Solar Power Equipment Market Growth Set to Surge Significantly during the forecast period 2018-2025

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.

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%.

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.

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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.

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.

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Table of Content

Chapter 1: Introduction

Chapter 2: Executive Summary

Chapter 3: Market Overview

Chapter 4: Solar Power Equipment Market by Equipment

Chapter 5: Solar Power Equipment Market, By Application

Chapter 6: Solar Power Equipment Market, By Region

Chapter 7: Company Profiles

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Posted by on Friday September 20 2019, 8:15 AM EDT. All trademarks acknowledged. Filed under Energy & Natural Resources, Energy Storage, Power, Utilities. Comments and Trackbacks closed. Follow responses: RSS 2.0

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