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Solar Power Equipment Market Study of Revenue Details, Threats In The Target Market and Forecast By 2025

07-16-2019 04:42 PM CET | Energy & Environment

Press release from: allied market research

Solar Power Equipment Market Study of Revenue Details, Threats

Surge in demand for electricity globally, implementation of government policies to deploy solar power systems, and widespread installation of solar panels in homes to reduce carbon footprint and minimize electricity costs drive the growth of the solar power equipment market. However, high cost of deploying such systems and dependence on sunlight availability & direct normal irradiance (DNI) are expected to hinder the market growth. In addition, growing awareness on use of green, eco-friendly energy and innovative technological advancements in the sector are expected to provide lucrative opportunities for the growth of the global solar power equipment market.

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.

Download Sample Report@https://www.alliedmarketresearch.com/request-sample/4271

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.

Have Any Query? Ask our Research Experts:https://www.alliedmarketresearch.com/purchase-enquiry/4271

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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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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