PERC Solar Panels Market to Surpass US$ 290 Billion by 2030, Says The Brainy Insights

The government's supporting policies and a number of ongoing projects are anticipated to fuel PERC solar panels market expansion during the projected period. The Asia-Pacific region will hold a significant share of the global market for PERC solar panels because of regional globalization and urbanization.

Newark, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The PERC Solar Panels market was estimated at around 150 billion in 2021, growing at a CAGR of nearly 7.9% during 2022-2030. The market is projected to reach approximately USD 290 billion by 2030.

Owing to the world's growing urbanization and energy demand. PERC solar panels help reduce pollution and reliance on electricity. In the coming years, it is anticipated that additional environmental regulations related to carbon emissions will increase demand for PERC solar panels. "Passivated emitter and rear contact" or "rear cell" are referred to by the acronym PERC. The standard solar cells on the rear of PERC solar panels include an extra layer. PERC batteries are more effective than normal batteries because of the additional layer that allows them to absorb more sunlight and convert it into energy. The University of New South Wales first outlined the PERC approach in 1983, but it wasn't until 1989 that it was formally registered in a paper. PV modules were eventually able to convert more energy than the industry standard of 20%, which had been the norm for a number of years, owing to the PERC solar cell.*Download Free Sample Report (Get Detailed Analysis in PDF – 230+ Pages): https://www.thebrainyinsights.com/enquiry/sample-request/13207**Growth Factors*Due to global urbanization trends and rising energy consumption, the market for mono PERC solar panels has been growing. Solar panels made of mono-PERC material reduce pollution and reliance on electricity. In addition, it is anticipated that increased environmental laws on carbon emissions would increase demand for mono PERC solar panels during the coming several years.Soon, it is also projected that increased government initiatives involving renewable energy in rural and urban regions will increase demand for solar panels. The lifespan of the installed solar PV panels under various climatic circumstances is one of the primary issues faced by the solar photovoltaic system. The potential of solar panels to perform poorly under extreme environmental stress is a problem that must be considered if the worldwide industry is to continue growing.Another significant issue for the sector is the absence of adequate energy storage and maintenance. Typically, solar energy is stored in expensive, high-maintenance batteries. The installation of solar PV panels is more expensive than the installation of other commonly used panels, which presents a challenge for market growth throughout the projection period.*Segmental Overview*The crystalline silicone market segment, which dominated the global market in terms of technology in 2021, is anticipated to have potential expansion over the course of the projection period. The potential market expansion around the world is supported by the increase in demand for solar PV applications in industrial, commercial, and residential settings. Additionally, the high stability and efficiency rate of the crystalline silicone segment fuels its market expansion. With 40% of the worldwide solar PV market, the commercial application has the biggest market share. The commercial segment of the market is growing quickly due to the high demand for solar PV modules in distant locations and commercial buildings. The residential sector consists of housing societies, residential colonies, and a variety of electrical tools. As the world's population continues to rise, there is an enormous increase in demand for housing developments and individual homes. During the forecast period, these factors are anticipated to fuel the residential segment's growth in the worldwide PERC Solar Panels market.*If you have any questions, please feel free to contact our analyst at: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13207**Regional Overview*Throughout the projected period, Asia-Pacific is anticipated to have the largest revenue market share. Due to the region's growing globalization and urbanization, Asia Pacific held the top spot in the global market for mono PERC solar panels in 2019. Investments in the renewable energy sector are increasing quickly in Asia Pacific nations including China, India, and Japan. The largest solar energy installation base is in China. Additionally, it is the world's largest producer of solar panels. This is expected to fuel the market for mono PERC solar panels in the area.Due to large investments made in the region's renewable energy industry, Europe also represented a significant portion of the global market for mono PERC solar panels in 2019. To meet the renewable energy target set by the European Union, nations in the region are working to generate energy using solar panels. The area is concentrating on using less fossil fuel and switching to green energy in order to achieve carbon neutrality by 2030. During the projection period, North America is likely to hold a significant market share for mono PERC solar panels worldwide. The area is developed, and investments in various renewable energy sources are being made.During the projected period, the Middle East and Africa market is anticipated to grow at a healthy pace. The region is putting a lot of effort into growing its renewable energy industry. Desalination plants and district cooling/heating are being integrated with solar energy.*Report Scope*Base Year 2021
*Forecast period* *2022-2030*
*Report Coverage      * *Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends*
*Regional scope* *North America, Europe, Asia Pacific, Middle East & Africa, and Latin America*
*Market Size(unit)* *USD Billion*
*PERC Solar Panels Market CAGR* *7.9%*
*Segments Covered* *By Type*
*By Application**List of the prominent players in the Global PERC Solar Panels market:*• Adani Group
• Solar Solutions GmbH
• ALPHA SOLAR PLANET GMBH.
• Shenzhen Ahony Power Co.,Ltd.
• Alfa
• Beyond Solar
• Evolve Energy Group
• Trina Solar
• Amerisolar
• JA SOLAR Technology Co.,Ltd.
• Jiangsu Akcome Science & Technology Co., Ltd.
• BAUER Energiekonzepte GmbH*The global PERC Solar Panels market is segmented as follows:*By Type• Monocrystalline
• PolycrystallineBy Application• Residential
• Commercial
• IndustrialBy Region/Geography• North Americao The U.S.
o Canada
o Mexico• Europeo France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe• Asia Pacifico China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific• The Middle East & Africao Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa• Latin Americao Brazil
o Argentina
o Rest of Latin America*Any query or customization before buying: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13207**About the report:*The global PERC Solar Panels market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.*About The Brainy Insights:*The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.*Contact Us*Avinash D
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