The Global Solar Photovoltaic Panel Manufacturing Market Report by The Business Research Company covers solar photovoltaic panel manufacturing market drivers and restraints, solar photovoltaic panel manufacturing market size, major players, and the impact of COVID-19 on the solar photovoltaic panel manufacturing market.
The solar photovoltaic panel manufacturing market consists of sales of solar photovoltaic panels for residential or commercial purposes. Photovoltaics (PV) is the technology for converting sunlight into electricity by using semiconductors which are present in PV cells. These PV cells are interconnected to form an array and are mounted to a frame. When the PV cells receives the sun rays, the electrons in the semiconductors are released and their movement generates an electric current. These PV cells are packaged behind glass to form photovoltaic modules with an average service life of 20-40 years.
Favourable government initiatives such as tax subsidies and huge investments favours the growth of the solar photovoltaic panel manufacturing market. In India, MNRE (Ministry of New and Renewable Energy – Central Government) has set the target to achieve 227 Gigawatts (22,70,00,000 kilowatt) of electricity production from solar PV cells by 31 March 2022. To achieve this target, the Indian government is promoting solar PV cell production through huge investments and policies that influence the solar PV panel manufacturing market directly or indirectly.
The global solar photovoltaic panel manufacturing market is expected to grow from $164.52 billion in 2020 to $180.76 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The solar photovoltaic panel manufacturing market is expected to reach $298.56 billion in 2025 at a CAGR of 13.4%.
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Some solar photovoltaic panel manufacturing market trends include focus on improving the rate of power production from the panels. Photovoltaic manufacturers are shifting towards monocrystalline cell technology from the more common multi crystalline cells and modules is a prominent trend faced by the solar photovoltaic panel manufacturing industry. These cells form the building block of photovoltaic panels. Monocrystalline panels have a high-power output, occupy less space, and last long because of the formation of cells in these panels allows more freedom for the electrons to move, resulting in a higher efficiency compared to multi crystalline cells. Many large-developers of solar photovoltaic panels manufacturing market have already increased their production of monocrystalline panels.
Global solar photovoltaic panel manufacturing market segments include:
1) By Technology: Thin Film, Crystalline Silicon, Others (Organic and Concentrator Photovoltaics).
2) By End-Use: Residential, Commercial, Utility-Scale.
3) By Grid Type: Grid Connected, Off-Grid.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Solar Photovoltaic Panel Manufacturing Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides solar photovoltaic panel manufacturing market overviews, analyzes and forecasts market size, share, solar photovoltaic panel manufacturing market players, solar photovoltaic panel manufacturing market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The solar photovoltaic panel manufacturing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Solar Photovoltaic Panel Manufacturing Global Market Report 2021: COVID-19 Growth And Change To 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Trina, Canadian Solar, Jinko, Hanwha Q-Cell, SunPower, Panasonic Corporation, Q.ANTUM technology, Mitsubishi Electric, Suntech Power Holding Co. Ltd., Vikram Solar, JS Solar, First Solar, LG Energy, Kyocera Corporation, Luxen Solar Energy , TPL Solar , SunLink PV , JA Solar, Eco Delta , REC Solar , Suntech.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The solar photovoltaic panel manufacturing Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The solar photovoltaic panel manufacturing Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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