DUBLIN–(BUSINESS WIRE)–The “Asia Pacific Solar Power Equipment Market Size, Share & Industry Trends Analysis Report By Equipment, By Application, By Country and Growth Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
The Asia Pacific Solar Power Equipment Market is expected to witness market growth of 11.6% CAGR during the forecast period (2021 2027).
The widespread utilization of fossil fuels for a variety of purposes, including transportation and energy generation, has had a significant negative influence on the environment, leading to a rise in global warming. As a result of increased worldwide awareness of fossil fuel depletion and its harmful impact on the environment, the demand for renewable energy supplies such as solar energy has emerged. The reduction of carbon emissions, while maximizing renewable energy resources is one of the most important requirements of the modern era. As a result, governments all over the world have implemented laws and measures to strengthen the renewable energy industry. Due to this, the number of domestic, nonresidential, and commercial solar energy users has surged, developing a market for solar power equipment.
The rising attention of governments in numerous nations to rely on solar energy has also driven the demand for solar power equipment. For example, approximately, 30% additional solar energy capacity in 2018 was installed all over the world. Solar power’s ability to generate electricity without any fuel expenses, global warming, and risk of fuel price surges has been a significant driver in its adoption across the world. The solar power equipment market is also driven by a desire to lessen reliance on foreign oil and fossil fuels.
To endorse the significance of clean energy, the government of India established the International Solar Alliance, which strives to promote solar energy utilization while reducing reliance on fossil fuels. Countries from all over the world have shown interest to become a part of this alliance. Over the next ten years, the Asia Pacific market is expected to grow at a high rate. This is due to an increase in solar system installation, government programs to upgrade and optimize the utilization of renewable energy, as well as policies such as feed-in-tariff, particularly in China and India. Additionally, increased public awareness of the advantages of solar energy is aiding the growth of the solar power equipment market. Moreover, increased demand for clean and renewable energy, rapid urbanization, industrialization, and economic growth are predicted to boost the region’s solar power equipment market.
The Chinese market dominated the Asia Pacific Solar Power Equipment Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $27,260.6 Million by 2027. The Japanese market is anticipated to grow at a CAGR of 10.9% during 2021-2027. Additionally, the Indian market is expected to display a CAGR of 12.3% during 2021- 2027.
Market Segments Covered in the Report:
By Equipment
By Application
List of Companies Profiled in the Report:
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.2 Key Factors Impacting the Market
Chapter 3. Competition Analysis – Global
3.1 Publisher Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Business Expansions
3.2.5 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: Product Launches and Product Expansions
Chapter 4. Asia Pacific Solar Power Equipment Market by Equipment
4.1 Asia Pacific Solar Panels Market by Country
4.2 Asia Pacific Mounting, Racking, & Tracking System Market by Country
4.3 Asia Pacific Storage System Market by Country
4.4 Asia Pacific Others Market by Country
Chapter 5. Asia Pacific Solar Power Equipment Market by Application
5.1 Asia Pacific Utility Market by Country
5.2 Asia Pacific Residential Market by Country
5.3 Asia Pacific Non-Residential Market by Country
Chapter 6. Asia Pacific Solar Power Equipment Market by Country
6.1 China
6.2 Japan
6.3 India
6.4 South Korea
6.5 Singapore
6.6 Malaysia
6.7 Rest of Asia Pacific
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/agtl8d
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