Global Crystalline Silicon Solar PV Modules Market 2018-2022| Key Insights| Technavio
LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/Energy?src=hash" target="_blank"gt;#Energylt;/agt;–The global crystalline silicon solar PV modules market is expected to
post a CAGR of over 21% during the period 2018-2022, according to
the latest market research report by Technavio.
However, the growth momentum of the market is expected to decelerate due
to a decline in the year-over-year growth.
A key factor driving the growth of the market is favorable government
regulations. Fossil fuels are the most widely sources of power
generation due to their natural abundance. However, GHG emissions from
fossil fuels are significant challenges for environmental
sustainability. The use of alternative energy sources, such as solar PV,
wind power, and hydropower, is necessary to reduce emissions.
Governments across the world support the adoption of solar PV systems
through subsidies, tax benefits, and incentives to consumers and
This market research report on the global
crystalline silicon solar PV modules market 2018-2022 also
provides an analysis of the most important trends expected to impact the
market outlook during the forecast period. Technavio classifies an
emerging trend as a major factor that has the potential to significantly
impact the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time
market snapshot before purchasing
In this report, Technavio highlights the increased adoption of
microgrids as one of the key emerging trends in the global crystalline
silicon solar PV modules market:
Global crystalline silicon solar PV modules
market: Increased adoption of microgrids
A microgrid is a small-scale power grid that has its own generation and
storage resources. Microgrids can function independently or
collaboratively with other small power grids. A microgrid becomes a
hybrid microgrid when it is integrated into the main power grid. A
microgrid can connect and disconnect from the power grid to operate in
both grid-connected and island modes. A microgrid can shift to island
mode when there is an outage on the main power grid or if the system is
disconnected from the main grid intentionally.
“Power grids are not always stable. Microgrids play a crucial role in
areas where power outages are frequent, this is due to unstable power
grids. Microgrids are used in villages. where grid-connected power is
not accessible or has limited availability. They can function
autonomously or operate parallelly with conventional grids. They are
more reliable as they are unaffected by power outages in the main grid.
They also reduce the cost of extending the grid to remote locations.
Microgrids may generate power from renewable sources, such as solar and
wind power,” says a senior analyst at Technavio for research on
Global crystalline silicon solar PV modules
market: Segmentation analysis
This market research report segments the global crystalline silicon
solar PV modules market by product (monocrystalline and polycrystalline)
and geographical regions (APAC, EMEA, and the Americas).
The monocrystalline segment held the largest market share in 2017,
accounting for over 68% of the market. This product segment is expected
to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 81%. This
region is expected to dominate the market through 2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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