Asia-Pacific Solar Energy Panel Market Complete Overview with a CAGR of 14.8%

The impending need for clean energy favored with strong government initiatives in major countries of the Asia-Pacific, supplement the increase in adoption of solar panels in this region. Adani Enterprises Ltd. in association with the Government of Rajasthan has announced to set up India's largest solar park with a capacity to generate 10,000 MW of electricity.

Asia-Pacific Solar Energy Panel Market is expected to garner $37.8 billion by 2020, registering a CAGR of 14.8% during the forecast period 2014-2020. A solar panel comprises a cluster of solar cells that generate electricity through sunlight. Thin film and crystalline silicon which includes monocrystalline & polycrystalline, are the two common types of solar cells. Thin film cells are comparatively cheaper than silicon cells. The growth of solar energy panel market is considerably rising in the Asia-Pacific countries due to favorable government regulations and increasing customer inclination towards the applications of sustainable energy. The rising cost of fossil fuels and increasing consumer awareness towards solar energy have resulted in a high production of solar panels. Low conversion efficiency is a major concern for this market, as the rate of energy conversion is low which eventually affects the power generation capacity of solar power plants.

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Technology improvements and a rise in the demand for solar PV's should present potential opportunities for this industry in the near future. Government subsidies, eco-friendly technology and the decreasing costs of raw materials are key factors that supplement the growth of this market.

KEY TAKE AWAYS
The report provides an in depth analysis of the Asia-Pacific solar energy panel market with current and future trends
This report highlights the key drivers, opportunities and restraints of the market along with an impact analysis of the forecast period
Current and future trends are outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market
Market estimation for type, end user and geography segment is derived from the current market scenario and expected market trends
The Porters five forces analysis highlights the potency of buyers and the suppliers participating in this market. This would further lend a competitive edge to the stakeholders and help in better decision making

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KEY PLAYERS

Canadian Solar Inc.
Jinko Solar Holding Co. Ltd.
First Solar
Suntech Power Holdings
Trina Solar
Yingli Green Energy Holding
JA Solar Holdings
Hanergy Holding Group
LDK Solar Co. Ltd.
SolarWorld

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