Energy & Power
Global Solar Farms Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Solar Farms Market, By Type (Surface Suction, Utility-scale, Distributed Generation, Microgrids, and Others), Technology (Solar Photovoltaic, Mono-Si, Thin Film, Multi-Si, and Others), End User Industry (Residential, Commercial, and Industrial), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global solar farms market size is valued to be USD 78.92 billion in 2023 and is expected to reach USD 301.78 billion by 2032, and it is expected to register a CAGR of 18.89% over the forecast period 2024-2032.
Solar farms, sometimes referred to as solar parks or solar power plants, are expansive solar photovoltaic (PV) panel installations with the goal of absorbing sunlight and producing electricity. Large-scale solar power generation is the exclusive focus of these farms, and they are essential to the creation of renewable energy.
In order to lessen dependency on fossil fuels and the environmental damage that comes with using conventional energy sources, solar farms are a sustainable and renewable energy solution. Their involvement is essential in the shift towards an energy system that is low-carbon and more sustainable.
Market Dynamics
DRIVERS
- Highly adaptable and durable
- Rising consumer preferences towards renewable energy resources
RESTRAINTS
- High installation costs
OPPORTUNITIES
- Implementation of favorable government regulations
- Growing public awareness about solar farming
CHALLENGES
- Lack of skilled labour
SEGMENTATION
MARKET SEGMENTATION
- Type
- Surface Suction
- Utility-scale
- Distributed Generation
- Microgrids
- Others
- Technology
- Solar Photovoltaic
- Mono-Si
- Thin Film
- Multi-Si
- Others
- End User Industry
- Residential
- Commercial
- Industrial
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- First Solar
- STR Holdings Inc.
- HANGZHOU FIRST APPLIED MATERIAL CO., LTD.
- Dow
- DuPont
- Mitsubishi Chemical Corporation.
- Cambiosolar
- Kuraray Europe Gmbh
- 3M
- RenewSys India Pvt. Ltd.
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.3 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Solar Farms Market, by Type
- 3.2 Global Solar Farms Market, by Technology
- 3.3 Global Solar Farms Market, by End User Industry
- 3.4 Global Solar Farms Market, by Geography
- 3.5 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Trend 1
- 5.1.2 Trend 2
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Highly adaptable and durable
- 5.2.2 Rising consumer preferences towards renewable energy resources
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High installation costs
- 5.3.2 Restraint 2
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Implementation of favorable government regulations
- 5.4.2 Growing public awareness about solar farming
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Lack of skilled labour
- 5.5.2 Challenge 2
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL SOLAR FARMS MARKET, BY TYPE
- 6.1 Type Summary
- 6.2 Market Attractive Index
- 6.3 Global Solar Farms Market, by Type (2019-2032)
- SECTION 7 - GLOBAL SOLAR FARMS MARKET, BY TECHNOLOGY
- 7.1 Technology Summary
- 7.2 Market Attractive Index
- 7.3 Global Solar Farms Market, by Technology (2019-2032)
- SECTION 8 - GLOBAL SOLAR FARMS MARKET, BY END USER INDUSTRY
- 8.1 End User Industry Summary
- 8.2 Market Attractive Index
- 8.3 Global Solar Farms Market, by End User Industry (2019-2032)
- SECTION 8 - GLOBAL SOLAR FARMS MARKET, BY GEOGRAPHY
- 8.1 Regional Summary
- 8.2 Market Attractive Index
- 8.3 Global Solar Farms Market, by Geography (2019-2032)
- SECTION 9 - NORTH AMERICA SOLAR FARMS MARKET
- 9.1 North America Summary
- 9.2 Market Attractive Index
- 9.3 North America Solar Farms Market, by Type (2019-2032)
- 9.4 North America Solar Farms Market, by Technology (2019-2032)
- 9.5 North America Solar Farms Market, by End User Industry (2019-2032)
- 9.6 North America Solar Farms Market, by Country (2019-2032)
- 9.6.1 U.S.
- 9.6.2 Canada
- 9.6.3 Mexico
- 9.6.4 Rest of North America
- SECTION 10 - EUROPE SOLAR FARMS MARKET
- 10.1 Europe Summary
- 10.2 Market Attractive Index
- 10.3 Europe Solar Farms Market, by Type (2019-2032)
- 10.4 Europe Solar Farms Market, by Technology (2019-2032)
- 10.5 Europe Solar Farms Market, by End User Industry (2019-2032)
- 10.6 Europe Solar Farms Market, by Country (2019-2032)
- 10.6.1 Germany
- 10.6.2 U.K.
- 10.6.3 France
- 10.6.4 Italy
- 10.6.5 Spain
- 10.6.6 Russia
- 10.6.7 The Netherlands
- 10.6.8 Belgium
- 10.6.9 Turkey
- 10.6.10 Rest of Europe
- SECTION 11 - ASIA-PACIFIC SOLAR FARMS MARKET
- 11.1 Asia-Pacific Summary
- 11.2 Market Attractive Index
- 11.3 Asia-Pacific Solar Farms Market, by Type (2019-2032)
- 11.4 Asia-Pacific Solar Farms Market, by Technology (2019-2032)
- 11.5 Asia-Pacific Solar Farms Market, by End User Industry (2019-2032)
- 11.6 Asia-Pacific Solar Farms Market, by Country (2019-2032)
- 11.6.1 China
- 11.6.2 India
- 11.6.3 Japan
- 11.6.4 South Korea
- 11.6.5 Singapore
- 11.6.6 Malaysia
- 11.6.7 Australia
- 11.6.8 Thailand
- 11.6.9 Philippines
- 11.6.10 Rest of Asia-Pacific
- SECTION 12 - SOUTH AMERICA SOLAR FARMS MARKET
- 12.1 South America Summary
- 12.2 Market Attractive Index
- 12.3 South America Solar Farms Market, by Type (2019-2032)
- 12.4 South America Solar Farms Market, by Technology (2019-2032)
- 12.5 South America Solar Farms Market, by End User Industry (2019-2032)
- 12.6 South America Solar Farms Market, by Country (2019-2032)
- 12.6.1 Brazil
- 12.6.2 Argentina
- 12.6.3 Chile
- 12.6.4 Colombia
- 12.6.5 Rest of South America
- SECTION 13 - MIDDLE EAST AND AFRICA SOLAR FARMS MARKET
- 13.1 Middle East and Africa Summary
- 13.2 Market Attractive Index
- 13.3 Middle East and Africa Solar Farms Market, by Type (2019-2032)
- 13.4 Middle East and Africa Solar Farms Market, by Technology (2019-2032)
- 13.5 Middle East and Africa Solar Farms Market, by End User Industry (2019-2032)
- 13.6 Middle East and Africa Solar Farms Market, by Country (2019-2032)
- 13.6.1 Kingdom of Saudi Arabia
- 13.6.2 South Africa
- 13.6.3 U.A.E.
- 13.6.4 Egypt
- 13.6.5 Rest of Middle East and Africa
- SECTION 14 - COMPANY SHARE ANALYSIS
- 14.1 Global Solar Farms Market, Company Share Analysis
- 14.2 North America Solar Farms Market, Company Share Analysis
- 14.3 Europe Solar Farms Market, Company Share Analysis
- 14.4 Asia-Pacific Solar Farms Market, Company Share Analysis
- SECTION 15 - COMPANY PROFILES
- 15.1 First Solar
- 15.1.1 Company Snapshot
- 15.1.2 Financial Overview
- 15.1.3 Product Portfolio
- 15.1.4 Recent Developments
- 15.2 STR Holdings Inc.
- 15.2.1 Company Snapshot
- 15.2.2 Financial Overview
- 15.2.3 Product Portfolio
- 15.2.4 Recent Developments
- 15.3 HANGZHOU FIRST APPLIED MATERIAL CO., LTD.
- 15.3.1 Company Snapshot
- 15.3.2 Financial Overview
- 15.3.3 Product Portfolio
- 15.3.4 Recent Developments
- 15.4 Dow
- 15.4.1 Company Snapshot
- 15.4.2 Financial Overview
- 15.4.3 Product Portfolio
- 15.4.4 Recent Developments
- 15.5 DuPont
- 15.5.1 Company Snapshot
- 15.5.2 Financial Overview
- 15.5.3 Product Portfolio
- 15.5.4 Recent Developments
- 15.6 Mitsubishi Chemical Corporation.
- 15.6.1 Company Snapshot
- 15.6.2 Financial Overview
- 15.6.3 Product Portfolio
- 15.6.4 Recent Developments
- 15.7 Cambiosolar
- 15.7.1 Company Snapshot
- 15.7.2 Financial Overview
- 15.7.3 Product Portfolio
- 15.7.4 Recent Developments
- 15.8 Kuraray Europe Gmbh
- 15.8.1 Company Snapshot
- 15.8.2 Financial Overview
- 15.8.3 Product Portfolio
- 15.8.4 Recent Developments
- 15.9 3M
- 15.9.1 Company Snapshot
- 15.9.2 Financial Overview
- 15.9.3 Product Portfolio
- 15.9.4 Recent Developments
- 15.10 RenewSys India Pvt. Ltd.
- 15.10.1 Company Snapshot
- 15.10.2 Financial Overview
- 15.10.3 Product Portfolio
- 15.10.4 Recent Developments
- SECTION 16 - RELATED REPORTS
- SECTION 17 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.