Solar panels offer various advantages such as they are environment friendly, help in reducing carbon emission, and minimize the amount of electricity generated from fossil fuels by offering renewable energy sourced directly from the sun. These are employed to generate electricity and for heating in both residential and commercial areas. Numerous initiatives and tax rebates offered by governments across the globe for the installation of solar panels are driving the growth of the global solar energy panel market. Growing awareness about the environment among the people and the huge demand for solar energy from the residential and commercial sectors is expected to propel the market growth in forthcoming years.
Jul 16, 2020 (Market Insight Reports) — Selbyville, Delaware, According to the research report titled ‘Global Solar Energy Panel Market Size study with COVID-19 impact, by Technology (Photovoltaic Cells and Concentrated Solar Power System), by Module Type (Crystalline, Tine Film, Parabolic Troughs, Linear Fresnel Reflector, and Others), By Application (Residential, Commercial, Utilities ) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global solar energy panel market is estimated to witness significant growth during 2020-2026.
Based on the technology spectrum, the market is segmented into a concentrated solar power system and photovoltaic cells. With regards to the module type, the solar energy panel market is fragmented into tine film, crystalline, linear fresnel reflector, parabolic troughs, and others. As per application scope, the market is categorized into utilities, commercial, and residential.
Considering the regional overview, global solar energy panel market is divided into Europe, Asia Pacific, North America, Latin America, and Rest of the World. North America held a significant market share in the recent past, due to the presence of favorable government initiatives for the installation of solar panels in this region.
Meanwhile, the Asia-Pacific market is expected to register a strong CAGR over 2020-2026, owing to rising awareness regarding solar energy. Further, supportive policies for the installation of solar panels and the growing demand for solar panels from the commercial sector are expected to create lucrative opportunities for the Asia-Pacific market.
Rest of the World
In this COVID-19 outbreak globally, this report provides 360-degree analysis from regional government policy and future influence on the industry to supply chain, import, and export control. Detailed analysis of market status (2015-2020), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2020-2025), regional industrial layout characteristics, and macroeconomic policies, industrial policy has also been included. Raw materials and end-users are scientifically analyzed. Trends in sales channels and product circulation will be presented as well. Considering COVID-19, this report provides a comprehensive and in-depth analysis of how the epidemic pushes this industry transformation and reform.
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