Solar Energy Market Overviews
Solar energy is the sun's radiant energy that may be gathered using a range of technologies such as solar heating, photovoltaic cells, and other methods. It is a cost-effective unconventional energy source and a practical renewable response to rising greenhouse gas emissions and global warming. This report on the solar energy market is analysed and studied on the basis of technology, solar module, application, end-use and region.
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Solar Energy Market Scope and Methodology:
The phenomenal growth is part of a larger success story for renewable energy adoption in 2020. According to the International Renewable Energy Agency (IRENA), the world installed more than 260 GW of renewable energy capacity in 2020, nearly double the amount added in 2019. These figures tell a remarkable story of resilience and hope. Despite the challenges and uncertainty of 2020, renewable energy has emerged as an unmistakable source of hope for a better, more equal, resilient, and clean future. This growing adoption rate of renewable energy is propelling solar energy market growth
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Solar Energy Market Regional Insights
The Asia Pacific region dominated the market with a 46% share in 2023. The region’s growth is attributed to the region's growing demand for electricity, APAC is positioned to gain a significant revenue share in the solar energy market. The rising number of solar power plants and the growing population are two promising factors for regional market progress. The industry's growth will also be aided by a rising focus on ramping up new generation capacity and greater deployment of various solar technologies.
Solar Energy Market Segmentation
By Technology, the Solar Energy Market is segmented into Photovoltaic Systems and Concentrated Solar Power Systems. The Photovoltaic Systems segment dominated the market with 71.6% in 2023. Due to the increased desire for off-grid installations, the solar energy market size from photovoltaic (PV) systems is expected to grow significantly based on technology. Solar photovoltaics are becoming more popular as a means of converting solar energy to electricity. The growing requirement for storage grid networks, as well as the increased popularity of lithium ion-powered batteries, has emphasized the need to replace old conventional sources. In addition, an increase in the number of PV installations across the globe is also driving the segment growth.
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Solar Energy Market Key Players
First Solar Inc. (US)
Trina Solar Limited (China)
Sharp Corporation (Japan)
Yingli Solar (China)
RGS Energy (US)
JA Solar (China)
ReneSola (US)
Hanwha Q Cells (South Korea)
Motech Industries Inc. (Taiwan)
Waaree Grou12 (India)
Key questions answered in the Solar Energy Market are:
- What is Solar Energy ?
- What was the Solar Energy market size in 2023?
- What is the growth rate of the Solar Energy Market?
- Which are the factors expected to drive the Solar Energy market growth?
- What are the different segments of the Solar Energy Market?
- What growth strategies are the players considering to increase their presence in Solar Energy ?
- What are the upcoming industry applications and trends for the Solar Energy Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Solar Energy Market?
- Who are the leading companies and what are their portfolios in Solar Energy Market?
- What segments are covered in the Solar Energy Market?
- Who are the key players in the Solar Energy market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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