Solar Photovoltaic (PV) Modules Market to Grow at Remarkable Pace in APAC due to Favorable Government Policies


Published Date : Apr 18, 2017

ALBANY, New York, April 18, 2017: Electricity is in high demand not only from commercial sectors, but also residential and industrial sectors. The growing population and thus the rising demand for energy all across the world has led to a need for alternative sources of energy. The availability of sunlight or solar energy in abundance, especially in tropical countries is shifting the focus of many market players to install solar photovoltaic modules. MarketResearchReports.biz has announced the addition of a new market study to its repository, titled “Solar Photovoltaic (PV) Modules Market To 2020 - Significant Cost Advantages In Asia Set To Increase Manufacturing Capabilities.”

The report helps in gaining competitive intelligence about key market players and tracks industry trends, future opportunities, and threats. It discusses market development, technological advancements, and role played by governments and other regulatory bodies. The study helps identify factors that are driving changes in the industry now and those, which will have an impact in the future. The global solar photovoltaic (PV) modules market is segmented on the basis of key criteria and each segment is studied in detail, thus ensuring a thorough coverage of the market. The growth drivers and challenges faced by players in the industry are discussed and business strategies to overcome these challenges are also given.

Photovoltaic (PV) systems, which convert sunlight into electricity, are a safe and reliable way to generate electricity, thus driving their adoption. PV systems incur less operating costs and are their installation is easy, which is why the market is growing at a significant pace. These systems deliver safe, clean, cheap, and decentralized electricity to people and will register a high CAGR in the coming years owing to these benefits. Another factor fueling the adoption of photovoltaic modules is the growing concern for the environment owing to greenhouse gas emissions, which has resulted in governments and various other agencies to take efforts to adopt and promote renewable energy sources.

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Governments across countries are offering incentives for adopting solar PV systems, encouraging the growth of this market. Various emission regulations laid by government and environment bodies are also boosting the growth of this market. However, a lack of sufficient grid infrastructure is posing a challenge for the growth of the solar PV market. A fall in the prices of solar PV module is another factor impacting the market in a negative way. On a positive note however, the solar PV market is projected to make a strong headway in Asia Pacific in the coming years on account of high demand for electricity and abundant supply of solar energy, especially in India and China. Rapid industrialization and growing population in these countries are expected to trigger the need for alternate source of electricity.

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