The Europe Solar Encapsulation Market would witness market growth of 7.9% CAGR during the forecast period (2022-2028).
Electrical isolation between internal circuitry and the outside world is the main goal of solar panel encapsulation. The fundamental purpose of encapsulation is to protect the PV module from UV rays, moisture infiltration, and system electrical insulation while also enhancing its endurance. The back sheet is frequently made of a polymer or a combination of polymers. Solar panel encapsulation is crucial in minimizing damage to PV modules, allowing for long-term durability and quality assurance.
A solar charge controller charges the battery while preventing it from being overcharged or over-discharged by regulating and managing the output from the solar PV array. The electrolyte in a battery produces fumes of hydrogen and oxygen when it is overcharged, which may cause an explosion and failure. If an excessive current discharge is permitted, the battery charge would be depleted. The battery's lifespan will be reduced as a result, and it will eventually stop working.
According to information provided by the European Commission, solar energy already contributes a significant amount to the European energy mix, accounting for 3.6% of the total electricity produced by the EU-28 in 2017. With decreasing production costs and greater efficiency in turning sunlight into electricity, solar power has the potential to become a significant source of renewable energy in this Asia Pacific region.
The Germany market dominated the Europe Solar Encapsulation Market by Country in 2021; thereby, achieving a market value of $275.3 million by 2028. The UK market is anticipated to grow at a CAGR of 7.1% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 8.7% during (2022 - 2028).
Based on Material, the market is segmented into Ethylene Vinyl Acetate, Non-ethylene Vinyl Acetate, UV Curable Resin, and Others. Based on Technology, the market is segmented into Polycrystalline Silicon Solar, Cadmium Telluride, Copper Indium Gallium Selenide, and Amorphous Silicon. Based on Application, the market is segmented into Construction, Electronics, Automotive, 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 Solar Encapsulation Market will Hit $4.4 Billion by 2028, at a CAGR of 8.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Dupont De Nemours, Inc., First Solar, Inc., Dai Nippon Printing Co., Ltd. (dnpSolar), Dow, Inc., Hangzhou First PV Material Co. Ltd., Kuraray Co., Ltd.
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