Solar Power Market to Reach 4766.82 GW by 2026; Increasing Government Investment in Solar Energy Generation to Boost the Market, says Fortune Business Insights
PUNE, India, July 3, 2019 /PRNewswire/ -- The global Solar Power Market will derive growth from the increasing awareness regarding conservation of conventional energy sources and reducing environmental pollution. According to a report published by Fortune Business Insights, titled "Solar Power Market: Global Market Analysis, Insights and Forecast, 2019-2026," the market estimated to be at 680.22 GW in 2019. Fortune Business Insights has predicted that the market will reach 4766.82 GW by 2026, thereby exhibiting a CAGR of 30.7%.
The advancements in photovoltaic technology in recent years have boded well for the global Solar Power Market. Growing awareness of the adverse effects of pollution and minimizing greenhouse gases have contributed to the demand for solar power across the world. Furthermore, increasing efforts towards ensuring optimum solar energy consumption will aid the growth of the global Solar Power Market in the forthcoming years. The increasing investment in the development of solar power and related energy generation devices from private as well as government organizations has contributed to the growth of the global market.
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New Devices That Can Harness Solar Energy at Night Will Enable Market Growth
The awareness towards climate change and several initiatives taken to minimize the consumption of non-renewable energy sources have created the need for efficient solar energy harnessing devices. As a result of climate change, governments across the world have made active participation in the form of investment as well as subsidies. As a result of the outcry for environmental preservations, companies have capitalized by introducing newer products and concepts that will aid in harnessing solar energy efficiently. Recently, scientists have introduced a new concept for the operation of solar panels, wherein the device will be able to generate electricity from the energy at night. Fortune Business Insights has identified this as a breakthrough concept and it has predicted that such innovations will aid the growth of the global Solar Power Market in the forthcoming years.
Oxford PV Bags $ 3 Mn Investments; Company's Upcoming Product Will Help Market Gain Momentum
The global Solar Power Market has benefited from the increasing investment by government organizations towards research and development of innovative solar panels. In 2018, Oxford PV received a $ 3Mn investment from the UK government for the development of its new technology that is indicated to boost the adoption of renewable energy production. Oxford PV is working in tandem with the Oxford University to polish this concept. The commercialization of Oxford's latest technology is likely to aid the growth of the global Solar Power Market. The report encompasses several new concepts similar to Oxford PV's latest technology and gauges the impact of the technologies on the global market.
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Besides product launches and innovations, the report provides qualitative and quantitative insights on the solar power industry and detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented by technology and applications on global as well as regional level.
Along with this, the report provides elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of coagulation factor deficiency, recent industry developments such as mergers & acquisitions, and key industry trends.
Key companies covered in the report
-- Abengoa Solar S.A.
-- Acciona Energia S.A.
-- Wuxi Suntech Power Co. Ltd.
-- Bright source Energy Inc.
-- Esolar Inc.
-- Gintech Energy Corp.
-- Kaneka Corp.
-- Sunpower Corporation
-- Canadian Solar Inc.
-- Tata Power SolarSpeak to Analyst
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ower-market-100764
Table of Content:
-- Market Dynamics
-- Drivers, Restraints and Opportunities
-- Emerging Trends of Market
-- Key Insights
-- Macro and Micro Economic Factors
-- Key Technological Developments
-- Industry SWOT Analysis
-- Global Solar Power Market Analysis, Insights and Forecast, 2015-2026
-- Key Findings / Summary
-- Market Sizing Estimations and Forecasts - By Technology (US$ Mn and
GW)
-- Mono-si
-- Thin film
-- Multi-si
-- Others
-- Market Sizing Estimations and Forecasts - By Application (US$ Mn and
GW)
-- Residential
-- Non-Residential
-- Utilities
-- Market Analysis, Insights and Forecast - By Geography (US$ Mn and
GW)
-- North America
-- Europe
-- Asia Pacific
-- Middle East and Africa
-- Latin America
-- Competition Matrix
-- Company Profile
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