Solar Panels Market Size to Grow by USD 44.96 Bn, Power Utilities to be Largest Revenue-generating End-user Segment – Technavio – QNT Press Release

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NEW YORK, Oct. 10, 2022 /PRNewswire/ — The solar panels market size is expected to grow by USD 44.96 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 7.61% during the forecast period, according to Technavio. The increasing investments in the renewable energy sector are driving the solar panels market growth. However, factors such as the intermittent nature of solar power may challenge market growth.

View a comprehensive report summary that describes the market size and forecast along with the research methodology. The FREE sample report is available in PDF format

The solar panels market report covers the following areas:

• Solar Panels Market size
• Solar Panels Market trends
• Solar Panels Market industry analysis

We provide a detailed analysis of around 25 vendors operating in the solar panels market, including Adani Group, Antec Solar GmbH, Canadian Solar Inc., First Solar Inc., Flisom AG, Hanergy Holding Group Ltd., JA Solar Technology Co. Ltd. , JinkoSolar Holding Co. Ltd., Kaneka Corp., Longi green energy technology Co. Ltd, Risen Energy Co. Ltd., Shell plc, Shunfeng International Clean Energy Co. Ltd, Soltecture GmbH, Suzhou Talesun Solar Technology Co. Ltd., Tata Sons Pvt. Ltd., Tesla Inc., Trina Solar Co. Ltd., Yingli Green Energy Holding Co. Ltd., and SoloPower Systems Inc.

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• End-user
• Power Utilities: The power utilities segment will be the largest contributor to market growth during the forecast period. The installation of large-scale solar power plants is increasing. These plants help generate clean energy and reduce carbon emissions. Moreover, favorable solar policies and incentives are expected to fuel the growth of this segment during the forecast period.
• Commercial
• Residential
• Type
• Crystalline Panel
• Thin-film Panel
• Geography
• APAC: APAC will account for 42% of the market’s growth during the forecast period. This growth is attributed to factors such as increasing environmental concerns, supportive government regulations, growing energy demand, and a decline in the cost of solar PV. China, Indiaand Japan are the key countries for the solar panels market in APAC. Moreover, market growth in this region will be faster than the growth of the market in other regions.
• Europe
• North America
• Middle East And Africa
• South America

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist solar panels market growth during the next five years
• Estimation of the solar panels market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the solar panels market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of solar panels market vendors

Solar Thermal Market by Application and Geography – Forecast and Analysis 2022-2026: The solar thermal market share is expected to increase by 167187.58 megawatts from 2021 to 2026.

Solar Home Systems Market by Type and Geography – Forecast and Analysis 2022-2026: The solar home systems market share is expected to increase by USD 1.39 billion from 2021 to 2026.

Full story available on Benzinga.com

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