About Monocrystalline Solar Panel
Monocrystalline panels as the name suggests are created from a single continuous crystal structure. Monocrystalline solar panels are space-efficient. Since these solar panels yield the highest power outputs, they also require the least amount of space compared to any other type. However, monocrystalline solar panels produce marginally more power per square foot of space used in an array and so.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 11.5% |
Market players are focusing on partnerships, collaborations, and new product launches in order to increase their offerings in the notching machines market. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product offerings. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Monocrystalline Solar Panel market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
East Penn Manufacturing (United States), LG Chem (South Korea), Panasonic (Japan), redT energy plc (United Kingdom), Samsung SDI Co (South Korea), Saft Groupe S.A. (France), Abengoa Solar S.A. (Spain), Wuxi Suntech Power Co. Ltd. (China), Bright source Energy Inc. (United States) and Esolar Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Sunpower Corporation (United States), Canadian Solar Inc. (Canada) and Tata Power Solar (India).
Segmentation Overview
AMA Research has segmented the market of Global Monocrystalline Solar Panel market by , Application (Residential and Commercial) and Region.
On the basis of geography, the market of Monocrystalline Solar Panel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Monocrystalline Solar Panel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage, the sub-segment i.e. 12V will boost the Monocrystalline Solar Panel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Number of Cells, the sub-segment i.e. 36 will boost the Monocrystalline Solar Panel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Utilization of Energy across the Globe
Market Growth Drivers:
Increasing Demand for Solar Panels in the Residential Rooftop and Rising Environment Concern leads to Adaption of Solar Energy across the World
Challenges:
High-Cost Batteries and Requirement of power-conversion devices that Increases Overall Cost and Availability of Substitutes such as Polycrystalline solar panels, Thin Film solar panels
Restraints:
Unpredictable Weather Condition
Opportunities:
Increasing Government Incentives and Reduction in Taxes for Solar Energy and Decreasing Cost of PV and energy storage systems
Market Leaders and their expansionary development strategies
In March 2024, REC launches 430 W heterojunction solar module with 22.2% efficiency. REC has developed a new series of residential heterojunction solar panels with efficiencies ranging from 20.6% to 22.2% and an operating temperature coefficient of -0.24% per degree Celsius.
Key Target Audience
Monocrystalline Solar Panel Manufacturers, Monocrystalline Solar Panel Suppliers and Distributors, Potential Investors and Government Organisation
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.