Market research Future Solar Panels Global Market to Grow at 20.18% CAGR | Page 2

Solar panel market Research Report- Forecast to 2023
1 Summary
The solar panel market is driven by various factors such as increase in solar systems installations and
generous government initiatives and policies that support solar energy generation. This is mainly because,
solar panel power generation is less polluting and produces less carbon emissions when compared with
traditional conventional energy sources such as coal, oil and petroleum. Solar power generation is helping
in the fight against climate change as well as it is acting as a source of power for remote and off grid areas
where still millions of global population lives. However, the growth of the market can be hindered by the
low power generation capacity of the solar panels and increasing stringent regulations on the land used for
solar power generation sites.
Solar Panels Market is expected to grow with the CAGR of approximately 20.18% during the forecast
period.
Key Players:
The key players of solar panel market are Trina Solar Limited (China), Canadian Solar Inc. (Canada), Jinko
Solar Holding Co., Ltd. (China), JA Solar Holdings Co., Ltd. (China), Hanwha Q CELLS Co., Ltd., (South
Korea), ABROS green GmbH (Germany), Yingli Solar (China), SunPower Corporation (U.S.A), Abengoa
Solar (Spain), eSolar, Inc. (U.S.A).
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