Solar PV Market in Asia 2015 to grow at a CAGR of 23.7% by 2019: Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 09/21/2015 -- Solar PV Market in Asia 2015-2019
PV is a method of generating electricity through the conversion of solar radiation using semiconductors that exhibit the PV effect. Solar PV market in Asia to grow at a CAGR of 23.7% over the period 2014-2019. PV power generation uses solar panels composed of several solar cells containing a PV material. Materials presently used for PV include mono-c-Si, poly-c-Si, a-Si, CdTe, and copper indium gallium selenide/sulfide. The conventional way of power generation through fossil fuels is continuously depleting and also causes environmental damage. Therefore, eco-friendly renewable methods of power generation such as PV have become popular over the last decade. PV power is generated by the mono-c-Si method, which is the most efficient and least expensive approach. PV power is a good option because its source, solar energy, is free, and even the maintenance cost is negligible.
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Covered in this Report
This report covers the present scenario and the growth prospects of the Solar PV market in Asia for the period 2015-2019. To calculate the market size, the report considers the cumulative installed capacity of solar PV in the following Asian countries:
The report provides the market segmentation by end-users, which are the Utilities, Commercial, Residential, and Off-grid sectors.
Solar PV Market in Asia 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers five major countries; it also covers the landscape of the Solar PV market in Asia and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
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Commenting on the report, an our analyst said: "One of the major trends in this market is the increase in awareness about the technology. Various national authorities across the globe are encouraging companies to manufacture PV modules."
According to the report, one of the major drivers of this market is the increase in government support. There has been a continuous increase in government support in terms of FIT and PPA. Moreover, there are several other factors that are driving the growth of this market.
AU Optronics (BenQ Solar)
Hangzhou First PV Material
Shunfeng Photovoltaic International
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Other Prominent Vendors
Yingli Green Energy
Further, the report states that the uncertainty in policies is a significant threat to market vendors. This leads to delays in project approvals resulting in increased costs and installation time.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.