Anticipating Asia-Pacific Solar Photovoltaic Materials Market Size, Trends, and Share for 2028: Insights from Leading Key Players
MarkNtel Advisors has thoughtfully curated the Asia-Pacific Solar Photovoltaic Materials Market Research Report, taking into account our client's distinct needs. Our research offers a thorough examination of the present regional and global market conditions. This report on industry analysis extensively encompasses market dynamics, limitations, and their potential consequences on future market requirements, presenting a comprehensive overview of the sector.
What is the projected growth rate of the Asia-Pacific Solar Photovoltaic Materials Market during the forecast period?
The Asia-Pacific Solar Photovoltaic Materials market is projected to grow at a CAGR of around 10.2% during the forecast period, i.e., 2023-28.
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Asia-Pacific Solar Photovoltaic Materials Market Key Driver:
Growing Focus on the Solar Power Projects to Fuel the Demand - Asia-Pacific region is witnessing a rapid increase in urban population, with a noticeable number of people migrating from sub-urban to urban places. This upsurge in urbanization & industrialization has led to a rise in the demand for electricity, for which the region has been dominantly dependent on fossil fuels such as coal, petroleum, natural gas, etc. Further, fossil fuel resources are severely exhausted during the past few years, which has been encouraging governments across different countries of the region to shift towards a renewable source of energy. Hence, to cope with the challenges & meet the carbon-neutrality targets of both the public & private sectors, the proclivity towards sustainable sources of energy has grown. This has resulted in the deployment of many large-scale solar power projects, subsequently enhancing the demand for solar photovoltaic panels on a large scale during 2018-2022.
Furthermore, with the advancing development in the urban areas of countries like India, China, Australia, etc., the electricity demand is expected to be enhanced exponentially in the coming years, which would stress the need for expanding power generation infrastructure. Hence, various significant solar power projects are lined up to construct & commence operations in the forecasted years, which would boost the growth of the Solar Photovoltaic materials market in the Asia-Pacific during 2023-2028.
Segmentation Analysis of Asia-Pacific Solar Photovoltaic Materials Market:
The report has segmented the market into the following categories:
- By Material
- Silicon
- Polycrystalline Silicon
- Monocrystalline Silicon
- Thin Film Photovoltaics
- Cadmium Telluride (CdTe)
- Copper Indium Gallium Selenide (CIGS)
- Concentrator Photovoltaics
- Others (Organic Photovoltaics, Multijunction Photovoltaics, etc.)
- By Technology
- Half-Cell (HC) Technology
- Multi-Busbar (MBB) Technology
- Bifacial Technology
- Passivated Emitter and Rear Cell (PERC) technology
- Others (Tiling Ribbon Technology, N-Type Technology, etc.)
- By Power Output Range
- Less than 300 Watts
- 300-400 Watts
- 401-500 Watts
- Above 500 Watts
- By Application
- Residential
- Commercial
- Utility
- By Country
- China
- India
- Japan
- South Korea
- Australia
- Southeast Asia
- Rest of the Asia-Pacific
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Competitive Landscape with Key Player:
- Jinko Solar
- Trina Solar
- BASF SE
- DuPont
- Shin-Etsu Chemical Co. Ltd
- Ferrotech Corporation
- Wacker Chemie AG
- Okemetic
- GCL-Poly Energy Holdings Ltd.
- Motech Industries Inc.
- Lanco Solar
- Great Solar Materials
- Others
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