Solar Power Equipments Market Key Players, End User Demand and Analysis Growth

solar power equipment market size was valued at $101.9 billion in 2020, and is projected to reach $310.4 billion by 2030, registering a CAGR of 11.3% from 2021 to 2030. The market is divided into solar panels, mounting, racking and tracking systems, storage systems, and others based on equipment. Due to the rise in demand for solar power equipment from both residential users and utility providers, the solar panels sector, which had the largest market share among these in 2020, is anticipated to experience considerable growth over the course of the forecast period. The market is examined in light of various industrial, residential, nonresidential, and utility uses. The market is primarily driven by a rise in public awareness of the value of adopting renewable energy sources, as well as by government initiatives and laws that promote this trend. However, a significant barrier to industry expansion is the great reliance of solar power systems on solar radiation.
As a clean and environmentally friendly energy source, solar energy is expected to drive up demand for solar power equipment globally. Additionally, a solar photovoltaic (PV) rooftop system is a promising environmentally friendly technology that fights climatic changes by reducing reliance on electricity produced from unreliable fossil fuels. Moreover, by supplying electricity inside an established distribution network, they aid in meeting the energy requirements of both residential and non-residential structures. However, the industry for solar power equipment has significant difficulties due to its heavy dependence on solar radiation and the unpredictable nature of the weather. On the other hand, technological advancements are predicted to present profitable prospects for the industry's players.

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Solar Power Equipments Market: Segment Analysis
Global Solar Power Equipments Market: Major Players
First Solar Inc.
SunPower Corporation
Canadian Solar
ABB Group
JinkoSolar
Trina Solar.
JA Solar
Shunfeng International
LONGi Solar
Hanwha Q CELLS

Global Solar Power Equipments Market: By Types
Solar Panels
Mounting, Racking, & Tracking System
Storage System
Others

Global Solar Power Equipments Market: By Applications
Residential
Nonresidential
Utility

Global Solar Power Equipments Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Oil Shale market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Findings Of The Study
The report provides an extensive analysis of the current and emerging solar power equipment market trends and dynamics.
Depending on equipment, the solar panels segment dominated the solar power equipment, in terms of revenue in 2020 and the storage systems segment is projected to grow at a significant CAGR during the forecast period.
By application, the utility segment registered highest revenue in 2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth solar power equipment market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
The key players within the solar power equipment industry are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the industry.

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