Multifarious initiative taken by the regional government is driving the growth of Asia Pacific solar energy market. According to Goldstein Research, “Solar energy market in Asia Pacific will show a tremendous growth at a CAGR of 15.8% in six to seven years. Initiative taken by governments to promote various solar energy sources is one of the major key factor that boost up the demand of solar energy resources. Recently Asia Development Bank has invested USD 110 million to encourage solar power developer in private sectors. Also various incentives, subsidies and tax exemption are given by government such as accelerated depreciation is given by government in order to install solar power plant on the rooftop under which several deduction is made. Global solar energy market is expected to reach USD 430.2 billion by 2024 from USD 95.2 billion in 2016 at a CAGR of 25.01% over the forecast period in which Asia Pacific solar energy market has acquired 35% share of global solar energy market. Market value of Asia Pacific solar energy market is USD 33.33 billion in 2016 and is anticipated to reach at USD 150.5 billion by 2024 at a CAGR of 15.8% over the forecast period. The Asia Pacific Solar Energy market segmentation has been carries out on the basis of basis of generation, solar modules, technology and application. Application is further bifurcated into agriculture and horticulture, transportation and architecture and others. Architecture segment dominated the Asia Pacific solar energy market with 35% share in 2016 due to vast use of solar energy resources in architectural rooftop etc. Geographically, Japan is the second largest contributing country following China in Asia Pacific solar energy market. Japan has nearly 10.2 GW installation of solar power in 2016. However, India is growing at a fastest CAGR and India solar energy market size is anticipated to reach USD 6.21 billion by 2024.

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Market Segmentation
• On the basis of generation
o First generation
o Second generation
o Third generation
• On the basis of solar module
o Monocrystalline silicon cells
o Polycrystalline silicon cells
o Cadmium telluride silicon cells
o Amorphous silicon cells
o Others
• On the basis of technology
o Photovoltaic cells
 Inorganic cell
 Organic cells
o Concentrated solar power plant
 parabolic troughs
 Solar power towers
 Others
• On the basis of application
o Agriculture & horticulture
o Transportation
o Architecture
o Others.
• On the basis of region
o South east Asia ( Philippines, Singapore, Thailand and rest of South east Asia)
o East Asia (China, Japan, Korea and rest of East Asia)
o South Asia (India, Nepal, Bhutan and rest of South Asia)
o Melanesia (Solomon island and rest of Melanesia)
o Polynesia (Hawaii, Australia and rest of Polynesia)

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“Asia Pacific (APAC) Solar Energy Market Outlook 2024” contains detailed overview of the Asia Pacific solar energy market in terms of market segmentation by generation, by solar module, by technology and by applications

Further, for the in-depth analysis, Asia Pacific solar energy market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Asia Pacific solar energy Market Report also includes competitive outlook of some of the major players which includes profiling of companies such Canadian Solar, First Solar, Huawei Technologies, JA Solar, Kyocera, Omron Corporation, Power-One Micro System Pvt. Ltd, SMA, Sungrow Power Supply Co. Ltd, Tabuchi Electric Co. Ltd, Tmeic, Trina Solar, Xiamen Kehua Hengsheng Co. Ltd and Yingli Sola. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the Asia Pacific solar energy market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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