Zion Market Research, the market research group announced the analysis report titled 'Solar Photovoltaic Material Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016-2024'
Sarasota, FL -- (SBWIRE) -- 04/16/2018 -- Global Solar Photovoltaic Material Market: Overview
Solar photovoltaic materials are majorly utilized in the production of modules or solar panels which are installed for producing electrical energy. Solar photovoltaic materials are mainly of two kinds thin film and crystalline. Crystalline is further bifurcated into gallium arsenide and polycrystalline, while the thin film is of three kinds specifically cadmium telluride, amorphous silicon, and copper indium diselenide.
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Global Solar Photovoltaic Material Market: Growth Factors
The increasing concerns with regards to the environmental issues owing to the rising use of conventional energy sources for instance; oil and coal are the major aspects of the acceptance of solar energy. The growing greenhouse gas emission and carbon footprint are encouraging customers to demand clean energy, in turn driving the demand and popularity for the solar photovoltaic material market. The research activities carried out to find out new materials along with power conversion effectiveness and low production price are likely to strengthen and drive the growth of the global solar photovoltaic materials market in the coming years. In addition, rules and regulations executed by the governments to decrease the carbon emission are assisting and increasing market expansion globally.
Solar photovoltaic modules can be set up at commercial, utility, and residential scales. Volatility in crude oil cost, the ecological concern of hydropower, and the threat of nuclear radiation mishaps in nuclear power plants offer a great prospect for solar power to overcome the growing demand of energy in the next few years. This would have a constructive impact on the development of the global solar photovoltaic material market.
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Global Solar Photovoltaic Material Market: Segmentation
Based on technology, the global solar photovoltaic material market is classified into concentrated solar power systems (CSP) and photovoltaic cells. Photovoltaic cells are additionally divided into organic cells and inorganic, while CSP systems are sub-divided into solar power towers, parabolic troughs, and others. On the basis of solar module, the market is categorized into cadmium telluride silicon cells, monocrystalline silicon cells, amorphous silicon cells, polycrystalline silicon cells, and others. Based on generation, the solar photovoltaic material market is categorized into 1st, 2nd, and 3rd generation.
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Global Solar Photovoltaic Material Market: Regional Analysis
The Asia Pacific is anticipated to be the main contributor to the global solar photovoltaic material market with maximum share. Owing to the high demand and popularity for solar photovoltaic installations in the power production sector and in producing electrical energy from renewable sources, the solar photovoltaic material market in the Asia Pacific is anticipated to remain on the top in the coming years. China is the main domestic market for solar photovoltaic materials in Asia Pacific. North America is also expected to be the major regional market for solar photovoltaic materials. Based on the exponential expansion in the power industry sector based on renewable energy production, North America is projected to experience an escalating demand for the solar photovoltaic materials in the next few years. The markets for solar photovoltaic materials in the Middle East and Africa, Europe, and Latin America are also anticipated to witness stable development in the coming future.
Global Solar Photovoltaic Material Market: Competitive Players
Some of the most important market players in the global solar photovoltaic material market are Tata Power Solar, Acciona Energia S.A., Abengoa Solar S.A., Bright source Energy Inc., Wuxi Suntech Power Co. Ltd., Gintech Energy Corp., Esolar Inc., Kaneka Corp., Canadian Solar Inc., Sunpower Corporation, among others.
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