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Global Crystalline Silicon Solar PV Modules Market 2018-2022| Key Insights| Technavio

January 2, 2019

LONDON--(BUSINESS WIRE)--Jan 2, 2019--The global crystalline silicon solar PV modules market is expected to post a CAGR of over 21% during the period 2018-2022, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.

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Technavio forecasts the global crystalline silicon solar PV modules market to post a CAGR of over 21% by 2022 (Graphic: Business Wire)

A key factor driving the growth of the market is favorable government regulations. Fossil fuels are the most widely sources of power generation due to their natural abundance. However, GHG emissions from fossil fuels are significant challenges for environmental sustainability. The use of alternative energy sources, such as solar PV, wind power, and hydropower, is necessary to reduce emissions. Governments across the world support the adoption of solar PV systems through subsidies, tax benefits, and incentives to consumers and producers.

This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio highlights the increased adoption of microgrids as one of the key emerging trends in the global crystalline silicon solar PV modules market:

Global crystalline silicon solar PV modules market: Increased adoption of microgrids

A microgrid is a small-scale power grid that has its own generation and storage resources. Microgrids can function independently or collaboratively with other small power grids. A microgrid becomes a hybrid microgrid when it is integrated into the main power grid. A microgrid can connect and disconnect from the power grid to operate in both grid-connected and island modes. A microgrid can shift to island mode when there is an outage on the main power grid or if the system is disconnected from the main grid intentionally.

“Power grids are not always stable. Microgrids play a crucial role in areas where power outages are frequent, this is due to unstable power grids. Microgrids are used in villages. where grid-connected power is not accessible or has limited availability. They can function autonomously or operate parallelly with conventional grids. They are more reliable as they are unaffected by power outages in the main grid. They also reduce the cost of extending the grid to remote locations. Microgrids may generate power from renewable sources, such as solar and wind power,” says a senior analyst at Technavio for research on power.

Global crystalline silicon solar PV modules market: Segmentation analysis

This market research report segments the global crystalline silicon solar PV modules market by product (monocrystalline and polycrystalline) and geographical regions (APAC, EMEA, and the Americas).

The monocrystalline segment held the largest market share in 2017, accounting for over 68% of the market. This product segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with a market share of nearly 81%. This region is expected to dominate the market through 2022.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20190102005350/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY UTILITIES OTHER ENERGY

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 01/02/2019 09:39 AM/DISC: 01/02/2019 09:38 AM

http://www.businesswire.com/news/home/20190102005350/en

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