With the slowdown in world economic growth, the Solar Energy industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Solar Energy market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2018, Stratagem Market Insights analysts believe that in the next few years, Solar Energy market size will be further expanded, we expect that by 2023, The market size of the Solar Energy will reach XXX million $.
Solar energy is a renewable form of energy that is harnessed from the Sun using various technologies such as solar heating, photovoltaics, solar thermal energy, solar architecture, and artificial photosynthesis.
Decreasing deposits of fossil fuel worldwide are expected to propel growth of the global solar energy market over the forecast period. Fossil deposits are limited in nature. However, the use of oil, a major fossil fuel, is significantly increasing. For instance, according to the International Energy Agency, the U.S. alone will cover 80% of the world’s oil demand from 2018 to 2020. Moreover, increasing demand for energy is also expected to aid in growth of the market. For instance, according to the 2019 Annual Energy Outlook, the global energy demand is expected to grow by 1/3 through 2040.
However, availability of alternative renewable energy sources such as natural gas and wind energy is expected to hinder growth of the market. Moreover, high capital investment and inconsistent availability of solar energy is also expected to limit growth of the global solar energy market.
Increasing adoption of nuclear energy is a major trend that is expected to limit growth of the global solar energy market. For instance, in May 2020, the Department of Mineral Resources and Energy, Government of South Africa, announced its plans to procure an additional 2,500 megawatts of nuclear power capacity within the next five years.
Major governments are offering funding to promote R&D in solar energy. For instance, in May 2020, The Australian Renewable Energy Agency granted US$ 1.11 million to a feasibility study of BP Plc for producing hydrogen using wind and solar power.
The market is witnessing increasing investment. For instance, in May 2020, SunPower Corp. partnered with Technology Credit Union for a US$ 1 billion financing that is expected to reduce SunPower's operating costs through lower per-watt financing fees.
Key Takeaways
Increasing preference for solar energy among the populace expected to augment growth of the global solar energy market over the forecast period. For instance, in June 2019, a survey of CITE Research on behalf of Vivint Solar reported that 70 adults in the U.S. support a nationwide mandate requiring solar panels to be installed on all newly built homes.
Major players in the marker are focused on launching new products to expand their product portfolio. For instance, in July 2019, Sunrun Inc. launched Brightbox home solar and battery service in Texas, U.S.
Major players operating in the global solar energy market include, Indosolar Limited, Tata Power, SunPower Corp, Sunrun Inc., Solar Systems, Vivint Solar, Euro Multivision, Bharat Heavy Electricals, Tesla, and Central Electronics
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers.
Section 1: Definition
Section (2 3): Manufacturer Detail
Indosolar
Tata Power
Solar Systems
Euro Multivision
Bharat Heavy Electricals
Central Electronics
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Country (Middle East, Africa, GCC)
Section (5 6 7):
Product Type Segmentation
Photovoltaic technologies
Concentrated solar power technologies
Industry Segmentation
Residential
Commercial
Industrial
Channel (Direct Sales, Distributor) Segmentation
Section 8: —Trend (2018-2023)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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