Report : Asia Pacific Photovoltaic Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Application (Residential Applications, Commercial, Utility Applications); Type (Organic Components, Inorganic Components); Component (Cells, Optics, Trackers)
inorganic components Segment to Dominate Asia-Pacific Photovoltaic Marketduring 2018–2027
According to The Insight Partners market research study on “Asia-Pacific Photovoltaic Marketto 2027 – Regional Analysis and Forecast by Application, Type, Component,”is expected to reach US$ 407.93 Bn by 2027 from US$ 80.27 Bnin 2018. The market is estimated to grow at a CAGR of 20.0% from 2018 to 2027.The report provides trends prevailing in the Asia-Pacificphotovoltaic marketalong with the drivers and restraints pertaining to the market growthGrowing demand for sustainable source of energy and increasing use of solar energy in utilities, residential, and commercial applications have propelled the growth of photovoltaic market in APAC.
The photovoltaic market, by type, is segmented into organic components, inorganic components. The inorganic componentsegment held the largest share of the Asia-Pacificmarket in 2018. thin-film inorganic material is the largest sector of the photovoltaic industry. Inorganic materials used in the production of photovoltaic cells have been studied by the power generation industry and are increasingly used by the photovoltaic industry which isfueling the adoption of inorganic component in photovoltaic market.
Mitsubishi Electric Corporation, Panasonic Corporation, Kaneka Corporation, Kyocera Corporation, Sharp Corporation, JA Solar Co., Ltd., Renesola Co. Ltd, Trina Solar, Jink Solar, Shunfeng International Clean Energy Co., Ltd.are among the leading companies in the photovoltaic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in November 2019, ReneSola announced the sale of 13MW of project development rights to SUNfarmingPolska Asset 4 sp. z o.o. ("SUNfarming"), a Wroclaw-based investor with in-house project development and EPC provider and a company of the SUNfarming Group Germany.
The report segments the Asia-Pacific Photovoltaic Marketas follows:
Photovoltaic Market– ByApplication
Photovoltaic Market– By Type
Photovoltaic Market– By Component
Photovoltaic Market– By Country
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