NEW YORK, May 22, 2020 /PRNewswire/ --
Photovoltaic Market to 2027- Covid-19 Impact and Europe Analysis
by Application (Residential Applications, Commercial, Utility
Applications); Type (Organic Components, Inorganic Components);
Component (Cells, Optics, Trackers); and Country
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The Photovoltaic market in Europe was valued at US$ 45.57 billion in 2019 and is projected to
reach US$ 177.58 billion by 2027; it
is expected to grow at a CAGR of 18.5% from 2020-2027. The market
in Europe comprises several
developing economies such as Germany, France, Italy, the UK, and Russia. The solar power generation facilities
in the European countries are well-established, and the government
is constantly focusing on energy generation from renewable energy
sources such as sun and wind. This factor is projected to boost the
photovoltaic market in the European countries. The photovoltaic
effect includes the creation of voltage or electrical current by
exposure to light. Therefore, the demand for photovoltaic
technology has surged with the rising number of solar power plants
in the European countries such as Germany, France, Italy, and the UK. The majority of
photovoltaic modules in the European countries are used to generate
power connected to an electricity grid which is likely to drive the
European photovoltaic market
On the basis of type, inorganic components segment led the
photovoltaic market with a decent market share.The inorganic
materials exhibit solar radiation-resistance, which is important
for space applications like satellites and space station.
The technology used for the manufacture of photovoltaic solar cells
is mainly silicon-based, which is an inorganic material.
Overall size of the European photovoltaic market has been derived
using primary and secondary sources.The research process begins
with exhaustive secondary research using internal and external
sources to obtain qualitative and quantitative information related
to the European photovoltaic market.
It also provides an overview and forecast for the photovoltaic
based on all segmentation provided with respect to the European
region.Additionally, primary interviews were conducted with
industry participants and commentators in order to validate and
analyze the data.
The participants who take part in such a process include industry
experts such as VPs, business development managers, market
intelligence managers, and national sales managers, and external
consultants such as valuation experts, research analysts, and key
opinion leaders specializing in the European photovoltaic industry.
Mitsubishi Electric Corporation, Panasonic Corporation, and Kaneka
Corporation are among the key players present in the European
photovoltaic market.
Read the full report:
https://www.reportlinker.com/p05894545/?utm_source=PRN
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