Wilmington, Delaware, United States, June 03, 2022 (GLOBE NEWSWIRE) -- Analysts at TMR project the solar PV cells and modules market to expand at a CAGR of 10.5% for the forecast period from 2021 to 2031. Substantial efforts for the production of solar energy as it is an efficient form of unconventional energy fuels demand for solar photovoltaic (PV) cells and modules for the manufacture of solar panels.

Government incentives for the adoption of solar energy to minimize the use of fossil fuels, especially in the commercial sector strengthens demand for essential products, including PV cells and modules. Solar technologies can harness solar energy to generate electricity, provide light or a comfortable interior environment, and heat water for domestic, industrial, or commercial use.

This is attracting public and private organizations to invest heavily to strengthen electricity grids to maximize production of solar energy. For example, some key public sector companies in India such as Coal India Limited and National Thermal Power Corporation are diversifying into renewable energy generation. The move is expected to be critical for the clean energy transition journey of the country targeted for the next 15 to 20 years.

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Asia Pacific held the leading 57.8% volume share of the solar PV cells and modules market in 2021. Extensive government support for the production of solar energy in countries such as China, India, Japan, and Southeast Asian countries stokes demand for solar panels.

Solar PV Cells and Modules Market – Key Findings of the Report

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Solar PV Cells and Modules Market – Growth Drivers

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Solar PV Cells and Modules Market – Key Players

Some of the key players operating in the solar PVE cells and modules market are;

Global Solar PV Cells and Modules Market: Segmentation

Global Solar PV Cells and Modules Market, by Type

Global Solar PV Cells and Modules Market, by Technology

Global Solar PV Cells and Modules Market, by End-use

Global Solar PV Cells and Modules Market, by Region

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