Solar park market set to reach $ 261.0 billion worldwide at 19.8% CAGR by 2027: Allied Market Research

PORTLAND, Ore., March 8, 2021 / PRNewswire / – Allied Market Research released a report titled “Solar Farming Market by Type (utility scale, distributed generation, microgrids, and others) and consumer industries (residential, commercial, and industrial): Global Opportunity Analysis and Industry Forecast, 2020-2027.” According to the report generated the global solar park industry $ 61.4 billion in 2019 and is estimated to generate $ 261.0 billion by 2027 with a CAGR of 19.8% from 2020 to 2027.

Main determinants of growth

Supporting government regulations for the use of photovoltaic technology determine the global market for solar parks. However, high installation costs hamper market growth. In contrast, the increasing demand for renewable energies offers new opportunities in the years to come.

Download Sample PDF (284 Pages Insight PDF): https://www.alliedmarketresearch.com/request-sample/10607

Covid-19 scenario

• The production activities for solar parks were discontinued due to the lockdown imposed in many countries. In addition, there was a shortage of raw materials.
• China is the world’s largest supplier of solar modules. The cessation of manufacturing activity in the country had an impact on the global market, particularly in the United States and the United States South East Asia.
• Due to the economic uncertainty due to an ongoing pandemic, some solar park projects have been postponed or canceled.

The supply-scale segment to maintain its leading position throughout the forecast period

Depending on the type, the utility segment contributed around half of the global solar park market in 2019 and is expected to maintain its leading position over the forecast period. This is due to increased investments in network expansion and integration technologies such as storage and UV connectivity. For the decentralized generation segment, however, the highest CAGR of 20.3% is forecast from 2020 to 2027.

Get Detailed COVID-19 Impact Analysis On Solar Farming Market: https://www.alliedmarketresearch.com/request-for-customization/10607?reqfor=covid

The commercial segment is expected to maintain its leadership status through 2027

Based on the end-use industry, the commercial segment had the highest market share in 2019 with around three-fifths of the global solar power plant market in 2019 and is expected to maintain its leadership status through 2027. In addition, this segment has the highest CAGR of 20.3% forecast from 2020 to 2027. This is due to the growth of economies around the world, increasing urbanization and the adoption of solar energy by commercial buildings like offices, shopping malls, airports and others to help reduce the CAGR carbon footprint. The research also analyzes the industrial segment.

Asia Pacific, followed by North Americato maintain its dominant position until 2027

Based on the region, Asia Pacific, followed by North AmericaThe company had the largest market share in 2019 and contributed more than two-thirds to the global solar park market. It is expected to maintain its dominant position in terms of revenue through 2027. This is due to the increase in government initiatives to reduce the demand for PV power and distribution of solar lighting systems in rural areas. However, Europe is expected to grow at the fastest CAGR of 21.1% from 2020 to 2027, reflecting increasing solar energy production, the increase in construction activity leading to the installation of BIPV systems for power generation, and the implementation of stringent environmental regulations to reduce CO2 Emissions.

Schedule a FREE consultation with our analysts / industry experts to find a solution for your company at https://www.alliedmarketresearch.com/connect-to-analyst/10607

Leading market players

• Trina Solar
• Sharp Corporation
• TATA Power Solar Systems Ltd.
• First Solar, Inc.
• BrightSource Energy, Inc.
• Shenzhen Topray Solar Co. Ltd.
• JA Solar Holdings Co. GmbH.

Access AVENUE – a subscription-based library (premium on-demand subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report databases that provides comprehensive reports on the world’s largest emerging markets. In addition, it offers electronic access to all available industry reports in no time at all. By providing core business intelligence to the various industries, economies and end users around the world, Avenue ensures that registered members have a simple and unified gateway to their all-inclusive needs.

Avenue Library Subscription | Request for 14 days free trial from before purchase:

https://www.alliedmarketresearch.com/avenue/trial/starter

We have similar reports:

The solar energy market is expected to reach $ 223.3 billion by 2026 with a CAGR of 20.5% from 2019 to 2026.

The photovoltaic market is expected to reach $ 333,725.1 million by 2026 with a CAGR of 25.1% from 2019 to 2026.

The concentrated solar energy market is expected to be reached $ 8,046.7 million by 2026 with a CAGR of 10.3% from 2019 to 2026.

The photovoltaic solar glass market is expected to be reached $ 37.6 billion by 2026 with a CAGR of 30.3% from 2019 to 2026.

The solar tracker installation market is expected to be reached $ 379.2 billion by 2026 with a CAGR of 11.1% from 2019 to 2026.

The photovoltaic solar module (PV) market is expected to be reached $ 307,204 million by 2023 with a CAGR of 15.0% from 2017 to 2023.

The rooftop solar photovoltaic (PV) market is expected to be reached $ 64,671 million by 2023 with a CAGR of 11.2% from 2017 to 2023.

The solar water heater market is expected to reach $ 6.7 billion by 2027 with a CAGR of 6.1% from 2020 to 2027.

Pre-order now with a 10% discount:

Solar Energy In Gasoline Pumps Market: Global Opportunity Analysis and Industry Forecast, 2021-2028

Solar Tracker Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

Solar Module Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

Space Based Solar Power Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Smart Solar Power Market: Global Opportunity Analysis and Industry Forecast, 2021-2028

Solar Encapsulation Market: Global Opportunity Analysis and Industry Forecast, 2021-2028

Solar Cable Market: Global Opportunity Analysis and Industry Forecast, 2021-2028

About us:

Allied Market Research (AMR) is a full-service market research and management consulting division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unmatched quality of “market research reports” and “business intelligence solutions” to global corporations as well as medium and small businesses. AMR strives to provide business insights and advice to assist its clients with strategic business decisions and sustainable growth in their respective market domains. AMR offers its services in 11 industries including Life Sciences, Consumer Goods, Materials and Chemicals, Construction and Manufacturing, Food and Beverage, Energy and Energy, Semiconductors and Electronics, Automotive and Transportation, ICT and Media, Aerospace and Defense, and BFSI .

We have professional corporate relationships with various companies and this helps us unearth market data which will help us create accurate research data tables and confirm the highest accuracy of our market forecasts. All of the data contained in the reports we publish are extracted through primary interviews with top officials from leading companies in the domain in question. Our secondary data acquisition methodology includes extensive online and offline research and discussions with knowledgeable professionals and industry analysts.

Contact us:

David Correa
5933 NE Win Sivers Drive
# 205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
United Kingdom: + 44-845-528-1300
Hong Kong: + 852-301-84916
India ((Pune): + 91-20-66346060
Fax: + 1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter

SOURCE Allied Market Research