LONDON--(BUSINESS WIRE)--According to the market research report released by Technavio, the global solar PV systems market is expected to post a CAGR of nearly 21% during the forecast period. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
This research report titled ‘Global Solar PV Systems Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global solar PV systems market into the following end-users:
- Utility
- C&I
- Residential
In 2016, the utility segment accounted for 47% of the global market. However, this segment is projected to decline by 2021.
Global solar PV systems market: Top emerging trend
Floating solar PV plant is an emerging trend in the solar PV systems market space. One of the major challenges in the adoption of solar power systems is the large land space required for their installation. Countries worldwide are looking to save space while increasing the power generated from renewable sources, such as solar and wind. This has led to the increase in installation of solar panels on water bodies, such as dam reservoirs and canals. For instance, in June 2017, a 40-MW floating solar power plant became operational in China. To generate clean electricity for the city, the deployment of solar panels on water aid in conserving fresh water by lowering the amount of evaporation. The water helps to keep the ambient temperature near the solar panels low, thus enhancing their efficiency and lowering long-term heat-induced degradation.
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Technavio’s report provides expert market research on the following topics:
Executive Report
- Market Outline
- Global Solar PV Systems Market Overview
Market Insights
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by end-user (utility, C&I, and residential)
Vendor Landscape
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Huawei Technologies, JinkoSolar, SMA Solar Technology, SUNGROW, Trina Solar)
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