Solar Panels Market 2018 Global Industry Analysis with Market Leaders Trina Solar Limited, Canadian Solar Inc., Jinko Solar Holding Co., Ltd., JA Solar Holdings Co., Ltd., Hanwha Q CELLS Co., Ltd.

Market Highlights
The solar panel market is driven by various factors such as increase in solar systems installations and generous government initiatives and policies that support solar energy generation. This is mainly because, solar panel power generation is less polluting and produces less carbon emissions when compared with traditional conventional energy sources such as coal, oil and petroleum. Solar power generation is helping in the fight against climate change as well as it is acting as a source of power for remote and off grid areas where still millions of global population lives. However, the growth of the market can be hindered by the low power generation capacity of the solar panels and increasing stringent regulations on the land used for solar power generation sites.

Solar panels market is expected to grow with the CAGR of approximately 20.18% during the forecast period.

Currently, there is a growing demand for solar panels in the residential rooftop applications. Other factors that contribute the market growth include significant fall in the prices of key components such as silver and poly-silicone that are used in the manufacturing of solar cells coupled with the gradual fall in the prices of industrial commodities used to manufacture solar panels. The rising inflation in electricity and natural gas sector in the coming decade is one of the prominent factor that will drive the growth of the solar panels market in forecast period.

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Prominent Players
Trina Solar Limited (China), Canadian Solar Inc. (Canada), Jinko Solar Holding Co., Ltd. (China), JA Solar Holdings Co., Ltd. (China), and Yingli Solar (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of the competition in the Global Solar Panels Market.

Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Solar Panels appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position.

Industry/Innovation/Related News:
January 13, 2018 – Taiwan - The National Development Fund, under the Executive Yuan, has decided to fund a new solar energy alliance in Taiwan as part of the government's efforts to develop renewable energy. After several meetings to study the feasibility of investing in a new company to be formed by the merger of three Taiwanese solar energy firms: Neo Solar Power Corp, Gintech Energy Corp.and Solartech Energy Corp, the fund has decided to go ahead and invest.

December 18, 2017 – ‘BP’ a global energy leader with wide reach across the world’s energy systems announced that it is getting back into the solar business through an acquisition agreement with Lightsource, one of Europe’s largest developers and operators of utility-scale solar projects.

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Regional Analysis
Asia-Pacific is the biggest solar power market; followed by Europe and then North America. China alone shares almost 44% of new solar PV capacity. Spain remained the global leader in existing CSP capacity, with 2.3 GW till the end of 2016, followed by the United States with just over 1.7 GW. These two countries still accounted for over 80% of global installed capacity. The rest of the world (ROW region) is comprised of Brazil, Middle East, and Israel; which are gaining attention from the major players of the PV and the CSP market considering the potential that these regions hold. Due to the developing markets such as China, India, Brazil, Canada, Germany, and France CSP technologies are expected to grow at a faster rate in future.

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This release was published on openPR.