With the emergence and long-term Impact of COVID-19, Global Solar Energy Market to reach USD xx billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Solar Energy Market points towards a potential rise to USD xx billion by 2030. Solar energy is the radiant energy emitted by the sun, which can be harnessed and converted into various forms of usable power. This energy is abundant and sustainable, making it a popular choice for clean and renewable energy solutions. There are two primary ways to harness solar energy: photovoltaic (PV) technology and solar thermal technology.
The key factors driving the market growth are the growing demand for renewable energy sources, the rise in concerns over climate change and environmental issues, and cohesive government incentives & regulations that are anticipated to support the market growth during the forecast period 2023-2030.
Geographically, the global Solar Energy market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to supportive government incentives and policies, growing public awareness of environmental issues and the need for sustainable energy sources, and ongoing advancements in solar technology, energy storage, and grid integration. Whereas, the Asia Pacific is expected to grow with the fastest growth rate over the forecast period, owing to factors such as the supportive regulatory frameworks and policies, advances in solar technology, particularly the manufacturing of photovoltaic (PV) cells and panels, and increasing awareness of environmental issues that anticipated to support the regional market growth.
The global Solar Energy market is highly competitive owing to the presence of several key players such as Hanwha Q Cells Co., Ltd. Trina solar Canadian Solar Inc SolarEdge Technologies JA Solar Holdings Co. Ltd. First Solar, Inc. JinkoSolar Holding Co., Ltd. Yingli Green Energy Holding Company Limited Enphase Energy, Inc. SunPower Corporation, and others.
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Key findings of the study suggest:
- Global Solar Energy Market is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030.
- In the Technology segment, Photovoltaic Systems emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to supportive government incentives and policies in the region.
- Asia Pacific is expected to grow at higher rate owing to advances in solar technology in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Technology:
- Photovoltaic Systems
- Concentrated Solar Power Systems
By Solar Module:
- Cadmium Telluride
- Amorphous Silicon Cells
- Monocrystalline
- Polycrystalline
- Others
By Application:
- Residential
- Commercial
- Industrial
By End-Use:
- Electricity Generation
- Lighting
- Heating
- Charging
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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