Press release
Solar Power Equipment Market Opportunity Assessment, Market Challenges, Key vendor analysis, Vendor landscape by 2030
The global solar power equipment market was valued at $101.9 billion in 2020 and is projected to reach $310.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.3% from 2021 to 2030.
Download PDF Sample Copy: https://www.alliedmarketresearch.com/request-sample/4271
Solar power equipment, installed either on the ground or rooftops, captures sunlight and converts it into electricity for use across industrial, utility, commercial, and residential sectors. These systems comprise various components designed to harness, store, and supply solar energy efficiently whenever needed.
Solar Power Equipment Market Insights 2030
Market Dynamics
The heavy reliance on fossil fuels for electricity generation and transportation has significantly contributed to global warming, driving a demand for renewable energy sources like solar power. With increasing awareness of environmental degradation and fossil fuel depletion, governments worldwide have implemented policies and initiatives to boost the renewable energy sector. This has led to a surge in residential, commercial, and industrial adoption of solar energy, creating robust growth opportunities for the solar power equipment market.
The International Energy Agency (IEA) reported a 7% increase in renewable energy generation in 2020, with solar photovoltaic (PV) and wind technologies accounting for 60% of this growth. Renewable energy's share of global electricity generation also rose to 29% in 2020, a record annual increase of two percentage points. The expansion of renewable power generation is crucial for achieving net-zero carbon emissions by 2050, a goal set by numerous countries.
Full Report With TOC: https://www.alliedmarketresearch.com/solar-power-equipment-market
In line with this, the Indian government established the International Solar Alliance (ISA) to promote solar energy and reduce fossil fuel dependency. This initiative has garnered participation from over 100 countries, including the United States and Antigua and Barbuda, which joined in 2021 and 2022, respectively. Additionally, the rising adoption of solar-powered residential applications, such as water heating, and the installation of solar streetlights in urban areas have fueled market growth. Smart city projects in countries like India are expected to further bolster the adoption of solar energy.
Technological Advancements
Advancements in solar technology have significantly reduced the cost of solar equipment, making it more accessible for residential users. Innovations such as smart tracking systems have enhanced the efficiency of solar power systems, further driving their adoption. The depletion of fossil fuel reserves underscores the importance of efficient renewable energy harnessing, creating a favorable environment for solar power equipment market growth.
Market Segmentation
By Equipment
Solar Panels: Expected to maintain a dominant market share throughout the forecast period.
Mounting, Racking & Tracking Systems
Storage Systems
Others
By Application
Residential
Non-Residential
Utility: Held the largest market share in 2020.
By Region
Asia-Pacific: Dominated the market in 2020 and is anticipated to continue its growth trajectory, driven by large-scale production in countries like China and India.
North America
Europe
LAMEA (Latin America, Middle East, and Africa): Expected to register the highest CAGR during the forecast period.
Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4271
Competitive Landscape
Key players in the solar power equipment market include:
ABB Group
Canadian Solar
First Solar Inc.
Hanwha Q CELLS
JA Solar
JinkoSolar
LONGi Solar
Shunfeng International
SunPower Corporation
Trina Solar
These companies have adopted strategies like product launches and business expansions to meet the growing demand for solar power equipment.
Key Benefits for Stakeholders
Comprehensive Market Analysis: Detailed insights into market trends, dynamics, and segment performance from 2021 to 2030.
Regional Opportunities: Analysis of market performance across North America, Europe, Asia-Pacific, and LAMEA to identify growth hotspots.
Competitive Insights: Profiling of key market players and evaluation of their strategies to understand the competitive landscape.
Technology Trends: Examination of technological advancements enhancing solar power equipment efficiency and affordability.
Future Projections: Forecasts to guide stakeholders in making informed decisions and capitalizing on emerging opportunities.
Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the report
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 Power Equipment Market Opportunity Assessment, Market Challenges, Key vendor analysis, Vendor landscape by 2030 here
News-ID: 3771265 • Views: …
More Releases from Allied Market Research
Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices.
Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529
What Are Urinary Drainage Bags?
Urinary drainage bags are specialized medical devices designed to collect…
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031.
The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growth…
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil …
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict…
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of …
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise in…
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…
