Staying Competitive in the Solar Panels Market :
Overview
The solar panels market will witness a healthy growth from 2015 to 2023, a research report suggests. Growing at a CAGR of 20.18%, the market is projected to reach a considerably high valuation by 2023. Increasing demand for solar-driven vehicles is expected to support the market growth along with increasing adoption of storage grids. As predicted by analysts, delay in production and supply will negatively affect the market’s performance from 2015 to 2023. During the forecast period, the market will be supported by increasing demand for solar-driven appliances and growing demand for PV installations.
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The increasing prices of raw material on the other hand will challenge renewable energy sector based organizations functioning in the global solar panels market. Analysts have split the market into technology, module type, and application segments based on products and services. Renewable energy based companies have been profiled. The rising cost of solar panels in certain places is set to affect the global market during the forecast period 2015 to 2023. The report also provides the market’s performance forecasts till 2023. Analysts have studied the strategy of renewable energy segment based organizations to help new entrants and established businesses. The renewable energy sector itself is supported by substantial demand for solar panels in residential rooftop applications as well as decline in the prices of main raw materials. During the forecast period 2015 to 2023, the solar panels market is set to witness a health growth across technology, module type, and application segments as well as regional markets.
Market Segmentation
The renewable energy sector has seen growth across technology, module type, and application segments owing to falling prices of main raw materials of solar panels and falling prices for other industrial commodities. To study the market, analysts have further segmented technology, module type, and application into Solar PV and CSP on the basis of technology. The market is further segmented into module type sub segment which is split into linear Fresnel reflectors, parabolic dishes, parabolic troughs, power towers, thin film, and crystalline. Additionally, the solar panels market on the basis of application is segmented into residential, commercial, power plants, and off-grid.
The segmental analysis presented in the solar panels market report provides renewable energy field based organizations insights into key growth factors such as rising electricity prices around the world as well as challenges such as unfavorable policies the market will face from 2015 to 2023. Cheaper solar panels and lower installation costs and decreased profitability of module manufacturers are some of the key factors having an influence on renewable energy industry based companies, suggest analysts as per the solar panels market report. But the report also identifies unfavorable regulatory environments and concerns related to material and availability as major threats companies in renewable energy will face till 2023.
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Regional Overview
Renewable energy market based companies in the solar panels market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Decline in the prices of solar panels will be a key growth driver for regional markets. However, lack of infrastructure will turn out to be a threat. For the forecast period 2015 to 2023 each of these regional markets are studied in the report.
Starting from North America, the regional market and renewable energy vertical based companies are spread across the United States, Canada, and Mexico. High deployment cost will turn out to be a major challenge from 2015 to 2023. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing spending power of consumers as well as the rise in distribution channels, suggests the report. Similarly, the renewable energy sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the solar panels market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2023.
Competitive Landscape
The global solar panels market research report brings a comprehensive study of technology, module type, and application market segments, regional analysis, and renewable energy vertical based company details of key players. As the forecast period 2015 to 2023 will bring new opportunities for the market owing to the growing demand from companies across many industries and the rising developments in industrialization, the market is set to grow at a compound annual growth rate of 20.18% and is predicted to reach a considerably high valuation by 2023. With SWOT analysis of renewable energy sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as low output related concerns and high initial investments, companies in the renewable energy sector can change the way business is done.
Industry News
Fourth Wave, a home energy technology provider, has announced intentions to purchase DeSol Power Tiles, a solar tile company, as part of its ongoing growth in the residential solar market, leveraging its public status and aiming to bolster the company's business and volatile stock price. We previously covered Fourth Wave when they announced their reverse merger with Pierre Corp in order to achieve net zero residential houses. This DelSol purchase is intriguing; it would be fascinating to see how the pro-forma feels. DeSol Power Tiles solar tile roofs will be manufactured, marketed, and distributed across North America by the company.
