Nov 10, 2020   SOURCE: BusinessWire

Insights on the Photovoltaic Industry in Asia Pacific to 2027 - by Application, Type and Component - ResearchAndMarkets.com

The "Asia Pacific Photovoltaic Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Application; Type; Component" report has been added to ResearchAndMarkets.com's offering.

The photovoltaic market in the Asia Pacific was valued at US $94.81 billion in 2019 and is projected to reach US$ 407.93 billion by 2027; it is expected to grow at a CAGR of 20.0% during the forecast period.

Several initiatives have been taken by governments in APAC to minimize the cost of the overall set-up to maximize the far-reaching benefits of an on-grid option in rural electrification, along with uplifting the focus toward sustainable environmental conditions. Moreover, several countries, such as China have established policies to enhance the production level of photovoltaic solar power energy. Further, several public and private associations have been established to fuel the demand for photovoltaic systems across the world. These factors are likely to drive the photovoltaic market in Asia Pacific.

The inorganic components segment by type led the photovoltaic market with a decent market share in 2019. The inorganic semiconductor materials used to produce photovoltaic cells include amorphous and microcrystalline Si, the III-V compounds and alloys, CdTe, crystalline, multicrystalline, chalcopyrite compound, and copper indium gallium diselenide (CIGS).

Overall size of the photovoltaic market in Asia-Pacific has been derived using primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia-Pacific photovoltaic market. It also provides an overview and forecast for the photovoltaic based on all the segmentation provided with respect to the Asia-Pacific region. Also, primary interviews were conducted with industry participants and commentators in order to validate and analyze the data. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Photovoltaic industry. Mitsubishi Electric Corporation, Panasonic Corporation, and Kaneka Corporation are among the market players present in the Asia Pacific photovoltaic market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia-Pacific Photovoltaic market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Asia-Pacific Photovoltaic market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Asia-Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Rise in Demand for Electricity and Shift Over the Renewable Form of Energy
  • Supportive Government Policies for Support the Use of Solar Energy

Restraints

  • Fluctuating Economic and Political Conditions

Opportunities

  • Adoption of Photovoltaic Paints

Trends

  • Installation of Standalone Systems

Companies Mentioned

  • Mitsubishi Electric Corporation
  • Panasonic Corporation
  • Kaneka Corporation
  • Kyocera Corporation
  • Sharp Corporation
  • JA Solar Co., Ltd
  • Renesola Co. Ltd
  • Trina Solar
  • Jink Solar
  • Shunfeng International Clean Energy Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/u7wxql