Global Solar Power Market Outlook, 2027

Global Solar Power Market Outlook, 2027

Solar power is the most abundant, inexhaustible and clean of all the renewable energy resources till date. Energy from sun can be considered the main source of all types of energies. Solar power is the most reliable and clean energy resources, and proves to be a viable alternative to fossil fuels that are currently responsible for polluting the environment and contributing to global warming. Solar power is generated through various technologies such as solar photovoltaic, concentrated solar power (CSP), solar thermal and concentrated photovoltaic.

Solar power has experienced phenomenal growth in recent years due to both technological improvements resulting in cost reductions and government policies supportive of renewable energy development and utilization. Solar photovoltaic system employs solar modules; consist of number of solar cells, which generate electrical power. Solar photovoltaic is the biggest Solar Power Market; followed by concentrated solar thermal (CSP). In recent years solar photovoltaic installation has experienced an impressive growth. Solar PV cumulative capacity is increased by more than 850 GW in 2021 globally. Correspondingly the cumulative capacity of concentrated solar power also registered average annual growth rate of more than 6%. In current scenario, the market for solar photovoltaic is bigger than CSP; thanks to huge investment, research and development, incentives and initiatives taken by the governments, and a number of projects in the pipeline. However, the market of CSP technologies is expected to grow at a faster rate in future.

According to the report title, “Global Solar Power Market Outlook, 2027”, the market is segregated into two technologies type i.e. solar photovoltaic and concentrated solar power. For solar power market many governments of different countries have set clean energy targets, and are trying to achieve them by switching over to renewable energies such as solar. Asia-Pacific region is dominating in the solar power marker as installation of solar photovoltaic is increased in countries like china, japan and India. Solar photovoltaic is becoming the lowest-cost option for electricity generation in most of the country, which is expected to propel investment in the upcoming years. However, the net zero emission by 2050 and many initiatives by different governments towards renewable energy is likely to drive the market of solar power and other renewable energies.

Major Companies present in the market:
Canadian Solar Inc., Trina Solar Co., Limited, Jinko Solar Holding Co., Limited, Longi Green Energy Technology Co., Limited, JA Solar Technology Co., Limited, Sunpower Corporation, First Solar Inc., Hanwha Corporation, Abengoa, S.A., Engie SA

Considered in this report
• Geography: Global
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global solar power market with its value and forecast along with its segments
• Region-wise solar power market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East & Africa

Types of Technology in the report:
• Solar Photovoltaic
• Concentrated Solar Power (CSP)

By Application in the report:
• Residential
• Commercial
• Industrial
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to solar power industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Keywords: Global, North America, South America, Europe, Middle East, Africa, Asia, Asia-Pacific, China, Japan, India, South Korea, Australia, USA, Canada, Mexico, UK, Italy, France, Germany, Spain, Sweden, Netherlands, Brazil, Chile, UAE, Israel, South Africa, Solar Photovoltaic, Concentrated Solar Panel, CSP, Solar Thermal, Monocrystalline, Polycrystalline, Thin Film, Residential, Commercial, Industrial

This report would help you answer the following questions:
1. Which technologies are used to generate solar power?
2. Which solar technology type is leading the market?
3. Which region is dominating in the solar power market?
4. Which country is dominating in the solar power market?

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