LONDON--(BUSINESS WIRE)--The solar PV backsheet market is expected to grow by USD 2.06 billion during 2020-2024. The report also provides competitive insights into the market impact and new opportunities created due to the COVID-19 pandemic. According to the latest market research report by Technavio, the impact is going to be significant in the first quarter. It will eventually lessen the subsequent quarters – with a limited impact on the full-year economic growth.
Request challenges and opportunities influenced by COVID-19 pandemic - Download Free Sample Report on COVID-19 Impacts
The application of thin-film solar PV modules is gaining popularity as they offer improved flexibility and cost lower in comparison to other solar PV modules. Backsheets are used to boost the efficiency of performance of thin-film solar PV modules by providing a high vapor barrier. These backsheets have properties such as reflectance, dielectric strength, and durability. The increasing use of thin-film solar PV modules is identified as one of the critical reasons that will drive the solar PV backsheet market growth. As thin-film solar PV modules are flexible in nature, they are also used to make building-integrated photovoltaics (BIPVs) systems. BIPVs can be installed on the sides or on the rooftop of buildings as they maximize the surface area of the receiving solar panel.
As per Technavio, the rising investments in renewables will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44547
Solar PV Backsheet Market: Rising Investments in Renewables
With high support from governments, there has been an increase in the adoption of renewable sources of energy. The renewable energy sector is witnessing growth due to favorable regulations, subsidies provided by various governments, and competitive prices of power generation. This, in turn, will boost solar power installations and directly influence the demand for solar PV backsheets. The rising investments in renewables will drive the solar PV backsheet market in the forthcoming years.
Register for a free trial today and gain instant access to 17,000+ market research reports
Technavio's SUBSCRIPTION platform
Solar PV Backsheet Market: Segmentation Analysis
This market research report segments the solar PV backsheet market by Product (Fluoropolymer and Non-fluoropolymer) and Geography (APAC, Europe, North America, South America, and MEA).
APAC was the largest solar PV backsheet market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The adoption and implementation of microgrids, declining cost of solar power generation, and a shift in focus toward renewables will significantly drive solar PV backsheet market growth in this region over the forecast period. China and Japan are the key markets for solar PV backsheet in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
Market Challenges
Market Trends
Market Drivers
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
