Asia Pacific (APAC) Solar Energy Market Analysis by Solar Module, by Technology, by Application and by Generation with COVID-19 impact | Forecast Period 2017-2030

Asia Pacific (APAC) Solar Energy Market Outlook

Solar energy is induction from sun in the form of solar emission that is extracted from various technologies. Solar energy is used for many purposes such as cooking, heating buildings and generating electricity. Solar energy is also called heat trapper as it is automatic heat chaser which is also non mechanical. Solar panel, solar heater and solar cooker are some of the devices of solar energy.

Largest region in solar energy market is Asia Pacific. Asia Pacific has dominated the global solar energy market by around 35% market share in 2016.China is the biggest contributing country in Asia Pacific. China has dominated the market with more than 11.09 GW installations due to increase in non prevalent energy prices. Following China, Japan is the second contributing country in Asia Pacific solar energy market.

In former days, world’s biggest power plant was set up in India named Kamuthi solar park in Kamuthi, Tamil Nadu owned by Adani Power in order to provide electricity to population residing nearby and several other facilities. The solar park is set up in 2,500 acre land.

Major factor that drives Asia Pacific Solar energy market is that government is taking initiatives to promote renewable energy sources. Recently Asia Development Bank has invested USD 110 million to encourage solar power developer in private sectors. However, economic slowdown in various countries of Asia Pacific is the major restraint that can curtail the growth of Asia Pacific solar energy market.                                                                                 

Market Segmentation

On the basis of generation

• First generation
• Second generation
• Third generation

On the basis of solar module

• Monocrystalline silicon cells
•  Polycrystalline silicon cells
•  Cadmium telluride silicon cells
• Amorphous silicon cells
• Others

On the basis of technology

• Photovoltaic cells

Inorganic cell

Organic cells

• Concentrated solar power plant

parabolic troughs

Solar power towers

 Others

On the basis of application

• Agriculture & horticulture
• Transportation
• Architecture
• Others.

On the basis of region

• South east Asia ( Philippines, Singapore, Thailand and rest of South east Asia) {Market Share (%), Market Size (USD Billion)
• East Asia (China, Japan, Korea and rest of East Asia) {Market Share (%), Market Size (USD Billion)
• South Asia (India, Nepal, Bhutan and rest of South Asia) {Market Share (%), Market Size (USD Billion)
• Melanesia (Solomon island and rest of Melanesia) {Market Share (%), Market Size (USD Billion)
• Polynesia (Hawaii, Australia and rest of Polynesia) {Market Share (%), Market Size (USD Billion)

Market Size and Forecast to 2030

Global solar energy market is expected to grow 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 grow at a CAGR of 15.8% over the forecast period of 2017-2030.

Potential Growth Market Segments

On the basis of solar module, monocrystalline silicon cell has dominated the segment because of use of solar module in residential applications. Monocrystalline silicon cell dominated the solar energy market with 40% share till 2016. 

On the basis of generation, first generation solar energy market has dominated the segment because of constant use of photovoltaic cell. They are used to generate electric power. Photovoltaic cell is used with monocrystalline silicon cell to increase the demand of first generation solar energy market.

On the basis of countries, China is the biggest contributing country in Asia Pacific. China has dominated the market with more than 11.09 GW installations due to increase in non prevalent energy prices. Japan is the second largest contributing country following China.     

Trendsa, Drivers & Challenges to Market Growth

Cost of operating solar power project is very low, initiatives taken by government to promote solar power, fluctuation in price of silver which is major raw material in solar module and reduced prices of solar modules in some countries of Asia Pacific are the major growth drivers that drive the demand of solar energy in Asia Pacific.

Since solar energy market is an emerging market so cut throat competition among key players of solar energy market, lack of trust in population regarding solar energy, high prices of devices and economical slowdown of various countries in Asia Pacific are the major restraints by which growth of solar energy market is affected.

Covered in this APAC Solar Energy Market Repor

Market Synopsis

Market Segmentation

The Asia Pacific solar energy market is segmented as follows:

• On the basis of generation (Market Size, Demand Analysis and Growth Analysis)
• On the basis of solar module (Market Size, Demand Analysis and Growth Analysis)
• On the basis of technology (Market Size, Demand Analysis and Growth Analysis)
• On the basis of application (Market Size, Demand Analysis and Growth Analysis)

Asia Pacific Market Report covered insights of below mentioned regions:

• South east Asia( Philippines, Singapore, Thailand and rest of South east Asia)  {Market Size and Growth Analysis and Opportunity Analysis}
• East Asia (China, Japan, Korea and rest of East Asia) {Market Size and Growth Analysis and Opportunity Analysis}
• South Asia (India, Nepal, Bhutan and rest of South Asia) {Market Size and Growth Analysis and Opportunity Analysis}
• Melanesia (Solomon island and rest of Melanesia) {Market Size and Growth Analysis and Opportunity Analysis}
• Polynesia (Hawaii, Australia and rest of Polynesia) {Market Size and Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors
• Regional Variations
• Recent Trends and Developments

COVID-19 impact on "Asia Pacific (APAC) Solar Energy Market "

The report analyses and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Asia Pacific (APAC) Solar Energy Market " along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.

Key Market Players

• Age Power Solution
• 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
• Yingli Sola

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks

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