Solar Panel Market Size 2021-2026: Global Industry Share, Trends, Growth, Opportunity and Forecast

Looking forward, IMARC Group expects the global solar panel market to exhibit strong growth during the next five years.

SHERIDAN, WYOMING, UNITED STATES, October 20, 2021 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Solar Panel Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026”, the global solar panel market reached a volume of 178.3 GW in 2020. A solar panel is a collection of solar (or photovoltaic) cells that use natural sunlight to generate electricity. It is primarily manufactured by using boron, silicon, and phosphorus, which are arranged in a grid-like pattern on the surface. The utilization of solar panels has increased substantially as their installation assists in combating the harmful emissions of greenhouse gases.

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Solar panels offer renewable power sources and assist in minimizing the amount of electricity produced from fossil fuels. Owing to this, governments in several emerging nations are providing tax relaxations and introducing various awareness campaigns to promote their installation. Besides this, several key manufacturers are launching ultrathin solar panels, which are lighter and more flexible than the glass-based variants. These ultrathin variants are also superior to conventional solar panels in terms of efficiency and cost-effectiveness. Additionally, continuous innovations in the field of quantum physics and nanotechnology to increase solar panels' effectiveness are projected to further propel the market growth in the coming years. Looking forward, IMARC Group expects the global solar panel market to exhibit strong growth during the next five years.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

Jinko Solar
Trina Solar
Canadian Solar
JA Solar
Hanwha Q-CELLS
GCL-SI
LONGi Solar
Risen Energy
Shunfeng
Yingli Green
Market Segmentation:

Breakup by Type:

Crystal Silicon
Monocrystalline Silicon
Polycrystalline Silicon
Thin Film
Others
Breakup by End Use:

Commercial
Residential
Industrial
Regional Insights:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

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Key highlights of the report:

Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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