Solar power equipment is the source of generating energy from suns radiations, which helps in reducing greenhouse emissions. Traditionally, various sources of energy resources such as fossil fuels that include coal, oil, and natural gas have been used to fulfill energy requirements. This equipment is a renewable source of energy, which helps reduce the damage in the environment when compared to fossil fuels.
Rapid industrialization, growing population, and high government initiatives of using renewable energy sources are the factors that support the growth of the solar power equipment market. Rising environmental concerns are further expected to drive the market growth. However, this equipment is highly dependent of the suns radiation and high initial costs of this equipment are expected to hinder the market growth for solar power equipment. Various technological advancements and innovations that include nanotechnology are expected to provide lucrative opportunities for manufacturers in the solar power equipment market.
The market is segmented on the basis of type, application, and geography. Based on type, the market is segmented into photovoltaic technologies, concentrated solar power technologies, and others. On the basis of application, the market is segmented into residential, commercial, and industrial. Geographically, it has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the market include Indosolar Limited, Tata Power Solar Systems, Euro Multivision Ltd., Bharat Heavy Electricals Ltd, Central Electronics, Waaree Energies, Surana Solar Limited, XL Energy, Moser Baer Solar Ltd, and Websol Energy System.
- Porters five forces model helps analyze the potential of buyers & suppliers and the competitive sketch of the market, which is expected to guide the market players to develop strategies accordingly.
- It outlines the current trends and future scenario of the market from 2016 to 2023 to understand the prevailing opportunities and investment pockets.
- This report provides an in-depth analysis of the solar power equipment market to identify potential investment pockets.
- The key drivers, restraints, opportunities, and their detailed impact analyses have been elucidated.
Solar Power Equipment Market Key Segments:
- Photovoltaic technologies
- Concentrated solar power technologies
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- The Middle East
- Indosolar Limited
- Tata Power Solar Systems
- Euro Multivision Ltd.
- Bharat Heavy Electricals Ltd
- Central Electronics
- Waaree Energies
- Surana Solar Limited
- XL Energy
- Moser Baer Solar Ltd.
- Websol Energy System