Solar Panel Market
Solar Panel Market Global Industry Assessment & Forecast
#
Pages:
145
2021
Nov - 2021
VMR-2021-0863
Segments Covered
By
Product Mono-crystalline Solar Panel, Poly-crystalline Solar Panel, Thin-film Solar Panel
-
By
Application Residential, Commercial, Utility
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
54.32 Billion |
 Revenue 2028:
|
209.36 Billion |
 Revenue CAGR
(2021 - 2028): |
18.37 |
Fastest Growing Region (2022 -
2028)
|
North America |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Research Methodology: Solar Panel Market - Global Market Assessment, 2021 - 2028
We at Vantage Market Research, employ comprehensive methodology for each market study, and Solar Panel Market is not an exception. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. We were connected with more than 145 primary respondents adequately distributed across the five regions to procure required Solar Panel market-related information.
Secondary Research
Primary Research:
The next stage involves the primary research conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills the following data requirements
Data Triangulation and Market Size Estimations
At the later stage and after procuring data from secondary and primary research, top-down and bottom-up approaches are used to validate and estimate the market size of the Solar Panel market. After the determination of the overall market size, the market is divided into various segments and sub-segments. The data was triangulated by employing various data models and statistical techniques to arrive at exact statistics and also considering key market trends from supply as well as the demand side of the market.
FAQ
Frequently Asked Question
What is the global demand for Solar Panel in terms of revenue?
-
The global Solar Panel valued at 54.32 Billion in 2020 and is expected to reach 209.36 Billion in 2028 growing at a CAGR of 18.37%.
Which are the prominent players in the market?
-
The prominent players in the market are CETC Solar Energy Holdings Co Ltd, SCHMID Group, Yingkou Jinchen Machinery Co Ltd, Jinko Solar, Oerlikon Solar, Manz AG, Spire Corporation, JASolar, S-Energy, CSI, Kyocera, Ulvac Solar, Toshiba, AXITEC, Aleo Solar, Hanwha Solar One, Mitsubishi Electric, Panasonic Corporation (Sanyo), Yingli Green Energy, SunPower, Ecoprogetti, Luxor Solar, Trina Solar, First Solar, Renesola, Conergy, IBC Solar, Sharp Solar..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 18.37% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Solar Panel include
- The decrease in prices of solar modules coupled with increase in legislative and financial initiatives is expected to fuel the growth of the solar panel market in the years to come.
- The increase in R&D in solar cell technologies and development of solar storage systems along with supportive government initiatives is further expected to fuel the growth of the market in the estimated timeframe.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Solar Panel in 2020.
