- The key vendors in the Solar PV Market in Asia 2015-2019 are AU Optronics Corp (BenQ Solar), Hangzhou First PV Material Co., Panasonic Corp., Sharp Corp., Shunfeng Photovoltaic International Ltd. and SunEdison.
London, 20 January 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Solar PV Market in Asia 2015-2019. One of the major trends in this market is the increase in awareness about the technology. Various national authorities across the globe are encouraging companies to manufacture PV modules. The overall market is expected to grow at a CAGR of 23.7 percent during the forecast period of 2014-2019.
Solar PV modules made up of solar cells are used for this electricity-generation process. The process takes place on cloudy days as well, although with a reduced conversion efficiency. These solar PV modules can be used in both grid-connected and off-grid applications, including utility-scale PV systems, residential and commercial buildings, and industrial facilities.
“Major countries in Asia such as China, Japan, and India have set ambitious solar PV targets and are working to achieve them,” says Faisal Ghaus, Vice President of TechNavio Research.
“For instance, China became the largest solar market in 2013 and the growth trend in the market is expected to show optimistic results. In line with the growth trajectory of China’s solar PV development, in May 2014, the National Development Reform Council announced its target of installing 70 GW of solar PV by 2017.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
