Solar Panels Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR70592

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The solar panels market has the potential to grow by 159.62 GW during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 16.89%.

This solar panels market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (power utilities, commercial, and residential), type (crystalline panel and thin-film panel), and geography (APAC, North America, Europe, South America, and MEA). The solar panels market report also offers information on several market vendors, including Canadian Solar Inc., First Solar Inc., Ja Solar Holdings Co. Ltd., JinkoSolar Holding Co. Ltd., Kaneka Corp., LONGi Green Energy Technology Co. Ltd., Risen Energy Co. Ltd., Trina Solar Co. Ltd., Wuxi Suntech Power Co. Ltd., and Yingli Green Energy Holding Co. Ltd. among others.

What will the Solar Panels Market Size be in 2021?

Solar-Panels-Market-Market-Size-2020-2025

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Solar Panels Market: Key Drivers and Trends

The increasing investments in the renewable energy sector is notably driving the solar panels market growth, although factors such as the intermittent nature of solar power may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the solar panels industry get your FREE report sample now.

This solar panels market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Solar Panels Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Canadian Solar Inc.
  • First Solar Inc.
  • Ja Solar Holdings Co. Ltd.
  • JinkoSolar Holding Co. Ltd.
  • Kaneka Corp.
  • LONGi Green Energy Technology Co. Ltd.
  • Risen Energy Co. Ltd.
  • Trina Solar Co. Ltd.
  • Wuxi Suntech Power Co. Ltd.
  • Yingli Green Energy Holding Co. Ltd.

 

The solar panels market is fragmented and the vendors are deploying growth strategies such as investments in innovation and R&D to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the solar panels market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Solar Panels Market?

Solar-Panels-Market-Market-Share-by-Region-2020-2025

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69% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for solar panels market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing environmental concerns, growing energy demand, supporting government regulations, and a decline in the cost of solar PV will facilitate the solar panels market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating End-user Segments in the Solar Panels Market?

Solar-Panels-Market-Market-Share-by-End-2020-2025

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The power utility sector held the largest share of the global solar panels market in 2020, and will continue to exhibit significant growth in the coming years. The installation of large-scale solar power plants to generate clean energy and reduce carbon emissions is increasing globally. Favorable solar policies and incentives to encourage solar installations are expected to propel the growth of the global solar panels market in this segment during the forecast period. China, the US, Germany, Japan, and India held the major share of the utility segment in 2020. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the solar panels market size.

 

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What are the Key Factors Covered in this Solar Panels Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive solar panels market growth during the next five years
  • Precise estimation of the solar panels market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar panels industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of solar panels market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The solar panels market growth will increase by $159.62 GW during 2020-2025.
The solar panels market is expected to grow at a CAGR of 16.89% during 2020-2025.
Technavio has segmented the solar panels market by end user (Power utilities, Commercial, and Residential) ,type (Crystalline panel and Thin-film panel) , and geographic (APAC, North America, Europe, South America, and MEA).
Canadian Solar Inc., First Solar Inc., Ja Solar Holdings Co. Ltd., JinkoSolar Holding Co. Ltd., Kaneka Corp., LONGi Green Energy Technology Co. Ltd., Risen Energy Co. Ltd., Trina Solar Co. Ltd., Wuxi Suntech Power Co. Ltd., Yingli Green Energy Holding Co. Ltd. are a few of the key vendors in the solar panels market.
APAC will register the highest growth rate of 68.63% among the other regions. Therefore, the solar panels market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the solar panels market growth are:
  • Increasing investments in renewable energy sector
  • Rise in deployment of microgrids
The solar panels market vendors should focus on grabbing business opportunities from the power utilities segment as it accounted for the largest market share in the base year.
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