Solar Power Equipment Market Scope
Solar power equipment is a component of a solar energy system that helps to collect solar energy from the sun by reducing carbon emission and reducing or eliminating energy bills used in residential and commercial purpose. The most common solar power equipment components are solar panels, inverters, racking systems and batteries. In early 2019, United States crosses two million marks of solar system installations in just three years after the industry completed its one million installations.
The market study is being classified by Type (Solar Panels, Inverters, Solar Panel Racking, Solar Batteries and Performance monitoring), by Application (Residential, Commercial, Industrial and Utility) and major geographies with country level break-up.
Research Analyst at AMA predicts that Chinese Manufacturers will contribute to the maximum growth of Global Solar Power Equipment market throughout the predicted period.
JinkoSolar Holding Co., Ltd. (China), Tata Power Solar (India), SolarEdge Technologies Inc. (Israel), Canadian Solar Inc. (Canada), SunPower Corporation (United States), LONGi Solar Technology Co, Ltd (China), First Solar Inc. (United States), PWRstation SA (Switzerland), JA Solar (China), Shunfeng International Clean Energy Limited (China) and Hanwha Q Cells Co., Ltd. (South Korea) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Trina Solar Limited (China), REC Solar Holdings AS (Singapore), The Juwi Holding AG (Germany), Intech Clean Energy Pty Ltd. (Germany) and Gintech Energy Corporation (Taiwan).
AdvanceMarketAnalytics has segmented the market of Global Solar Power Equipment market by Type, Application and Region.
On the basis of geography, the market of Solar Power Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In September 2019, SolarEdge Technologies Inc., manufacturer of power optimizer, solar inverter and monitoring systems collaborate with Google LLC, a technology company provide in Internet-related services and products such as online advertising technologies, search engine, cloud computing, software and hardware to help electric vehicle consumers can control SolarEdge’s EV-charging solar inverter using the Google Assistant. SolarEdge is the first companies to combine EV charging with the Google Assistant.
In June 2019, SolarEdge Technologies Inc., manufacturer of power optimizer, solar inverter and monitoring systems launched single phase inverter with HD-Wave technology that integrates the management of solar, storage, and home energy into one inverter. These functions in one inverter help to simplify installation and increase self-consumption. and In January 2020, JLC Infrastructure an investor and asset management firm mainly in transportation, communications, energy, utilities and social infrastructure sectors acquired Greenskies Renewable Energy, a company providing solar financing and project implementation services to build a renewable independent power producer. It focuses the company on clean-energy solutions such as solar power, battery storage and emerging technologies.
- The Technology Advancement Such As Solar Thermal Fuels for Better Storage of Solar Powers Leads To the Growing Demand for Solar Power Equipment
- The Increasing Demand for Floating Solar Farms Leads to the Growth in Solar Power Equipment
- Raising Awareness for Using Green and Environment-Friendly Energy in Urban Areas Leads To the Growth in Solar Power Equipment
- The Demand of Solar Power Equipment in Solar Power Projects Is Rising
- The Use of Solar Power Equipment in Agricultural Sector to Dry Crops before Selling Is Growing
- The Rising of Government Initiatives to Use of Renewable Energy Sources Leads to the Growth in Solar Power Equipment
- Installation Costs Are High
- Lack of Skilled Labours to Operate the Solar Power Systems
- Availability of a Large Number of Manufacturers
- Lack of Efficiency of Solar Power Equipment’s During Winter and Rainy Days
Key Target AudienceSolar Power Equipment Manufacturers, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Government Regulatory and Research Organizations and End-Use Industry
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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