Press release
Solar Energy Market Parameters, Opportunities and Demand Analysis By 2030
The solar energy market was valued at US$ 207,270.00 million in 2022 and is expected to reach US$ 552,450.28 million by 2030; it is anticipated to account for a CAGR of 13.0% from 2022 to 2030.The rise in energy consumption also boosted the need for alternative energy generation sources, as conventional energy resources such as fossil fuels are leading to environmental pollution. Renewable alternative options such as solar emerged to curb immense carbon emissions and their negative impact on the environment, along with the agenda of balancing the energy supply and demand.
Key Players
JinkoSolar Holding Co Ltd
Canadian Solar Inc
Trina Solar Co. Ltd
First Solar Inc
ADT Solar
ACCIONA Energ?a
BrightSource
Abengoa SA
Heliogen Inc
Nextera Energy
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The application of solar energy has rapidly increased in recent years due to its capability to reduce the adverse environmental effects of conventional energy resources such as coal, natural gas, and oil. Hence, governments of various countries across the globe imposed tax incentives and favorable policies to support the remarkable growth of solar energy. In 2022, the Government of India announced its plan to implement the Rooftop Solar Programme Phase II.
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Solar Energy Market Share Analysis by Geography
The geographic scope of the Solar Energy Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Growing focus on lowering environmental pollution by reducing greenhouse gas emissions and rising government initiatives toward increasing the stake of renewable energy resources in the overall power mix are major reasons for solar energy market growth in Asia Pacific. China, Australia, India, and Japan are a few key countries contributing to Asia Pacific's solar energy market growth. Growing focus on concentrated solar power plants and increasing demand for energy security are important drivers for the solar energy market in Asia Pacific.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Life Science, Technology, Healthcare, Manufacturing, Automotive and Defense, Food Beverages, Chemical etc.
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