London, 02 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Solar Panels Market 2015-2019, which is expected to witness steady growth and post a CAGR of 11.8 percent during the forecast period of 2014-2019.
Vendors are implementing cost-effective materials to develop solar panels, which has resulted in a decline in their prices. This in turn has encouraged many consumers to adopt solar energy power generation in their homes, commercial enterprises, and communities, which has significantly boosted the demand for solar panels.
“The connection of smart grids to the solar grid, and the inclusion of solar power storage in PV inverters, has transformed solar panels from being simple power generation panels to the brain and heart of the solar power system,” says Faisal Ghaus, Vice President of TechNavio.
Key Market Drivers
- Increased Solar Energy Consumption
- Decrease in Cost of Solar Equipment
- Growing Small-scale PV Demand
- Increased Government Support for Solar Energy Projects
Key Market Trends
- Increased Solar Energy Storage Facilities
- Increased Awareness of PV Technology
- High Solar Panel Production in China
Key Market Vendors
- Canadian Solar Inc.
- First Solar Inc.
- JinkoSolar Co. Ltd.
- Sharp Corp.
- Suntech Power Holdings Co. Ltd.
- Trina Solar Ltd.
- Yingli Green Energy Holding Co. Ltd.
To define the market circumstances 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%…
