Global Solar Farm Market Size, Trends and Growth Opportunity, By Type (Utility-scale, Distributed Generation, Microgrids, Others) and End User Industry (Residential, Commercial, Industrial), By Region and Forecast Till 2027.

Global Solar Farm Market Size, Trends and Growth Opportunity, By Type (Utility-scale, Distributed Generation, Microgrids, Others) and End User Industry (Residential, Commercial, Industrial), By Region and Forecast Till 2027.

Global Solar Farm Market

The Global Solar Farm Market was valued at US$1140 million in 2021 and it is expected to reach at US$ 7750 million in 2027 at a CAGR of 36.33% during forecast period 2022-2027.

Solar farms are places where a lot of solar panels are installed to collect solar energy and generate electricity. These differ from rooftop solar systems and commercial solar power systems in that they use widely spaced, ground-mounted panels to provide electricity to buildings, business buildings, and electric grids.

Market Drivers

The shingles' adaptability and durability add to their appeal and allow for their use on a variety of buildings, adding to their appeal. Homeowners are becoming more interested in the CIGS thin-film solar farm due to its portability, flexibility, and adaptability. The traditional solar panels' need for a sizable installation area is further reduced by the solar farms. These components are projected to have a favorable effect on the growth of the solar farm market worldwide. They blend nicely with both new and old roofs since they are lighter and more flexible. As a result, the advantages that solar farms provide further spur their demand, which in turn fuels the expansion of the market as a whole.

Market Restraints

Numerous solar panels must be positioned in a solar farm. This alters the terrain both practically and artistically. The manufacturing of energy is the only activity still taking place there. The panels could have a harmful effect on local species and habitats after they are installed. The adverse effects on local fauna and habitats will also be a significant obstacle to the market expansion for solar farms.

Market Segmentation

The global solar panels market is segmented into type and end user. By type it segmented into utility-scale, distributed generation, microgrids, others. By end user industry it segmented into residential, commercial, industrial.

Regional Analysis

The global solar farm market segmented into five regions North America, Europe, Latin America, Asia Pacific, Middle East and Africa. In terms of market revenue and market share, Asia-Pacific now dominates the solar farm industry and will maintain this position of strength throughout the projection period. During the projection period, the market is expected to grow at a faster rate due to favorable legislation that encourage the construction of solar farms and more consumer spending on home renovations and upgrades in the region.

Key Players

Various key players are listed in this report such as First Solar (U.S.), STR Holdings Inc. (U.S.), HANGZHOU FIRST APPLIED MATERIAL CO., LTD. (China), Dow (U.S.), DuPont (U.S.), Mitsubishi Chemical Corporation.(Japan), Cambiosolar (Spain), Kuraray Europe Gmbh (Germany), 3M (U.S.), RenewSys India Pvt. Ltd (India)

Market Taxonomy

By Type

• Utility-Scale
• Distributed Generation
• Microgrids
• Others

By End User

• Residential
• Commercial
• Industrial

Key Question Addressed by the Report

• What are the Key Opportunities in Global Solar Farm Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the role of key players in the value chain?

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