Solar Power Equipment Market is Increased in Semiconductors Industry Globally, by 2027 – News Distinct

The global solar power equipment market was valued at $76,270.6 million in 2017, and is projected to reach $188,304.0 million in 2025, growing at a CAGR of 12.5%. Solar power equipment are mounted on ground or rooftop to harness the sun’s energy and convert it into electricity for further use by industrial, utility, commercial, or residential sector. Various types of solar power equipment include solar panels, solar batteries, solar mounting & racking system, solar trackers, solar inverters, and others.

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Solar energy serves as a clean and environment-friendly energy source, which is anticipated to propel the demand for solar power equipment globally. In addition, solar photovoltaic (PV) rooftop system is a potential green technology, which combats climatic changes by decreasing dependence on conservative fossil fuel-based energy. Moreover, they help to meet the energy needs of residential and nonresidential buildings by providing electricity within an existing distribution network. However, high dependency on solar radiation and constant changes in weather conditions are the major challenges faced by the solar power equipment industry. On the contrary, improvements in technology are anticipated to offer lucrative opportunities for the players in the industry.

The global solar power equipment market is segmented based on equipment, application, and region. On the basis of equipment, the market is fragmented into solar panels, mounting, racking, & tracking system, storage system, and others. The solar panels segment is anticipated to dominate the global solar power equipment market throughout the study period. By application, it is categorized into residential, nonresidential, and utility. The utility segment is projected to grow at the highest rate in the near future.

The global solar power equipment market is analyzed across four geographical regions, which include North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific is expected to dominate the market throughout the forecast period.
The key players profiled in this report include ABB Group, Canadian Solar, First Solar Inc., Hanwha Q CELLS, JA Solar, JinkoSolar, LONGi Solar, Shunfeng International, SunPower Corporation, and Trina Solar

Key Benefits for Solar Power Equipment Market :

The study provides an in-depth analysis of the global solar power equipment market, and current & future trends to elucidate the imminent investment pockets.

Information about the key drivers, restraints, and opportunities and their impact on the market is provided.

Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.

The quantitative analysis of the global solar power equipment market from 2017 to 2025 is provided to determine the market potential.

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Solar Power Equipment Key Market Segments :

By Equipment

Solar Panels

Mounting, Racking, & Tracking System

Storage System

Others

By Application

Residential

Nonresidential

Utility

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Rest of Europe

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

LAMEA

Latin America

Middle East

Africa

KEY MARKET PLAYERS PROFILED IN THE REPORT

ABB Group

Canadian Solar

First Solar Inc.

Hanwha Q CELLS

JA Solar

Jinko Solar

LONGi Solar

Shunfeng International

SunPower Corporation

Trina Solar

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Source: https://www.newsdistinct.com/solar-power-equipment-market-is-increased-in-semiconductors-industry-globally-by-2027/

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