Growth of frameless solar panels market is attributed to the rising demand for aesthetically pleasing solar panels and investment in energy efficient projects
LONDON, UNITED KINGDOM, January 20, 2021 /EINPresswire.com/ — The growth of frameless solar panels market can be primarily attributed to the rising demand for aesthetically pleasing solar panels among the consumers. Also, the growing investment in energy efficient projects along with favorable government initiatives towards solar energy is expected to fuel the growth of market during 2020-2027.
Furthermore, advancements in the solar panel technologies is also expected to propel the market demand. For instance, the German based Fraunhofer Institute for Solar Energy Systems has developed a solar cell technology named TPedge assembly approach. In this approach, the solar cells are fixed in a gas-filled space between two glass panes with special adhesive pins that eliminate the need for encapsulants, backsheets as well as the aluminium frame and sealing. Also, the approach would help reduce the material and production costs of photovoltaic modules.
Frameless solar panels are significantly appealing to those seeking aesthetics, as the panels can appear to be ‘floating’ on the roof. Moreover, frameless modules are inherently less expensive than traditional framed panels while offering better performance due to lack of debris buildup at the edge of the module as well as no grounding requirements. Also, these modules do not suffer from problems like corrosion of the frames and are more durable. However, one of the major bottlenecks in their adoption is the need for installing specific mounting structures for their appropriate functioning.
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• Monocrystalline segment is likely to hold a significant share of the market during the forecast period
• Commercial segment held a considerable share of the market in 2019, and is expected to witness healthy CAGR over the forecast period
• Europe & North America together are expected to offer significant opportunities. While, Asia-Pacific is projected to augment at the fastest CAGR over the next eight years
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On the basis of type, the monocrystalline segment held the largest share of the global market in 2019. These panels are made up of monocrystalline silicon, and offer the highest efficiency as against other type of solar panels. Monocrystalline solar panels are more expenisve than other PV technologies. However, PV manufacturers are making continuous efforts to reduce the price for producing mono-crystalline modules by switching towards diamond wafer technology.
On the basis of region, Europe dominated the global market for frameless solar panels in 2019 on account of increasing investments in the energy sector. The EU’s Energy Performance of Buildings Directive mandates all new buildings to be virtually zero-energy, and aims at decarbonizing national building stocks by the end of 2030. This trend is likely to offer significant opportunies for frameless solar panels in the region. Asia-Pacific is expected to emerge as the fastest growing region owing to considerable growth in renewable energy projects in the region.
Key players operating in the market include Trina Solar; Jinko Solar; Infinity Innovations Ltd.; Canadian Solar; Yingli Solar; Lumos Solar; Avancis GmbH; ViaSolis; among others.
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Source: EIN Presswire