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Solar Energy Market Size – USD 92.80 billion in 2019, Market Growth – CAGR of 13.6%.
VANCOUVER, BRITISH COLUMBIA, CANADA, October 25, 2021 /EINPresswire.com/ — The global Solar Energy Market will be worth USD 243.95 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing global population and the increasing demand for electricity in developing countries. The decreasing cost of renewable sources of energy is expected to drive the industry’s growth over the forecast period. The increasing cost of coal, gas, or oil has resulted in the government’s growing initiatives to reduce the dependency on coal-generated energy.
The Global Solar Energy Market research study published by Emergen Research is an extensive collection of insightful information about the Solar Energy industry. The report covers the Solar Energy Market segmentation along with a detailed outline of the Solar Energy market size with regards to volume and valuation. The report provides comprehensive coverage of the Solar Energy market scenario for the current period and forecast timeline of 2020-2027. The Solar Energy market report contains an in-depth analysis of the historical, current, and projected revenues for every industry vertical, segment, end-use industries, applications, and regions.
You Can Download Free Sample PDF Copy of Solar Energy Market at https://www.emergenresearch.com/request-sample/230
Global Solar Energy Market – Overview:
The latest market intelligence report, titled ‘Global Solar Energy Market’, is intended to provide the target audience with the necessary information about the global Solar Energy industry. The report comprises a detailed analysis of the vital elements of the Solar Energy market, including key drivers, constraints, opportunities, limitations, threats, and micro- and macro-economic factors. The report carefully investigates the present market scenario and the fundamental growth prospects.
Key Highlights From The Report
In July 2019, a partnership was formed between NTT Com-Netmagic and Tata Power Solar. The association was created with an aim to provide an IT solution for the company’s upcoming 50MW solar photovoltaic power plant project in Maharashtra.
The Solar Photovoltaic segment is forecasted to be the fastest-growing segment over the forecast period. The industrial and commercial sectors increasingly use it for large scale power generation.
The industrial segment held the largest market share of 48.5% in 2019 due to the increasing adoption of renewable energy sources for power generation as the industries want to be less carbon-intensive and more energy efficient in the future.
Solar energy is mainly used for the generation of electricity due to the rapid urbanization in developing economies coupled with the government’s increasing initiative to reduce dependency on coal-generated energy.</…….
