What is Airport Solar Panels Market?
Solar power is one of the best eco-friendly methods of energy generation globally and airports are getting aware of reducing the harmful emissions from the usage of electricity and fossil fuels by adopting eco-friendly technologies. The global airport solar panels market is expected to witness a slow-down in its growth during the forecast period, according to the AMA study. This is owing to the current aviation industry crisis due to the coronavirus pandemic across the world. The aviation industry is expected to witness reduction in revenue of approximately USD 63-113 billion in 2020. In addition, the rising production of commercial aircraft and rising global commercial aircraft fleet were expected to be the major drivers of this since during the past few years whereas the aircraft production and deliveries are expected to be delayed during the forecast period due to COVID-19 impact on the aviation industry which has led the industry into a crisis zone.
Highlights from Airport Solar Panels Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Ameresco (United States), Canadian Solar (Canada), Emera Inc. (United States), EMMVEE SOLAR (India), Indianapolis Power & Light Company (United States), Inman Solar (United States), REC Solar Holdings AS (Singapore), Robert Bosch GmbH (Germany), Solar Energy Corporation of India ltd (India), SOLAR FRONTIER K.K. (Japan), SunEdison (United States), Vikram Solar Limited (India) and Greebacker renewable energy company LLC (United States) |
The vendors in this market are majorly focusing on developing new and innovative products in order to remain competitive in the market place. The companies are also focusing on signing contracts with airport authorities and different governments for the installation and establishment of solar power plants inside the airport premises. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Airport Solar Panels market throughout the forecasted period.
Ameresco (United States), Canadian Solar (Canada), Emera Inc. (United States), EMMVEE SOLAR (India), Indianapolis Power & Light Company (United States), Inman Solar (United States), REC Solar Holdings AS (Singapore), Robert Bosch GmbH (Germany), Solar Energy Corporation of India ltd (India), SOLAR FRONTIER K.K. (Japan), SunEdison (United States), Vikram Solar Limited (India) and Greebacker renewable energy company LLC (United States) are some of the key players profiled in the study. Airport Solar Panels Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Civil Airports, Military/Government Airports and Private Airports |
Type | Monocrystalline, Polycrystalline, Thin Film Solar Panels and Heterojunction |
Installation | New Installation,Retrofitting |
Component | Cell,Glass,Frame,Junction Box,Cables,Others |
On the basis of geography, the market of Airport Solar Panels 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Concerns Regarding Reduction in Airports Electricity Costs and Increasing Adoption of Solar Vehicles in Airports for Saving Operational Cost and Environmental Savings from Emissions
Market Growth Drivers:
Increasing Demand for Renewable Energy Sources Due to Rise in Airport Electricity Tariff Prices and Growing Demand for Reducing Emissions From Electricity Usage in Airports
Challenges:
High Cost of Solar Panels
Restraints:
Lack of Safety Regulations for Airport Solar Panels and Negative Impact of COVID-19 Pandemic in the Aviation Industry Across the World
Opportunities:
Increasing Number of Airports will Create Huge Opportunities for Market Vendors and Rising Environmental Awareness Among Existing Airports
Key Target Audience
Solar Panel Manufacturers, Airport/ Energy Authorities, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations
Market Leaders & Development Strategies
In October 2021, Greebacker acquired Denver airport solar project. Greebacker renewable energy company LLC is sustainable infrastructure and energy efficiency project operator purchased two solar projects at DEN from Oak Leaf Energy Partners. This acquisition helped Greebacker to expand its presence in Airport Solar Panels market
In December 2019, Vikram Solar announced that it has commissioned solar power to three airports in India which include Dibrugarh (Assam) Airport, Gaya (Bihar) Airport, and Gondia (Maharashtra) Airport. Today Dibrugarh (Assam) Airport has a solar plant of 725 KW capacity, Gaya (Bihar) Airport has a solar power plant of 220 KW capacity, and Gondia airport has a solar power generation capacity of 220 KW respectively.
Stringent Regulations from Different Governments to Suspend the Scheduled Airline Flights for the Next Few Months to Avoid the Spread of COVID-19
Analyst Comment
The market for aircraft maintenance training is expected to grow at a sluggish pace as airlines or aviation industry is going through a huge economical crisis. As per the current situation, the industrial economic crisis has led the vendors to lose the market for sometime but the market is expected to witness slight increase in the growth of aviation maintenance training market globally.