Global Solar Farm Market Major Players 2024, Forecast To 2033
8 Mar, 2024
The solar farm market has witnessed exponential growth, increasing from $96.75 billion in 2023 to $117.8 billion in 2024, achieving a 21.8% CAGR. This growth is attributed to government subsidies and declining solar panel costs. Predicted to reach $239.72 billion in 2028, with a 19.4% CAGR, factors such as energy storage solutions and government commitments to renewable energy targets will continue to drive expansion. Major trends include digitalization in operations and maintenance and the adoption of bifacial solar panels.
Global Solar Farm Market Key Driver
The solar farm market is experiencing growth driven by the surge in demand for electricity from renewable sources. Renewable energy, particularly solar power, is gaining prominence globally as a sustainable energy solution. Data from the International Energy Agency highlights a substantial increase in electricity production from solar PV systems, reflecting the growing adoption of solar energy. This surge in demand for renewable electricity is propelling growth in the solar farm market as nations prioritize clean energy transitions.
Get A Free Sample Of The Global Solar Farm Market ReportGlobal Solar Farm Market Segments
The solar farm market covered in this report is segmented –
1) Type:Surface Suction, Utility-scale, Distributed Generation, Microgrids, Other Types
2) Technology:Solar Photovoltaic, Mono-Si, Thin Film, Multi-Si, Other Technologies
3) End Use Industry:Residential, Commercial, Industrial
By Geography: The countries covered in the solar farm market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the solar farm market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the solar farm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Solar Farm Industry Players
Elevation Solar LLC.; NextEra Energy Inc.; Sharp Corporation; LONGi Green Energy Technology Co. Ltd.; JinkoSolar Holding Co. Ltd.; Trina Solar Co. Ltd.; Avangrid Inc.; JA Solar Technology Co Ltd; Canadian Solar Inc.; First Solar Inc.; SunPower Corporation; Sunrun Inc.; Cypress Creek Renewables LLC.; Momentum Solar LLC.; Blue Raven Solar; Sunnova Energy International Inc.; Shenzhen Topray Solar Co. Ltd.; BrightSource Energy Inc.; RenewSys India Pvt. Ltd.; Freedom Solar LLC.; Ecoplexus Inc.; Southern Current LLC.; Tata Power Solar System Inc.; The Solaria Corporation; ADT Solar; Hanwha Qcells GmbH; Recurrent Energy LLC.; Kuraray Europe Gmbh; Vikram Solar Ltd.; Solar Systems Ltd.
Get The Full Global Solar Farm Market Report
Solar Farm Market Overview
Solar farm refers to large-scale solar panels installation that harvests the sun's power using photovoltaic (PV) panels, also known as solar panels, or other techniques of collecting solar energy, such as concentrating solar systems.