Solar Energy Market to Gain Impetus from Increasing Demand from Manufacturing Industries Worldwide for Efficient Energy Flow: Fortune Business Insights™ Predicts

Key Companies Covered in Solar Energy Market Research Report are Canadian Solar, Inc., Kaneka Corp., Esolar Inc., Wuxi Suntech Power Co. Ltd., Abengoa Solar S.A., Tata Power Solar, Bright source Energy Inc., Acciona Energia S.A.


Pune, Jan. 24, 2020 (GLOBE NEWSWIRE) -- The global Solar Power Market is anticipated to reach 4766.82 GW by 2026, exhibiting a CAGR of 30.7% during the forecast period 2019-2026 on account of the increasing demand for renewable energy generation for serving various residential, commercial, and industrial purposes. Manufacturing industries, especially from the developing nations, are demanding solar panels and heavily investing in them for cost-efficient production purposes. The advent of new technologies such as photovoltaic (PV) technology, commonly known as thin-film technology and green technology into solar power systems, has spurred industries and manufacturing units to opt for solar power plants, thereby driving the Solar Energy Market trends.

Fortune Business Insights™ illustrates the aforementioned information in their recently published report titled, “Solar Energy Market Size, Share and Industry Analysis By Technology (Solar Photovoltaic (Mono-si, Thin Film, Multi-si, and Others) and Concentrated Solar Power (Parabolic Trough, Power Tower, and Linear Fresnel)), By Application (Residential, Non-Residential and Utilities), and Regional Forecast, 2019-2026.” The report states that the market value was in 680.22 GW in 2019. Besides this, the report also throws light on:

  • 360-Degree overview of the market
  • Detailed analysis of growth drivers, restraints, and challenges having an impact on the market
  • Interesting insights and key industry developments of the market
  • Current and future Solar Energy Market trends
  • Detailed segmentation of the market
  • List of significant players, key strategies adopted by them and overall competitive landscape of the market

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Introduction and Implementation of Green Technologies to Drive Market

The advent of thin-film and green technologies in the solar power sector is an important factor promoting the Solar Energy Market growth. In addition, there is a surge in investments into solar power from manufacturing companies to cut down the price of electricity for smooth and efficient energy flow to serve various commercial and industrial purposes. This is also expected to increase the overall Solar Energy Market size in the forecast period.

Furthermore, the introduction of efficient and environment-friendly techniques by government and propulsion towards the adoption of green label products is prognosticated to create lucrative Solar Energy Market growth opportunities in the forthcoming years.

Europe Market to Invest Generously on Solar Projects, Drawing Significant Revenues in Coming Years

From a geographical perspective, Asia Pacific is holding a significant Solar Energy Market share on account of supportive government policies related to renewable energy and a rise in awareness about innovative green technologies. To cite an example, new environment-friendly techniques will be led by the solar panel manufacturers as per the subsidy-free renewable policy imposed in China.  Additionally, on account of its excellent PV research and development infrastructure, along with the supply and manufacturing of solar PV panels, Europe generated a substantial Solar Energy Market revenue. A lead analyst at Fortune Business Insights™ predicts Europe to invest as an estimate of about 185.11 GW of a solar project in the year 2019.

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Companies Engaging in Merger and Acquisition Strategies for Better Revenue Generation

Various Solar Energy Market manufacturers are entering into strategic collaborations such as merger and acquisitions, joint ventures, partnership agreements, and contracts to stay put in the competition. Large company manufacturers are also investing in research and development activities for introducing solar power into automobiles. Such innovations are not only intensifying the market competition but also attracting huge Solar Energy Market revenue.

Some of the major industry developments of the Solar Energy Market include:

July 2019 – The state-owned NTPC awarded an EPC contract to BHEL for setting up a 25MW floating solar photovoltaic power plant at the Simhadri water reserve in Andhra Pradesh, India.

July 2019 – A Japanese automotive manufacturer, namely Toyota Motor Corp, started its trial phase for the new version of Prius hybrid car. This car will be embedded with 860 watts of the thin-film solar cell.

July 2019 – A partnership was signed between NTT Com-Netmagic and Tata power for providing IT solutions for their forthcoming 50MW solar photovoltaic power plant project situated in Maharashtra, India.

List of Significant players operating in the Solar Energy Market
manufacturers include:

  • Canadian Solar, Inc.
  • Kaneka Corp.
  • Esolar Inc.
  • Wuxi Suntech Power Co. Ltd.
  • Abengoa Solar S.A.
  • Tata Power Solar
  • Bright source Energy Inc.
  • Acciona Energia S.A.

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Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends of Market
  • Key Insights
    • Macro and Micro Economic Factors
    • Key Technological Developments
    • Industry SWOT Analysis
  • Global Solar Power Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Sizing Estimations and Forecasts – By Technology (US$ Mn and GW)
      • Mono-si
      • Thin film
      • Multi-si
      • Others
    • Market Sizing Estimations and Forecasts – By Application (US$ Mn and GW)
      • Residential
      • Non-Residential
      • Utilities
    • Market Analysis, Insights and Forecast – By Geography (US$ Mn and GW)
      • North America
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • Latin America
  • Competition Matrix
  • Company Profile


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