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Solar Farm Market 2023 - Size, Share, Trends, Technology, Challenges And Forecast By 2032
Solar Farm Market
The Business Research Company's Solar Farm Global Market Report 2023 identifies surge in demand for electricity from renewable sources as the major driver for the Solar Farm market's growth in the forecast period. Renewable energy refers to the energy that comes from renewable resources that replenish themselves more quickly than they are used up. Solar farms utilize solar energy for producing electricity and thermal energy which can fulfill world energy demand 100 times over other renewable sources, which makes solar farms suitable for addressing increasing renewable energy demand across the world.
The global solar farm market size is expected to grow from $79.24 billion in 2022 to $96.75 billion in 2023 at a compound annual growth rate (CAGR) of 22.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of solar farm market is expected to reach $200.29 billion in 2027 at a CAGR of 20.0%.
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Major competitors in the Solar Farm market are Elevation Solar LLC., NextEra Energy Inc., Sharp Corporation, LONGi Green Energy Technology Co. Ltd., JinkoSolar Holding Co. Ltd.
A key trend in the Solar Farm market includes product innovation. Major companies operating in the solar farm market are focusing on increasing the applications of solar farms and integrating solar farms with other large-scale projects. For instance, in September 2022, Starlight, an Italy-based solar farm project developing company launched the Agri-eco Voltaics project Land of the Sun. Agri-eco Voltaics is a method of combining solar photovoltaics, contemporary, sustainable agriculture, and territory restoration. It has the potential to alleviate some of the world's most serious future economic and social concerns while also optimizing land use efficiency.
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The Solar Farm market is segmented -
• By Type: Surface Suction, Utility-scale, Distributed Generation, Microgrids, Other Types
• By Technology: Solar Photovoltaic, Mono-Si, Thin Film, Multi-Si, Other Technologies
• By End Use Industry: Residential, Commercial, Industrial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Solar Farm market.
The Business Research Company's "Global Solar Farm Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Solar Farm Market Include:
1. Executive Summary
2. Solar Farm Market Characteristics
3. Solar Farm Market Trends And Strategies
4. Solar Farm Market - Macro Economic Scenario
5. Global Solar Farm Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
………………………………………
32. Global Solar Farm Market Competitive Benchmarking
33. Global Solar Farm Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Solar Farm Market
35. Solar Farm Market Future Outlook and Potential Analysis
36. Appendix
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