Solar Panels Market Trends, Share, Industry Size, Growth, Opportunities and Forecast 2018-2023
Market Highlights The solar panel market is driven by various factors such as increase in solar systems installations and generous government initiatives and policies that support solar energy generation. This is mainly because, solar panel power generation is less polluting and produces less carbon emissions when compared with traditional conventional energy sources such as coal, oil and petroleum. Solar power generation is helping in the fight against climate change as well as it is acting as a source of power for remote and off grid areas where still millions of global population lives. However, the growth of the market can be hindered by the low power generation capacity of the solar panels and increasing stringent regulations on the land used for solar power generation sites. Solar panels market is expected to grow with the CAGR of approximately 20.18% during the forecast period. 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. Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/3237 Prominent Players Trina Solar Limited (China), Canadian Solar Inc. (Canada), Jinko Solar Holding Co., Ltd. (China), JA Solar Holdings Co., Ltd. (China), and Yingli Solar (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of the competition in the Global Solar Panels Market. Competitive Analysis Characterized by the presence of several well-established and small players, the global Market of Solar Panels appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Industry/Innovation/Related News: