A solar panel is defined as a silicon-based layered semiconductor module that can produce electricity from sunlight. Market Research Future (MRFR) has published a research report about the Global Solar Panels Market that anticipates massive raise for this market at 20.18% CAGR (Compound Annual Growth Rate) during the forecast period between 2018 and 2023.
The imperative factors responsible for the growth of the Global Solar Panels Market are the increase in solar systems installations, generous government initiatives, and policies that support solar energy generation. Other factors supporting the market growth are future energy supply security, increasing investment in clean energy, and low operating cost of a solar power plant. Demand and hence, the market for solar panels is increasing due to the growing awareness about solar panel power generation being less polluting and producing fewer carbon emissions. However, the growth of the market can be hampered by increasingly stringent regulations on the land used for solar power generation sites and the low power generation capacity of the solar panels.
Latest Industry News
On the Alps mountains, solar panels are being set up to increase the power production and compensate for projected energy shortfalls in Switzerland.
Clifton Park town Planning Board has approved a 7-megawatt solar array for Sugar Hill. Proposed by Solitude Solar, this project will consist of approximately 20,000 panels positioned on 40 acres of land.
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Global Solar Panels Market – Segmentation
The Global Solar Panels Market can be segmented on the basis of Application, Module Type, Technology, and lastly, Region.
- Linear Fresnel reflectors
- Parabolic dishes
- Parabolic troughs
- Power towers
- Thin film
- Concentrated solar power (CSP)
- Solar photovoltaic (PV)
- North America
- Rest-of-the-World (RoW)
Global Solar Panels Market – Competitive Landscape
Several large and small players having regional and global presence form the competitive landscape in the market. These players compete on the quality, market reach, financial resources, and pricing, whereas, innovation, brand reinforcement, and mergers & acquisitions remain the prevalent trends for the leading players operating in the global solar panels market. The market will witness fierce competition due to the expected extensions in product & service and product innovations.
The key players in the global solar panels market include
- Abengoa Solar
- ABROS green GmbH
- Canadian Solar Inc.
- eSolar Inc.
- Hanwha Q CELLS Co. Ltd.
- JA Solar Holdings Co. Ltd.
- Jinko Solar Holding Co., Ltd.
- SunPower Corporation
- Trina Solar Limited
- Yingli Solar
Browse The Full Research Report At@ https://www.marketresearchfuture.com/reports/solar-panels-market-3237
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