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Global Solar Backboard Market Demand Will Exceed $1.7 Billion In 2018
Apr 11, 2018

The global solar backboard market is expected to grow at a compound annual rate of 7.02 per cent between 2018 and 2023, reaching a market size of $2.4 billion by 2023 and an estimated $1.71 billion by 2018, according to a report by international market research firm Marketsand Markets.

Global market growth is driven by an increase in global solar photovoltaic units and government policy support to promote the adoption of renewable energy technologies, as well as increasing demand for carbon emission reductions.
From the application market, it is divided into utilities, industry, commerce, residential and military. The utility sector is expected to be the largest market, largely as a result of an increase in the installed capacity of solar power plants globally, including modular utilities and distributed power applications to meet global electricity demand.
From the installation type, mainly divided into roof installation, ground installation and floating power station. During the forecast period, the market for floating power plants is expected to grow at the highest compound growth rate, largely due to the capacity of power plants to generate additional energy due to the cooling nature of water. Floating power plants also solve the land constraint problem, which is the main obstacle to installing solar energy on the ground.

From the material type, mainly divided into fluoropolymer and non-fluoropolymer. Non-fluoropolymer plates are expected to grow at the fastest rate. Compared to the fluoropolymer substrate, this increase can be attributed to its cost-effectiveness.
In terms of the regional market, the Asia-Pacific region is expected to dominate the global solar backplate market during the forecast period, as a result of significant increases in solar photovoltaic installation in China and India. China is the largest market in the region and is investing heavily in solar photovoltaic power to reduce carbon emissions and meet its electricity needs. The Asia-Pacific region is also expected to be the fastest-growing market, followed by North America.
It is worth noting that the main factor constraining the growth of the solar backplate market is the high installation and storage costs of solar photovoltaic power.

The report said that saiwu applied technology(China), China shares(China), Coveme(Italy), Krempel(Germany) and Hangzhou foster Applied materials(China) will become the world's leading suppliers of solar backboards.