The global fixed tilt solar PV market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global fixed tilt solar PV market from 2019-2023. (Photo: Business Wire)
A key factor driving the growth of the global fixed tilt solar PV market is the supportive government policies and regulations. Governments across the globe are increasingly supporting the adoption of renewable technologies such as solar energy by offering subsidies, incentives, and tax benefits for both consumers and producers. In addition, several countries are formulating policies for promoting the development of solar technologies while encouraging high investments in renewable technologies. Furthermore, several governments are also introducing separate policies for different types of solar PV installations. Therefore, with the rising installation of renewable energy driven PV systems, the demand for fixed tilt solar PV installation will increase considerably in the forthcoming years.
As per Technavio, the developments related to solar PV modules will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global fixed tilt solar PV market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global fixed tilt solar PV market: Developments related to solar PV modules
Solar PV modules offer high efficiency and conversion rates. There has been an increase in the installation of next generation solar PV modules including the mono PERC and bifacial solar PV modules. These advanced solar PV modules require a smaller array footprint leading to a reduction in the BOS cost. Furthermore, they are installed on high reflective surfaces to utilize both sides of the solar PV module leading to enhanced production of electricity. Continuous research is being conducted on several other components of solar PV modules to improve efficiency. Therefore, continuous developments in the manufacture of solar PV modules will contribute significantly to the overall fixed tilt solar PV market growth during the forecast period.
"There has been an increase in the use of half-cut cell PV modules due to their high efficiency. This design of the solar PV module reduces resistance loss while increasing efficiency when compared to standard solar PV modules. Thus, with the growing adoption of mono PERC, bifacial PV, and half-cut cell PV modules, the demand for fixed tilt solar PV mounting structures will rise during the forecast period.," says a senior research analyst at Technavio.
Global fixed tilt solar PV market: Segmentation analysis
This market research report segments the global fixed tilt solar PV market by application (utility, and non-utility) and geographic regions (APAC, EMEA, and Americas).
APAC led the market in 2018, followed by EMEA and the Americas respectively. The dominance of APAC can be attributed to the increase in solar power installations in China, India, Australia, and Japan. In addition, the presence of financial incentive programs in economies including China and Japan have resulted in the strong demand for solar PV systems, which is boosting the demand for fixed tilt solar PV mounting structures.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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