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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Solar Power Market Analysis
Based on technology, the market can be bifurcated into solar photovoltaic and concentrated solar power. Solar photovoltaic is further divided by type into mono-Si, thin film, and multi-Si, among others. Concentrated solar power is further classified by type into parabolic trough, power tower, and linear Fresnel. On the basis of application, the solar power market is segmented into residential, non-residential, and utility. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global solar power market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Waaree Energies Ltd.
- BrightSource Energy, Inc.
- SunPower Corporation
- Enkay Solar Power and Infrastructure Pvt. Ltd.
- Tata Power Solar Systems Limited
- Others
Solar Power Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global market size for solar power reached a value of USD 232.48 billion in 2023.
The market is expected to grow at a CAGR of 7.1% between 2024 and 2032.
The global market size for solar power is expected to reach a value of USD 431.02 billion by 2032.
The major market drivers are growing demands for renewable energy sources, improvements in solar power technology, population growth, and usage of solar power in mainstream utility applications.
The key trends of the market are increasing demand for electricity owing to economic development, growing investments in solar power infrastructure, and supportive initiatives by various governments.
Key players in the global solar power market include Waaree Energies Ltd., BrightSource Energy, Inc., SunPower Corporation, Enkay Solar Power and Infrastructure Pvt. Ltd., and Tata Power Solar Systems Limited, among others.
Solar power is a form of energy obtained from sun by converting the solar energy into power using direct or indirect methods.
The primary technologies for solar power in the market are solar photovoltaic and concentrated solar power.
The different types of solar photovoltaic technology are mono-Si, thin film, and multi-Si, among others.
The various applications of solar power include residential, non-residential, and utility.
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