According to the research report titled ‘Solar PV Module Market Size By Technology, Product, Connectivity, Mounting, End-Use, Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, worldwide solar PV module market is slated to grow substantially through 2026.
 

Industry experts claim that escalating demand for effective power, coupled with favorable government initiatives such as tax rebates and incentives aimed at promoting the adoption of solar panels are catalyzing solar PV module market growth.
 

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Additionally, large-scale integration of renewable energy, declining cost of solar panels, and surging demand for green electricity across the private and public sectors are stimulating the market outlook.
 

Based on product landscape, solar PV module market share from cadmium telluride segment is set to grow tremendously during the analysis timeframe. The segmental growth can largely be attributed to rapid development of renewable energy resources, rising environmental concerns, implementation of stringent norms regarding net metering, and growing focus towards reducing usage of fossil fuels.
 

Parallelly, amorphous silicon (A-Si) product segment is also anticipated to experience considerable expansion through 2026, owing to surging power demand from off-grid areas and growing focus towards decentralizing power generation. Rising product adoption across various commercial establishment, due to beneficial characteristics such as longevity and low operational cost is further propelling the growth of the segment.
 

With regards to end-user terrain, commercial sector is expected to emerge as a lucrative growth avenue for solar PV module market sphere during the stipulated timeframe. Increasing adoption of solar PV panels across various commercial establishments including hospitals and hotels, rapid urbanization, escalating power demand from data centers as well as communication base stations, favorable government initiatives, and growing concerns regarding carbon emissions among consumers are bolstering industry revenues.
 

From a regional frame of reference, the industry vertical is fragmented into Latin America, Asia-Pacific, North America, Middle East, Europe, and Africa.
 

Trina Solar Co. Ltd, Canadian Solar Inc., JA Solar Holdings , JinkoSolar Holding Co. Ltd, First Solar Inc., SunPower Corp., Schott Solar AG, Suntech Power Holdings Company Ltd., SolarWorld Industries GmbH, LONGi Solar Technology Co. Ltd., Hanwha Q Cells Co. Ltd, Sharp Corp., Motech Industries Inc., Solar Frontier K.K., GCL System Integration Technology Co. Ltd., and Risen Energy Co. Ltd. are the top companies operating in solar PV module market sphere.