Solar Power Market Forecast to Surpass USD 373 Billion by 2030 with Robust CAGR, New Research Reveals

Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Solar Power Market by Technology {Solar Photovoltaic and Concentrated Solar Power, By Application, Regional Outlook - Global Forecast up to 2030" report has been added to's offering.

The latest research sheds light on the significant trajectory of the solar power industry. The market, with an estimated value of USD 167.83 billion in 2021, is poised for notable growth, progressing at a Compound Annual Growth Rate (CAGR) of 14.0% to potentially reach the landmark figure of USD 373.84 billion by the year 2030.

Despite the challenges posed by the global COVID-19 pandemic, the solar power sector has experienced a surge in demand, seeing a compounding annual growth of 17.1% in 2020 when juxtaposed with the year prior.

Key Insights:

  • The evaluation of technology trends indicates a significant split between solar photovoltaic systems and concentrated solar power – each contributing to the market's expansion.
  • Insightful data on regional market variations furnish stakeholders with essential information for strategic decision-making.
  • Detailed application-based analysis of the market forecasts future trends, shaping the landscape of renewable energy investments.

Report Synopsis:

  • Comprehensive assessment of market drivers reveals the dynamics steering the solar power market.
  • Precise predictions based on current and historical data arm industry players with actionable insights.
  • Strategic profiling of major market participants uncovers the competitive edge in the solar power landscape.

The solar power market constitutes a key component of the broader renewable energy sector, with evolving applications and deployment strategies continually surfacing in the wake of technological innovations.

As the global economy braces for an era of renewable transformation, this latest analysis will serve as a benchmark for stakeholders to navigate the flourishing landscape of solar energy, positioning businesses for strategic growth and robust participation in the flourishing solar power market.

Companies Profiled

  • JA Solar Holdings Co. Ltd
  • Canadian Solar
  • First Solar, Inc
  • SunPower Corporation
  • SolarEdge Technologies
  • Hanwha Q Cells Co., Ltd
  • Enphase Energy, Inc
  • JinkoSolar Holding Co., Ltd
  • Yingli Green Energy Holding Company Limited
  • Trina solar

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