Solar Power Equipment Market by Product (Solar Panels, Mounting, Racking System, Tracking System, Storage System, Others), by Application (Residential, Commercial, Industrial, Utility), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2024-2032
The Solar Power Equipment Market size was valued at USD 119.3 Billion in 2023 and is projected to reach USD 254.00 Billion by 2032, exhibiting a CAGR of 11.4 % during the forecast period. Solar power equipment consists of products used in the harnessing and management of solar energy to usable electricity. Major categories include solar PV modules, which are used to capture and generate electricity from sun’s rays; solar inverters, which convert direct current electricity output from PV modules to alternating current electricity; and solar batteries, used to store sun Generated electricity. Other parts consist of the mounting structures, as well as the charger regulators. It is common for features to be ones such as efficiency, the structure being durable, and minimum need for maintenance. They are used in domestic and industrial power supplies and as remote/mobile power supplies; it is renewable energy that can minimize the use of conventional fossil fuel and hence bad emissions to the atmosphere.
By Product:
By Application:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 11.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 11.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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