Solar Energy Market Size to Grow $223.3 Billion, Globally, by 2026 at 20.5% CAGR, Says Allied Market Research

PORTLAND, Oregon, Nov. 15, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Solar Energy Market by Technology (Photovoltaic Systems and Concentrated Solar Power Systems), by Solar Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, and Others), By Application (Residential, Commercial and Industrial) and End-Use (Electricity Generation, Heating, Charging and Lighting): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global solar energy industry was pegged at $52.5 billion in 2018 and is projected to garner $223.3 billion by 2026, registering a CAGR of 20.5% from 2019 to 2026.

Chief reasons for market fluctuations

Rise in demand for alternate energy sources and government incentives for rooftop installations of solar panels have boosted the growth of the global solar energy market. However, increase in governmental tariff plans and geographical footprint hamper the market. On the contrary, investments in R&D to develop high-efficiency third-generation solar modules such as perovskites expected to create lucrative opportunities in the near future.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/117

Detailed segmentation

The global solar energy market is divided on the basis of technology, solar module, application, end use, and geography. Based on technology, the market is segmented into photovoltaic systems and concentrated solar power systems. The photovoltaic system segment is projected to portray the fastest CAGR of 25.1% from 2019 to 2026, owing to increase in applications in the residential and nonresidential sectors for electricity generation. On the other hand, the parabolic troughs segment under concentration solar power systems is expected to register a CAGR of 10.3% during the forecast period.

On the basis of solar module, the global solar energy market is divided into monocrystalline, polycrystalline, cadmium telluride, amorphous silicon cells, and others. Based on application, the market is bifurcated into residential, commercial, and industrial.

The global solar energy market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America is anticipated to register a CAGR of 19.0% during the forecast period. however, the market across Asia-Pacific is expected to manifest the fastest CAGR of 25.0% during the forecast period, owing to rise in demand for solar energy from the emerging countries such as China, Japan, and South Africa and increase in governmental tax incentives in the countries such as India.

Enquire For Discount: https://www.alliedmarketresearch.com/purchase-enquiry/117

Major market players

• Abengoa Solar S.A.
• Acciona Energia S.A.
• Wuxi Suntech Power Co. Ltd.
• Bright Source Energy Inc.
• Esolar Inc.
• Gintech Energy Corp.
• Kaneka Corp.
• Sunpower Corporation
• Canadian Solar Inc.
• Tata Power Solar

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

Concentrated Solar Power Market Expected to Reach $8,046.7 Million by 2026

Solar Photovoltaic (PV) Installations Market Expected to Reach $393,594 Million by 2023

Solar Photovoltaic (PV) Panels Market to reach $307,204 Million, Globally by 2023

Solar Encapsulation Market Expected to Reach $4,231 Million, Globally, by 2022

Global Solar Power Equipment Market Expected to Reach $188,304.0 Million by 2025

Global Photovoltaic Market Expected to Reach $333,725.1 Million by 2026

Pre-book Offer 10% Discount:

Solar Shed Light Market - Global Opportunity Analysis and Industry Forecast, 2019-2026

Solar Power in Petrol Pump Market - Global Opportunity Analysis and Industry Forecast, 2019-2026

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com 
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn:  https://www.linkedin.com/company/allied-market-research/ 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg