Market Research Report
Solar Energy Market Forecasts to 2028 - Global Analysis By Technology (Harnessing Technology, PV Systems), Application (Heating, Power Generation), Generation (First Generation, Second Generation) and By Geography
|Solar Energy Market Forecasts to 2028 - Global Analysis By Technology (Harnessing Technology, PV Systems), Application (Heating, Power Generation), Generation (First Generation, Second Generation) and By Geography|
Published: August 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Solar Energy Market is accounted for $76.23 billion in 2020 and is expected to reach $296.40 billion by 2028 growing at a CAGR of 18.5% during the forecast period. Increase in environmental pollution, surge in rooftop installations and increase in applications in the architectural sector are driving the market growth. However, climatic conditions and geographical latitudes are hampering the growth of the market.
Solar energy is the radiant energy emitted from the sun, which is harnessed by using various technologies such as solar heating, photovoltaic cells, and others. It is an efficient renewable energy, and mitigates environmental risks that arise from greenhouse gas emissions.
Based on the technology, the concentrated solar power (CSP) systems segment is going to have lucrative growth during the forecast period due to the increasing support for CSP installations in the form of legislative policies in countries with limited oil & gas reserves and a need for energy storage is set to drive the segment growth in the years ahead.
By geography, Asia Pacific is going to have high growth during the forecast period due to the expansion of solar power production in emerging countries such as Japan, India, and China and those countries are contributing to the progress of the APAC region. Moreover, increasing demand for electricity owing to rising population and fast industrialization increases the market growth.
Some of the key players profiled in the Solar Energy Market include Abengoa Solar S.A. , Acciona Energia S.A, Bright source Energy Inc., Esolar Inc, Sunpower Corporation, Canadian Solar Inc, Sunways AG, Renesola, Bharat Heavy Electricals Limited (BHEL), Motech Industries, Solar World AG, Tata Power, Gintech Energy Corp and First Solar Inc.
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End Users Covered:
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.