Solar Energy Market 2019-2025 Overview by Electricity Consumption, Government’s Initiative, Power Generation Capacity, Investments/ Developments, Business Opportunities & Road Ahead
The report discuss the growth story of the global solar market during 2019 to 2025. The report profiles key players along with their latest developments, business strategies, cost and revenue structures, and contact information.
Global Solar Energy Market
The growth of the global solar energy market is majorly driven by rise in provision of government incentives as well as tax rebates to fix solar panels and increase in environmental pollution. Moreover, reduce in water footprint which is one of the major factors associated with solar power systems has boosted the growth of power generation industries. In addition to this, the demand for solar cells is also increased significantly due to rise in roof installations which are increasing several applications in architectural industry. However, the demand for solar power towers and parabolic troughs in electricity generation is likely to fuel the demand for concentrated solar power systems.
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Additionally, the competition has substantially risen among the huge number of service providers with the high growth in photovoltaic-based power systems. Likewise, the price of the solar modules varies according to the regions, specifically in Asia Pacific and Europe. On the other hand, decreased productivity of market acquisition stress as well as manufacturers is some of the factors lead to decline in the solar panel prices. In addition to this, the development of PV storage system is also needed to increase the ability of such systems to exchange the conventional power sources.
The global solar energy market segmentation is done with the help of factors such as capturing technology, harnessing technology, and geographical regions. In terms of harnessing technology, the market is divided into solar thermal electricity, solar photovolatics, artificial photosynthesis, and solar heating. On considering capturing technology, the global solar energy market is sub-segmented into active solar technology and passive solar technology. In terms of geographical front, the market is expanded into Asia Pacific, Europe, North America, and Rest of the World (RoW). Out of these, North America and Europe are together expected to command a highest during predicted period. Thus, the adoption of solar power plants is increasing momentum across Asia Pacific region. Likewise, the expansion of solar power production in several regions such as China, Japan, and India is contributing to the significant growth of the solar energy market across Asia Pacific region.
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The major service providers operating in the global solar energy market are Suntech Power Holdings Co. Ltd., Yingli Solar, Sharp Corporation, First Solar Inc., and Trina Solar Limited. With technological developments as well as availability of resources in regions such as Africa and Latin America, the existing and new companies are expected to enjoy significant growth into coming years.
Key segments of the global solar energy market
Technology Overview, 2015-2025 (MW) (USD Million)
- Solar Photovoltaics (PV)
- Concentrating Solar Thermal Power (CSP)
Panel Overview, 2015-2025 (MW) (USD Million)
- Monocrystalline Silicon
- Polycrystalline Silicon
- Thin Film
Application Overview, 2015-2025 (MW) (USD Million)
Regional Overview, 2015-2025 (MW) (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- Rest of MEA
Press Release Distributed by The Express Wire
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