DUBLIN--(BUSINESS WIRE)--The "Solar Energy Market by Technology, by Solar Module, by Application and End-Use: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026.
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 form of unconventional energy and a convenient renewable solution toward growing greenhouse emissions and global warming.
The growth of the solar energy market is driven by increase in environmental pollution and provision of government incentives & tax rebates to install solar panels. In addition, decrease in water footprint associated with solar energy systems has fueled their demand in power generation sectors. The demand for solar cells has gained major traction owing to surge in rooftop installations, followed by increase in applications in the architectural sector. Furthermore, the demand for parabolic troughs and solar power towers in electricity generation is expected to boost the demand for concentrated solar power systems.
The competition has significantly increased among manufacturers with the development in photovoltaic-based power distribution systems. Moreover, the price of solar modules differs significantly in regions of Europe and Asia-Pacific, as the market is demand oriented. In addition, reduced profitability of module manufacturers and market acquisition stress lead to decline in the prices of solar panels. Furthermore, fluctuating price of silver, which is a major raw material in solar module, drives the demand for solar panel installations and assist the solar energy market growth.
The adoption of PV system technology is marginally affected by factors such as reliability, overall production, and competitiveness. In addition, overall climatic conditions and geographical latitudes restrain the solar energy market growth, especially in snowfall- and rainfall-prone regions
The development of photovoltaic (PV) storage systems is essential to increase the ability of PV systems to replace the existing conventional sources. With the rise in demand for PV installations, the adoption of storage grid is projected to increase, which fuels the demand for lithium ionopowered battery for solar energy storage and increase the solar energy market growth.
The amorphous silicon cells segment is expected to witness maximum growth owing to increase in installations and utilization in solar panels. Moreover, the demand for copper indium gallium selenide (CIGS) is expected to increase during the forecast period, owing to rise in costoeffective solar panels. Furthermore, low-cost manufacturing and increase in efficiency of solar modules are projected to boost the demand for cadmium telluride during the forecast period in the solar energy industry.
Key Benefits for Solar Energy Market:
- This report entails the detailed study of solar energy market trends and forecast from 2018 to 2026 that assists to identify the prevailing market opportunities to capitalize on the global solar energy market and solar energy market size.
- Inodepth coverage of the drivers, restraints, and opportunities helps professionals to better understand the solar energy market behavior.
- This study further includes solar energy market share analysis in terms of technology, module, generation, and application across all geographies.
- Detailed study of the strategies of key leaders, partnerships, and acquisitions in the market is provided.
- Porter's Five Forces analysis examines the competitive structure of the solar energy market and assists strategists in better decisionomaking.
- Pinpoint analysis of geographical segments helps to identify opportunities for growth within the solar energy market.
Key Findings of the Solar Energy Market:
- The photovoltaic system is expected to grow at a CAGR of 25.1% from 2019 to 2026.
- The parabolic troughs under concentrated solar power systems is expected to grow at a CAGR of 10.3% during the forecast period.
- The solar power tower segment is expected to grow at a CAGR of 12.5%.
- North America is expected to register a CAGR of 19.0% during the forecast period.
- In Asia-Pacific, China expected to grow at a high CAGR of 25.0%.
Key Topics Covered:
Chapter 1: Introduction
1.1. Report Description
1.2.Key Market Segments
Chapter 2: Executive Summary
Chapter 3: Market Landscape
3.1.Market Definition And Scope
3.2.Parent/Peer Market Overview
3.4.Key Forces Shaping The Solar Energy Market
3.5.Market Share Analysis/Top Player Positioning, 2018
3.7.Value Chain Analysis
3.8.Impact of Government Regulations On The Market
Chapter 4: Solar Energy Market By Technology
4.2. Photovoltaic Systems
4.3. Concentrated Solar Power Systems
Chapter 5: Solar Energy Market By Solar Module
5.4. Cadmium Telluride
5.5. Amorphous Silicon Cells
Chapter 6: Solar Energy Market By Application
Chapter 7: Solar Energy Market By End-Use
7.2. Electricity Generation
Chapter 8: Solar Energy Market By Region
Chapter 9: Company Profiles
9.2. Acciona Energia S.A.
9.3. Wuxi Suntech Power
9.4. Bright Source Energy Inc Ltd
9.5. Esolar Inc
9.6. Intech Energy Corp
9.7. Kaneka Group
9.8. Sunpower Corporation
9.9. Canadian Solar Inc
9.10. Tata Power Solar
For more information about this report visit https://www.researchandmarkets.com/r/nv34ag