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2021-2030 Global Solar PV Module Market (492-page PDF and Insights) Analysis and Industry Forecast

Portland, Oregon, USA, November 22, 2021/EINPresswire.com/-The global solar photovoltaic module market is worth 127.9 billion U.S. dollars in 2020, and is expected to reach 260.2 billion U.S. dollars by 2030, starting from 2021 at a rate of 7.4% The compound annual growth rate will increase to 2030. Solar photovoltaic modules are photovoltaic cell modules installed in the frame. Solar panels use sunlight as an energy source to generate direct current. A group of photovoltaic modules is called a photovoltaic panel, and a photovoltaic panel system is called an array. The array of photovoltaic systems provides solar energy for electrical equipment.

At present, due to the rapid increase in the development of renewable energy in the Asia-Pacific and LAMEA regions to cope with the increase in power demand, many opportunities have emerged in the global solar photovoltaic module market. In addition, due to the expiration of the Federal Investment Tax Credit (ITC), the market is driven by domestic content laws and increased photovoltaic panel installation projects.

In addition, in advanced economies such as the United States, solar photovoltaic has proven to be an economic alternative to peak power demand. In addition, the success of distributed solar energy and the rapid reduction in costs have prompted some U.S. utility companies to build their own solar installations, such as residential and community projects. However, the increase in grid connection problems and interconnection delays and insufficient grid capacity constitute obstacles to the establishment of new factories, which are expected to hinder the growth of the solar photovoltaic module market during the forecast period. In addition, the increase in fossil fuel prices is expected to provide growth opportunities for the solar photovoltaic module market during the forecast period.

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Through technology, researched the global solar photovoltaic module market scale of thin film and crystalline silicon. Due to higher conversion efficiency, the crystalline silicon part will occupy the largest market share in 2020. In 2020, the crystalline silicon market segment will dominate the global market with nearly four-fifths of the total market share.

From the product point of view, research on the global solar photovoltaic module market involves monocrystalline, polycrystalline, cadmium telluride, amorphous silicon and copper indium gallium diselenide. Due to longevity, efficiency, operating costs, and embedded energy per panel, the monocrystalline segment will occupy the largest market share in 2020. In 2020, the monocrystalline market segment will dominate the global market with nearly half of the market share.

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In terms of end use, the global solar photovoltaic module market covers residential, commercial and public utilities. Due to the increasing demand for clean electricity and the increase in the number of utility-scale projects, the residential sector will become a leader in 2020. The utility sector will account for more than half of the global market share in 2020.

From a regional perspective, the Asia-Pacific region, followed by North America and Europe, has the highest share in 2020, accounting for nearly three-fifths of the total share, and is expected to maintain its dominant position throughout the forecast period. The Asia-Pacific region is expected to show the fastest compound annual growth rate of 7.7% during the forecast period. The report also talked about the LAMEA region.

The leading companies in the global solar photovoltaic module market analyzed in the study include Thirumalai Chemicals Ltd., Nan Ya Plastics Corporation, Asian Paints Ltd., C-Chem Co. Ltd., Exxon Mobil Corporation, IG Petrochemicals Ltd., Mitsubishi Gas Chemicals Co. . Ltd., Koppers Inc., Polynt Spa, Stepan Company, BASF SE and UPC Technology Corporation.

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Covid-19's impact on the global solar photovoltaic module market • Due to the COVID-19 pandemic, the solar photovoltaic module market is expected to decline. • Due to the lockdown, production and logistics activities are affected, thereby affecting the supply of solar photovoltaic panels. • Social distancing and travel restrictions have also affected the labor supply of the global solar photovoltaic module industry. • China is a major producer of solar photovoltaic panels in the world; the blockade and transportation restrictions imposed by the Chinese government have affected the global production and supply chain of this product.

David Correa Allied Analytics LLP 1 8007925285 Email us here and visit us on social media: Facebook Twitter LinkedIn

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