openPR Logo
Press release

Solar Photovoltaic Material Market to Grow at a CAGR of 11.4% through 2024

12-05-2017 01:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Solar Photovoltaic Material Market to Grow at a CAGR of 11.4%

 the global solar photovoltaic (PV) materials Market is highly fragmented owing to the presence of a large pool of participants. Transparency Market Research (TMR) states that the top four players, namely Applied Materials Inc., BASF SE, Shin-Etu Chemicals Co. Ltd., and Wacker Chemie AG, contributed for a little more that 44% to the global market in 2015. However, the leading players are gaining significantly from their technical expertise and experience, making it difficult for small and new players to compete with them. Nevertheless, extensive advancement and continual innovations demonstrated by small companies are most likely to help them grow, and compete with international players.  

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.

Request Sample Copy of the Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&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.

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.

Request for Customization @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=23870
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.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact Us

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: www.transparencymarketresearch.com/

This release was published on openPR.

Permanent link to this press release:

Copy
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 Grow at a CAGR of 11.4% through 2024 here

News-ID: 845926 • Views: 114

More Releases from Transparency Market Research

Voltage Detectors Market – Evolving Technology Trends and Industry SWOT Analys …
The global voltage detectors market includes large number of players. Some of the key players are Texas Instruments, Toshiba, ROHM Semiconductor Sharp Microelectronics, Analog Devices Inc., STMicroelectronics, ON Semiconductor, Torex Semiconductor, Taiwan Semiconductor and Seiko Instruments. Browse Our Report @ https://www.transparencymarketresearch.com/voltage-detectors-market.html Voltage Detector is a testing equipment generally used to determine the existence or absence of an electrical charge in an object. It is highly suggested for conditions where power issues exist.
Switched Capacitor Filters Market : Key Segments, Maket Insights, Regional Outlo …
Major players in the global switched capacitor filters market are Texas Instruments Incorporated, Analog Devices, Inc., Maxim Integrated, Inc., Siemens AG, Eaton Corporation, and among others. Browse Our Report @ https://www.transparencymarketresearch.com/switched-capacitor-filters-market.html A switched capacitor filter is an active filter based on the consideration that a switching of capacitors between two circuit nodes at an adequately high rate that is equivalent to a resistor connecting these two nodes. The switched capacitor filters are
Current Calibrator Market : Recent Industry Developments And Growth Strategies A …
Key players operating in the global current calibrator market include Valhalla Scientific, Rotek Inc., Time Electronics, PCE Instruments, Martel Electronics, AOIP Instrumentation, Extech Instruments, Yogokawa Test & Measurement Corporation, Extech Instruments, REED Instruments, Fluke Corporation, and others. These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the
Damp Meter Market – Outlook by Responsible Drivers, Restraints, Demand
Key players operating in the global damp meter market include PCE Instrument, Delmhorst Instrument Co., GENERAL TOOLS & INSTRUMENTS LLC, FLIR Systems, Inc. designs, Panomex Inc., These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the global market are collaborations, partnerships, agreements, and new product launches. The

All 5 Releases


More Releases for Solar

Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others. This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such
Solar PV Module Market 2018-2025 : Canadian Solar, First Solar, Jinko Solar, Sha …
Researchmoz added Most up-to-date research on "2018-2025 Solar PV Module Report on Global and United States Market,Status and Forecast,by Players,Types and Applications" to its huge collection of research reports. Summary This report studies the Solar PV Module market status and outlook of global and United States, from angles of players, regions, product types and end industries; this report analyzes the top players in global and United States market, and splits the Solar
Global Solar Photovoltaic Installations Market 2017: Key Players – BENQ Solar, …
Summary WiseGuyReports.com adds “Solar Photovoltaic Installations Market 2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2022” reports to its database. This report provides in depth study of “Solar Photovoltaic Installations market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Solar Photovoltaic Installations  Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an
Global Solar Cell (Photovoltaic) Equipment Market 2017 : Trina Solar, Canadian S …
Market Research Explore : The report 2017 Global Solar Cell (Photovoltaic) Equipment Market mainly highlights thoughtful facts and intelligence of Solar Cell (Photovoltaic) Equipment market in conjunction with prevailing and future market trends throughout the forecast period from 2017 to 2022. It additionally executes the great study of price, current geographical zones, technology, demand-supply and therefore the consequences it might wear the market growth of Solar Cell (Photovoltaic) Equipment trade. Do
Solar Panel Market 2017 - Hanwha, First Solar, SunPower, Elkem Solar, Sharp, Kyo …
The Global Solar Panel Market 2017 Industry Research Report focused on global and regional market, major manufacturers, as well as the current state of the Solar Panel industry. First, "Global Solar Panel Industry 2017" report analyzed the basic scope of this industry like definition, specification, classification, application, industry policy, news analysis and Solar Panel industry chain structure. Major Companies Covered in this report:- Hanwha First Solar SunPower Elkem Solar Sharp Kyocera Solar Solar Frontier Solarworld NSP Trina Solar Canadian Solar Jinko Solar JA Solar GCL
Global Solar Cells and Modules Market 2016 - Hanwha, First Solar, SunPower, Elke …
This report mainly covers the following Segment regions including (the separated region report can also be offered) North America Europe Japan China Southeast Asia India Request for sample report at http://www.fiormarkets.com/report-detail/2073/request-sample The players list (Partly, Players you are interested in can also be added) Hanwha First Solar SunPower Elkem Solar Sharp Kyocera Solar Solar Frontier Solarworld NSP Trina Solar Canadian Solar Jinko Solar JA Solar GCL System Integration Yingli Shunfeng ReneSola Risen Chint Group Hareonsolar Eging PV CSUN BYD HT-SAAE With 24 top producers. Data including (both global and regions): Market Size (both volume - K Units and value - million USD), Market Share, Production