About Solar Energy-
Solar energy is an inexhaustible renewable energy source derived from the sun's electromagnetic radiation. Solar energy is the world’s cleanest and most abundant renewable energy source. Solar energy can be harnessed for a variety of purposes, including generating electricity, providing light or a comfortable interior environment, and heating water for domestic, commercial, or industrial use. Solar energy is generated in a variety of ways, including concentrated PV, solar PV, concentrated solar thermal power (CSP), and solar thermal. It is gaining popularity around the world due to factors such as low operating and maintenance costs and a clean energy source. The insatiable demand for electricity has paved the way for a surge in government initiatives to promote renewable energy sources. The rising advancements in the architectural sector have led to an increase in the number of rooftop installations.
Attributes | Details |
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Study Period | 2019-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for Solar Energy is increasing. The industry is segmented, but it is predicted to grow as rise in depletion of fossil fuels and increasing demand for electricity, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position. 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.
Solar World (Germany), Canadian Solar (Canada), ENN Solar (China), REC Silicon (Norway), Helios Technology (United States), Abengoa (Spain), Tata Power (India), Kaneka Corporation (Japan), Acciona Energia (Spain), Abengoa Solar (Spain), BrightSource Energy (United States) and Adani Group (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 Neo Solar Power (Taiwan), Centrosolar Inc. (Germany) and Esolar (United States).
Segmentation Overview
AMA Research has segmented the market of Portugal Solar Energy- market by Type (Solar Photovoltaic (PV) Panels, Solar Inverters, Energy Storage Systems (Batteries), Solar Power Generators and Others), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Solar Energy- has been segmented into
. If we see Market by Solar Module, the sub-segment i.e. Monocrystalline Silicon Cells will boost the Solar Energy- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Solar Photovoltaic Technology. will boost the Solar Energy- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Development of Photovoltaic-Based Power Distribution Systems and Growing Adoption of Energy Blockchain in Technology Solutions for Solar Energy
Market Growth Drivers:
Rise in Depletion of Fossil Fuel Resources, Increasing Implementation of Solar Storage Grids and Rise in Demand for PV Installations
Challenges:
Lack of Financial Infrastructure in Developing Economies and Lack of Awareness Regarding the Benefits of Renewable Energy
Restraints:
High Manufacturing and Maintenance Costs
Opportunities:
Growing Green Gas Emission and Environment Concerns and Increasing Government Initiatives to Support Renewable Energy Sources
Market Leaders and their expansionary development strategies
On October 2020, Adani Green Energy Limited (AGEL) has completed the acquisition of 205 MW operating solar assets from Essel Green Energy Private Limited (EGEPL) and Essel Infra projects Limited (EIL). The acquisition of 205 MW solar portfolio expands our footprint in states.
In May 2021 Canadian Solar had announced strategic partnership with Habitat Energy. The collaboration will enable Canadian Solar to provide enhanced technology solutions to developers and owners of battery storage assets in order to capture additional revenue from trading optimization, while also improving grid stability and contributing to the global energy transition to a cleaner, smarter, and more efficient power grid.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Research Organization, End-use industries 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.