The advancements in photovoltaic technology in recent years have boded well for the global solar power market. Growing awareness of the adverse effects of pollution and minimizing greenhouse gases have contributed to the demand for solar power across the world. Furthermore, increasing efforts towards ensuring optimum solar energy consumption will aid the growth of the global solar power market in the forthcoming years. The increasing investment in the development of solar power and related energy generation devices from private as well as government organizations has contributed to the growth of the global market.
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Top Players Overview:
- Abengoa Solar S.A.
- Acciona Energia S.A.
- Wuxi Suntech Power Co. Ltd.
- Bright source Energy Inc.
- Esolar Inc.
- Gintech Energy Corp.
- Kaneka Corp.
- Sunpower Corporation
- Canadian Solar Inc.
- First Solar
- Jinko Solar
- Hanwha Q Cells
- Trina Solar
- JA Solar Co. Ltd.
- LONGi Solar
- Sharp Corporation
- Risen Energy Co. Ltd.
- Auxin Solar inc.
- Sunpro Power Co., Ltd
- CSG PVTECH CO., LTD.
- Kyocera Corporation
- Panasonic Corporation
- DMEGC Germany GmbH
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The global solar power market will derive growth from the increasing awareness regarding conservation of conventional energy sources and reducing environmental pollution. According to a report published by Fortune Business Insights, titled “Solar Power: Global Market Analysis, Insights and Forecast, 2027,” the market estimated to be at 680.22 GW in 2019. Fortune Business Insights has predicted that the market will reach 4766.82 GW by 2027, thereby exhibiting a CAGR of 30.7%.
1. By Technology
- Solar Photovoltaic (PV)
- Mono-si (Monocrystalline)
- Multi-si (Polycrystalline)
- Concentrated Solar Power (CSP)
- Parabolic Trough
- Power Tower
- Linear Fresnel
2. By Application
3. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Market.
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
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Table of Content
5. Global Solar Power Market Analysis (MW & USD Mn), Insights and Forecast, 2015-2027
5.1. Key Findings
5.2. Market Analysis, Insights and Forecast – By Technology
5.2.1. Solar Photovoltaic
5.2.2. Concentrated Solar Power
5.3. Market Analysis, Insights and Forecast – By Application
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Latin America
5.4.4. Asia Pacific
5.4.5. Middle East & Africa
6. North America Solar Power Market Analysis (MW & USD Mn), Insights and Forecast, 2015-2027
6.1. Key Findings
6.2. Market Analysis, Insights and Forecast – By Technology
6.2.1. Solar Photovoltaic
6.2.2. Concentrated Solar Power
6.3. Market Analysis, Insights and Forecast – By Application
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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