Press release
Solar Panel Market Size Worth USD 413.97 Billion in 2032 | Emergen Research
Solar Panel Market
Market Trends and Insights:
The renewable energy sector has experienced a significant surge in investments, with the global energy mix shifting towards cleaner sources. According to estimates by the International Energy Agency (IEA), renewable energy's contribution to global electricity generation has risen from 26% in 2020 to approximately 28% in 2021, with projections to reach 30% by 2023.
Get Free Sample Report and Related Graphs & Charts @https://www.emergenresearch.com/request-sample/2772
Drivers of Market Growth:
One of the primary drivers of market growth is the declining cost of producing electricity from renewable sources compared to traditional energy sources. Increased investments in renewable energy projects globally, such as the USD 14.5 billion invested in India's renewable energy sector between April and December 2022, underscore the growing importance of clean energy solutions.
Market Segment Insights:
The market is segmented based on solar panel type and grid type. Thin-film solar panels dominate the market due to their enhanced durability and affordability, making them suitable for utility-scale and commercial applications. On-grid solar panels hold the largest revenue share, driven by their simplicity and cost-effectiveness, while off-grid solar panels are expected to witness rapid growth, supported by government incentives and technological advancements.
End-Use Segments:
In terms of end-use, the utilities segment leads the market, driven by investments in large-scale solar structures and power plants. However, the residential segment is experiencing the fastest growth, fueled by the adoption of rooftop solar PV systems among households seeking reliable secondary power sources.
Market Restraints:
Despite the positive outlook, high initial investments and maintenance expenses remain significant challenges for market growth. Solar PV installations require substantial upfront investment, and ongoing maintenance costs can deter residential customers. Additionally, the need for frequent cleaning and inspections adds to the overall cost burden for users.
Request A Discount On The Report @https://www.emergenresearch.com/request-discount/2772
Future Outlook:
The global solar panel market is poised for continued growth, with innovations such as microgrids and advancements in solar panel technology driving market expansion. Government support through incentives and subsidies is expected to further accelerate market growth, particularly in residential and off-grid segments.
Solar Panel Top Companies and Competitive Landscape
The global solar panel market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective solar panels.
• Adani Group
• Canadian Solar
• First Solar
• Hanergy Thin Film Power Group
• JA Solar Technology Co. Ltd.
• Zhongli Sci-Tech
• KANEKA CORPORATION
• Risen Energy Co., Ltd.
• Shell International B.V.
• Soltecture GmbH
• Tata Power
• LONGi
• Trina Solar
• Hanwha Group
Solar Panel Latest Industry News
• In September 2022, Amazon India revealed its plans to build three solar farm projects in Rajasthan, totalling 420 megawatts (MW) of sustainable energy capacity. Three of the company's utility-scale renewable energy projects in India were being developed by ReNew Power (210 MW), Amp Energy India (100 MW), and Brookfield Renewable (110 MW).
• In August 2023, Trina Solar announced the opening of its most advanced Vertex N 700W+ series solar photovoltaic panels powered pioneering desalination facility in Jubail, Saudi Arabia.
• In June 2023, Canadian Solar Inc. announced the construction of a solar PV module manufacturing facility in Mesquite, Texas. This is the company's first American production facility.
Request Customization Of The Report @https://www.emergenresearch.com/request-for-customization/2772
Solar Panel Market Segment Analysis
For the purpose of this report, Emergen Research has segmented global solar panel market on the basis of type, grid type, technology, installation type, distribution channel, end-use and region:
• Type Outlook (Revenue, USD Billion; 2019-2032)
o Monocrystalline Solar Panel
o Polycrystalline Solar Panel
o Thin-film Solar Panel
o Bifacial Solar Panel
o Perovskite Solar Panels
• Grid Type Outlook (Revenue, USD Billion; 2019-2032)
o On-grid
o Off-grid
• Technology Outlook (Revenue, USD Billion; 2019-2032)
o Solar Photovoltaic (PV)
o Concentrated Solar Power
o Crystalline Silicon
o Others
• Installation Type Outlook (Revenue, USD Billion; 2019-2032)
o Rooftop Solar Panels
o Ground-Mounted Solar Panels
o Floating Solar Panels
• Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
o Direct sales (B2B, B2C)
o Third-Party Sales (Distributors, Retailers)
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Residential
o Commercial
o Industrial
o Utilities
o Space & Defense
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Russia
8. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. India
5. ASEAN Countries
6. Oceania
7. Rest of APAC
o Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
o Middle East & Africa
1. GCC Countries
2. Israel
3. Turkey
4. South Africa
5. Rest of MEA
To Visit Full Report & Table of Contents Solar Panel Market : https://www.emergenresearch.com/industry-report/solar-panel-market
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Solar Panel Market Size Worth USD 413.97 Billion in 2032 | Emergen Research here
News-ID: 3473792 • Views: …
More Releases from Emergen Research
Global Internet of Things (IoT) in Healthcare Market to Reach USD 299.05 Billion …
The global Internet of Things (IoT) in Healthcare Market was valued at USD 299.05 billion in 2023 and is expected to grow at a CAGR of 16.5% during the forecast period. This growth is fueled by the rising use of connected healthcare devices, increasing demand for early disease detection through remote monitoring, and growing adoption of artificial intelligence (AI) tools within IoT-based healthcare systems.
The market is also benefiting from the…
Global Stem Cell Therapy Market to Reach USD 49.2 Billion by 2034, Growing at 13 …
The global Stem Cell Therapy Market, valued at USD 13.7 billion in 2024, is projected to reach USD 49.2 billion by 2034, expanding at a compound annual growth rate (CAGR) of 13.6%. Growth is being fueled by the rising burden of chronic diseases, rapid progress in cell-based studies, and increasing investments in regenerative medicine and personalized healthcare solutions.
Stem cell therapies offer the ability to repair, replace, or restore damaged tissues…
Artificial Intelligence Strengthens Cybersecurity as Threats Grow More Sophistic …
The global Artificial Intelligence in cybersecurity market size was USD 23.8 Billion in 2023 and is expected to reach a market valuation of USD 29.44 billion by the end of 2024 registering a CAGR of 23.7% during the forecast period. The adoption of Artificial Intelligence (AI) in cybersecurity is rapidly gaining traction as organizations worldwide face increasingly complex and frequent cyber threats. By combining advanced technologies such as Machine Learning…
Global Regenerative Medicine Market to Reach USD 125.6 Billion by 2034, Growing …
The global regenerative medicine market, valued at USD 34.2 billion in 2024, is set to grow to USD 125.6 billion by 2034, expanding at a compound annual growth rate (CAGR) of 13.9%. Growth is being fueled by rising approvals of advanced therapies, strong demand for personalized treatments in cancer and orthopedics, and expanding cell and gene therapy manufacturing across major markets such as North America, Europe, and Asia.
Once seen as…
More Releases for Solar
Biohybrid Solar Cell Market Professional Survey Report 2022 - Jinko Solar, JA SO …
The Biohybrid Solar Cell Market Report 2022 provides a comprehensive analysis of observable trends and projections. This research shows how to attract a large number of customers. Our certified crew of economists, researchers, and advisers has made further attempts in projecting the global industry by utilising accredited global Biohybrid Solar Cell market information tools as well as various instruments and ways to successfully review and get information. The research argues…
Home Solar Power System Market Size, Share, Trends, Growth - Tesla, Panasonic So …
The Global Home Solar Power System Market study includes new innovations, market dynamics, strategic profiling in terms of the future market strategies and shares for the subsectors of the industry. This research consists of details related to the size of the industries, the major players, markets, sales volume and value. This study offers a detail data on the historical data pointers as well as forecasts by region/country for the sectors…
Solar PV Module Market Outlook To 2024 - Trina Solar, Canadian Solar Inc., JA So …
Solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam's Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects. Ongoing electrification programs and incentives benefit pertaining to grid connected power generation is surging the demand for on-grid solar PV modules. On-grid connection represented 55% of the overall solar…
Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others.
This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such…
Solar PV Module Market By Key Vendors: Trina Solar, Canadian Solar Inc., JA Sola …
UK solar PV module market is set to expand owing to government initiatives towards sustainable energy integration. The export tariff introduced by the UK government facilitates USD 0.06 per unit for the surplus electricity injected back to the grid by the generator. Favorable government reforms with ambitious plan towards carbon footprint reduction will further boost the business outlook.
Request for a sample of this research report @
https://www.gminsights.com/request-sample/detail/1563
Solar PV Module Market size…
Global Solar Thermal Market 2016 Abengoa Solar, SUPCON Solar, Solar Euromed
Global Solar Thermal Market Research Report
The MRS Research Group Solar Thermal report by QY Research represents an inclusive evaluation of the Solar Thermal Market and comprises considerable insights, historical data, facts,and statistical and industry-validated data of the global market.Additionally,it consists of estimated data that is evaluated with the help of suitable set of methodologies and assumptions.The MRS Research Group report research highlights informative data and in-depth analysis of Solar Thermal…
