Solar Power Equipment Market Size, 2023 Industry Trends, Regional Developments and Competitive Landscape Analysis Report 2031 | Canadian Solar, LONGi Solar, First Solar Inc.

The global solar power equipment market size was US$ 105.9 billion in 2021. The global solar power equipment market size is forecast to reach US$ 282.07 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.5% during the forecast period from 2022 to 2030.

Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1614

Solar power is the process of turning solar energy directly into electricity using photovoltaics (PV), indirectly through concentrated solar power, or both. In order to capture solar energy and transform it into electricity for usage in the utility, commercial, industrial, or residential sectors, solar power equipment is put on the ground or on rooftops. Solar panels, batteries, mounting & racking systems, track trackers, inverters, and other sorts of solar power equipment are just a few examples.

Factors Influencing Market Growth
The growing global warming, increase in awareness about the benefits of solar energy, and no fuel prices drive the global market.

The increasing adoption of solar power equipment among residential, non-residential, and utility applications boost the global market growth.

The rising emphasis on using eco-friendly and green energy is forecast to offer lucrative opportunities for the global market.

The supportive government initiatives and creative technological improvements fuel the global market growth.

The increased initial and installation prices of equipment may slow down the overall market growth.

Impact Analysis of COVID-19
The COVID-19 pandemic had a minimal impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. This resulted in travel limitations and limits on the imports and exports of numerous items. As a result, the supply chain for these goods and their entire range of goods was severely affected. The COVID-19 pandemic had a negative effect on the market for outdoor solar power equipment because of the travel restrictions and lockdowns that were enacted.

However, during COVID-19, there was a rise in the demand for power, which fueled the expansion of the market. Additionally, from 2019 to 2020, the overall exports of solar panel producers increased. Consequently, the COVID-19 pandemic had minimal adverse effects on the expansion of the market for solar power equipment.

Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to have considerable growth during the forecast period. As a result of the promising government incentives and technical expansions, rising awareness of consumers to use solar energy. In addition, the growing population, increasing urbanization, and a substantial rise in the demand for rooftop solar installations in residential and non-residential buildings. Thus, these factors drive regional market growth.

Get a Sample PDF copy of the report @
https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1614

Leading Competitors

The leading prominent companies profiled in the global solar power equipment market are:
ABB Group
Canadian Solar
LONGi Solar
First Solar Inc.
Hanwha Q CELLS
Shunfeng International
JA Solar
JinkoSolar
SunPower Corporation
Trina Solar
Other Prominent Players

Scope of the Report

The global solar power equipment market segmentation focuses on Equipment, Application, and Region.

Segmentation based on Equipment
Solar Panels
Mounting, Racking, & Tracking System
Storage System
Others

Segmentation based on Application
Non-residential
Residential
Utility

Inquire more and share questions if any before the purchase on this report at:-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1614

Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Meta Title: Solar Power Equipment Market Size, Share, Insight, and Forecast 2022 to 2030
Meta Description: Global Solar Power Equipment Market is projected to reach US$ 282.07 billion by the end of 2030 from US$ 105.9 billion in 2021, at a CAGR of 11.5%
Meta Keywords: solar power equipment market Size, solar power equipment market share, solar power equipment market trend, solar power equipment market Forecast, solar power equipment market insight

Key questions answered in the global market report are:

- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the market over the forecast period?
- What are the factors driving and restraining the market?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?

Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1614

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES Tel: +1 888 212 3539 (US - TOLL FREE)
Website:https://www.reportocean.com/

This release was published on openPR.