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Solar Farm Market Report by Type, End Use Industry, and Region 2024-2032

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    Report

  • 137 Pages
  • April 2024
  • Region: Global
  • IMARC Group
  • ID: 5753437
The global solar farm market size reached US$ 91.5 Billion in 2023. Looking forward, the market is projected to reach US$ 284.5 Billion by 2032, exhibiting a growth rate (CAGR) of 13.43% during 2023-2032.

A solar farm is a location that has multiple solar panels set up to collect solar energy and produce electricity. A large collection of photovoltaic (PV) solar panels collects energy from the sun, converts it into electricity, and sends that electricity to local and national grids for distribution and consumption. Located in an open area of the neighborhood, the solar panels on the solar farm receive maximum sunlight exposure. Unlike rooftop solar and commercial solar power systems, they use ground-mounted solar panels to power buildings, commercial buildings, and electric grids. The solar farms operate as power plants or PV power stations to produce electricity for consumers, which are also known as solar parks and solar power stations.

Solar Farm Market Trends

The market is majorly driven by the escalating demand for photovoltaic (PV) technology across numerous end-use industries. This can be attributed to the augmenting need for renewable energy resources for power generation to minimize the dependency on conventional fuels. In line with this, a considerable rise in the depletion of fossil fuels is resulting in higher installations of solar farms on the global level. Moreover, favorable government initiatives promoting the production and distribution of energy from renewable sources to minimize the emission of pollutants are propelling the market. Apart from this, increasing investments by the major market players in the solar energy industry are also impacting the market positively.

Continual technological advancements, along with the reduction in the production cost of photovoltaic panels, are further providing an impetus to the market. Some of the other factors creating a positive market outlook include the rising consumer awareness regarding solar water farming, growing environmental concerns, inflating disposable income levels and extensive research and development (R&D) activities conducted by market players with an enhanced focus on sustainable development.

Key Market Segmentation

This report provides an analysis of the key trends in each sub-segment of the global solar farm market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type and end use industry.

Breakup by Type:

  • Surface Suction
  • Utility-scale
  • Distributed Generation
  • Microgrids
  • Others

Breakup by End Use Industry:

  • Residential
  • Commercial
  • Industrial

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being First Solar Inc, JA SOLAR Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd, Hanwha Q CELLS GmbH, RenewSys India Pvt. Ltd, Sharp Corporation, Shenzhen Topray Solar Co. Ltd, Tata Power Solar System Inc, The Solaria Corporation, Trina Solar Co. Ltd. and Vikram Solar Ltd.

Key Questions Answered in This Report

1. What was the size of the global solar farm market in 2023?
2. What is the expected growth rate of the global solar farm market during 2024-2032?
3. What are the key factors driving the global solar farm market?
4. What has been the impact of COVID-19 on the global solar farm market?
5. What is the breakup of the global solar farm market based on the type?
6. What is the breakup of the global solar farm market based on the end use industry?
7. What are the key regions in the global solar farm market?
8. Who are the key players/companies in the global solar farm market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar Farm Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Surface Suction
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Utility-scale
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Distributed Generation
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Microgrids
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by End Use Industry
7.1 Residential
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Commercial
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Industrial
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 First Solar Inc
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.1.4 SWOT Analysis
13.3.2 JA SOLAR Technology Co. Ltd.
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.3 JinkoSolar Holding Co. Ltd.
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4 LONGi Green Energy Technology Co. Ltd
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Hanwha Q CELLS GmbH
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 RenewSys India Pvt. Ltd
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.7 Sharp Corporation
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.7.4 SWOT Analysis
13.3.8 Shenzhen Topray Solar Co. Ltd
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.8.3 Financials
13.3.8.4 SWOT Analysis
13.3.9 Tata Power Solar System Inc
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.9.3 Financials
13.3.9.4 SWOT Analysis
13.3.10 The Solaria Corporation
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.11 Trina Solar Co. Ltd.
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
13.3.12 Vikram Solar Ltd.
13.3.12.1 Company Overview
13.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Solar Farm Market: Major Drivers and Challenges
Figure 2: Global: Solar Farm Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Solar Farm Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Solar Farm Market: Breakup by Type (in %), 2023
Figure 5: Global: Solar Farm Market: Breakup by End Use Industry (in %), 2023
Figure 6: Global: Solar Farm Market: Breakup by Region (in %), 2023
Figure 7: Global: Solar Farm (Surface Suction) Market: Sales Value (in Million US$), 2018 & 2023
Figure 8: Global: Solar Farm (Surface Suction) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 9: Global: Solar Farm (Utility-scale) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Solar Farm (Utility-scale) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Solar Farm (Distributed Generation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Solar Farm (Distributed Generation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Solar Farm (Microgrids) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Solar Farm (Microgrids) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Solar Farm (Other Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Solar Farm (Other Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Solar Farm (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Solar Farm (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Solar Farm (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Solar Farm (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Solar Farm (Industrial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Solar Farm (Industrial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: North America: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: North America: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: United States: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: United States: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Canada: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Canada: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Asia-Pacific: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Asia-Pacific: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: China: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: China: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Japan: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Japan: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: India: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: India: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: South Korea: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: South Korea: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Australia: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Australia: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: Indonesia: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: Indonesia: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Others: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Others: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Europe: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Europe: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: Germany: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: Germany: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: France: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: France: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: United Kingdom: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: United Kingdom: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: Italy: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: Italy: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Spain: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Spain: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Russia: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Russia: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Others: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Others: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Latin America: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Latin America: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Brazil: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Brazil: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Mexico: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Mexico: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Others: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Others: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Middle East and Africa: Solar Farm Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: Middle East and Africa: Solar Farm Market: Breakup by Country (in %), 2023
Figure 71: Middle East and Africa: Solar Farm Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Global: Solar Farm Industry: SWOT Analysis
Figure 73: Global: Solar Farm Industry: Value Chain Analysis
Figure 74: Global: Solar Farm Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Solar Farm Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Solar Farm Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: Solar Farm Market Forecast: Breakup by End Use Industry (in Million US$), 2024-2032
Table 4: Global: Solar Farm Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 5: Global: Solar Farm Market: Competitive Structure
Table 6: Global: Solar Farm Market: Key Players

Companies Mentioned

  • First Solar Inc
  • JA SOLAR Technology Co. Ltd.
  • JinkoSolar Holding Co. Ltd.
  • LONGi Green Energy Technology Co. Ltd
  • Hanwha Q CELLS GmbH
  • RenewSys India Pvt. Ltd
  • Sharp Corporation
  • Shenzhen Topray Solar Co. Ltd
  • Tata Power Solar System Inc
  • The Solaria Corporation
  • Trina Solar Co. Ltd.
  • Vikram Solar Ltd.

Methodology

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Table Information