Solar Energy Panel Market Size, Share, Growth Report 2030

Solar Energy Panel Market

Solar Energy Panel Market - By Technology (Thin Films and Crystalline Silicon), By Application (Residential and Commercial) And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Category: Energy & Mining Report Format : PDF Pages: 160 Report Code: ZMR-6220 Published Date: May-2021 Status : Published

The global Solar Energy Panel Market Size Was Worth 114.1 (USD Billion) in 2019 and Is Expected To Reach USD 121.3 Billion by 2026,CAGR of 4.7%.

Solar Energy Panel Market: Introduction

The global Solar Energy Panel market Size accrued earnings worth approximately 114.1 (USD Billion) in 2019 and is predicted to gain revenue of about 121.3 (USD Billion) by 2026, is set to record a CAGR of nearly 4.7% over the period from 2020 to 2026. The report offers an assessment and analysis of the Solar Energy Panel market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

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Solar Energy Panel Market: Overview

A solar energy panel is a type of PV cell arranged in an installation framework. These panels make use of the rays of the sun as an energy source and produce direct current power. Furthermore, solar energy panels make use of solar PV, concentrated solar power, solar thermal, and concentrated PV for producing solar energy. Moreover, solar energy panels are designed for reducing fossil fuel consumption to minimize both fossil fuel depletion and prevent carbon emissions caused due to fossil fuel emissions in the atmosphere. Additionally, the sun generates a large amount of energy as compared to fossil fuels and this energy is stored in PV cells arranged in solar panels for generating electricity that can be supplied to the rapidly increasing population through the solar power grid.

Solar Energy Panel Market: Growth Drivers

The surge in solar energy panel use in residential rooftops will help in generating new growth avenues for the solar energy panel industry over the assessment timeline. Escalating the utility of renewable energy along with government subsidies promoting the use of solar energy and massive deployment of solar energy panels for reducing environmental pollution will contribute sizably towards overall market size in the years ahead. With commercial and residential sectors being major consumers of solar energy and green energy being the popular trends in these sectors, the market for solar energy panels is likely to expound tremendous growth over 2020-2026.

Furthermore, the need for incessant power supply with a rising population base across the globe will exponential the evolution of the solar energy panel industry over the assessment timespan. The continuous focus of the government on resolving problems of energy supply supported by a surge in the funding of green energy projects will result in large-scale expansion of the solar energy panel business in the coming years. In addition to this, the rise in green energy building constructions across the globe will drive market trends.

Solar Energy Panel Market Report Scope:

Report Attributes Report Details
Report Name Solar Energy Panel Market Research Report
Market Size in 2019 USD 114.1 Billion
Market Forecast in 2026 USD 21.3 Billion
Compound Annual Growth Rate CAGR of 4.7%
Number of Pages 160
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered JinkoSolar, Hanwha Q-CELLS, Canadian Solar, SunPower Corporation, Shenzhen Yingli New Energy Resources Co., Ltd., GCL-SI, Trina Solar, LONGi Solar, ReneSola, First Solar, Risen Energy, Talesun, and JA Solar.
Segments Covered By Application, By Technology, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2021
Historical Year 2016 to 2020
Forecast Year 2022 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

 

Regional Landscape

North American Market To Garner Huge Revenues Over 2020-2026

The regional market growth over the assessment period is due to a prominent rise in solar energy panel deployments in the countries like Canada and the U.S. In addition to this, growing inclination towards utilizing renewable energy among the people of the subcontinent has encouraged the use of solar energy panels. This factor has helped in carving & shaping the perfect growth for the solar energy panel industry in recent years. Apart from this, a rise in the penetration of the products in the developed countries of the subcontinent will further push the regional market value.

Competitive Landscape

Key industry participants provided in the report are 

  • Hanwha Q-CELLS
  • Canadian Solar
  • SunPower Corporation
  • Shenzhen Yingli New Energy Resources Co., Ltd.
  • GCL-SI
  • Trina Solar
  • LONGi Solar
  • ReneSola
  • First Solar
  • Risen Energy
  • Talesun
  • JA Solar.

The global Solar Energy Panel Market is segmented as follows:

By Application

  • Residential
  • Commercial

By Technology

  • Thin Films
  • Crystalline Silicon

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Surge in the solar energy panel use in residential rooftops will help in generating new growth avenues for solar energy panel industry over the assessment timeline. Escalating utility of renewable energy along with government subsidies promoting use of solar energy and massive deployment of solar energy panels for reducing environmental pollution will contribute sizably towards overall market size in the years ahead. With commercial and residential sectors being major consumers of solar energy and green energy being the popular trends in these sectors, the market for solar energy panel is likely to expound tremendous growth over 2020-2026. Furthermore, need for incessant power supply with rising population base across the globe will exponentiate the evolution of solar energy panel industry over the assessment timespan. Continuous focus of government on resolving problems of energy supply supported by surge in the funding of green energy projects will result in large-scale expansion of solar energy panel business in the coming years.

According to Zion market research report, the global Solar Energy Panel market accrued earnings worth approximately 114.1 (USD Billion) in 2019 and is predicted to gain revenue of about 121.3 (USD Billion) by 2026, is set to record a CAGR of nearly 4.7% over the period from 2020 to 2026.

North America will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is owing to to prominent rise in solar energy panel deployments in the countries like Canada and the U.S. In addition to this, growing inclination towards utilizing renewable energy among the people of the sub-continent has encouraged the use of solar energy panels. This factor has helped in carving & shaping the perfect growth for solar energy panel industry in the recent years. Apart from this, rise in the penetration of the products in the developed countries of the sub-continent will further push the regional market value.

The key market participants include JinkoSolar, Hanwha Q-CELLS, Canadian Solar, SunPower Corporation, Shenzhen Yingli New Energy Resources Co., Ltd., GCL-SI, Trina Solar, LONGi Solar, ReneSola, First Solar, Risen Energy, Talesun, and JA Solar.

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