PORTLAND, Oregon, September 21, 2018 /PRNewswire/ --
Upsurge in construction activities, increase in demand for electricity worldwide, and enactment of government policies for sustainable renewable energy, globally, would drive the growth of the global solar power equipment market
Allied Market Research published a report, titled, "Solar Power Equipment Market by Equipment (Solar Panels, Mounting, Racking, & Tracking System, Storage System, and Others) and Application (Residential, Nonresidential, and Utility): Global Opportunity Analysis and Industry Forecast, 2018-2025." The report offers insights on major market segments, top investment pockets, key player positioning, drivers & opportunities, and strategic developments in the industry. According to the report, the global solar power equipment market garnered $76.27 billion in 2017 and is projected to reach $188.3 billion through 2025, growing at a CAGR of 12.5% from 2018 to 2025.
Surge in demand for electricity globally, implementation of government policies to deploy solar power systems, and widespread installation of solar panels in homes to reduce carbon footprint and minimize electricity costs drive the growth of the solar power equipment market. However, high cost of deploying such systems and dependence on sunlight availability & direct normal irradiance (DNI) are expected to hinder the market growth. In addition, growing awareness on use of green, eco-friendly energy and innovative technological advancements in the sector are expected to provide lucrative opportunities for the growth of the global solar power equipment market.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4271
Solar panels to maintain revenue lead through 2025
Solar panels segment captured 60% of the total market share in 2017 and would retain its dominance through the forecast period. However, the mounting, racking, & tracking segment would grow at the fastest CAGR of 13.6% from 2018 to 2025. The report also provides deep dive analysis of storage systems.
Utility application segment to remain dominant through 2025
The utility segment accounted for more than half of the total market revenue in 2017 and is expected to maintain its lead position through 2025. However, the residential segment is expected to grow at the fastest CAGR of 13.3% during the forecast period. The commercial application segment is expected to grow at a steady rate during the forecast period.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4271
Asia-Pacific to lead in terms of revenue, North America to grow the fastest
Asia-Pacific accounted for nearly half of the total market in 2017 and would remain lead contributor to global solar equipment market revenue through 2025. However, North America would grow at the fastest CAGR of 13.1% during the forecast period. The other regions analyzed in the report include Europe and Latin America, Middle East & Africa (LAMEA).
Leaders of the industry
The key market players analyzed in the research include ABB Group, Canadian Solar, First Solar Inc., Hanwha Q CELLS, JA Solar, JinkoSolar, LONGi Solar, Shunfeng International, SunPower Corporation, and Trina Solar.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
SOURCE Allied Market Research