Global Solar Panels Market 2015-2019
About Solar Panel
A solar panel (also known as PV module) is a collection of solar cells carved from silicon wafers that generate electricity by capturing the sunlight. There are two types of solar cells: Crystalline silicon and thin-film. Thin-film cells can be deposited as thin layers that measure less than 1 micron. These cells are less expensive compared with silicon. These cells help manufacturers build solar panels of different sizes and shapes depending on the requirement of the consumers.
TechNavio's analysts forecast the Global Solar Panel market to grow at a CAGR of 11.8 percent over the period 2014-2019.
Covered in this Report
The Global Solar Panel market has been segmented into three divisions: Types, End-users, and Geography.
TechNavio's report, Global Solar Panel Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Solar Panel market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Global Solar Panels Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Solar Panels Market: Canadian Solar Inc., First Solar Inc., JinkoSolar Co. Ltd., Sharp Corp., Suntech Power Holdings Co. Ltd., Trina Solar Ltd. and Yingli Green Energy Holding Co. Ltd
Other Prominent Vendors in the market are: Bosch Solar Energy, Hanwha SolarOne, JA Solar Holdings, LDK Solar, Panasonic and SolarWorld.
Commenting on the report, an analyst from TechNavio’s team said: “One key trend emerging in this market is the increase in solar energy storage facilities. Development of these facilities influences many vendors to invest more in solar energy projects as this energy can be used during power outages.”
According to the report, increased solar energy consumption is one of the key drivers, which is expected to elevate the demand for solar panels during the forecast period. Increased awareness of the benefits of solar energy has resulted in higher production of solar panels. Moreover, the increased costs of fossil fuels have also led to increased investment in solar power.
Further, the report states that low conversion efficiency is one of the key challenges that the market faces. The energy conversion rate from solar panels is low, which affects the overall power generation of any solar power plant. With low energy generation, the profit margin of the operator will decline, which will discourage further investment in the industry.Canadian Solar , First Solar , Jinko Solar, Sharp , Suntech Power Holdings , Trina Solar , Yingli Green Energy Holding , Bosch Solar Energy, Hanwha SolarOne, JA Solar Holdings, LDK Solar, Panasonic, SolarWorld