The Latin America, Middle East and Africa Flexible Solar Panels Market would witness market growth of 10.1% CAGR during the forecast period (2021-2027).
Silicon wafers make up a basic polycrystalline or monocrystalline solar panel. These solar panels can be as thick as 200 micrometers, or slightly thicker than a human hair. These silicon wafers are chopped down to only a few micrometers broad in order to construct a flexible solar panel. Solar panels made with these ultra-thin silicon wafers have a number of unusual features, including flexibility in some variants.
Flexible solar panels are rapidly becoming popular due to the increasing urbanization across the world. Solar panels are considered as a cutting-edge technology that has the potential to offer various benefits to the energy conservation objective of the region.
Brazil generated 10.7 TWh of solar energy in 2020, making it the second-largest contributor to the South American solar market. Moreover, according to the Operator of the National Electricity System, there are 3,893 solar power plants in Brazil, with another 13 under construction. Brazil had 7.8 GW of installed solar power in 2020, and by 2024, the government aims to install 1.2 million solar power-producing installations. Net-metering legislation and lower solar energy costs would also offer lucrative opportunities to new market entrants.
In addition, in 2020, Africa also deployed approximately 1.5 GW of solar PV projects, while various solar projects are now under construction. Further, there are numerous developments that are going on across this region. The adoption of various advanced technologies would encourage a significant number of people to leverage the flexible solar panel technology.
The Brazil market dominated the LAMEA Flexible Solar Panels Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $12 Million by 2027. The Argentina market is exhibiting a CAGR of 10.7% during (2021 - 2027). Additionally, The UAE market would witness CAGR of 9.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Flexible Solar Panels Market is Predict to reach $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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