A solar panel is set of solar PV modules connected electrically. A PV module is an interconnected collection of solar cells. Solar PV modules are mounted on a supporting structure. Solar energy is one of the best alternative renewable sources of energy with least maintenance and operation costs. Solar radiation is trapped and converted to electricity via solar panels.
The overall market has been segmented on the basis of products (mono-crystalline, polycrystalline, and hybrid solar panels), end users, as well as on a geographical basis to provide a holistic picture of the market. The global energy demand driven by the increasing need of renewable technological developments, falling cost of solar panels and favorable government policy is expected to boost the growth of solar panels market. However, global oversupply of production capacity within the industry is expected to hamper the growth of this market.
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Presently North America account for the highest demand of solar panels. The demand in these regions is primarily driven by governmental support in the form of research and development activities of solar energy. In Asia Pacific, China is expected to drive the growth of this market in near future on account of more stable pricing environment and burgeoning industrial and population growth requiring increasing levels of energy output. In addition, minimizing the reliance on fossil fuel and focusing more on a renewable energy like solar is expected to open new opportunities of growth in the market.
Some of the leading solar panel manufacturers include Yingli Green Energy, 1st Sunergy, Aqua solar, Auxin Solar, Green Power, GlobalWatt, Innergy Power, ReneSola, DM Solar, and Everbright Solar among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
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- It helps in understanding the key product segments and their future
· It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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