Solar Power Equipment Market Study of Revenue Details, Threats In The Target Market and Forecast By 2025
The report offers insights on major market segments, top investment pockets, key player positioning, drivers & opportunities, and strategic developments in the industry. According to the report, the global solar power equipment market garnered $76.27 billion in 2017 and is projected to reach $188.3 billion through 2025, growing at a CAGR of 12.5% from 2018 to 2025.
Utility application segment to remain dominant through 2025
The utility segment accounted for more than half of the total market revenue in 2017 and is expected to maintain its lead position through 2025. However, the residential segment is expected to grow at the fastest CAGR of 13.3% during the forecast period. The commercial application segment is expected to grow at a steady rate during the forecast period.
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Solar panels to maintain revenue lead through 2025
Solar panels segment captured 60% of the total market share in 2017 and would retain its dominance through the forecast period. However, the mounting, racking, & tracking segment would grow at the fastest CAGR of 13.6% from 2018 to 2025. The report also provides a deep-dive analysis of storage systems.
Leaders of the industry
The key market players analyzed in the research include ABB Group, Canadian Solar, First Solar Inc., Hanwha Q CELLS, JA Solar, JinkoSolar, LONGi Solar, Shunfeng International, SunPower Corporation, and Trina Solar.
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Asia-Pacific to lead in terms of revenue, North America to grow the fastest
Asia-Pacific accounted for nearly half of the total market in 2017 and would remain lead contributor to global solar equipment market revenue through 2025. However, North America would grow at the fastest CAGR of 13.1% during the forecast period. The other regions analyzed in the report include Europe and Latin America, Middle East & Africa (LAMEA).
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