Photovoltaic (PV) Materials Market is appraised to be valued at USD 20.0 Billion by 2025, High CAGR of 7.5% during the review period, Global Photovoltaic Materials Market by Type, Material, End-Use and Region
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Market Highlights
Photovoltaic is a technology to convert sunlight into electricity. The term photo means light and voltaic means energy. Photovoltaic is also known as solar cells. The most used cell type today are silicone PV as they are low in cost. The PV cell produces upto 2 watts of power. To increase the power output many PV cells are connected together to form moduels which are future arranged into larger unit called arrays these will future be used in various end-use industries such as utility, commercial and residential.
Global Photovoltaic Materials Market: Segmental Analysis
The global photovoltaic materials market has been segmented on the basis of type and end-user.
By mode of type, the global photovoltaic materials market has been segmented into thin film, crystalline materials, and others. Among these, crystalline materials are predicted to occupy a major share owing to abundance of raw materials and its easy manufacturing process.
By mode of end-users, the global photovoltaic materials market has been segmented into commercial, residential, and utility. Among these, the utility segment is predicted to occupy a significant share in the market. Government across the world committing to minimize carbon emissions and rising focus on renewable energy are some of the factors favoring the growth. The segment is soon likely to lose its market share due to the increasing number of commercial and residential solar installations.
Regional analysis:
The Asia-Pacific photovoltaic material market is expected to grow due to growing application industry. China consumes largest market share in global photovoltaic material market. The report estimates the size of the photovoltaic material market, both in terms of volume and value. Other regions like India, Indonesia and Brazil are expected to drive the demand owing to lenient regulations by government in setting up industries and producing large amounts of products to meet growing population demand.
North America is expected to grow at faster pace, the U.s and Canada are anticipated to have a largest share due to industrial development and government regulations. In Europe, UK and Germany are key contributiors for this region, photovoltaic material market size is growing due to government policies and increase in use of renewable sources. High electricity price and government subsidies over solar energy is likely to positively drive the market in Middle East and Africa region.
Study Objectives of Photovoltaic Materials Market
- To study detail of photovoltaic materials market by type, by application and by region in forecasted period 2022.
- To identify the market dynamics of photovoltaic materials market dynamics by drivers, restrains, opportunities and challenges.
- To analyze various factors like value chain analysis and porters five forces model.
- To provide historical and forecast revenue of market segment with respect to North America, Europe, APAC and RoW.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track mergers and acquisitions, strategic alliances, new product development of specified company.
Intended Audience
- Manufacturers and distributors of photovoltaic materials.
- Suppliers and traders of photovoltaic materials.
- Government, associations and industrial bodies.
- Investors and Trade experts.
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