Global Solar Panel Market: Overview
Heightened environmental concerns due to excessive use of conventional energy sources in the industrial sector is leading to a shifting preference for renewable energy sources. Solar energy is one of the largest sources of renewable energy available for use. Solar power is suitable for a multitude of applications, which can be characterized either as active solar applications or passive solar applications.
The report present a comprehensive analysis of the development aspects of the global solar panel market for the 2016-2014 period. This includes insights into market drivers, challenges, and trends that will have a bearing on the growth pattern of this market. Besides this, design and technological improvements in solar panels are also looked into to analyze their impact on the progression of this market during the forecast period. Other vital aspects such as demand and supply mechanism, resource utilization, and industry value chain are covered at length in this report. The information presented is collected from primary and secondary data sources and is also based on inputs received from industry experts and opinion leaders in the solar panel industry.
The research report presents an up-to-date analysis of competition dynamics that is prevalent in the global solar panel market. This includes insights into business strategies of major companies that can be leveraged for competitive gains. With an exhaustive collection of graphs, tables, and charts the research report presents a quantitative market-related analysis in a structured and concise manner. Using standard analytical tools such as SWOT analysis, the research report presents the strengths, weakness, opportunities, and threat analysis of the global solar panel market until the end of 2024.
Global Solar Panel Market: Drivers and Restraints
The increasing demand for solar panels in the industrial sector points out the shifting preference from conventional energy sources to non-conventional types. Numerous industries worldwide are investing heavily in installing solar panels and equipment. The global solar panel market is predominantly driven by the increasing number of solar power plants across a number of industry verticals.
The use of solar panels lies in converting solar energy into electrical energy. Solar panels contain silicon-based photovoltaic solar cells that trap the sun’s rays and convert it into electrical energy. In addition to the increasing awareness about the utilization of clean energy, the exhaustion of fossil fuels is a major factor fuelling the demand for solar panels.
However, the high initial investment involved in the installation of solar panels is restraining the growth of this market to some extent. Nevertheless, the overall cost-effectiveness of solar panels in the long run is leading to the rising popularity of solar panels. The low capacity utilization of solar panels resulting in low energy output than non-renewable energy sources is also challenging the market’s growth.
Global Solar Panel Market: Regional Outlook
Geography-wise, the global solar panel market is classified into North America, Asia Pacific, Europe, and Rest of the World. Amongst these, North America dominates the global market due to high investments and government support for utilization of renewable energy sources.
Companies Mentioned in Report
The report presents a detailed vendor landscape of the global solar panel market profiling leading companies for their key business attributes. Some of the leading companies in this market are Auxin Solar, DM Solar, 1ST Sunergy, Yingli Green Energy, Global Watt, Innergy Power, ReneSola, Everbright Solar, Green Power, and Aqua Solar.
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.