The rapidly increasing use of renewable energy systems for commercial
and residential applications coupled with low costs and efficiency of
these systems are the major factors driving the global solar PV market.
Furthermore, the rising cost of electricity in various countries is also
a factor propelling the solar PV market. Solar PV is a technology which
consists PV modules made up of semiconductor materials. These
semiconductors absorb the heat from solar rays and converts it into
electric current.
The solar PV technology is one of the fastest growing technology of
renewable energy source. It is expected that the solar PV market
attribute a double digit CAGR over the forecast period. The reduced cost
of PV module globally is a direct consequence of the rise in the PV
demand and production. The global solar PV market is segmented on the
basis of application into utility application, residential application
and commercial application. The residential applications generally
composed of roof top solar PV assembly.
Browse Detail Report With TOC @http://www.hexaresearch.com/research-report/solar-pv-industry/
The solar PV in commercial and non-residential application are
installed in the areas which are exposed to the sun so that the power
generated can be used during peak hours. The utility scale solar PV are
also used to generate power that is fed into the grid system so that it
can be transmitted additionally to the conventional power source. As of
2013, the utility scale application attributed the largest share in the
market. The key reason for the growth of this segment is the regulatory
support delivered by the government in the countries such as China and
India. As of 2012, the residential segment for installation of PV is
accounted for approximately one fourth of the PV installed globally.
This segment is also expected to witness lucrative growth over the
forecast period due to the rising electricity costs.
The overall solar PV market on the basis of regions is segmented into
North America, Asia Pacific, Europe and RoW. As of 2012, Europe
attributed the largest share in the market owing to the high use of
renewable energy sources in this region. Asia Pacific is expected to
gain the largest market share in terms of revenue due to the rapid
industrialization in this region. The prices of PV modules are
constantly decreasing in various countries such as India, Australia and
Japan. It is the factor expected to propel the growth of the solar PV
market in this region over the forecast period. North America is
considered as the third largest regional segment in the solar PV market
owing to the large installation base of PV modules in this region.
Request A Sample copy of This Report @ http://www.hexaresearch.com/sample/226
Some of the key players in the global solar PV market include First
Solar, Sun Power, Sharp, Yingli Green Energy, Trina Solar, Canadian
Solar and Suntech Power. The First Solar and Yingli Green Energy are the
largest companies in the solar PV market and together covers over 10%
of the market share. All these market players are creating competitive
strategies such as collaborations, expansions and acquisitions to
maintain a strong hold in the global solar PV market. Various countries
lying in the Sunbelt such as the Middle East and Latin America are
expected to witness lucrative growth rate in the global solar PV market.
Large solar PV manufacturers such as Sun Power and First Solar have
made collaborations for entering into the Chinese solar PV market. These
are also the factors which are expected to further boost the solar PV
market.
Browse Full Report @http://www.hexaresearch.com/research-report/solar-pv-industry/
About Us:
Hexa Research is a market research and consulting organization,
offering industry reports, custom research and consulting services to a
host of key industries across the globe. We offer comprehensive business
intelligence in the form of industry reports which help our clients
obtain clarity about their business environment and enable them to
undertake strategic growth initiatives.
Contact Us:
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com
Website - http://www.hexaresearch.com/
Visit our Blog: http://hexaresearchinc.blogspot.com/
No comments:
Post a Comment