How big is the Global Solar Farm market?
According to MarkNtel Advisors study, The Global Solar Farm Market size is projected to grow at a CAGR of around 18.50% during the forecast period, i.e., 2023-28.
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Growth Opportunity: Favourable Government Regulations and the Ever-increasing Demand across Emerging Nations
Governments of several countries are laying out favorable regulations for promoting renewable energy production in order to reduce their dependency on fossil fuels while reducing the alarming levels of carbon emissions worldwide. Various policies, including net metering and community solar, have been implemented by governments to encourage the use of PV(Photovoltaic) technology for power generation.
In addition, being inspired by Asia-Pacific countries like India, China, & Japan, many developing nations across the Middle East & Africa are also actively working on clean energy production and thus creating new avenues for the key companies operating in the Global Solar Farm Market to expand their presence and generate significant profits in the years to come.
Leading Companies in the Global Solar Farm market:
- Brightsource Energy, Inc
- First Solar, Inc.
- Himin Solar Energy Group
- Ja Solar Holdings Co. Ltd.
- Sharp Corporation
- Shenzhen Topray Solar Co., Ltd.
- Tata Power Solar Systems Ltd.
- Trina Solar
- Wuxi Suntech Power Co., Ltd.
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Global Solar Farm Market Segmentation:
By Type
- Utility-Scale
- Distributed Generation
- Micro-Grids
- Others
Of them all, Utility-Scale Solar Farms significantly contributed to the market growth in recent years and are anticipated to lead the market during 2022-27.
By End Users
- Residential
- Commercial
- Industrial
Regional/ Countries Insight:
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Of all regions globally, Asia-Pacific has been ruling the Solar Farm Market with the largest share and the same trend is likely over the coming years.
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