The Europe Flexible Solar Panels Market would witness market growth of 7.0% CAGR during the forecast period (2021-2027).
Flexible solar panels are divided into two categories i.e., thin-film and crystalline silicon. Because of their slightly distinct natures, each of them is ideal for a particular use. Flexible solar panels leverage photovoltaic silicon solar cells to create power, just like traditional solar panels, while, unlike their rigid counterparts, flexible solar panels are not protected by metals or glass. Instead, they're wrapped with ETFE, a flexible and easy-to-bend polymer.
When it comes to solar power conversion, flexible panels manufactured of monocrystalline silicon, offer high efficiency. As a result, these types of solar panels are as effective as their rigid counterpart. This kind of solar panel also outperforms thin-film panels in terms of durability. As a result, it is the preferred choice for mobile residences such as RVs, smaller houses, and boats. It is much lighter than the conventional one because it is thinner and encased in plastic rather than glass. Heavy-duty roof mounting systems are not required in these solar panels. Instead, glue or rope can be used to secure it. This facilitates the installation process, resulting in lower labor costs.
In 2020, the European Union (EU) countries have deployed around 18.2 GW of solar PV plants. One of the most compelling reasons to invest in significant renewable energy sources like solar panels is the government's Feed-in Tariff project. This project essentially meant that the government would pay for the electricity generated by solar panel systems in order to assist offset the cost of purchasing the system. Moreover, the European Union has launched a "Green Deal" program to cut carbon emissions and harness the domestic potential for solar energy gathering.
Moreover, since its inception in the implementation of Germany's Renewable Energy Act in 2000, solar power in Germany was a subject of major concern. German companies rapidly surged across the solar power technologies sector.
The Germany market dominated the Europe Flexible Solar Panels Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $47.6 Million by 2027. The UK market is estimated to grow at a CAGR of 6.1% during (2021 - 2027). Additionally, The France market would display a CAGR of 7.8% during (2021 - 2027).
Based on Type, the market is segmented into Copper Indium Gallium Selenide, Cadmium Telluride, Amorphous Silicon and Others. Based on Application, the market is segmented into Industrial, Residential, Aerospace, Automobile, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Flexible Solar Panels Market Size will Hit $716.5 Million by 2027, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hanergy Holding Group Ltd., Enecom Srl, Flisom AG, PowerFilm Solar, Inc., SoloPower Systems, Inc., Solbian Energie Alternative Srl, Sun Harmonics co. ltd., Jinko Solar Holding Co., Ltd., Trina Solar Co., Ltd., and JA Solar Holdings Co., Ltd.
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