Solar Energy
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The global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026.Solar energy is the radiant energy released by the sun, which can be captured using a variety of technologies such as solar heating, photovoltaic cells, and other methods. It’s a cost-effective, clean alternative to rising greenhouse gas emissions and global warming.
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Increased air emissions and government incentives and tax rebates to install solar panels are driving the development of the solar energy industry. Furthermore, the reduced water footprint of solar energy systems has fueled their demand in the power generation market. The demand for solar cells has grown significantly because of an increase in rooftop installations, followed by an increase in architectural applications. In addition, the need for parabolic troughs and solar power towers in the electricity generation sector is expected to drive up demand for concentrated solar power systems.
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Based on technology, application, component, marketing channel and region, the global solar power markets are separated. The market is classified as photovoltaic and concentrated solar energy systems, depending on technology (parabolic trough, solar power tower, Fresnel reflectors and dish stirling). It is divided into monocrystalline, polycrystalline, cadmium telluride, amorphic silicone cells and other cells as per the solar module. It was classified as residential, commercial and industrial on the basis of application. The market is classified into generating, illuminating, heating and charging electricity depending on final use. Based on region-specific analysis, it is being conducted across North America and Europe (U.S., Canada, Mexico), Asia-Pacific and other regions of Europe (China, India, Japan, South Korea, Australia and Asia-Pacific), and LAMEA across the entire region of Asia and Pacific (Brazil, South Africa, Israel, and rest of LAMEA).
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Emerging economies such as China and Japan have significantly increased the production of solar technologies owing to governmental tariffs and merger & acquisition of local manufacturers. Moreover, North America and Europe have largely focused on researches to maximize the solar potential. Middle East and Africa have also gained traction owing to increase in applications of solar energy for power generation, agriculture, and architecture.
Regional Outlook (Revenue, USD Billion, 2021 – 2027)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East and Africa (MEA)
Competition
Key players in the solar energy sector are Urja Global Limited (India), Waaree Group (India), Canadian Solar Inc. (Canada), Abengoa (Spain), BrightSource Energy, Inc. (U.S.), Tata Power Solar Systems Ltd. (India), First Solar (U.S.), eSolar Inc. (U.S.).Â
Topics this report will cover:
- Market size from 2019 to 2027
- Revenue Forecast from 2020 to 2027
- Market segmentation and active players
- Market trends and opportunities
- Competitive landscapeÂ
- Regional analysisÂ
- Related IndustriesÂ
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Report Attribute | Details |
Market size value in 2020 | XXXX Bn USD |
Revenue forecast in 2027 | XXXX Bn USD |
Growth rate | CAGR of XX% from 2022 to 2027 |
Base year for estimation | 2019 |
Historical data | 2016-2020 |
Forecast period | 2021 – 2027 |
Quantitative units | Revenue in USD million/billion and CAGR from 2020 to 2027 |
Report coverage | Revenue forecast, competitive landscape, growth drivers, industry segments, trends. |
Segments covered | Type, distribution channel, region |
Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope | U.S., U.K., UAE, India, China, Columbia |
Key companies profiled | Market Leaders in each region |
Customization scope | Free report customization (equivalent up to 6 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. Customization based on client specific requirements available. |
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