What is Solar Power Equipment Market Scope?
Solar power equipment is a component of a solar energy system that helps to collect solar energy from the sun by reducing carbon emission and reducing or eliminating energy bills used in residential and commercial purpose. The most common solar power equipment components are solar panels, inverters, racking systems and batteries. In early 2019, United States crosses two million marks of solar system installations in just three years after the industry completed its one million installations.
Influencing Trend:
The Technology Advancement Such As Solar Thermal Fuels for Better Storage of Solar Powers Leads To the Growing Demand for Solar Power Equipment and The Increasing Demand for Floating Solar Farms Leads to the Growth in Solar Power Equipment
Market Growth Drivers:
Raising Awareness for Using Green and Environment-Friendly Energy in Urban Areas Leads To the Growth in Solar Power Equipment, The Demand of Solar Power Equipment in Solar Power Projects Is Rising and The Use of Solar Power Equipment in Agricultural Sector to Dry Crops before Selling Is Growing
Challenges:
Availability of a Large Number of Manufacturers and Lack of Efficiency of Solar Power Equipment’s During Winter and Rainy Days
Restraints:
Installation Costs Are High and Lack of Skilled Labours to Operate the Solar Power Systems
Opportunities:
The Rising of Government Initiatives to Use of Renewable Energy Sources Leads to the Growth in Solar Power Equipment
The Solar Power Equipment market study is being classified by Type (Solar Panels, Inverters, Solar Panel Racking, Solar Batteries and Performance monitoring), by Application and major geographies with country level break-up.
Analysts at AMA predicts that Manufacturers from Chinese will contribute to the maximum growth of Global Solar Power Equipment market throughout the predicted period.
JinkoSolar Holding Co., Ltd. (China), Tata Power Solar (India), SolarEdge Technologies Inc. (Israel), Canadian Solar Inc. (Canada), SunPower Corporation (United States), LONGi Solar Technology Co, Ltd (China), First Solar Inc. (United States), PWRstation SA (Switzerland), JA Solar (China), Shunfeng International Clean Energy Limited (China) and Hanwha Q Cells Co., Ltd. (South Korea) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Trina Solar Limited (China), REC Solar Holdings AS (Singapore), The Juwi Holding AG (Germany), Intech Clean Energy Pty Ltd. (Germany) and Gintech Energy Corporation (Taiwan).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Solar Power Equipment market by Type, Application and Region.
On the basis of geography, the market of Solar Power Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In September 2019, SolarEdge Technologies Inc., manufacturer of power optimizer, solar inverter and monitoring systems collaborate with Google LLC, a technology company provide in Internet-related services and products such as online advertising technologies, search engine, cloud computing, software and hardware to help electric vehicle consumers can control SolarEdge’s EV-charging solar inverter using the Google Assistant. SolarEdge is the first companies to combine EV charging with the Google Assistant.
In June 2019, SolarEdge Technologies Inc., manufacturer of power optimizer, solar inverter and monitoring systems launched single phase inverter with HD-Wave technology that integrates the management of solar, storage, and home energy into one inverter. These functions in one inverter help to simplify installation and increase self-consumption. and In January 2020, JLC Infrastructure an investor and asset management firm mainly in transportation, communications, energy, utilities and social infrastructure sectors acquired Greenskies Renewable Energy, a company providing solar financing and project implementation services to build a renewable independent power producer. It focuses the company on clean-energy solutions such as solar power, battery storage and emerging technologies.
Key Target Audience
Solar Power Equipment Manufacturers, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Government Regulatory and Research Organizations and End-Use Industry
Solar Power Equipment Market Study: Important Years
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Solar Power Equipment Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Solar Power Equipment industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.