A15990 | Pages: NA | Jul 2022 | 176 Views | | |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Solar Power Products Market
Request Now !Solar power is one of the most reliable and clean energy resources and proved to be a viable alternative to fossil fuels that are currently responsible for polluting the environment and contributing to global warming. Solar power is generated through various technologies like solar PV, solar thermal, concentrated solar thermal, and concentrated PV. The basic unit of the electric technology is a photovoltaic cell, which generates electricity by exploiting the photovoltaic effect, where under certain conditions electrons flow through semiconductor materials when exposed to sunlight. The utilization of solar panels has increased across the globe as they do not lead to any kind of pollution and their installation helps in combating the harmful emission of greenhouse gases. The governments have taken several initiatives in the form of offering subsidies, financial assistance, incentive to manufacturers, power producers, and current customers, which is expected to lead to the expansion of the market. High installation and maintenance cost are the restraining factors for the market.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years | 2020–2030 |
Base Year Considered | 2020 |
Forecast Period | 2021–2030 |
Forecast Unit | Value (USD) |
Segments Covered | Type, End Use, and Region |
Companies Covered | Tata Power Solar Systems Limited, Mundra Solar PV Limited, Vikram Solar Limited, Waaree Energies Ltd., Jain Irrigation Systems Limited, EMMVEE Photovoltaic Power Private Limited, V-Guard Industries Limited, C.R.I. Pumps Private Limited, Shakti Pumps (India) Limited, and Kotak Urja Private Limited |
COVID-19 Impact Analysis
Top Impacting Factors
In recent years, the solar power products market witnessed an enormous amount of growth. The most important factors that stimulate growth of the solar power products market include unpredictable fossil fuel prices, need for dissociation of dependence on fossil fuels, imports from areas of political volatility, and environmental concerns of a greenhouse gas emission associated with fossil fuel use. Many governments have set clean energy targets to achieve results by switching over to renewable energy such as the solar. The governments have also partnered with several nodal agencies at the central and state levels for the installation off grid PV systems. Subsidies are made available to customers to increase the installation of grid connected rooftop photovoltaic.
Market Trends
Key Benefits of Report
This study presents the analytical depiction of the solar power products industry along with the current trends and future estimations to determine the imminent investment pockets.
Questions Answered in Solar Power Products Market Report
Key Market Segments
Segments | Sub-segments |
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By Type |
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By End Use |
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By REGION |
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