The APAC solar panel market is expected to grow at a high CAGR during 2018-2023. A variety of factors such as environmental concern, lack of oil and gas resources, and demand for energy due to the rise in population are driving the APAC solar panel market. Increased carbon emission due to fossil fuel and the need for unlimited clean energy are reasons behind the growth of the APAC solar panel market. Government as well as other big players are investing in the market and government incentives are another motivating factor in this region. Competition with a well-established oil and gas market and lack of proper energy storage and energy transportation facility is a major restraint of market which hindered the growth of the APAC solar panel market. China is the leading market in the APAC region. In 2016, the cumulative photovoltaic capacity of China was increased by 34 gigawatts (GW) and reached at 77 GW. The region has as many diversified solar policy environments as its number of countries.
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APAC solar panel market can be segregated geographically into China, India, Japan, South Korea, Thailand, Taiwan and Rest of APAC. According to OMR analysis for Solar Panel 2016-2022, China and India are projected to contribute highest in APAC Solar panel markets in 2022 followed by Japan, South Korea, Thailand which dominated the regional solar sector in 2015. Among the other emerging markets in the APAC region, South Korea is a major center for the development of solar technologies and the manufacture of modules, although the country is not a major consumer of solar modules due to its small geographic size.
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APAC Solar Panel Market segmentation
Monocrystalline silicon solar pv market
Polycrystalline silicon solar pv market
Thin-film solar pv market
Amorphous silicon (a-si)
Cadmium telluride (cdte)
Copper indium gallium selenide (cis/cigs)
By end user
Key company analysis
Juwi holding ag
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