The global solar power equipment market was valued at $76,270.6 million in 2017, and is projected to reach $188,304.0 million in 2025
LONDON, Nov. 29, 2018 /PRNewswire/ -- Solar Power Equipment Market, by Equipment (Solar Panels, Mounting, Racking, & Tracking System, Storage System, and Others) and Application (Residential, Nonresidential, and Utility): Global Opportunity Analysis and Industry Forecast, 2018 - 2025
Download the full report: https://www.reportbuyer.com/product/5591569
Solar Power Equipment Market Overview :
The global solar power equipment market was valued at $76,270.6 million in 2017, and is projected to reach $188,304.0 million in 2025, growing at a CAGR of 12.5%. Solar power equipment are mounted on ground or rooftop to harness the sun's energy and convert it into electricity for further use by industrial, utility, commercial, or residential sector. Various types of solar power equipment include solar panels, solar batteries, solar mounting & racking system, solar trackers, solar inverters, and others.
Solar energy serves as a clean and environment-friendly energy source, which is anticipated to propel the demand for solar power equipment globally. In addition, solar photovoltaic (PV) rooftop system is a potential green technology, which combats climatic changes by decreasing dependence on conservative fossil fuel-based energy. Moreover, they help to meet the energy needs of residential and nonresidential buildings by providing electricity within an existing distribution network. However, high dependency on solar radiation and constant changes in weather conditions are the major challenges faced by the solar power equipment industry. On the contrary, improvements in technology are anticipated to offer lucrative opportunities for the players in the industry.
The global solar power equipment market is segmented based on equipment, application, and region. On the basis of equipment, the market is fragmented into solar panels, mounting, racking, & tracking system, storage system, and others. The solar panels segment is anticipated to dominate the global solar power equipment market throughout the study period. By application, it is categorized into residential, nonresidential, and utility. The utility segment is projected to grow at the highest rate in the near future.
The global solar power equipment market is analyzed across four geographical regions, which include North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific is expected to dominate the market throughout the forecast period.
The key players profiled in this report include ABB Group, Canadian Solar, First Solar Inc., Hanwha Q CELLS, JA Solar, JinkoSolar, LONGi Solar, Shunfeng International, SunPower Corporation, and Trina Solar.
Key Benefits for Solar Power Equipment Market :
The study provides an in-depth analysis of the global solar power equipment market, and current & future trends to elucidate the imminent investment pockets.
Information about the key drivers, restraints, and opportunities and their impact on the market is provided.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global solar power equipment market from 2017 to 2025 is provided to determine the market potential.
Solar Power Equipment Key Market Segments :
By Equipment
Solar Panels
Mounting, Racking, & Tracking System
Storage System
Others
By Application
Residential
Nonresidential
Utility
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY MARKET PLAYERS PROFILED IN THE REPORT
ABB Group
Canadian Solar
First Solar Inc.
Hanwha Q CELLS
JA Solar
Jinko Solar
LONGi Solar
Shunfeng International
SunPower Corporation
Trina Solar
Download the full report: https://www.reportbuyer.com/product/5591569
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com
SOURCE ReportBuyer
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article