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Allied Market Research published a new report, titled, Flexible Solar Panels Market generated $464.31 million in 2020, and estimated to reach $914.07 million by 2030, witnessing a CAGR of 7.1% from 2021 to 2030.

Increase in demand for green and clean energy sources and rise in electricity generation pressure in the urbanized areas of the world drive the growth of the global flexible solar panels market. However, lack of technological awareness regarding functioning of flexible solar cell hinders the market growth. On the other hand, rise in the electrification of rural parts in majority of developing countries present new opportunities in the coming years.

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The government’s Feed in Tariff (FiT) is one of the major attractions of taking on major renewable energy such as solar panels. This initiative essentially meant that electricity produced by solar panel system was paid for by the government to help offset the cost of buying the system. In addition to this, European Union has initiated “Green Deal” program in-order to reduce carbon emission and tap the residential potential for harvesting solar energy. The various other initiatives of the government in order to improve the environment and provide electricity for the basic electronic gadgets in the rural areas are major factors that drive the growth of the flexible solar panels industry.

The research offers a detailed segmentation of the global Flexible Solar Panels market. Key segments analyzed in the research include Type, Applicationand geography. Extensive analysis of sales, revenue, growth rate, and market share of each segment, and geography for the historic period and the forecast period is offered with the help of tables.

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Based on application, the industrial segment accounted for the largest share in 2020, holding nearly one-third of the global flexible solar panels market, and is projected to continue its leadership status during the forecast period. This is due to increase in usage to power the low wattage devices such as lights, cameras, and others in the industries and rise in the demand for the green energy to cope with rise in application of electricity driven heavy-duty machinery and automation in the manufacturing industries. In addition, the supportive government initiatives to lower down the carbon emission from the manufacturing sites led the top manufacturing giants to invest in the solar energy. However, the aerospace segment is estimated to register the highest CAGR of 7.8% from 2021 to 2030.

Based on region, Asia-Pacific, followed by North America, held the highest market share in 2020, accounting for more than one-third of the global flexible solar panels market, and is expected to continue its lead in terms of revenue by 2030. Moreover, this region is expected to manifest the fastest CAGR of 7.8% during the forecast period. This is due to significant number of megacities, ever-increasing population, and rise in application of the building-integrated photovoltaic systems in this region. Other regions discussed in the report include North America, Europe, and LAMEA.

The market player positioning segment provides an understanding of the current position of the market players active in the Flexible Solar Panels industry.

The research offers an extensive analysis of key players active in the global Flexible Solar Panels industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include Alta Devices, Enecom, Flisom, Global Solar Energy, Inc., Miasole, Powerfilm Solar, Inc., Solbian, Solopower System, Sun Harmonics, and Sunpower Corporation. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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