Global Crystalline Silicon Solar PV Modules Market 2018-2022 | Key Insights and Forecasts | Technavio
LONDON--(BUSINESS WIRE)--Jan 7, 2019--The global crystalline silicon solar PV modules market is expected to post a CAGR of over 21% during the period 2018-2022, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190107005478/en/
Technavio has released a new market research report on the global crystalline silicon solar PV modules market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is favorable government regulations. Fossil fuels are the most widely used sources of power generation due to their natural abundance. However, GHG emissions from fossil fuels are significant challenges for environmental sustainability. The use of alternative energy sources, such as solar PV, wind power, and hydropower, is necessary to reduce emissions. Governments across the world support the adoption of solar PV systems through subsidies, tax benefits, and incentives to consumers and producers.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increased adoption of microgrids as one of the key emerging trends in the global crystalline silicon solar PV modules market:
Global crystalline silicon solar PV modules market: Increased adoption of microgrids
A microgrid is a small-scale power grid that has its own generation and storage resources. Microgrids can function independently or collaboratively with other small power grids. A microgrid becomes a hybrid microgrid when it is integrated into the main power grid. A microgrid can connect and disconnect from the power grid to operate in both grid-connected and island modes. A microgrid can shift to island mode when there is an outage on the main power grid or if the system is disconnected from the main grid intentionally.
“Power grids are not always stable. Microgrids play a crucial role in areas where power outages are frequent. This is due to relatively unstable power grids. Microgrids are used in villages where grid-connected power is not accessible or has limited availability. They can function autonomously or operate parallelly with conventional grids. They are more reliable as they are unaffected by power outages in the main grid. They also reduce the cost of extending the grid to remote locations. Microgrids may generate power from renewable sources, such as solar and wind power,” says a senior analyst at Technavio.
Global crystalline silicon solar PV modules market: Segmentation analysis
This market research report segments the global crystalline silicon solar PV modules market by product (monocrystalline and polycrystalline) and geographical regions (APAC, EMEA, and the Americas).
The monocrystalline segment held the largest market share in 2017, accounting for over 68% of the market. This product segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 81%. This region is expected to dominate the market through 2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20190107005478/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY OTHER ENERGY TECHNOLOGY OTHER TECHNOLOGY
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 01/07/2019 05:18 AM/DISC: 01/07/2019 05:18 AM