A comprehensive overview of the Asia-Pacific solar energy panels market is recently added by UnivDatos Market Insights to its humongous database. The Asia-Pacific solar energy panels market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Asia-Pacific solar energy panels market. The Asia-Pacific solar energy panels market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Asia-Pacific solar energy panels market at the country levels. The Asia-Pacific Solar Energy Panels Market is expected to grow at a CAGR of X% from 2021-2027 to exceed US$ X billion by 2027.
The Asia-Pacific solar energy panels market is expected to witness a boost on account of the rising demand for clean energy as there are rising incidences of deaths due to pollution caused primarily due to fossil fuel combustion. For instance, in 2018, 8.7 million premature deaths were caused because of air pollution due to fossil fuel combustion. Death rates were especially high in Eastern Asia, where an average of 30.7% of adult deaths was attributable to fine particulate matter (PM2.5) generated by the burning of fossil fuels such as coal.
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Furthermore, the surging demand for green energy is also supported by increasing investment in renewable energy that in turn is leading to an increase in the number of solar projects across the region. In Japan, 10 projects with a total value of USD 3 billion will produce energy in the region, over the five years. For example, the construction of the Ukujima Mega Solar Park in Japan started in 2019 will have a power capacity of 400MW. The power plant will be connected via high voltage submarine cable to the electricity grid at Ainoura S/S which is nearly 65 km away. This project will cover significantly 25% of the island and is expected to be completed by 2023.
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The pandemic brought the world to a standstill as lockdown restrictions have resulted in disruption of supply chains, delaying in projects and shortage of labor. All industries have suffered some form of loss due to the pandemic and the solar sector has not been left untouched by this unprecedented crisis of modern times. This industry has its own share of challenges due to COVID-19 pandemic such as manpower shortage, lack of parts or equipment’s supply owing to the interrupted supply chain. Currently, the solar industry imports almost 80% for its major solar value chain supplies from China. These supplies have been drastically affected due to the pandemic as many manufacturing capacities of China and other major ship container companies had also stopped functioning out of Chinese ports and transporting goods from China to other countries, including India.
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Asia-Pacific solar energy panels market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Technology, the market is primarily segmented into
The monocrystalline segment generated revenue of US$ X billion in 2020 and is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of US$ X billion by 2027.
By Deployment, the market is primarily segmented into
Amongst deployment, the rooftop solar segment of the Asia-Pacific solar energy panels market was valued at US$ X billion in 2020 and is likely to reach US$ X billion by 2027 growing at a CAGR of X% from 2021-2027.
By End-User, the market is primarily segmented into
The industrial segment generated revenue of US$ X billion in 2020 and is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of US$ X billion by 2027 owing to the growing demand for energy by this sector.
Asia-Pacific Solar Energy Panels Market Geographical Segmentation Includes:
Based on the estimation, China dominated the Asia-Pacific solar energy panels market with almost X% revenue share in 2020 owing to the wide adoption of renewable energy sources as rising air pollution in the country is causing serious to human lives and economy. For instance, as per the clean air counter tracker, since January 2020, air pollution has caused nearly 49,000 deaths and USD 23 billion in economic losses in the cities of Beijing and Shanghai.
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The major players targeting the market includes
The degree of competition among prominent global companies has been elaborated by analysing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Asia-Pacific solar energy panels market. The leading players have been analysed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
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