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Global Solar Energy Panel Market Size with Growth Opportunities, Top Countries Data, Future Trends and Share with Revenue Forecast 2022 to 2031

A report on Global Solar Energy Panel Market was added by Kenneth Research which covers the market size and growth over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools. It is anticipated to grow at a significant CAGR during the forecast period. This can be attributed to the growth in the energy and power industry at a global scale.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Solar Energy Panel Market products.

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It is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.

Global Solar Energy Panel Market is $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026. A solar panel is described as silicon based layered semiconductors module which is designed to produce electricity from source of sun light. Its photovoltaic effect helps in creating the flow of electrons inside the module that is maximized by the increased hours of exposure to sunlight. The solar panel is environment friendly and helps in reducing carbon emission. It also offers commendable advantages such as reducing the amount of electricity coming from fossil fuels by providing renewable source of energy directly coming from sun and generating heating & electricity in the both commercial and residential areas. Due to such advantages of solar panels, government across the globe are offering various initiatives and tax rebates to people for installing solar panels which is driving the growth of market over the forecast years. For instance: In India 2010, Jawaharlal Nehru National Solar Mission to reduce the cost of solar power generation and install 20,000MW of grid-connected solar power via Long-term policy, Large-scale deployment goals, Research and Development and Domestic production of raw materials. Similarly, presence of Canadian Solar Energy Program in Canada initiating homeowners to install solar panels to their roofs in order to save electricity and to reduce their power bills and make it easier. Thus, such initiatives taken by government across the globe rising demand of solar panel across the globe. In addition, rising environment awareness among people and larger demand for solar energy from commercial and residential sectors is expected to propel the growth of market over the forecast years.

The regional analysis of global Solar Energy Panel market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of favorable government initiatives in the region regarding solar energy and installation of solar panels. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as growing awareness of solar energy, favorable government initiatives in installation of solar panels and rapid demand of solar panels from commercial sector in the region would create lucrative growth prospects for the Solar Energy Panel market across Asia-Pacific region.

Major market player included in this report are:
Trina Solar Limited
Canadian Solar Inc.
Jinko Solar Holding Co., Ltd.
JA Solar Holdings Co., Ltd.
Hanwha Q CELLS Co., Ltd.
ABROS green GmbH
Yingli Green Energy Holding Co Ltd
SunPower Corporation
Abengoa Solar
eSolar, Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
Photovoltaic Cells
Concentrated Solar Power System

By Module Type:
Crystalline
Tine Film
Parabolic Troughs
Linear Fresnel Reflector
Others

By Application:
Residential
Commercial
Utilities

By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2022 to 2031

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Target Audience of the Global Solar Energy Panel Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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