Solar PV Module is an association of photovoltaic cells, also known as solar cells. A solar PV module is considered to be an essential component for any PV system that helps the user to convert sunlight directly into direct current electricity. Moreover, solar PV systems help to deliver affordable, clean and safe electricity to people. The volatile fuel prices and environmental concerns are the key factors pertaining to towards the growth of solar PV modules across the globe.

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Growth Drivers
The increasing awareness of environmental concerns and increasing awareness for saving the natural resources is driving more customers towards the adoption of solar PV modules. Being cost efficient and effective, it is the most popular way to generate electricity other than using the limited natural resources. Moreover, being cost efficient and effective is the important factor that is pertaining towards increasing demand of solar PV modules at an accelerating rate.

Geographic Overview
Geographically, Asia-Pacific is the largest solar PV market and is further anticipated to witness the fastest growth during the forecast period. China and Japan was estimated to contribute the largest revenue by 2017 and China is expected to dominate both the use and manufacturing of solar PV Module by 2024. According to a recent study, it has been observed that India has also given significant preference to the solar energy, since in 2014 the Indian government started providing subsidiaries to high capacity roof top grid. Moreover, it has been observed that China brought the technology which plunged the prices of the solar PV modules by almost 80%, this made China the leader of solar PV module market.

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Competitive Insight
Key players in the solar PV module industry are taking advantage of the situation of volatile fuel prices and the increasing adoption of environment friendly offerings across the globe. These players in the market are collaborating with automobile companies to start the production of solar powered vehicles. For instance, Suzuki motor corp. and Toyota Motor Corporation have stated to collaborate with such firms to invest their resources in solar driven vehicles. Trina Solar Ltd, Yingli Solar, Acciona Energy, Canadian Solar Inc., SunPower Corporation, First Solar Inc., Suntech Power Co., Sharp Corporation, Hanwha Q Cells Co Ltd and JA Solar Holdings Co. Ltd are the key players operating in solar PV module market across the globe.

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