Dublin, July 6, 2021 (GLOBE NEWSWIRE) – The “Ground-Based Photovoltaic Utilities Market – Forecasts 2021 to 2026” report was added to ResearchAndMarkets.com offer.
The global ground-mounted PV utility market is expected to grow at a compound annual growth rate of 9.85% over the forecast period to reach a market size of US $ 9.534 billion in 2026, from US $ 4.939 billion Americans in 2019.
The ground-based photovoltaic utilities market is expected to grow in the coming years. Growing concerns for the environment and depletion of natural resources have stimulated demand for renewable energy sources. The demand for solar energy has therefore increased. A grid-connected photovoltaic power system is a photovoltaic solar power plant that produces electricity and is connected to the distribution grid.
Impact of COVID-19
The ground-based solar photovoltaic service market has been severely affected by the COVID-19 outbreak. Lockdown restrictions in various countries have resulted in the shutdown of various solar projects. The market has experienced a significant decline in 2020. It is estimated that after COVID, with the recovery of the economy in the world, the demand for ground-based solar PV services will increase and the market will experience significant growth.
In 2019, the Cabinet Committee on Economic Affairs (CCEA) in India approved financial support of over Rs. 46,000 crore by 2022, to promote the use of solar energy among farmers and consumers. support the solar program on the roofs of the country. With the help of this program, the government proposes to add 25.75 GW of solar capacity by 2022. It promotes the installation of 17.5 lakh autonomous solar-powered agricultural pumps, 10 GW of renewable power plants decentralized mounted on the ground and connected to the network.
Countries around the world are fighting increasing global warming and the use of renewable energy plays an important role in reducing carbon dioxide emissions. Several countries are revising their energy policies to encourage the installation of photovoltaic solar panels. The growing trend in the transition to renewables will drive the demand for ground-based photovoltaic utilities. Shell, a major oil and gas company, on February 11, 2021, announced its intention to spend US $ 2-3 billion annually on renewables and energy solutions to help achieve net zero status by 2050. The United States recorded a new achievement in the case of renewables in 2020 by adding 33.6 GW combined of solar and wind capacity.
Policies such as the feed-in tariff program and the power purchase agreement will promote the growth of the market for ground-based PV services. The fall in the prices of photovoltaic components combined with strict renewable energy targets has strongly stimulated the development of the market for solar photovoltaic assembly systems. In addition, a number of initiatives would stimulate demand for ground-based PV utility facilities, such as tax breaks, assets and financial leverage, combined with increased spending by public and private finance institutions. The cost of installing photovoltaic solar panels is quite high, thus acting as an obstacle to the growth of the market
North America is one of the biggest markets.
The North America region is one of the largest markets for ground-based photovoltaic utilities. The United States has one of the largest large-scale solar PV installations, which could provide electricity to approximately 12 million American homes. It is estimated that in the coming years solar PV installations will increase due to environmental concerns. There will also be an increase in the use of solar PV installations for commercial and residential purposes. The integration of advanced technologies in the new products launched will further stimulate the growth of the market. The Asia-Pacific region will also experience significant market growth. The increase in government initiatives will promote market growth. Countries like China, India and Japan will play a major role in the growth of the market. In addition, increased demand for electricity and limited non-renewable resources will increase the demand for ground-based PV services in the Asia-Pacific region.
The main players in the ground-based photovoltaic plant market are Unirac Inc., Mounting System GmbH, Schletter Group, Clenergy, Xiamen Universe Solar Tech. Co. Ltd., Racking PV, SolarWorld AG, K2 Systems GmbH, Land Power Solar Technology Co. Ltd., Tata International Ltd., Van der Valk Solar Systems BV, Quick Mount PV, Xiamen Grace Solar Technology Co. Ltd., Xiamen Corigy New Energy Technology Co. Ltd., RBI Solar Inc. These companies compete with each other using various strategies such as joint venture formation, merger and acquisition. Product customization and the practice of bulk manufacturing are also among the strategies used by major players to expand their reach and gain greater market share.
Main topics covered:
2. Research methodology
3. Executive summary
4. Market dynamics
4.1. Market factors
4.2. Market constraints
4.3. Porters Five Forces Analysis
4.4. Industry value chain analysis
5. Ground-Based Photovoltaic Services Market Analysis, By Technology
6. Ground-Based Photovoltaic Services Market Analysis, By End User
7. Ground-Based Photovoltaic Utilities Market Analysis, By Geography
7.2. North America
7.2.1. North America Ground-Based Photovoltaic Services Market Analysis, By Technology
7.2.2. North America Ground-Based Photovoltaic Services Market Analysis, By End User
7.2.3. By country
22.214.171.124. United States
7.3. South America
7.3.1. South America Ground-Based Photovoltaic Services Market Analysis, By Technology
7.3.2. South America Ground-Based Photovoltaic Services Market Analysis, By End User
7.3.3. By country
7.4.1. Market Analysis of Ground-Based Photovoltaic Services in Europe, by Technology
7.4.2. Market Analysis of Ground-Based Photovoltaic Services in Europe, by End User
7.4.3. By country
7.5. Middle East and Africa
7.5.1. Middle East & Africa Ground-Based Photovoltaic Services Market Analysis, By Technology
7.5.2. Middle East & Africa Ground-Based Photovoltaic Services Market Analysis, By End User
7.5.3. By country
126.96.36.199. Saudi Arabia
188.8.131.52. United Arab Emirates
7.6. Asia Pacific
7.6.1. Asia-Pacific Ground-Based Photovoltaic Services Market Analysis, By Technology
7.6.2. Asia-Pacific Ground-Based Photovoltaic Services Market Analysis, By End User
7.6.3. By country
184.108.40.206. South Korea
8. Competitive environment and analysis
8.1. Major players and strategic analysis
8.2. Emerging players and market profitability
8.3. Mergers, acquisitions, agreements and collaborations
8.4. Supplier competitiveness matrix
9. Company profiles
9.1. Assembly systems GmbH
9.2. Schletter Group
9.4. Solar technology from the Xiamen universe. Co. Ltd.
9.5. Photovoltaic shelving
9.6. SolarWorld AG
9.7. K2 Systems GmbH
9.8. Earth Power Solar Technology Co. Ltd.
9.9. Van der Valk Solar Systems BV
9.10. PV fast mounting
9.11. Xiamen Grace Solar Technology Co. Ltd.
9.12. Xiamen Corigy New Energy Technology Co. Ltd
9.13. RBI Solar Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/wm29v2
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900