Press release
Solar Farm Market Size Forecasted To Achieve $292.81 Billion By 2029 With Steady Growth
Solar Farm Market Size
What Is the Solar Farm Market Size and Projected Growth Rate?
The market size of solar farms has witnessed substantial growth in the past few years, expanding from a worth of $117.57 billion in 2024, it is projected to increase to $141.98 billion in 2025, indicating a compound annual growth rate (CAGR) of 20.8%. Factors contributing to this growth during the historical period include government subsidies and incentives, lower costs of solar panels, energy policies and regulations, initiatives for corporate sustainability, public awareness, and environmental concerns.
In the upcoming years, the solar farm market size is projected to experience swift expansion, with a forecast to reach $292.81 billion by 2029, growing at a compound annual growth rate (CAGR) of 19.8%. The anticipated growth during the forecast period is due to the rise of energy storage solutions, advancements in solar farm designs, governmental pledge towards renewable energy goals, and the expansion of community solar initiatives. Dominant trends during the forecast period encompass a broadening of market participants, emphasis on environmental and societal impact, incorporation of digital tech in operations and maintenance, innovations in pricing and financing, and adoption of bifacial solar panels.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12072
What Are the Major Segments in the Solar Farm Market?
The solar farm market covered in this report is segmented -
1) By Type: Surface Suction, Utility-Scale, Distributed Generation, Microgrids, Other Types
2) By Technology: Solar Photovoltaic, Mono-Si, Thin Film, Multi-Si, Other Technologies
3) By End Use Industry: Residential, Commercial, Industrial
Subsegments:
1) By Surface Suction: Floating Solar Farms, Ground-Mounted Solar Farms
2) By Utility-Scale: Large-Scale Solar Power Plants, Concentrated Solar Power (CSP) Facilities
3) By Distributed Generation: Rooftop Solar Systems, Community Solar Projects
4) By Microgrids: Off-Grid Solar Systems, Hybrid Solar Systems With Battery Storage
5) By Other Types: Agrivoltaics (Combining Agriculture With Solar Farms), Solar Thermal Farms
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12072&type=smp
What Are The Driving Solar Farm Market Evolution?
The rise in need for electricity generated from renewable resources is playing a crucial role in advancing the solar farm market. Renewable power pertains to energy derived from continually replenishing resources. Solar farms harness solar power to generate both electricity and thermal energy. They have the capacity to meet global energy needs 100 times over when compared to other renewable resources, making them ideal to tackle the growing demand for renewable energy worldwide. For example, forecasts from the International Energy Agency (IEA), an intergovernmental organization based in France, in July 2024 projected that the contribution of renewable energy to the global electricity supply is expected to increase from 30% in 2023 to 35% in 2025. Consequently, this escalating demand for power generated from green energy sources will propel the solar farm market.
Which Firms Dominate The Solar Farm Market Segments?
Major companies operating in the solar farm market include Elevation Solar LLC., NextEra Energy Inc., Sharp Corporation, LONGi Green Energy Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Trina Solar Co. Ltd., Avangrid Inc., JA Solar Technology Co Ltd, Canadian Solar Inc., First Solar Inc., SunPower Corporation, Sunrun Inc., Cypress Creek Renewables LLC., Momentum Solar LLC., Blue Raven Solar, Sunnova Energy International Inc., Shenzhen Topray Solar Co. Ltd., BrightSource Energy Inc., RenewSys India Pvt. Ltd., Freedom Solar LLC., Ecoplexus Inc., Southern Current LLC., Tata Power Solar System Inc., The Solaria Corporation, ADT Solar, Hanwha Qcells GmbH, Recurrent Energy LLC., Vikram Solar Ltd., Solar Systems Ltd.
What Trends Are Expected to Dominate the Solar Farm Market in the Next 5 Years?
Advancements in product development are emerging as a pertinent trend within the solar farm industry. Major players in this market are focused on broadening the applications of solar farms and amalgamating them with other large-scale ventures. For instance, Starlight, an enterprise based in Italy that specializes in developing solar farms, launched the Agri-eco Voltaics project, "Land of the Sun", in September 2022. This project incorporates solar photovoltaics with modern, sustainable farming and territory restoration, potentially addressing profound economic and social issues in the future while maximizing land productivity. It establishes and manages an agrivoltaics facility that generates power from the sun in parallel with effective nurturing and harvesting of crops. This has opened the door to a replicable model of dual land utilization that can be adapted around the globe.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/solar-farm-global-market-report
Which Is The Largest Region In The Solar Farm Market?
Asia-Pacific was the largest region in the solar farm market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the solar farm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Solar Farm Market?
2. What is the CAGR expected in the Solar Farm Market?
3. What Are the Key Innovations Transforming the Solar Farm Industry?
4. Which Region Is Leading the Solar Farm Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Farm Market Size Forecasted To Achieve $292.81 Billion By 2029 With Steady Growth here
News-ID: 4000857 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
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…
