Global Solar Panel Market
Global Solar Panel Market
Dublin, Dec. 28, 2022 (GLOBE NEWSWIRE) — The “Solar Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added. ResearchAndMarkets.com offer.
The size of the global solar panel market reached 177.7 GW in 2021. Looking ahead, the publisher expects the market to reach 536.9 GW by 2027, exhibiting a CAGR of 20.24% over 2021-2027.
Given the uncertainties of COVID-19, we are continuously monitoring and evaluating the direct and indirect impact of the pandemic on various end-use sectors. These insights are included in the report as a key market contribution.
A solar panel, also known as a PV panel, is a collection of solar (or photovoltaic) cells that use natural sunlight to produce electricity. It is made of several solar cells made using silicon, boron and phosphor arranged in a grid pattern on the surface.
The use of solar panels has increased all over the world because they do not cause any pollution and their installation helps to combat harmful emissions of greenhouse gases. Also, innovations in quantum physics and nanotechnology are predicted to potentially increase efficiency.
Solar panels provide clean as well as renewable energy and help reduce the amount of electricity produced from fossil fuels. Due to this, governments in various developing regions are providing tax incentives and conducting a series of awareness campaigns to encourage their installation.
For example, the Ministry of New and Renewable Energy (MNRE) of the Government of India is promoting the installation of solar PV systems in the country under the Jawaharlal Nehru National Solar Mission. In addition, ultra-thin solar panels have been developed that are lighter and more flexible than glass-based options.
They are superior to conventional solar panels in terms of efficiency and cost-effectiveness. They can also be integrated into almost any surface, which will further increase their applicability in various sectors.
The story continues
Number of pages
2021 – 2027
Estimated market value in 2021
Projected market value by 2027
Compound annual growth rate
Key market segmentation:
The publisher provides an analysis of key trends in each sub-segment of the global solar panel market report, along with forecasts at a global and regional level for the period 2022-2027. Our report has categorized the market by type and end-use.
Breakdown by type:
Based on type, crystalline silicon solar panels currently represent the most popular type, as they have laboratory energy conversion efficiencies of over 25% for monocrystalline cells and over 20% for polycrystalline cells.
Breakdown by end use:
Among these, the commercial sector represents the largest end-use segment accounting for the majority of the global market share.
Middle East and Africa
On the geographic front, Asia Pacific has a market leadership position in the region due to the use of solar panels to improve reliability and address chronic energy shortages.
The report analyzes the competitive landscape of the market along with detailed profiles of the key manufacturers in the market.
Some of the leading players are:
Key Questions Answered in This Report:
How has the global solar panel market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global solar panel industry?
What are the major regional markets in the global solar panel industry?
What are the few end-use segments of the global solar panel industry?
What are the main product types in the global solar panel industry?
What are the price trends for solar panels?
What are the different stages of the value chain of the global solar panel industry?
What are the major drivers and challenges in the global solar panel industry?
What Is The Structure Of The Global Solar Panels Industry And Who Are The Key Players?
How competitive is the global solar panel industry?
What are the profit margins in the global solar panel industry?
What are the basic requirements for setting up a solar panel manufacturing plant?
How are solar panels manufactured?
What are the various departmental operations performed in a solar panel manufacturing plant?
What is the total land area required to set up a solar panel manufacturing plant?
What are the machinery requirements for setting up a solar panel manufacturing plant?
What are the raw material requirements for setting up a solar panel manufacturing plant?
What are the packaging requirements for solar panels?
What are the shipping requirements for solar panels?
What are the utility requirements for setting up a solar panel manufacturing plant?
What are the manpower requirements for setting up a solar panel manufacturing plant?
What are the infrastructure costs to build a solar panel manufacturing plant?
What are the capital costs of building a solar panel manufacturing plant?
What are the operating costs of setting up a solar panel manufacturing plant?
What will be the income and expenses of a factory producing solar panels?
How long does it take to do no harm?
For more information on this report, visit https://www.researchandmarkets.com/r/dvelou
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] EST Office Hours Call 1-917-300-0470 US/CAN Toll Free 1-800-526-8630 GMT Office Hours Call + 353 -1-416-8900