Solar Photovoltaic Market is anticipated to record a CAGR of around 16.60% by 2025

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Solar Photovoltaic Market is anticipated to record a CAGR of around 16.60% by 2025

Press Release

Global Solar Photovoltaic Market to reach USD 452.4 billion by 2025.Global Solar Photovoltaic Market valued approximately USD 132.4 billion in 2017 is anticipated to grow with a healthy growth rate of more than 16.60% over the forecast period 2018-2025. The major driving factors of Solar Photovoltaic are High engine oil demand in vehicles, increasing automotive production and rising production of high-production lubricants. The rising demand for light and heavy commercial vehicles is also driving the markets of automotive lubricant. The adoption of bio-based lubricants which reduce harmful environmental effects is the current trend and it will boost the overall growth of the market. The major restraining factor extended drain intervals and introduction of electric vehicles are negatively impact the market of Solar Photovoltaic. Solar Photovoltaic reduce friction between two surfaces of the components of a vehicle and exemplify the futuristic technologies, which are capable of manufacturing durable surfaces, maximizing overall efficiency while meeting environmental norms. These lubricants also help to control the vehicle temperature by absorbing the heat generated by moving parts of the vehicle and transferring it to the sump or cooler. The rising sales and production of automobiles in major developing regions, such as India, China, and Indonesia are to contribute to the growth of the Solar Photovoltaic market. Another benefit of an automated lubrication system is worker safety. It becomes unnecessary for employees to engage in the potentially hazardous practice. Automotive lubrication provides lubricant constantly at an appropriate amount that allows the bearing to operate at its optimum. Increasing demand in developing region is the major opportunity in the automotive lubricant market.

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The regional analysis of Global Solar Photovoltaic Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific accounted more than 42% share of total generating revenue in 2015 followed by Europe and North- America. Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025, due to increase in growth of the overall economy. The U.S. is a highly matured region for the industry with its dynamics influenced by high level of product innovation.

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:

By Type:

. Thin film
. Multi-Si
. Mono-Si

By Regions:
. North America
o U.S.
o Canada
. Europe
o UK
o Germany
. Asia Pacific
o China
o India
o Japan
. Latin America
o Brazil
o Mexico
. Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

The industry is seeming to be fairly competitive. Some of the leading market players include First Solar Inc., Suntech Power co., Sharp Corporation, Hanwha Q Cells Co. Ltd., JA Solar holdings Co Ltd., Trina Solar Ltd., Yingli solar, ACCIONA Energy, Canadian Solar Inc., SunPower Corporation, Jinko solar holding Co. ltd. and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.

Target Audience of the Global Solar Photovoltaic Market in Market Study:

. Key Consulting Companies & Advisors
. Large, medium-sized, and small enterprises
. Venture capitalists
. Value-Added Resellers (VARs)
. Third-party knowledge providers
. Investment bankers
. Investors

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This post was originally published on Aerospace Industry