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Solar Power Market Size, Share, and Analysis, By Technology (Photovoltaic Systems and Concentrated Solar Power Systems), By Application (Residential, Commercial, and Industrial), By Solar Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, and Others), By End-Use (Electricity Generation, Lighting, Heating, and Charging), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

June 2024 | 439 pages | ID: S217ABCAD4B0EN
Fatpos Global

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Solar Power Market Size, Share, and Analysis, By Technology (Photovoltaic Systems and Concentrated Solar Power Systems), By Application (Residential, Commercial, and Industrial), By Solar Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, and Others), By End-Use (Electricity Generation, Lighting, Heating, and Charging), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Solar Power Market is anticipated t%li%exhibit a Compound Annual Growth Rate (CAGR) of 11.6% during the forecast span from 2024 t%li%2034. In 2023, the market size was assessed at USD 185.5 billion and is projected t%li%reach USD 620.7 billion by the completion of 2034.

Solar energy is a sustainable and renewable source of electricity that is produced by collecting solar radiation energy. This method involves transforming sunlight int%li%useful energy using photovoltaic cells or concentrated solar power systems. Photovoltaic cells are typically integrated int%li%solar panels and directly convert sunlight int%li%electricity using semiconductor materials. Alternatively, concentrated solar power systems use mirrors or lenses t%li%focus sunlight ont%li%a small area, which generate heat that powers a steam turbine connected t%li%a generator. Solar power presents numerous benefits, including environmental friendliness due t%li%its minimal greenhouse gas emissions and contribution t%li%reducing climate change. Additionally, as an abundant and inexhaustible resource, sunlight offers long-term energy security and independence from finite fossil fuels. Therefore, despite initial setup costs, technological improvements have made solar power increasingly affordable and accessible, which paves the way for a clean and sustainable energy ecosystem.

MARKET HIGHLIGHTS

Solar Power Market is projected t%li%reach USD 620.7 billion over the forecast period, due t%li%various aspects such as environmental awareness, improvements in technology, and supportive policies by the government. The falling prices for solar technology, combined with government incentives, are responsible for the steady growth of solar power market. Moreover, the urgent need t%li%address climate change and reduce carbon emissions is encouraging residential and commercial users t%li%adopt solar solutions. Developing areas, such as utility-scale solar projects and modern energy storage devices, are gaining popularity among users. Simultaneously, well established markets are witnessing significant investments in solar infrastructure upgrades and research projects. Therefore, these factors collectively highlight the crucial role of solar power in creating a sustainable energy future for the entire world.

Solar Power Market Segments:
  • By Robot Type
  • Photovoltaic Systems
  • Concentrated Solar Power Systems
  • By Application
  • Residential
  • Commercial
  • Industrial
  • By Solar Module
  • Monocrystalline
  • Polycrystalline
  • Cadmium Telluride
  • Amorphous Silicon Cells
  • Others
  • By End-Use
  • Electricity Generation
  • Lighting
  • Heating
  • Charging
MARKET DYNAMICS

Growth Drivers

Technological Developments will Generate Growth Opportunities

Government Policies and Incentives will Drive Market Expansion

Restraint

Intermittency and Variability Concerns Could Limit the Industry's Growth

Key Players
  • First Solar
  • SunPower Corporation
  • Canadian Solar Inc.
  • JinkoSolar Holding Co., Ltd.
  • Trina Solar
  • LONGi Solar
  • JA Solar Holdings Co., Ltd.
  • Hanwha Q Cells Co., Ltd.
  • Yingli Solar
  • SolarEdge Technologies, Inc.
  • Enphase Energy, Inc.
  • REC Group
  • Vivint Solar
  • Sunrun Inc.
  • Tesla, Inc.
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons t%li%Purchase this Report
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
      • Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
    • The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
    • Provides insight int%li%the market through Value Chain
    • Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
  • 3-month post-sales analyst support.
1. EXECUTIVE SUMMARY

1.1.Regional Market Share
1.2. Business Trends
1.3.Solar Power Market: COVID-19 Outbreak
1.4.Regional Trends
1.5. Segmentation Snapshot

2. RESEARCH METHODOLOGY

2.1. Research Objective
2.2.Research Approach
2.3.Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
  2.5.1. Paid Sources
  2.5.2.Public Sources
2.6.Market Size Estimation and Data Triangulation

3. MARKET CHARACTERISTICS

3.1. Market Definition
3.2.Solar Power Market: COVID-19 Impact
3.3.Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data

4. SOLAR POWER MARKET – INDUSTRY INSIGHTS

4.1.Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability

5. MACROECONOMIC INDICATORS

6. RECENT DEVELOPMENTS

7.MARKET DYNAMICS

7.1. Introduction
7.2.Growth Drivers
7.3.Market Opportunities
7.4. Market Restraints
7.5.Market Trends

8. RISK ANALYSIS

9. MARKET ANALYSIS

9.1. Porters Five Forces
9.2.PEST Analysis
  9.2.1. Political
  9.2.2.Economic
  9.2.3.Social
  9.2.4.Technological

10. SOLAR POWER MARKET

10.1.Overview
10.2. Historical Analysis (2019-2022)
  10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast

11.SOLAR POWER MARKET SIZE & FORECAST 2024A-2034F

11.1.Overview
11.2. Key Findings
11.3. Market Segmentation
  11.3.1.By Robot Type
    11.3.1.1. Photovoltaic Systems
      11.3.1.1.1. By Value (USD Million) 2024-2034F
      11.3.1.1.2.Market Share (%) 2024-2034F
      11.3.1.1.3.Y-o-Y Growth (%) 2024-2034F
    11.3.1.2.Concentrated Solar Power Systems
      11.3.1.2.1.By Value (USD Million) 2024-2034F
      11.3.1.2.2. Market Share (%) 2024-2034F
      11.3.1.2.3. Y-o-Y Growth (%) 2024-2034F
  11.3.2. By Application
    11.3.2.1.Residential
      11.3.2.1.1.By Value (USD Million) 2024-2034F
      11.3.2.1.2. Market Share (%) 2024-2034F
      11.3.2.1.3. Y-o-Y Growth (%) 2024-2034F
    11.3.2.2. Commercial
      11.3.2.2.1. By Value (USD Million) 2024-2034F
      11.3.2.2.2.Market Share (%) 2024-2034F
      11.3.2.2.3.Y-o-Y Growth (%) 2024-2034F
    11.3.2.3. Industrial
      11.3.2.3.1. By Value (USD Million) 2024-2034F
      11.3.2.3.2.Market Share (%) 2024-2034F
      11.3.2.3.3.Y-o-Y Growth (%) 2024-2034F
  11.3.3. By Solar Module
    11.3.3.1.Monocrystalline
      11.3.3.1.1.By Value (USD Million) 2024-2034F
      11.3.3.1.2. Market Share (%) 2024-2034F
      11.3.3.1.3. Y-o-Y Growth (%) 2024-2034F
    11.3.3.2. Polycrystalline
      11.3.3.2.1. By Value (USD Million) 2024-2034F
      11.3.3.2.2.Market Share (%) 2024-2034F
      11.3.3.2.3.Y-o-Y Growth (%) 2024-2034F
    11.3.3.3. Cadmium Telluride
      11.3.3.3.1. By Value (USD Million) 2024-2034F
      11.3.3.3.2.Market Share (%) 2024-2034F
      11.3.3.3.3.Y-o-Y Growth (%) 2024-2034F
    11.3.3.4. Amorphous Silicon
      11.3.3.4.1. By Value (USD Million) 2024-2034F
      11.3.3.4.2. Market Share (%) 2024-2034F
      11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
    11.3.3.5. Others
      11.3.3.5.1. By Value (USD Million) 2024-2034F
      11.3.3.5.2.Market Share (%) 2024-2034F
      11.3.3.5.3.Y-o-Y Growth (%) 2024-2034F
  11.3.4. By End-Use
    11.3.4.1.Electricity Generation
      11.3.4.1.1.By Value (USD Million) 2024-2034F
      11.3.4.1.2. Market Share (%) 2024-2034F
      11.3.4.1.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.2. Lighting
      11.3.4.2.1. By Value (USD Million) 2024-2034F
      11.3.4.2.2.Market Share (%) 2024-2034F
      11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.3. Heating
      11.3.4.3.1. By Value (USD Million) 2024-2034F
      11.3.4.3.2. Market Share (%) 2024-2034F
      11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.4. Charging
      11.3.4.4.1.By Value (USD Million) 2024-2034F
      11.3.4.4.2. Market Share (%) 2024-2034F
      11.3.4.4.3. Y-o-Y Growth (%) 2024-2034F

12. NORTH AMERICA SOLAR POWER MARKET SIZE & FORECAST 2024A-2034F

12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
  12.3.1. By Robot Type
  12.3.2.By Application
  12.3.3.By Solar Module
  12.3.4.By End-Use
12.4. Country
  12.4.1. United States
  12.4.2.Canada

13. EUROPE SOLAR POWER MARKET SIZE & FORECAST 2024A-2034F

13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
  13.3.1. By Robot Type
  13.3.2.By Application
  13.3.3.By Solar Module
  13.3.4.By End-Use
13.4. Country
  13.4.1.Germany
  13.4.2.United Kingdom
  13.4.3.France
  13.4.4. Italy
  13.4.5.Spain
  13.4.6.Russia
  13.4.7.Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)

14. ASIA-PACIFIC SOLAR POWER MARKET SIZE & FORECAST 2024A-2034F

14.1.Overview
14.2. Key Findings
14.3. Market Segmentation
  14.3.1. By Robot Type
  14.3.2.By Application
  14.3.3.By Solar Module
  14.3.4. By End-Use
14.4. Country
  14.4.1. India
  14.4.2.China
  14.4.3. South Korea
  14.4.4. Japan
  14.4.5. Rest of APAC

15. MIDDLE EAST AND AFRICA SOLAR POWER MARKET SIZE & FORECAST 2024A-2034F

15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
  15.3.1. By Robot Type
  15.3.2.By Application
  15.3.3.By Solar Module
  15.3.4.By End-Use
15.4. Country
  15.4.1. Israel
  15.4.2.GCC
  15.4.3.North Africa
  15.4.4. South Africa
  15.4.5.Rest of Middle East and Africa

16. LATIN AMERICA SOLAR POWER MARKET SIZE & FORECAST 2024A-2034F

16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
  16.3.1. By Robot Type
  16.3.2.By Application
  16.3.3.By Solar Module
  16.3.4.By End-Use
16.4. Country
  16.4.1. Mexico
  16.4.2.Brazil
  16.4.3.Rest of Latin America

17. COMPETITIVE LANDSCAPE

17.1. Company market share, 2023
17.2.Key player overview
17.3. Key stakeholders

18. COMPANY PROFILES

18.1.First Solar
  18.1.1.Company Overview
  18.1.2.Financial Overview
  18.1.3.Key Product; Analysis
  18.1.4.Company Assessment
    18.1.4.1.Product Portfolio
    18.1.4.2. Key Clients
    18.1.4.3. Market Share
    18.1.4.4. Recent News & Development (Last 3 Yrs.)
    18.1.4.5. Executive Team
18.2.SunPower Corporation
18.3.Canadian Solar Inc.
18.4. JinkoSolar Holding Co., Ltd.
18.5.Trina Solar
18.6.LONGi Solar
18.7.JA Solar Holdings Co., Ltd.
18.8. Hanwha Q Cells Co., Ltd.
18.9.Yingli Solar
18.10.SolarEdge Technologies, Inc.
18.11. Enphase Energy, Inc.
18.12. REC Group
18.13. Vivint Solar
18.14.Sunrun Inc.
18.15. Tesla, Inc.
18.16.Other Prominent Players

19. APPENDIX

20.CONSULTANT RECOMMENDATION



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