The major players in the photovoltaic solar panel manufacturing market are Trina, Canadian Solar, Jinko, Hanwha Q-Cell and SunPower. The global market for photovoltaic solar panel manufacturing is expected to grow by $ 164.
New York, September 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Solar Photovoltaic Panel Manufacturing Market Report 2021: The Growth and Change of COVID-19 for 2030” – https://www.reportlinker.com/p06151574/?utm_source=GNW
$ 52 billion in 2020 to $ 180.76 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The growth is mainly due to companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 298.56 billion in 2025 at a CAGR of 13.4%.
The photovoltaic solar panel manufacturing market consists of the sale of photovoltaic solar panels for residential or commercial purposes. Photovoltaics (PV) is the technology to convert sunlight into electricity using semiconductors found in photovoltaic cells.
These photovoltaic cells are interconnected to form an array and are mounted on a frame. When photovoltaic cells receive the sun’s rays, electrons in semiconductors are released and their movement generates an electric current.
These photovoltaic cells are packaged behind glass to form photovoltaic modules with an average lifespan of 20 to 40 years.
The Solar PV Panel Manufacturing market covered in this report is segmented by Thin Film Technology, Crystalline Silicon, Others (Organic & Concentrator PV). It is also segmented by residential, commercial, large-scale end-use and type of network connected, off-grid network.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
The growth of the solar photovoltaic (PV) panel manufacturing market is constrained by unfair trade and commerce practices in the market. Unfair trading practices hamper the growth of local industries as well as industries that trade globally.
For example, the entry and sale of Chinese-made photovoltaic solar panels in the North American and European markets at extremely low prices has led to complaints of unfair trading practices. In the United States, the Trump administration imposed a 30% one-year tariff on the import of photovoltaic solar cells to compensate for unfair trade practices, In Europe, the European Commission and major Chinese manufacturers have reached an agreement on minimum prices and shipping volume.
In addition, to limit losses due to unfair trade practices, the US Department of Commerce has imposed anti-dumping and anti-subsidy duties on solar photovoltaic modules from China.
The photovoltaic solar panel manufacturing market is experiencing a number of important trends focused on improving the rate of electricity generation from the panels. Manufacturers of photovoltaic panels are turning to monocrystalline cell technology from the most common multicrystalline cells and modules. the photovoltaic solar panel manufacturing industry.
These cells form the building block of photovoltaic panels. Monocrystalline panels have high power output, occupy less space and last a long time due to the formation of cells in these panels allows more freedom for electrons to move, resulting in higher efficiency compared to cells multicrystalline.
Many major developers in the photovoltaic solar panel manufacturing market have already increased their production of monocrystalline panels. For example, monocrystalline solar, with an overall growth rate of 11.1%, is expected to reach $ 20.5 billion in 2020-2027, marking the emerging trend. Companies such as LONGi Solar, a subsidiary of LONGi Green Energy Technology, dominate the market for manufacturers of monocrystalline solar modules. The company has seen increased sales in the segment of high efficiency monocrystalline panel modules. In addition, companies such as LG Solar and JinkoSolar have also started to invest more in the manufacture of photovoltaic solar panels with monocrystalline cell technology.
The entities in the photovoltaic solar panel manufacturing market must comply with the regulatory framework decided by the government of the geographic region in which they operate. These regulations are created to promote transparency, good faith and understanding between market players.
The Solar Energy Industries Association is one such regulatory body that provides guidance to industries in the solar energy industry in the United States. The SEIA Solar Business Code provides guiding principles enabling companies to conduct their business without unfair, deceptive or abusive acts or practices, guidelines for advertising the company’s solar products, guidelines for sales and marketing of the company. company, and regarding the ownership of the Renewable Energy Certificate (“REC”).
In March 2020, LONGi Solar, a Chinese manufacturer of high-efficiency monocrystalline solar cells and modules, acquired Ningbo Jiangbei Yize New Technology for $ 252.8 million. Thanks to this acquisition, LONGi Solar brings the production capacity to more than 10 GW. Ningbo Jiangbei Yize New Technology, a China-based solar energy manufacturer that develops, manufactures and distributes solar photovoltaic products.
Supportive government initiatives such as tax subsidies and huge investments are driving the growth of the photovoltaic solar panel manufacturing market. kilowatt) of electricity production from photovoltaic cells by March 31, 2022.
To achieve this goal, the Indian government is encouraging the production of photovoltaic solar cells through huge investments and policies which directly or indirectly influence the market for the manufacture of solar photovoltaic panels. For example, the Indian government has earmarked $ 0.71 billion (5,000 crore) for solar subsidies. The Jawaharlal Nehru National Solar Mission program is implemented by IREDA (Indian Renewable Energy Development Agency Ltd.) through NABARD (National Bank for Agriculture and Rural Development). The program provides a 40% subsidy on the investment costs of solar PV systems for units located in both urban and rural areas of India. India is also backed by the Asian Development Bank (ADB), which announced a $ 500 million grant for rooftop photovoltaic solar panel systems, which will help the Indian government increase its penetration of renewable energy. using solar energy. Another such example is the Swedish government, under Regulation No 2009: 689, which allows grants for the installation of on-grid photovoltaic panels which started in July 2009 or later and are expected to be completed by December 31, 2020.
The International Electrotechnical Commission set of guidelines for photovoltaic solar panel manufacturers was published IEC 61730, in October 2004. The guidelines were updated in the second edition of IEC 61730, published in August 2016.
The updated set of guidelines includes consideration of environmental factors that affect panel efficiency as well as factors that influence module insulation requirements (material used), type of installation, location of the installation, the degree of pollution and the surges that may appear in the system.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and United States.
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