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The global photovoltaic materials market is expected to reach USD 36.23 billion by 2025, according to a new report by Grand View Research, Inc.
The growing PV installations coupled with rise in module manufacturing facilities in Asia Pacific is driving market demand.The demand for photovoltaic materials is the highest in the construction of solar cell.
The growing number of PV projects commissioned by the government is boosting the consumption.
The government incentive offered on building integrated photovoltaics is expected to further augment market demand.Asia Pacific accounted for the maximum market share owing to the presence of a large number of module manufacturers in China and India.
The slowdown in the Chinese manufacturing sector due to sanctions imposed by the government is expected to force module manufacturers to turn towards other developing countries.
The growing exports of solar cells from Asia Pacific to North America and Europe are expected to have a positive impact on market demand.Further key findings from the report suggest:Polycrystalline silicon dominated the material segmentation with a market share of 62% in 2016.Copper Indium Gallium Selenide material segment is projected to grow at a CAGR of 13.3% from 2017 to 2025 owing to research on new materials to be used in the construction of solar cell.Encapsulant products are anticipated to grow at a CAGR of 11.8% from 2017 to 2025 due to high demand for these products in thin film and silicon wafer modulesEurope market share is expected to decrease to around 14% in 2025 owing to growing exports of PV modules from Asia Pacific.Middle East & Africa is anticipated to grow at a CAGR of 8% from 2017 to 2025 owing to governments in these regions investing heavily in solar PV installations.The industry participants are engaged in research on new materials used in the manufacturing of solar cells.Access full research report on global photovoltaic materials market: www.grandviewresearch.com/industry-analysis/photovoltaic-pv-materials-market
At present, solar energy is the well known form of alternative energy on the planet, for both commercial and residential applications.
These systems are highly productive, enabling them to be very common and adaptable.Solar panels are an important part of a photovoltaic power system, as they are the elements by which sunlight is changed into electricity.
This is where the role of Solar Inverter System in Gurgaon comes into play.Solar inverter is a commonly used appliance that transforms DC power to AC power by utilizing solar panels that draws its energy from the sun.
It works the same as different inverters of altering the DC into an AC, with the assistance of photovoltaic array, and it can be utilized with many utility grid as well as home appliances.Solar inverters can be categorized into following types:Grid tie inverters: Such kinds of inverters shut down automatically under emergency conditions while utility supply is gone and thus, working securely.Stand alone inverters: Such inverters uses DC electrical energy that is stored in many group of batteries being charged by numbers of solar cells known as solar panels.
It may use many other renewable resources such as hydroelectric energy so as to rotate turbines and thus, running generators.
Many other inverters like this use AC sources when it is available to charge batteries.Battery backup inverters: Advanced inverters that derive energy from storage devices that is charged through dedicated chargers as well as sends more energy to grids.
