Increasing demands for clean energy is a major reason for the globally growing utilization of solar energy. Innovations in the development of the photovoltaic (PV) cells played a major role in capturing solar energy efficiently. PV cells can be combined in collector panels which convert solar energy into electrical energy through the photoelectric effect. Commercially crystalline silica and its oxides are used to manufacture PV cells. Silicon is abundantly present all around the world and is an environmentally safe element, and thereby the ideal choice. Crystalline solar PV collectors are mostly used in the industrial and residential sectors. Numerous innovations are also in progress to improve the efficiency of PV cells made from crystalline silicon so as to tap solar energy efficiently. Monocrystalline silicon, polycrystalline silicon, and amorphous silicon are major types of silicon presently used. Other materials which can be employed for this purpose are cadmium telluride and copper indium gallium selenide/sulfide.
A majority of the world’s PV solar collectors are based on different variations of silicon used in PV cell manufacturing technologies which distinguished them as monocrystalline and polycrystalline PV cells. These solar cells are made out of cylindrical silicon ingots which are further modified to make silicon wafers. Monocrystalline PV cells are made from an extremely pure form of silica which exhibits prominent solar conversion efficiency. Polycrystalline silicon solar cells are manufactured from less pure silicon and are therefore less efficient. Multiple types of solar collectors have been developed recently to improve the efficiency of solar energy collection such as thin-film solar cells, amorphous silicon (a-Si) collectors, cadmium telluride cells, copper indium gallium selenide-based collectors, and organic photovoltaic collectors. The main advantages of thin film PV collectors are their relatively low consumption of raw materials, high efficiency, reduction in sensitivity on overheating, improved integration & appearance, and excellent performance at high ambient temperatures. Their current drawbacks are their limited solar conversion efficiency and the industry’s inadequate experience with lifetime performance.
A few recently developed solar collection technologies include solar thermoelectricity systems, dye sensitized solar cells and concentrated photovoltaic collector systems which may hold a significant share in the solar energy market if they become competitive enough to be commercialized.
The annual global production of solar energy is estimated to reach over 500GW by the end of 2020 (from 40 GW in 2013) which indicates that the global crystalline solar collector market is expanding rapidly displays excellent potential. China and Germany are the leading countries in terms of solar PV collectors and account for an installed capacity of more than 37 GW. The market is burgeoning in South East Asia due to growing energy demands and strict global environmental norms. Decreasing costs of PV cells, uncertainties in the global oil & gas industry, and advanced technological innovation are helping make solar panels smaller, cheaper and more customer friendly thereby attracting several countries to adopt them in their energy replenishment programs.
Major restraints for the crystalline solar PV collector market are the reduced solar conversion efficiency of the existing PV cells and use of modern crystalline materials which are expensive and toxic for the environment. Efforts are being taken to increase their efficiency of solar collectors through new technological breakthroughs such as nano-crystalline solar cells, thin-film processing, metamorphic multijunction solar cells, and polymer processing to propel the PV solar collector industry. Key global players in market include Wuxi Sutech Power Co., Ltd., First Solar Inc., Juwi Solar, Inc., Yingli Solar, Sharp Solar Energy Solutions Group, BP Solar, and Canadian Solar Inc. Major Indian manufacturers are SunFuel, SSL Ltd, and Emmvee Photovoltaic. PV is projected to produce about 10% of world’s electricity by 2030. The Market’s future prospects appears to be promising and it is poised to be a major contributor in energy replenishment of the world in the near future.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.