Solar Panel Market Demand & Competitive Analysis by Leading Manufacturers to 2026

Allied Market Research published a new report, titled, "Solar Panel Market". The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Photovoltaics (PV) solar panels use light from sun as a source to generate electric power. It is a packaged, connected construction of PV solar cells. Most solar modules are commonly made from Si-wafer based PV technology. The PV market report of 2017, by Fraunhofer ISE, says that 95% of the total production of PVs is by Si-wafer based PV technology, while rest is made from thin film technologies using cadmium telluride and amorphous silicon. Emerging technologies use solar multi-junction cells in thin film based solar panels. Solar panels are used in wide variety of applications like rooftop, electric vehicles battery storage, residential applications, street lightning, aerospace & defense, and others. According to renewable energy report by REN 21, for the year 2018, the top 3 countries in solar PV generation are China, United States, and Japan.

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Increase in demand for electricity, clean energy output, and reduction of carbon emissions, are expected to drive the global solar panel market. Factors such as unavailability of solar energy during night, seasonal dependency, high cost of electricity, and expensive solar technology are expected to hamper the growth of the solar panel market, globally. For minimizing the cost per watt of electricity produced, embedded solar panels are used to track maximum power and achieve reliable output. This factor is predicted to be the upcoming opportunity for the market. Researchers nowadays are taking efforts to produce and make solar panels more reliable, efficient, and less costly. Introduction of controllers, such as Fuzzy Logic Controller (FLC), are expected to be the upcoming opportunities in the solar panel market worldwide.

The global solar panel market is segmented on the basis of material, type, applications, and region. On the basis of source, it can be classified as silicon crystal, cadmium telluride, gallium arsenide, and others. By type, it is divided into concentrated PV module, monocrystalline Si, polycrystalline Si, and others. By application, it is categorized into battery storage, solar lighting, commercial, military & aerospace, and others. Region-wise it is analyzed for North America, Europe, Asia-Pacific, and LAMEA.

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Key players operating in the solar panel market are Jinko solar, JA solar co., Ltd., Trina Solar, LONGI solar, Canadian solar, Hanwha Q CELLS, Risen energy co., Ltd., GCL SI, Talesun, and First Solar. These companies are adopting many strategies such as product launch, research, solar power capacity growth, and others to maintain competitive edge in the market. Due to continuous growth in solar manufacturing, global players focus toward increasing their capacity to Gigawatt (GW). The top four solar module producers in 2018, were Jinko solar, JA solar, Trina solar, and Longi solar. Also, Wuxi Suntech Power Co., Ltd, Trina solar, Yingli and SHARP CORPORATION are GW producers.

Key offerings of the report:

o Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
o Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
o Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
o Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
o Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.

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