Global Solar Power Equipment Market Growth 2024-2030

Global Solar Power Equipment Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global Solar Power Equipment market size was valued at US$ 73480 million in 2023. With growing demand in downstream market, the Solar Power Equipment is forecast to a readjusted size of US$ 120740 million by 2030 with a CAGR of 7.4% during review period.

The research report highlights the growth potential of the global Solar Power Equipment market. Solar Power Equipment are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Solar Power Equipment. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Solar Power Equipment market.

Solar power systems are equipped with solar power equipment, which harness sun’s energy and convert it into electricity for further use by industrial, utility, commercial, or residential sectors.

It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.241 GW.

Key Features:

The report on Solar Power Equipment market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Solar Power Equipment market. It may include historical data, market segmentation by Type (e.g., Solar Panels, Mounting, Racking and Tracking System), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Solar Power Equipment market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Solar Power Equipment market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Solar Power Equipment industry. This include advancements in Solar Power Equipment technology, Solar Power Equipment new entrants, Solar Power Equipment new investment, and other innovations that are shaping the future of Solar Power Equipment.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Solar Power Equipment market. It includes factors influencing customer ' purchasing decisions, preferences for Solar Power Equipment product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Solar Power Equipment market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Solar Power Equipment market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Solar Power Equipment market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Solar Power Equipment industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Solar Power Equipment market.

Market Segmentation:

Solar Power Equipment market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
Solar Panels
Mounting, Racking and Tracking System
Storage System
Others

Segmentation by application
Residential
Nonresidential
Utility

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB Group
Canadian Solar
First Solar
Hanwha Q CELLS
JA Solar
JinkoSolar
LONGi Solar
Shunfeng International
SunPower Corporation
Trina Solar

Key Questions Addressed in this Report

What is the 10-year outlook for the global Solar Power Equipment market?

What factors are driving Solar Power Equipment market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Solar Power Equipment market opportunities vary by end market size?

How does Solar Power Equipment break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.