The global solar panels market is estimated to grow at a CAGR of 15.3 percent over the course of 2011-2015, according to a new report entitled “Global Solar Panels Market 2011-2015.”

Functional and technological advancements are the two key factors contributing to this market growth, the report notes. Moreover, the new report states the entry of new competitors with competitive advantages is also driving this market growth.

Additionally, the progression of technology in the solar photovoltaic (PV) industry is driving the growth of the global solar panels market, the report, published by TechNavio, says. However, it has been observed that the seasonal fluctuation of solar power availability may challenge the promising growth of this market.

The increase in R&D was another major prevailing trend in the global solar panels market, said an analyst of TechNavio's Clean Tech team, adding that in addition to reduction in policies, there were also favorable policies and procedures that existed for boosting the global solar panels market.

The key vendors dominating this market space include First Solar Inc., Suntech Power Holdings (News - Alert) Co. Ltd., Trina Solar Ltd., and Yingli Green Energy Holding Co. Ltd, as per the findings of the report.

This new report covers the Americas, and the EMEA and APAC regions, as well as includes the global solar panels market landscape and its growth prospects in the coming years, detailing a discussion of key vendors operating in this market.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.

Recently, Research and Markets announced the addition of the “Global Solar Panels Market 2011-2015” report to their offering.

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