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 intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.