Kenneth Research offers 2018 report on Global Solar Panel Market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends, Top Key Players and forecasts for the period 2018-2027.
Solar Panel Market Overview
Solar panel refers to the devices and component which helps to harness the solar energy from sun. Solar panel is environment friendly and helps in reducing carbon emission. Moreover, solar panel is increasingly being used by the developed nations to fight against climate changes. The core advantage of solar panel is that it reduces the amount of electricity coming from fossil fuels by providing renewable source of energy directly coming from sun. It generates heating and electricity in both commercial and residential areas. These are photovoltaic cell that produces electricity with sunlight. Solar Panel continuously generates electricity as long as a source of light is abounding. It does not burn fuel, thus helps to make the process quiet, pollution-free and two to three times more efficient as compared to combustion technologies.
Trina Solar, Hanwha Q, JA Solar, General Electric, SolarWorld Industries GmbH, Indosolar, SCHNEIDER ELECTRIC, ABB Group, SunPower Corporation, First Solar Inc., etc.
Market Size and Forecast
The global Solar Panel Market Is Expected To Expand At A Significant CAGR Of 26.3% During The Forecast Period Of 2018-2027. Solar panel market has been segmented into product type such as, polycrystalline, mono-crystalline and thin-film of solar panels. Poly-crystalline panels accounted for the largest share of the global solar panel market in 2017. This can be recognized for its wide range of applications for Poly-crystalline and high competence coupled with the affordable price range. The mono-crystalline segment is anticipated to register significant growth within the forecast period owing to their technological advancement and their commendable efficiency. Solar panels are photovoltaic that produce electricity with sunlight. Solar Panel continuously generates electricity as long as a source of light is supplied. Solar Panel does not burn fuel, helping to make the process quiet, pollution-free and around two to three times more efficient than combustion technologies.
Globally, North-America is projected to dominate the overall solar panel market during the forecast period. Increasing penetration of advanced and as well as variety of solar panels and its products in the region is expected to positively impact the growth of solar panel market in future. Rising environmental and energy saving awareness is anticipated to drive the growth of solar panel market. Further, the favorable government regulations and policies are expected to expand the global solar panel market. Furthermore, Government regulation came into existence to harness solar panel and has become an energy liberation in appealing and creating awareness among population to implement solar panel change. Moreover, the first commercial use of solar panel was done for powering satellites by North America.
Europe solar panel market is rising due to the increasing environmental concerns among people and demand for solar panel in the residential rooftop. Moreover, advancement and availability of wide number of efficient solar panel region is fostering the growth of solar panels. Further, Germany, Italy and Spain are expected to account for the largest share of revenue by 2027 in the region. The solar panel market in Asia-Pacific region is projected to benefit from rapid urbanization and rising demand for clean energy solar panel. Moreover, presence of large number of players in China is anticipated to strengthen the growth of the solar panel market in China. Besides this, Middle East and Africa solar panel market is anticipated to showcase significant growth during the forecast period. According to International Energy Agency, more than 45% of Middle East geographic area has excellent aptness for binding solar energy.
Overview of the Parent Market
The global solar panel market is segmented as follows:
By Applications Market Size & Y-O-Y Growth Analysis
By End-User Market Size & Y-O-Y Growth Analysis
By Region Market Size & Y-O-Y Growth Analysis
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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