Industrial solar generator Market Outlook - 2030
The global industrial solar generator market size was valued at $195.2 million in 2020, and is forecasted to reach $907.0 million by 2030, growing at a CAGR of 16.9% from 2021 to 2030. A solar generator is a device that, when used in conjunction with solar panels, provides crucial automatic backup power to industries at times when they are most needed, such as during power outages. They come with the option of fixed and mobile structures and have inbuilt storage batteries that store surplus power which can be utilized during non-sunlight hours. Solar generators are also portable but don’t include the moving components.
An inverter, solar panels, a solar panel battery, and a battery charger are the basic components of these systems. The solar panels of a solar generator collect energy from the sun and store it in the generator's built-in battery. The inverter then takes that energy and converts it from DC power to AC power before releasing it. After the energy has been released, power may utilized in different industrial appliances and/or electronic gadgets when they are most needed, such as during a power outage.
Solar generators are cost-effective; they require minimum capital to operate, produce no pollution, and may store energy for later use. They are rapidly being deployed for the generation and distribution of power across the globe as a result of these considerations. Due to growing urbanization and population growth, an imbalance between supply and demand for energy has resulted in power shortages in many areas, which solar generators can help to alleviate. Furthermore, the market is impacted by growing worries about climate change, which has raised awareness of the benefits of renewable energy sources like as solar, hydro, and wind. Owing to which, governments of various countries are encouraging investments in renewable resources by providing tax relaxations and incentives. These are some of the factors which are driving the demand of industrial solar generators globally. Also availability of alternate energy source for power generation can be a restraint to the growth of the market, while increasing government policies on renewable resources by providing tax relaxations and incentives can be considered a industrial solar generator market opportunities. These factors are some of the market trends industrial solar generator market trends.
The global Industrial solar generator market is segmented on the basis of type, application, and region. On the basis of Type, the global market is segmented into below 40 KWH, 40-80 KWH, 80-150 KWH, and over 150 KWH. The applications of Industrial solar generator include Electrical Industry, Oil and Gas Industry, and others. On the basis of region, the global market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by LAMEA and Europe.
Major players operating in the global industrial solar generator industry include Juwi, Ameresco, Intech Clean Energy, REC Solar, Jakson Group, Kirchner Solar, Goal Zero LLC, Hollandia Solar, and Altern Limited.
Industrial solar generator Market, by Type
The 80-150 KWH segment accounted for the largest share in 2020, while the 40-80 KWH segment is projected to grow at the highest CAGR of 18.0%.
80-150 KWH in Industrial Solar Generator is projected as the most lucrative segment.
Industrial solar generator Market, by Application
The industrial solar generator Market Share in oil & gas segment accounted for the largest share in 2020.
Oil and Gas Industry Application is projected as the most lucrative segment.
Industrial solar generator Market, by Region
Because of increased government assistance for solar installations and lower solar panel prices, Asia-Pacific is anticipated to have the highest market share over the projection period.
Asia-Pacific is projected as the most lucrative market.
Key Benefits For Stakeholders
- The report provides in-depth analysis of the global Industrial solar generator market along with the current trends and future estimations.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
- Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global Industrial solar generator market for strategy building.
- A comprehensive market analysis covers the factors that drive and restrain the global Industrial solar generator market growth.
- The qualitative data about market dynamics, trends, and developments is provided in the report.
Impact Of Covid-19 On The Global Industrial Solar Generator Market
- COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
- Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
- Industrial solar generator is primarily used in Electrical Industry, Oil and Gas Industry, and others.
- In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown.
- The demand–supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the industry during the COVID-19 pandemic.
- Due to a scarcity of resources in various parts of the world, the COVID-19 epidemic has impacted negatively on the manufacturing and industries. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
Key Market Segments
- Below 40 KWH
- 40-80 KWH
- 80-150 KWH
- Over 150 KWH
- Electrical Industry
- Oil and Gas Industry
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA
Industrial solar generator Market Report Highlights
Key Market Players
Intech Clean Energy, Jakson Group, Altern Limited, REC Solar Holdings AS, Juwi AG, Goal Zero Llc, Kirchner Solar Group GmbH, Hollandia Solar, Ameresco
A solar generator is a small capacity, stand-alone SPV power system that consists of a PV array connected to a suitable battery bank and a 12, 24, or 48 V inverter.
For the purpose of analysis, the report segments the global Industrial solar generator market based on Type, application, and region. On the basis of Type, the global Industrial solar generator market is segmented into below 40 KWH, 40-80 KWH, 80-150 KWH, and over 150 KWH. The applications of Industrial solar generator include Electrical Industry, Oil and Gas Industry, and others. On the basis of region, the global Industrial solar generator market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.