About Solar Power Products
Solar Power Products observe the sun’s rays to produce electricity. Two types of solar energy, Photovoltaic, and Thermal. Photovoltaic technology directly converts sunlight into electricity. Solar thermal technology harnesses its heat. Increasing demand for energy and rising environment concern leads to the growth of the solar power products market. Increasing government initiatives for green energy owing to environmental concerns such as greenhouse gas emission boosting the demand for solar power products. The government provides incentives and subsidies for solar power products such as solar pumps and solar lanterns helping to boost this market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 28.82% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that India Manufacturers will contribute the maximum growth to Global Solar Power Products market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
JinkoSolar (China), Canadian Solar (Canadian), Tata Power Solar Systems (India), Trina Solar (China), SunPower Corp (United States), Hanwha Q Cells (Germany), Vikram Solar (India), Fourth Partner Energy (India) and Vorks Energy (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Scorpius Trackers (India) and Topsun Energy (India).
Segmentation Overview
AMA Research has segmented the market of Global Solar Power Products market by Type (Solar Rooftop PV, Solar Pumps, Solar Lantern and Others), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Solar Power Products 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). If we see Market by Distribution channel, the sub-segment i.e. Online will boost the Solar Power Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Government Incentives and Subsidies for Solar Power Products
Market Growth Drivers:
Rising Environment Concern leads to Adoption of Solar Energy across the World, Continuously Increasing the Prices of Energy and High Utilization of Energy across the Globe
Challenges:
High Cost of Products
Restraints:
Climatic Conditions and Geographical Latitudes and Fluctuating Price of Raw Material
Opportunities:
Rising Development of Solar Power Generation Projects and Development of Power Transmission and Distribution Network
Market Leaders and their expansionary development strategies
In September 2023, JA Solar releases its DeepBlue 4.0 series of n-type monocrystalline silicon solar panels, boasting higher efficiency and lower temperature coefficients.
Key Target Audience
Solar Power Products Manufacturers, Solar Power Products Suppliers and Distributors, Potential Investors, Government Associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.