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Global Solar Farm Market Analysis by Type, End-User industry, Region and segments forecast till 2033
Market Overview
The Global Solar Farm Market is presently worth USD 88,400 million and is poised to amplify at a CAGR of 19.8% over 2023-2033, thereby amassing a valuation of USD 449,300 million by end of the assessment timeline.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 88,400 Million |
Market Forecast in 2033 | USD 449,300 Million |
CAGR % 2023-2033 | 19.8% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product type, end-user industry, company share, company heatmap, company Material Technology type capacity, growth factors and more |
Segments Covered | Type, End-User industry |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Trina Solar, First Solar, Inc., TATA Power, Sharp Corporation, BrightSource Energy, Inc., Solar Systems Ltd., Shenzhen Topray Solar Co., Ltd., and JA Solar Holdings Co. Ltd. |
Global Solar Farm Market: Description
Solar farms are larger-scale energy production facilities powered by solar cells. The adoption of renewable electricity generating techniques and a focus on carbon emission reduction are driving the market expansion of the solar farm. Solar farms are locations with plenty of solar panels set up to gather solar energy and produce power. These are distinct from rooftop solar systems and commercial solar power systems and are made up of widely dispersed, ground-mounted panels that are deployed to supply electricity to buildings, commercial buildings, and electric grids.
Because PV panels are inexpensive and there are many manufacturers of solar water farms, the market for such farms has been growing quickly. Additionally, consumer awareness of solar water farming is rising as a result of government policies that encourage the generation of energy from renewable sources in order to lessen reliance on fossil fuels and to reduce pollution emissions.
In nations like the United States, Spain, and France, consumers can use photovoltaic energy for their personal electrical needs and sell the excess solar energy they do not use. In comparison to other nations, the Chinese solar photovoltaic industry has experienced substantial expansion throughout the years.
The government has put into place some laws like net metering and commMWy solar to encourage the use of photovoltaic technology to produce electricity, according to the U.S. Solar Energy Industries Association. In nations like the United States, Spain, and France, consumers can use photovoltaic energy for their personal electrical needs and sell the excess solar energy they do not use. Compared to any other nation, China's solar photovoltaic industry has experienced remarkable expansion.
The China Solar Industry Association reports that in 2018, China's photovoltaic energy capacity increased by 34% year over year. Compared to 136 gigawatts in 2017, the total installed PV capacity topped 170 gigawatts at the end of 2018. The adoption of photovoltaic technology is encouraged by these regulations. Therefore, these laws are anticipated to have a favorable effect on the market for solar farms. In addition, with the rising usage of photovoltaic technology, the need for solar farms is anticipated to increase dramatically.
Global Solar Farm Market- Segmental Analysis:
Type Insights
The utility segment holds the largest market share and is projected to grow more in the upcoming years. In 2021, the utility-scale market segment held the largest market share (45%) in the market for solar farms worldwide. Utility-scale solar farms are large-scale photovoltaic arrays that cover many acres of land and can provide up to 1 GW of electricity.
End-User industry Insights
Due to their extensive need for green energy, businesses are among the main consumers of solar PV panels. The demand for solar farms to use alternative sources to satisfy their large-scale energy needs is surging due to the quickly rising construction activities and the rising electricity consumption by established commercial firms.
Regional Insights
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share, primarily because different nations in the Asia-Pacific are placing an increasing emphasis on lowering GHG (Green House Gas) emissions and promoting sustainable development in the region.
Competitive Analysis
The prominent companies defining the competitive terrain of this marketplace are Trina Solar, First Solar, Inc., TATA Power, Sharp Corporation, BrightSource Energy, Inc., Solar Systems Ltd., Shenzhen Topray Solar Co., Ltd., and JA Solar Holdings Co. Ltd.
Global Solar Farm Market- Segmental Analysis
By Type
Surface suction
Utility scale
Distributed generation
Microgrids
Others
By End-User industry
Residential
Commercial
Industrial
Others
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Solar Farm Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both Technology and consumption point of view at the regional and country level. Key Factors considered within the report scope are Technology type capacity by countries/regions, average End Use, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Solar Farm Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Technology, Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Technology Vehicle type in taking a key decision within the business:
Company Share Analysis from 2020-2022
Company Analysis by Revenue and Sales
Company Technology type Capacity, Gross Margin
Company Share Analysis by Technology type/ Technology Vehicle type
Company Share Analysis by Technology type/Specification
