PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226452
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226452
Global Solar Encapsulation market is valued at approximately USD 2.83 Billion in 2021 and is anticipated to grow with a growth rate of more than 8.7 % over the forecast period 2022-2029. Solar photovoltaic technology is a technology that converts sunlight into direct current electricity by using electronic components such as semiconductors. There is a number of layers in solar cell and among those layers, one is encapsulation film that protects the solar cell from discoloration, moisture etc. and ensures its reliability and performance. It provides optical and electrical transmissivity. Rising demand for electricity worldwide, cost reduction potential of solar PV and development in PV technology are the factors driving the growth of market over the forecast years.
Over the years the demand for electricity has significantly increased due to increased commercial and industrial demand as well as growing adoption of electric vehicles. Hence, with rising electricity demand the adoption of alternative energy sources such as solar energy has rapidly increased creating lucrative demand for solar encapsulation worldwide. For instance - according to International Energy Agency (IEA) estimates - in 2019, the global electricity demand was estimated at approximately 24000 terawatt-hours, and the demand for electricity is projected to reach 27500 terawatt-hours by 2026, and further 30,000 terawatt-hours in 2030. Thus, the rise in global electricity demand indicates the rise in electricity production propels the growth of global solar encapsulation market over the forecast years. Also, introduction of organic solar technology and economical encapsulation techniques and increasing demand for solar lights for road dividers would create lucrative growth prospectus for the global solar encapsulation market throughout the projected period. However, degradation of EVA solar encapsulation materials hinders the market growth throughout the forecast period of 2022-2029.
The regional analysis of global Solar Encapsulation market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is estimated as the dominant and fastest growing region worldwide due to the factors such as increasing number of initiatives from government authorities to promote adoption of solar energy and growing investment in solar parks as well as the region being one of the largest producers of solar energy worldwide.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable