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Solar Panel Market : Size, Share, Development, Growth & Demand Forecast To 2018-2023

Press Release   •   Jun 01, 2018 10:32 IST

Bharat Book Bureau Provides the Trending Market Research Report on “Solar Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”under Heavy Industry category. 

The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.Solar panel, also known as a PV panel, refers to a device which employs natural sunlight to generate electricity. It is made of several solar cells that are manufactured using silicon, boron and phosphorus. A single panel can only generate limited power supply; therefore, most installations incorporate multiple modules. Solar panel systems also consist of an inverter, battery for storage purposes, interconnecting wires, etc. They are comparatively less expensive and can provide electric power for more than three decades, if maintained well. Solar Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global solar panel market reached a volume of 98.8 GW in 2017, growing at a CAGR of around 31% during 2010-2017.

One of the primary factors catalysing the growth of the global solar panel market is the environment friendly nature of these panels as they do not emit any harmful gases or exhaust any fossil fuels. This helps in the reduction of carbon footprints as well as improves energy efficiency. Moreover, the governments in various emerging regions are providing tax relaxations and conducting several awareness campaigns to encourage the installation of solar panels. This acts as another factor facilitating the demand for solar panels. In addition, the market is further propelled by the surging demand for electricity and rising cost of its production. On account of these factors, the global solar panel market is projected to continue its growth trajectory during the upcoming years.

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Market Summary:

Based on type, the market has been segregated as crystal silicon and thin film solar panels. Currently, crystal silicon solar panels dominate the market, holding the largest share.

On the basis of end-use, the commercial sector represents the largest segment of solar panels, followed by the residential and industrial sectors.

Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Amongst these, Asia Pacific is the leading market, accounting for the majority of the global share.

The competitive landscape of the market has also been examined with some of the key players being JinkoSolar, Trina Solar, Canadian Solar, JA Solar, Hanwha Q-CELLS, GCL-SI, LONGi Solar, Risen Energy, Shunfeng and Yingli Green.

This report provides a deep insight into the global solar panel industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a solar panel manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the solar panel industry in any manner.

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