The global Solar Energy Market will be worth USD 243.95 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing global population and the increasing demand for electricity in developing countries. The decreasing cost of renewable sources of energy is expected to drive the industry’s growth over the forecast period. The increasing cost of coal, gas, or oil has resulted in the government’s growing initiatives to reduce the dependency on coal-generated energy.
Growing initiatives of the government, such as implementing strict emission control measures, increasing investment for the development of technologically advanced solar energy facilities, tax rebates on the installation of the solar panels, are most likely to propel the growth of the market over the forecast period.
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Key Highlights From The Report
- In July 2019, a partnership was formed between NTT Com-Netmagic and Tata Power Solar. The association was created with an aim to provide an IT solution for the company’s upcoming 50MW solar photovoltaic power plant project in Maharashtra.
- Solar energy is mainly used for the generation of electricity due to the rapid urbanization in developing economies coupled with the government’s increasing initiative to reduce dependency on coal-generated energy.
- Europe accounted for the largest market share of the solar energy market in 2019 due to the favorable regulatory framework, such as incentives and tax rebates on installing the solar panels.
- The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the increasing installations of the solar panels in countries such as Japan, India, and China.
- Key participants include Borrego Solar Systems Inc., Abengoa Solar SA, AREVA, BrightSource Energy Inc., Acciona Energia, S.A., ESolar Inc., Tata Power Solar, First Solar Inc., Evergreen Solar Inc., and Canadian Solar, among others.
Emergen Research has segmented the global Solar Energy Market on the basis of Technology, Application, End-Use, and region:
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Concentrated Solar Power (CSP)
- Solar Photovoltaic (PV)
- Application Outlook (Revenue, USD Billion; 2017-2027)
- End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Electricity generation
The most prominent geographical segments covered in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The latest research endows readers with an extensive database of the worldwide Solar Energy business sector and anticipates massive growth of the Solar Energy market in the upcoming years. The report focuses on pivotal factors like the latest market trends, sales volume, revenue forecast, market size, and regional concentration. It helps the readers determine the overall market shares held by distributors and traders engaged in this market through the supply chain. In addition, the report undertakes a comprehensive study of the market using advanced analytical methods, such as SWOT analysis, Porter’s five forces analysis, speculation attainability investigation, and venture return investigation.
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Key Reasons to Buy This Report:
- The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
- It entails a detailed inspection of the Solar Energy market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
- The report provides the reader with a deep understanding of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and powerful business tactics.
- Furthermore, the report identifies the key regions and segments that influence the Solar Energy market.
Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Solar Energy Market Segmentation & Impact Analysis
4.1. Solar Energy Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Increasing demand for electricity
188.8.131.52. Increasing initiatives of the government to reduce carbon emissions
184.108.40.206. Favorable government regulations
220.127.116.11. Technological advancements of the renewable energy sources
18.104.22.168. Low maintenance and operating cost
4.2.3. Market restraints analysis
22.214.171.124. High installation cost
126.96.36.199. High electricity cost compared to other sources
188.8.131.52. Low capacity factor
184.108.40.206. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Solar Energy Market By Technology Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
5.1. Technology Dynamics & Market Share, 2019 & 2027
5.1.1. Concentrated Solar Power (CSP)
5.1.2. Solar Photovoltaic (PV)
Chapter 6. Solar Energy Market By Application Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
6.1. Application Dynamics & Market Share, 2019 & 2027
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