Solar Photovoltaic Material Market To Reach US$19.60 Bn by 2024
In the report, Transparency Market Research has estimated that from the valuation of US$7.55 bn in 2015, the global market for solar PV materials is expected to attain the value of US$19.60 bn by the end of 2024. This market is expected to expand and a healthy CAGR of 11.4% during the period 2016-2024.
Download PDF Brochure -https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=23870
Owing to Developing Commercial Sector, Asia Pacific Holds Dominant Share
Solar photovoltaic materials have a wide range of applications in the commercial and industrial sectors. The studies have shown that demand for solar photovoltaic exhibited by these sectors are most likely to bolster the growth in the global market of solar photovoltaic materials market. The increasing installation of solar PV in commercial buildings, such as hospitals, shopping complexes, malls, and airports to make them independent source for generating electricity, is expected enable the market witness growth at an increased pace. Owing to the aforementioned applications, the commercial sector is anticipated to emerge as the leading application area of solar PV materials over the forecast period.
Geographically, Asia Pacific held the majority of the global market in 2015, accounting to 60% of total share. Furthermore, Asia Pacific is expected to sustain its dominating position owing to the growing trend of generating electricity from renewable sources and high demand for photovoltaic installation in the power industry. However, the North America market for solar photovoltaic materials is expected to showcase lucrative prospects, attributing by the growing environmental awareness in the region.
More Trending Reports by Transparency Market Research - https://www.prnewswire.co.uk/news-releases/global-artificial-lift-systems-market-to-earn-revenue-worth-us-12-3-bn-by-2027-growing-at-a-cagr-of-5-0-over-2019-to-2027-transparency-market-research-853459071.html
Growing Environmental Concerns to Benefit the Growth of Solar Photovoltaic Materials Market
The rising concerns regarding the environmental problems due to the increasing use conventional energy sources such as coal and oil are the key factors behind adoption of solar energy. The increasing carbon footprint and greenhouse gas emission are motivating consumers to demand for clean energy, in turn fuelling the demand for solar panel installations. The research activities undertaken to discover new materials with power conversion efficiency and low manufacturing cost are expected to bolster the global solar photovoltaic materials market in the near future. Furthermore, strict rules and regulations implemented by governments to reduce the carbon emission are benefiting this market, boosting its growth globally.
Buy Now - https://www.transparencymarketresearch.com/checkout.php?rep_id=23870<ype=S
High Cost Associated with Solar Power could Hinder Market’s Growth
Although, solar power is considered as clean energy, the materials used are very difficult to recycle or to reuse, which causes adverse effect on environment. Also, the space required to produce significant amount of energy through solar power is very large, which may restrict the market for solar photovoltaic materials from growing. Furthermore the high installation and high maintenance cost associated with it could hinder the market’s growth. Materials such as copper indium diselenide and cadmium telluride are cheaper, but have low power conversion efficiency. Market players are thus continuously investing in research programs to increase the efficiency of solar photovoltaic materials they offer. Governments around the world are encouraging scientists and researchers to develop technologically advanced processes, which is expected to boost the global solar photovoltaic materials market in the coming years.
This information is taken from a report by Transparency Market Research, titled as “Solar Photovoltaic Material Market (Material Type - Crystalline, Polycrystalline, Cadmium Telluride, and Copper Indium Diselenide; End User - Residential, Commercial, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Request for covid19 Impact Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=23870
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Solar Photovoltaic Material Market To Reach US$19.60 Bn by 2024 here
News-ID: 2371319 • Views: 429
More Releases from Transparency Market Research - Energy & Mining
US Industrial Boilers Market Key Developments, Competitive Landscape and Forecas …
Albany, NY - Key Highlights According to Transparency Market Research (TMR), the US industrial boilers market is likely to reach a valuation of US$ 591.3 Mn by 2027. The US industrial boilers market was valued at US$ 436.9 Mn in 2018 and is expected to exhibit a strong CAGR of 3.42% between 2019 and 2027. Rise in Shale Gas Extraction Likely to be a Key Factor for US Industrial Boilers Market Of the
Instrument Transformers Market - Global Industry Report, 2030
Albany, NY - Instrument Transformers Market: Introduction In terms of value, the global instrument transformers market is anticipated to expand at a CAGR of 5.5% from 2020 to 2030 and cross a value of US$ 12 Bn by 2030. Asia Pacific led the global instrument transformers market in 2019, in terms of demand. This trend is anticipated to continue between 2020 and 2030. Rise in investment in smart grids, including digitization
Fuel Dispenser Market - Global Industry Report, 2030
Albany, NY - Fuel Dispenser Market: Introduction In terms of value, the global fuel dispenser market is expected to reach ~US$ 2 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. Based on volume, the global fuel dispenser market is estimated to reach 662,058 units by 2030, expanding at a CAGR of ~4% during the forecast period. In terms of type, the submersible system segment holds leading
Bio LPG Market - Global Industry Report, 2030
Albany, NY - Bio LPG Market: Introduction Transparency Market Research delivers key insights on the global Bio LPG market. In terms of revenue, the global Bio LPG market is estimated to expand at a CAGR of ~83% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global Bio LPG market. The global Bio LPG market is broadly affected by several
More Releases for TMR
Global 3D Animation Market: Snapshot The evolution and introduction of three-dimensional (3D) animation has given the world of animation a new perspective. The process of creating 3D moving images in a digital space through objects or models has given these illusions depth. One of the most fundamental differences between 2D animation and 3D animation is the technique used for creating the images and the way they look. The global 3D animation
Various strategies are leveraged by success-hungry players in the global hyperbaric oxygen therapy devices market. One of them is the thrust on research and development to come up with new or better products. Their focus is on building cost-effective medical devices that would see greater uptake. Strategic partnerships are also being undertaken by them to diversify product portfolios and gain greater share. Further, companies are shifting their gaze to developing
Monolithic Ceramics Market Analysis : TMR
Transparency Market Research has published a new market report titled “Monolithic Ceramics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global monolithic ceramics market was valued at US$ 19.43 Bn in 2014 and is anticipated to reach US$ 36.64 Bn by 2023, expanding at a CAGR of 7.3% between 2015 and 2023. Request to view Sample Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3158 Monolithic ceramics are
Wax Market Analysis : TMR
A recent research report published by Transparency Market Research projects the global wax market to expand at a CAGR of 2.6% during the period between 2014 and 2020. The report, titled “Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” estimates the global wax market to be worth US$8.98 bn by 2020. The overall market stood at a valuation of US$8.21 bn in 2013
TMR - Electrical Submersible Pumps Market by 2022
A large number of prominent enterprises with strong brands currently represent the majority in the global electrical submersible pumps (ESPs) market. This provides the market with a highly competitive vendor landscape. According to Transparency Market Research (TMR), the top four companies operating in the market, comprising Schlumberger Limited, Borets Company, LLC, Baker Hughes Incorporated, and GE Oil & Gas, held over 86% of the global ESP market in 2013. In
Sulfone Polymers Market Analysis : TMR
Global Sulfone Polymers Market: Snapshot Several grades/varieties of sulfone polymers have gained vast applicability across a number of industries in the past few years. The relatively higher level of resistance wear and corrosion provided by these materials as compared to metals have increased their usage in medical devices and implants. Owing to their high transparency resistance, low weight, and high performance, the demand for sulfone polymers is also rising in the