Product Innovations and Increasing Installation of Solar Projects to Bolster Demand for Solar Modules

Published Date : Apr 24, 2017

ALBANY, New York, April 24, 2017 - has announced the addition of a new report, titled “Global Solar Modules Market Research Report 2017”, to its offering. The in-depth study on the global solar modules market provides in-depth insights into key market dynamics, technology innovations, average price trends, market share, and size of various segments. The research study highlights recent developments in solar modules and their impact on emerging demand patterns. The report offers revenue share of leading players and the strategies adopted by them to consolidate their positions in major regions such as North America, Europe, and Southeast Asia, with a focus on China, Japan, and India. 

The study evaluates the recent efforts taken by various researchers to develop low-cost, high-end solar modules, which are expected to alter the competitive dynamics in the market. The research reports takes a closer look at key technology advances made by manufacturers of photovoltaic (PV). Major developments in solar module installation projects in developing and developed regions are also covered in the report. 

The solar modules market is primarily driven by the spiraling demand for renewable energy sources for the generation of electricity in various regions. Intensive initiatives taken by governments of various countries to boost the production of renewable energy and increasing commissioning of solar modules projects have fuelled the market. The advent of breakthrough technologies has significantly boosted the conversion factor of solar modules, particularly for perovskite solar modules. The adoption of such technologies is expected to bolster the demand for solar modules.

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Continuous technological advancements and stringent environmental norms on reducing emission, have boosted the uptake of solar PV modules. This is expected to catalyze the market growth over the forecast period. Limited awareness of renewable sources of energy is likely impede the market in less developed nations. 

Nevertheless, in recent years, rapid advances made in augmenting the conversion efficiencies of thin-film PV modules are expected to open up lucrative avenues in the solar modules market. Furthermore, the rising approval by governments for setting up solar projects in emerging nations is expected to accentuate the growth of the solar modules market. Significant capital subsidies given by governments are also expected to attract a large number of solar module manufacturers in emerging markets. Sustained incentives to reduce carbon footprint in emerging and established markets are anticipated to further propel the market in the coming years.

Several players in the solar modules market are actively focusing on offering differentiated products to residential end users. Emerging companies have kicked off commercial production of their propriety solar cell technologies to expand their presence across various regions. Leading players are making substantial investments in research and developments to bring out product innovations in order to gain a competitive edge over others. 

Key market players operating in this market include Yingli Solar, Trina Solar, JA Solar, Canadian Solar, First Solar, Sunpower, Kyocera, REC Solar, Suntech, Sharp Solar, and ReneSola. 

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