The Solar Panel market in the APAC region to grow at a CAGR of 11.5% over the period 2014-2019
A solar panel (also called a PV module) is a collection of solar cells engraved from silicon wafers that generates electricity by capturing the sunlight.
Solar panel systems include solar PV inverters, which connect numerous solar panels to a power grid to ensure improved efficiency and increased reliability in the grid. There are two types of solar cells: crystalline silicon and thin-film. Thin-film cells can be deposited as thin layers that measure less than 1 micron. These cells are less expensive compared to silicon and help manufacturers build solar panels of different sizes and shapes depending on the requirement.
One key trend emerging in this market is the setting of ambitious targets for the installation of solar PV systems in the APAC region. Countries such as China, Japan, and India have set ambitious solar PV targets and are working to achieve them.
According to the report, one major factor driving this market is the increased solar energy consumption in the region, which is expected to elevate the demand for solar panels during the forecast period of 2014-2019. Increased awareness about the benefits of solar energy has resulted in growing demand for solar panels.
Further, the report states that concerns about environmental hazards caused by PV cell manufacturing are one of the key challenges that the market faces. The manufacturing of solar PV cells involves the production of harmful toxic materials that, if not regulated and controlled, can lead to environmental damage.
- Jinko Solar
- Suntech Power Holdings
- Trina Solar
- Yingli Green Energy
Other Prominent Vendors
- Bosch Solar Energy
- Hanwha SolarOne
- HHV Solar
- JA Solar Holdings
- LDK Solar
For more information visit http://www.researchandmarkets.com/research/gghlvx/solar_panel
SOURCE Research and Markets