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
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.
|
Report Coverage |
Details |
|
Published Year: |
2021 |
|
Estimated Market Size in 2020: |
USD 76.23 billion |
|
Estimated Period: |
2020 |
|
Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
18.5% |
|
Predicted 2028 Value: |
USD 296.40 billion |
|
Forecast Years: |
2021-2028 |
|
Tables, Graphs& Figures |
258 |
|
Chapters Covered: |
Technology, Solar Module Panel, Application, Generation, Off-Grid, End User and Region |
|
Core Drivers and Opportunities: |
|
|
Restraining Factors & Market Threats: |
|
Technologies Covered:
• Harnessing Technology
• Concentrated Solar Power (CSP) Systems
• Capturing Technology
• Photovoltaic (PV) Systems
Solar Module Panels Covered:
• Amorphous Silicon Cells
• Mono-Crystalline Silicon Cells
• Cadmium Telluride
• Copper Indium Gallium Selenide (CIGS)
• Polycrystalline Silicon Cells
Applications Covered:
• Heating
• Electricity/Power Generation
• Charging and Lighting
Generations Covered:
• First Generation
• Second Generation
• Third Generation
Off-Grids Covered:
• Non-Residential
• Residential
End Users Covered:
• Transportation
• Agriculture & Horticulture
• Commercial
• Architecture
• Industrial
• Utility-Scale
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Solar Energy Market is majorly driven by increase in environmental pollution, surge in rooftop installations and increase in applications in the architectural sector.
The concentrated solar power (CSP) systems segment is growing at a highest CAGR due to the increasing support for CSP installations in the form of legislative policies in countries with limited oil & gas reserves.
Asia Pacific dominated with a significant market share due to the factors such as 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.
Europe market is growing at a highest CAGR owing to increase in applications of solar energy for power generation, agriculture, and architecture sectors in the region and increasing focus on researches to maximize the solar potential.
Key players in 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.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Solar Energy Market, By Technology
5.1 Introduction
5.2 Harnessing Technology
5.2.1 Solar Thermal Electricity
5.2.2 Artificial Photosynthesis
5.3 Concentrated Solar Power (CSP) Systems
5.3.1 Dish Stirling
5.3.2 Parabolic Trough
5.3.3 Fresnel Reflectors
5.3.4 Solar Power Tower
5.4 Capturing Technology
5.4.1 Passive Solar Technologies
5.4.2 Active Solar Technologies
5.5 Photovoltaic (PV) Systems
5.5.1 Inorganic
5.5.2 Organic
5.5.3 Amorphous Silicon Photovoltaic (PV) Panels
5.5.4 Thick-film Silicon Photovoltaic (PV) Panels
6 Global Solar Energy Market, By Solar Module Panel
6.1 Introduction
6.2 Amorphous Silicon Cells
6.3 Mono-Crystalline Silicon Cells
6.4 Cadmium Telluride
6.5 Copper Indium Gallium Selenide (CIGS)
6.6 Polycrystalline Silicon Cells
7 Global Solar Energy Market, By Application
7.1 Introduction
7.2 Heating
7.3 Electricity/Power Generation
7.4 Charging and Lighting
8 Global Solar Energy Market, By Generation
8.1 Introduction
8.2 First Generation
8.3 Second Generation
8.4 Third Generation
9 Global Solar Energy Market, By Off-Grid
9.1 Introduction
9.2 Non-Residential
9.3 Residential
10 Global Solar Energy Market, By End User
10.1 Introduction
10.2 Transportation
10.3 Agriculture & Horticulture
10.4 Commercial
10.5 Architecture
10.6 Industrial
10.7 Utility-Scale
11 Global Solar Energy Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Abengoa Solar S.A.
13.2 Acciona Energia S.A
13.3 Bright source Energy Inc.
13.4 Esolar Inc
13.5 Sunpower Corporation
13.6 Canadian Solar Inc
13.7 Sunways AG
13.8 Renesola
13.9 Bharat Heavy Electricals Limited (BHEL)
13.10 Motech Industries
13.11 Solar World AG
13.12 Tata Power
13.13 Gintech Energy Corp
13.14 First Solar Inc.
List of Tables
1 Global Solar Energy Market Outlook, By Region (2019-2028) ($MN)
2 Global Solar Energy Market Outlook, By Technology (2019-2028) ($MN)
3 Global Solar Energy Market Outlook, By Harnessing Technology (2019-2028) ($MN)
4 Global Solar Energy Market Outlook, By Solar Thermal Electricity (2019-2028) ($MN)
5 Global Solar Energy Market Outlook, By Artificial Photosynthesis (2019-2028) ($MN)
6 Global Solar Energy Market Outlook, By Concentrated Solar Power (CSP) Systems (2019-2028) ($MN)
7 Global Solar Energy Market Outlook, By Dish Stirling (2019-2028) ($MN)
8 Global Solar Energy Market Outlook, By Parabolic Trough (2019-2028) ($MN)
9 Global Solar Energy Market Outlook, By Fresnel Reflectors (2019-2028) ($MN)
10 Global Solar Energy Market Outlook, By Solar Power Tower (2019-2028) ($MN)
11 Global Solar Energy Market Outlook, By Capturing Technology (2019-2028) ($MN)
12 Global Solar Energy Market Outlook, By Passive Solar Technologies (2019-2028) ($MN)
13 Global Solar Energy Market Outlook, By Active Solar Technologies (2019-2028) ($MN)
14 Global Solar Energy Market Outlook, By Photovoltaic (PV) Systems (2019-2028) ($MN)
15 Global Solar Energy Market Outlook, By Inorganic (2019-2028) ($MN)
16 Global Solar Energy Market Outlook, By Organic (2019-2028) ($MN)
17 Global Solar Energy Market Outlook, By Amorphous Silicon Photovoltaic (PV) Panels (2019-2028) ($MN)
18 Global Solar Energy Market Outlook, By Thick-film Silicon Photovoltaic (PV) Panels (2019-2028) ($MN)
19 Global Solar Energy Market Outlook, By Solar Module Panel (2019-2028) ($MN)
20 Global Solar Energy Market Outlook, By Amorphous Silicon Cells (2019-2028) ($MN)
21 Global Solar Energy Market Outlook, By Mono-Crystalline Silicon Cells (2019-2028) ($MN)
22 Global Solar Energy Market Outlook, By Cadmium Telluride (2019-2028) ($MN)
23 Global Solar Energy Market Outlook, By Copper Indium Gallium Selenide (CIGS) (2019-2028) ($MN)
24 Global Solar Energy Market Outlook, By Polycrystalline Silicon Cells (2019-2028) ($MN)
25 Global Solar Energy Market Outlook, By Application (2019-2028) ($MN)
26 Global Solar Energy Market Outlook, By Heating (2019-2028) ($MN)
27 Global Solar Energy Market Outlook, By Electricity/Power Generation (2019-2028) ($MN)
28 Global Solar Energy Market Outlook, By Charging and Lighting (2019-2028) ($MN)
29 Global Solar Energy Market Outlook, By Generation (2019-2028) ($MN)
30 Global Solar Energy Market Outlook, By First Generation (2019-2028) ($MN)
31 Global Solar Energy Market Outlook, By Second Generation (2019-2028) ($MN)
32 Global Solar Energy Market Outlook, By Third Generation (2019-2028) ($MN)
33 Global Solar Energy Market Outlook, By Off-Grid (2019-2028) ($MN)
34 Global Solar Energy Market Outlook, By Non-Residential (2019-2028) ($MN)
35 Global Solar Energy Market Outlook, By Residential (2019-2028) ($MN)
36 Global Solar Energy Market Outlook, By End User (2019-2028) ($MN)
37 Global Solar Energy Market Outlook, By Transportation (2019-2028) ($MN)
38 Global Solar Energy Market Outlook, By Agriculture & Horticulture (2019-2028) ($MN)
39 Global Solar Energy Market Outlook, By Commercial (2019-2028) ($MN)
40 Global Solar Energy Market Outlook, By Architecture (2019-2028) ($MN)
41 Global Solar Energy Market Outlook, By Industrial (2019-2028) ($MN)
42 Global Solar Energy Market Outlook, By Utility-Scale (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.