Solar Farm Market Trends: Predicted 18.5% CAGR by 2028, Assessing Size, Share, Demand, and Competitive Analysis

MarkNtel Advisors has recently published "Solar Farm Market Analysis Share, Growth, Demand, Forecast  2028," a comprehensive research report that provides in-depth analysis of various factors driving the industry's growth across different geographic regions. This report offers reliable insights into the historical, current, and projected trends, in the Solar Farm Market, presented through detailed explanations, tables, and figures. It equips stakeholders with valuable knowledge of the industry dynamics, enabling them to strategize effectively before making investment decisions.

The report indicates that the Solar Farm Market is anticipated to experience a CAGR of approximately 18.5% during the period of 2023-2028. Our analysis encompasses a thorough examination of various environmental factors, economic and social issues, technological advancements, and other relevant aspects that are crucial for stakeholders during decision-making processes. In order to provide a reliable, accurate, and comprehensive understanding of the industry, our analysts have conducted extensive research utilizing tools such as SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and Porter's Five Forces Analysis.

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Market Dynamics

Key Driver: Surging Adoption of Renewable Energy Sources Worldwide to Achieve Net-Zero Targets

Various countries worldwide are gradually transiting to clean energy generation in order to mitigate the rapid climate change and reduce the rising levels of carbon emissions. They are actively installing renewable energy sources, like solar farms, which act as an economical source of everyday power, i.e., stimulating the demand for PV panels.

Moreover, the rapidly rising population levels in emerging nations are directly impacting energy consumption & generation, which is why energy generation through renewable sources seems the best possible alternative to conventional power sources. Hence, in view of these trends, coupled with the shift from fossil fuels to low or zero-carbon technologies, and the surging fuel prices, are projected to drive the Solar Farm Market Globally during 2023-28.

Recent Developments

·        In January 2023, TrinaTracker, the wholly-owned subsidiary of Trina Solar, signed an 875MW solar tracker supply contract with Samsung C&T (SSCT) for Qatar’s largest solar plant, in which it will supply 2 PV plants, viz., 417MW in Mesaieed Industrial City & 458MW in Ras Laffan Industrial City, the commercial operations of both are projected to reach by the end of 2024.

·        On 23 September 2022, Hitachi Astemo announced the installation of its ground-mounted 3 MW solar power plant at Jalgaon, Maharashtra, India, built in a 43301 sqm area and consisting of 7128 ground-mounted solar panels & 10 inverters. It is the leader's first solar power plant installation in India, i.e., in line with its aim toward building a sustainable environment and becoming carbon neutral by 2050.

Segmenting Success: Unveiling Opportunities in the Solar Farm Market 2023-2028

The Solar Farm Market, characterized by its fragmented nature and numerous subdivisions, is thoroughly examined in the report. We provide detailed insights on each segment and geographical location, empowering stakeholders and industry leaders to comprehend the market dynamics and devise new strategies and investments. Furthermore, by gaining a deeper understanding of the ebb and flow within each segment, investors can make well-informed decisions and expand their production and revenue streams in the coming years. The report focuses on key market dynamics, including recent developments, trends, demand and supply chain analysis, purchase patterns, and product/service pricing, among others, within the following segments:

Based on Type

- Utility-Scale

- Distributed Generation

- Micro-Grids

- Others

Based on End Users

- Residential

- Commercial

- Industrial

Geographically, the Solar Farm Market expands across the following:

- North America

- South America

- Europe

- Middle East & Africa

- Asia Pacific

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Unveiling the Competitive Landscape: Insights into Key Players in the Solar Farm Market 2023-2028

The report provides a comprehensive competitive analysis, highlighting a key aspect of the industry—the existing players. Each player is extensively profiled, covering vital aspects such as business overview, demand and supply chain, key strategies, latest news, product launches, pricing catalog, recent developments, revenue generation, stakes and investments, and trends. These insights aim to assist stakeholders in diversifying and strategizing their investments and participation in the Solar Farm Market, ultimately seeking substantial revenue generation over the forecasted years.

- Brightsource Energy, Inc

- First Solar, Inc.

- Gruppostg.

- Himin Solar Energy Group

- Ja Solar Holdings Co. Ltd.

- Sharp Corporation

- Shenzhen Topray Solar Co., Ltd.

- Tata Power Solar Systems Ltd.

- Trina Solar

- Wuxi Suntech Power Co., Ltd.

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

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