Asia-pacific solar panel market is anticipated to grow at a considerable CAGR during the forecast period (2021-2027). The increasing number of solar panel project developments with collaboration in key market players driving the growth of the Asia-Pacific solar panel market. For instance, in February 2020, Canidian Solar Inc, one of the leading companies in solar power generation, had constructed two solar photovoltaic(PV) projects in Japan. The first project with a capacity of 13.6 MWp was projected in the Ibaraki Prefecture, with a power generation of approximately 15,901 MWh. Similarly, the second project with 13.0 MWp and power generation of approximately 15,250 MWh is projected in the Fukuoka Prefecture. The company expects to project both the plants on a commercial level by mid-2021.
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Besides, in August 2020, the company had announced the construction of commercial and industrial rooftop solar projects in Malaysia. The construction of the project had been taken with the collaboration of Antah Solar Sdn. Bhd. and Eleaps Sdn. Bhd., (service provider of solar panel installation) The project has been powered by 13,000 pieces of Canadian Solar’s high-efficiency KuMax modules. According to the company, the project tends to generate approximately 6,700 MWh of energy every year up to 25 years. Considering these project expansions, significant growth can be expected in the Asia-Pacific solar panel market during the forecast period.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered- By Panel Type, By End-User, By Installation
· Countries Covered- China, India, Japan, Rest of Asia-Pacific
· Competitive Landscape- Canadian Solar Inc., Wuxi Suntech Power Co., Ltd., Tata Power Solar Systems Ltd, First Solar, Inc. SunPower Corporation, Trina Solar Ltd., Juwi AG, Motech Industries, Inc., Hanwha Group, and others.
Key questions addressed by the report
· What is the market growth rate?
· Which segment and region dominate the market in the base year?
· Which segment and region will project the fastest growth in the market?
How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
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Asia-pacific Solar Panel Market Report Segment
By Panel Type
· Monocrystalline
· Polycrystalline
· Thin-film
By End-User
· Residential Sector
· Commercial Sector
By Application
· Ground-Mount
· RoofTop
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
