Solar Panels Market Share, Current Trends, Comprehensive Analysis and Industry Growth Report Forecast to 2023

Market Scenario

Solar panel is the panel intended to entrap the sun’s rays as a source of energy to generate electricity and heat. It diminishes the amount of electricity produced from fossil fuels by supplying the operations with clean, renewable energy from the sun. Solar panels are also called photovoltaic or PV modules as they directly transform sunlight into electricity. The sun produces enough energy daily to supply 10,000 times the current worldwide electrical needs. 

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.

  Key Players

  • SunPower Corporation  
  • eSolar, Inc. 
  • Canadian Solar Inc. 
  • Jinko Solar Holding Co., Ltd.
  • JA Solar Holdings Co., Ltd. 
  • Hanwha Q CELLS Co., Ltd.
  • ABROS green GmbH
  • Yingli Solar
  • Abengoa Solar

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Scope of the Report:

This study provides an overview of the global solar panels market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global solar panels market by its application, by module type, by technology and by regions.

By Technology

  • Solar PV
  • CSP

By Module Type

  • Parabolic Troughs
  • Linear Fresnel Reflectors
  • Power Towers
  • Parabolic Dishes
  • Crystalline
  • Thin Film

By Application

  • Residential
  • Commercial
  • Utilities

By Region

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World

Table Of Content

1 Company profiles

  • Competitive Scenario 82 
  • Competitive Landscape 82 
  • Partnerships And Collaborations. 83 
  • New Product Development. 84 
  • Expansions 85 
  • Trina Solar 86 
  • Company Overview 86 
  • Product/Service Offering 87 
  • Financial Overview 88 
  • Strategy 89 

Global Analysis:

The global solar panel market is increasing tremendously in influence of major drivers such as global environmental concerns, future energy supply security, increasing investment in clean energy, and low operating cost of a solar power plant. In the last five years (2011-2016), solar PV registered 34.1% average annual growth rate and CSP achieved 22%. Currently, the market for solar PV is bigger than CSP, mainly due to huge investment, research and development, and initiatives taken by the government. However, CSP technologies are expected to grow at a faster rate in future as new markets such as China, India, Brazil, Canada, Germany, and France open up. At the end of 2016, cumulative installed capacities of CSP and solar PV were 4.8 GW and 303 GW, respectively.

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