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Solar Power Equipment Market Worth $188,304.0 Million by 2025

Solar Power Equipment Market Worth $188,304.0 Million by 2025 1

COVID-19 Pandemic disrupted the entire world and affected many industries. Get detailed COVID-19 impact analysis on the Solar Power Equipment Market

PORTLAND, OR, UNITED STATES, August 22, 2021 /EINPresswire.com/ — Solar power systems are equipped with solar power equipment, which harness sun’s energy and convert it into electricity for further use by industrial, utility, commercial, or residential sectors. Various types of solar power equipment available in the market include solar panels, solar batteries, solar mounting & racking system, solar trackers, and solar inverters.

The global solar power equipment market size was $76,270.6 million in 2017, and is projected to reach $188,304.0 million in 2025, growing at a CAGR of 12.5%.

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Suns energy can be harnessed by using solar power equipment such as photovoltaic (PV) cells, solar trackers, solar inverters, and others. These equipment serve as an eco-friendly solution, as they aid in curbing carbon emission and combat climate changes. The growth of the global solar power equipment market is driven by rise in construction projects and surge in demand for electricity across of the world.

Key Benefits

The study provides an in-depth analysis of the global solar power equipment market along with the current trends and future estimations to elucidate the imminent investment pockets.

Information about the key drivers, restraints, and opportunities and their impact analyses on the market is included in the study.

Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.

The quantitative analysis of the global solar power equipment market from 2017 to 2025 is provided to determine the market potential.

Top 10 Leading Players

ABB Group
Canadian Solar
First Solar Inc.
Hanwha Q CELLS
JA Solar
JinkoSolar
LONGi Solar
Shunfeng International
SunPower Corporation
Trina Solar

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Key Market Segments

By Equipment

Solar Panels
Mounting, Racking, & Tracking System
Storage System
Others

By Application

Residential
Nonresidential
Utility

By Region

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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Solar Power Equipment Market Worth $188,304.0 Million by 2025 2