The APAC solar panel market is expected to grow at a high CAGR during 2018-2023. A variety of factors such as environmental concern, lack of oil and gas resources, and demand for energy due to the rise in population are driving the APAC solar panel market. Increased carbon emission due to fossil fuel and the need for unlimited clean energy are reasons behind the growth of the APAC solar panel market. Government as well as other big players are investing in the market and government incentives are another motivating factor in this region. Competition with a well-established oil and gas market and lack of proper energy storage and energy transportation facility is a major restraint of market which hindered the growth of the APAC solar panel market. China is the leading market in the APAC region. In 2016, the cumulative photovoltaic capacity of China was increased by 34 gigawatts (GW) and reached at 77 GW. The region has as many diversified solar policy environments as its number of countries.
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APAC solar panel market can be segregated geographically into China, India, Japan, South Korea, Thailand, Taiwan and Rest of APAC. According to OMR analysis for Solar Panel 2016-2022, China and India are projected to contribute highest in APAC Solar panel markets in 2022 followed by Japan, South Korea, Thailand which dominated the regional solar sector in 2015. Among the other emerging markets in the APAC region, South Korea is a major center for the development of solar technologies and the manufacture of modules, although the country is not a major consumer of solar modules due to its small geographic size.
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The report includes a detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, solar panel market analysis, strategic recommendations, key company analysis, key findings, market insights, analyst insights and predictive analysis of the market.
The key players in the APAC solar panel market include Canadian Solar, China Sunergy, DelSolar, Evergreen Solar, First Solar, Hanwha SolarOne, JA Solar, Jinko Solar, Juwi Holding AG and others. In 2017, Yingli agreed to supplies all solar panels for a 38.4 MW PV poverty alleviation project in china.
APAC solar panel market is segmented on the basis of type, end-users, and regional outlook. On the basis of type, the solar panel market is segmented into a monocrystalline PV module, polycrystalline PV module, and thin-film PV module. In solar panel type polycrystalline solar panel is the predicted to be a thefastest growing segment of the APAC solar panel market by type. This growth is majorly attributed to the high efficiency of polycrystalline solar panels. On the basis of the end user, the solar panel market is segmented into household, industrial, corporate and other.
MARKET SEGMENTATION
BY TYPES
- MONOCRYSTALLINE SILICON SOLAR PV MARKET
- POLYCRYSTALLINE SILICON SOLAR PV MARKET
THIN-FILM SOLAR PV MARKET
- AMORPHOUS SILICON (A-SI)
- CADMIUM TELLURIDE (CDTE)
- COPPER INDIUM GALLIUM SELENIDE (CIS/CIGS)
OTHER MARKET
BY END USER
- HOUSEHOLD SECTOR
- INDUSTRIAL SECTOR
- CORPORATE SECTOR
- OTHER
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