Solar Panels Market Size, Share Growth, Trends, Global Leaders Revenue and Forecasts Report to 2023

Solar Panels Market Highlights:-

Currently, there is a growing demand for solar panels in the residential rooftop applications. Other factors that contribute the market growth include significant fall in the prices of key components such as silver and poly-silicone that are used in the manufacturing of solar cells coupled with the gradual fall in the prices of industrial commodities used to manufacture solar panels. The rising inflation in electricity and natural gas sector in the coming decade is one of the prominent factor that will drive the growth of the Solar Panels Market in forecast period.

Solar panels also referred to as photovoltaic or PV modules is a convergent assembly of solar cells that generate and supply solar electricity for residential, commercial and industrial applications. These panels can also be used for powering individual gadgets, electronic devices, and vehicle batteries.

Industry/Innovation/Related News:

August 13, 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.

 

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Top Key Players:-

• Canadian Solar Inc. 


• Jinko Solar Holding Co., Ltd. 


• JA Solar Holdings Co., Ltd.


• SunPower Corporation 


• Hanwha Q CELLS Co., Ltd., 


• ABROS green GmbH


• Yingli Solar 


• Trina Solar Limited


• Abengoa Solar 


• eSolar, Inc. 

 

Solar Panels Global Market   - Regional Analysis

Asia-Pacific is the biggest solar power market; followed by Europe and then North America. China alone shares almost 44% of new solar PV capacity. Spain remained the global leader in existing CSP capacity, with 2.3 GW till the end of 2016, followed by the United States with just over 1.7 GW. These two countries still accounted for over 80% of global installed capacity. The rest of the world (ROW region) is comprised of Brazil, Middle East, and Israel; which are gaining attention from the major players of the PV and the CSP market considering the potential that these regions hold. Due to the developing markets such as China, India, Brazil, Canada, Germany, and France CSP technologies are expected to grow at a faster rate in future.

 

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