Overview Solar Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast

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Kanika Sharma
IMARC Group USA: +1-631-791-1145 Email: sales@imar
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Phone:1-631-791-1145
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This represents a major factor facilitating the growth of the global solar panels market.

The latest report by IMARC Group titled, “Solar Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that theglobal solar panel market reached a volume of 98.8 GW in 2017, growing at a CAGR of 31% during 2010-2017. Solar energy can be harnessed in any part of the world and represents a sustainable energy source. A solar panel converts this energy into usable electricity which can be further used for various purposes. An efficient and unconventional source of electricity, it is an ideal solution for curbing environment issues like global warming and greenhouse gas emissions.

Request For a Sample Report: https://www.imarcgroup.com/request?type=report&id=372&flag=B

Highlights of the global solar panel market:

Governments of various countries are encouraging the use of solar panels which remains a significant market driver.
Crystal silicon solar panels dominate the market, accounting for the majority of the shares.
Asia Pacific represents the largest market for solar panels.

Solar panels produce clean energy and have the potential to minimize collective dependence on fossil fuels and reduce carbon footprints. This has created a demand for these systems across the globe. Unlike the conventional sources of energy, solar panels do not release any harmful air or water pollution in the environment which can endanger human or animal health. As a result of this, governments of various nations are encouraging their use by creating awareness and providing incentives for solar energy projects. This has also encouraged investors to explore the solar energy market. The decline in the cost of solar power generation over the years has also led to an expansion in its applications. According to the report, the market is expected to continue growing robustly during the next five years.

On the basis of product type, the market is segmented into crystal silicon and thin film, wherein the crystal silicon panels dominate the market. Major end-use sectors of solar panels include commercial, residential, and industrial. Region-wise, Asia Pacific accounts for the majority of the total share, representing the largest market. This can be attributed to the easy availability of cheap labour and immense support provided by the government in the form of tax credits. Other major regions are North America, Europe, Middle East & Africa and Latin America.

Full Toc report: https://www.imarcgroup.com/solar-panel-market

The report by IMARC Group has examined the global solar panel market on the basis of:

Product type:
Crystal silicon
Thin film

End-use:
Commercial sector
Residential sector
Industrial sector

Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Browse Related Report:
Microgrid Market: https://www.imarcgroup.com/microgrid-market

Biomass Gasification market: https://www.imarcgroup.com/biomass-gasification-plant

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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USA: +1-631-791-1145
Email: sales@imarcgroup.com
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