WILMINGTON, DE , UNITED STATES, June 14, 2024 /EINPresswire.com/ — The solar photovoltaic installations market was valued at $131,818 million in 2016, and is projected to reach $393,594 million by 2023, growing at a CAGR of 17.4% from 2017 to 2023. The crystalline silicon solar photovoltaic segment accounted for maximum share of total market share in 2016.
Solar photovoltaics are power systems designed to supply usable power by means of photovoltaics, which includes the arrangement of certain solar panels that absorb and convert sunlight into electricity. Solar cells are tightly packed behind a glass sheet to protect them from the environment. Photovoltaic cells are internally connected together to form a photovoltaic module. The number of cells that are interconnected are dependent on the type of application. The solar trackers are deployed efficiently on the solar panel to improve the efficiency of the solar cell. The efficiency is improved by approximately 20% in winters and 50% in summers by deployment of solar tracker.
๐๐๐๐๐ฌ๐ฌ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐๐๐ญ๐ฎ๐ซ๐ข๐ง๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-sample/3499
The crystalline silicon solar photovoltaic segment accounted for the maximum share, in terms of volume, in 2016. Moreover, crystalline silicon is the widely used material in production of solar modules and witness strong demand in countries such as China and Japan owing to the strong development of the residential rooftop segment and increased demand for high-efficiency products. In addition, monocrystalline technology is expected to witness strong growth owing to technological advancements and greater solar efficiency.
In 2016, Europe accounted for nearly half of the total solar photovoltaic installations market, and is expected to continue this trend, owing to rapid solar photovoltaic installations, specifically in developing countries.
๐๐จ๐ฅ๐๐ซ ๐๐ก๐จ๐ญ๐จ๐ฏ๐จ๐ฅ๐ญ๐๐ข๐ (๐๐) ๐๐ง๐ฌ๐ญ๐๐ฅ๐ฅ๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
๐๐ฒ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ
Thin Film
Crystalline
Monocrystalline
Microcrystalline
Others
๐๐ฒ ๐๐ซ๐ข๐ ๐๐ฒ๐ฉ๐
Grid Connected
Centralized
Decentralized
Off Grid
๐๐ฒ ๐๐ง๐-๐๐ฌ๐
Residential
Commercial
Utility Scale
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/3499
๐๐ฒ ๐๐๐จ๐ ๐ซ๐๐ฉ๐ก๐ฒ
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Korea
Rest of Asia-Pacific
LAMEA
Brazil
Chile
South Africa
Rest of LAMEA
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐ง ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/bba82deb2c411f0955894ea184364a33
The major companies profiled in the report include Trina Solar Ltd, Canadian Solar Inc, JA Solar, First Solar Inc, Jinko Solar Holding Company Ltd, Yingli Green Energy Holding Co. Ltd, Renesola, Sun Power Corporation, Solar World AG, and Mitsubishi Electric Corporation.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐จ๐ฅ๐๐ซ ๐๐ก๐จ๐ญ๐จ๐ฏ๐จ๐ฅ๐ญ๐๐ข๐ (๐๐) ๐๐ง๐ฌ๐ญ๐๐ฅ๐ฅ๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐๐ซ๐ค๐๐ญ:
In terms of value, the mono-crystalline solar photovoltaic segment is anticipated to exhibit the highest growth rate of 18.3% during the analysis period.
Asia-Pacific is anticipated to lead the market in 2023, and is projected to grow with a CAGR of 20.0%, in terms of value.
The utility scale type segment occupied nearly half of the total market in 2016.
Germany occupied nearly half of the total Europe solar photovoltaic installations market in 2016.
In terms of value, Japan is expected to grow at a CAGR of 19.4% from 2017 to 2023.
David Correa
Allied Market Research
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