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Sunday, February 20, 2022

Global Solar Electric System Market to be Driven by the Rising Focus on Green Energy Sources in the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘Global Solar Electric System Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global solar electric system market, assessing the market based on its segments like technology types, installation types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Forecast CAGR (2022-2027): 90%

The growing demand for clean energy sources due to the rising awareness regarding environmental degradation is propelling the market growth. The increasing greenhouse emissions from conventional sources of electricity is surging the demand for solar electric systems, hence driving the market growth. In addition, solar energy is a renewable form of energy that is rapidly gaining attention owing to depleting fossil reserves such as coal and petroleum. This, in turn, is augmenting the market growth of solar electric system.  The market growth can further be associated with the growing demand for electricity from the commercial, residential, and public sectors, which is further pushing the demand for sustainable means of energy.

Industry Definition and Segmentation

Solar electric systems refer to ground-mounted or rooftop setups that generate electricity by utilising solar energy. A typical solar electric system includes technologies like crystalline silicon and thin films.

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Based on technology type, the market can be divided into:

  • Crystalline Silicon
  • Thin Films

On the basis of installation type, the market can be classified into:

  • Ground Mounted
  • Rooftop

The market, based on application, can be segmented into:

  • Residential
  • Commercial
  • Industrial

The regional markets for the product include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The growth of the market can be associated with the introduction of various favourable government initiatives to boost the adoption of solar panels in several commercial residential, and public constructions. Governing agencies of many developed and developing countries are undertaking measures to promote the adoption of solar power, such as subsidies, low installation costs, and other benefits. Thus, the growing installation of solar electric systems in old and new constructions is propelling the growth of the market. Furthermore, owing to the rising awareness regarding the importance of clean energy, many new residential, commercial, and industrial constructions are increasingly adopting solar electric systems. Such systems offer cost-effectiveness and reliability, thereby further augmenting the market growth.

Key Market Players

The major players in the market are JinkoSolar Holding Co., Ltd, Canadian Solar Inc, S.A., LONGi Solar Technology Co, Ltd, SunPower Corporation, and Trina Solar Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Contact Person:-Ian Bell, Business Consultant
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**We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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