover, developers and landowners are creating new opportunities and demand for the solar panels market. Also, all educational institutes, private and commercial buildings, and countries including India, Germany, China, and Belgium should be installed with a minimum of 5KW capacity solar panels, strengthening the solar panel market share.

The accessibility of more efficient and cost-effective materials to produce solar panels will boost the market growth. Silicon has been used extensively since the creation of solar panels, but materials like perovskites are on the verge of replacing it from the past few years. Perovskites have raised the efficiency of solar panels from 3.8% to 20%, which has further strengthened the solar panel market size. However, the huge initial cost of installing and purchasing solar panels, which includes batteries, wiring, panels etc., is hampering the solar panel market growth.

Application Segment Drivers

Based on the application, commercial application is anticipated to lead the market over the forecast period. Accelerating penetration of solar panels across hospitals, hotels, and corporate offices integrated with the increasing demand for power by data centers and communication base stations are likely to bolster the growth of the solar panel industry. Moreover, the enhanced energy yield, better panel efficiency, and module-level monitoring promote the adoption of solar panels.

Solar Panels Market’s leading Manufacturers:

·        Evergreen Solar

·        RISEN ENERGY CO., LTD

·        Canadian Solar

·        AREVA S.A.

·        JA SOLAR Technology Co., Ltd.

·        GCL-SI

·        Q CELLS

·        LONGi Solar

·        Trina Solar

·        JinkoSolar

Solar Panels Market Segmentation:

Segmentation by Cell Type:

·        Monocrystalline

·        Polycrystalline

·        Thin Film

·        Others

Segmentation by Application:

·        Residential

·        Commercial

·        Industrial

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

Comments

Post a Comment

Popular posts from this blog

Hi-Fi System Market Research Report

 Growth opportunities in the Hi-Fi system market look promising over the next six years. This is mainly due to the rising demand for portable devices such as smartphones, and laptops, the continuous technological advancement in the Hi-Fi systems, like integration of AI and machine learning, and the increasing penetration of the internet. Request for a FREE Sample Report on Hi-Fi System Market Hi-Fi System Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis) Key Drivers The augmenting demand for portable devices and the growing need for infotainment services are the crucial drivers fuelling the growth of the global Hi-Fi system market .  Rising portable device demand such as laptops, tablets, and smartphones strengthens the demand for wireless audio products in the HI-FI system market. Also, the ongoing technological developments in Hi-Fi systems, like the amalgamation of machine learning and artificial intelligence, are ...
Read more

Tight Gas Market Research Report

  Growth opportunities in the tight gas market look promising over the next six years. This is mainly due to the favourable government strategies, funds and aids for the gas production and the development of sophisticated technology. Request for a FREE Sample Report on Tight Gas Market Tight Gas Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis) Key Drivers One of the prominent drivers responsible for the growth of the global tight gas market includes the augmenting demand for million barrels each day. In accordance with the U.S. Energy Information Administration, the demand of the barrels from 2016 Q1 to 2017 Q1 augmented from 1 million in 2016 to more than 2 million in 2017, and the same trend is anticipated in the future, which will change the perspective of the market, thereby fulfilling the market demand. Also, the emergence of low-cost gas supplies from different sources will change over the chauffeurs of natura...
Read more

Vitreoretinal Surgery Devices Market Research Report

 Growth opportunities in the vitreoretinal surgery devices market look promising over the next six years. This is mainly due to the increasing technological advancements and the rise in the geriatric population coupled with the rising eye disorders. Request for a FREE Sample Report on Vitreoretinal Surgery Devices Market Vitreoretinal Surgery Devices Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis) Key Drivers The increase in the geriatric population across the world along with the surging number of eye disorders including diabetic retinopathy, detached retina, macular hole, and CMV retinitis, and the growing awareness concerned with eye health are the key drivers stimulating the growth of the global vitreoretinal surgery devices market. The use of vitreoretinal surgeries to treat various eye-related disorders, with the help of several procedures, is effective in restoring and improving vision. Furthermore, the ongoing t...
Read more