According to a report published by Transparency Market Research, the global containerized solar generators market is likely to expand at a CAGR of 7.3% during the assessed period 2017-2025. By the end of the forecast period the market is likely to be valued at US$570.9mn.
Global Containerized Solar Generators Market: Government Investment for Development in Renewable Energy Bolsters the Growth of Market
Contributed by | Transparency Market Research
The global containerized solar generators market is fragmented in nature due to the presence of several players in global market. The market witness an intense competition among the regional as well global players. The leading companies in order to extend their foothold are opting different strategies such as acquisition, partnerships with regional players. Some of the major players in the market are HCL Energy LLC, Photon Energy NV, REC Solar Holdings AS, and Ecosphere Technologies.
According to a report published by Transparency Market Research, the global containerized solar generators market is likely to expand at a CAGR of 7.3% during the assessed period 2017-2025. By the end of the forecast period the market is likely to be valued at US$570.9mn.
Which Application Of Containerized Solar Generators Is Most Popular And Why?
Containerized solar generators find its application in commercial, industrial, governmental and residential sectors. Amongst the pack, commercial sector is known to be generating the most of the revenue in the market. Rise in awareness among consumers regarding the use of clean energy accompanied with the surge in the energy costs for commercial structures is likely to aid the commercial sector to dominate for a longer period of time.
What Factors Are Helping The Market To Witness A Stupendous Growth?
Ecological benefits obtained from the electricity generated from containerized solar generators is the major factor that is driving the global market. Rise in awareness among consumers regarding the adverse impact caused by non-renewable source of energy is steering the global population to go for clean energy. Another factor that is contributing to the growth of the market is the dropping rate of solar power. Various companies due to such low rates, have started using solar power to run machines. This has dramatically reduced the expense required for running a factory.
Several initiatives by government of several countries has promoted the growth of market by encouraging with the help of investments required for renewable energy. Apart from this, the compactness feature of the containerized solar generators accompanied with ability to produce electricity in bad weather is fueling the growth of the market. Recently, PWRstation, a designer and marketer of industrial grade solar product which is based in Switzerland released its PWRstation Class S 10-50 solar energy generators. It is believed that this going to help the country’s referendum for seeking clean energy.
However it has been noticed that the need for high cost is posing a serious threat in the market. Several containerized solar generators are climate dependent systems, these have resulted in the decline in the product demand of the market.
Why Does North America Hold a Lion’s Share in the Market?
The global containerized solar generators market on the basis of geography is segregated into Asia Pacific, South America, Middle East and Africa, and North America. Asia Pacific holds the major share in terms of growth rate due to the increasing awareness for clean energy. Investment by government is attributing in developing the regional renewable energy. The North America on other hand, dominates the market in terms of revenue generated due to the rapid shift from fuels derived energy to solar power. North America is anticipated to earn a revenue of US$107.9 mn during the assessed period.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
The content & opinions in this article are the author’s and do not necessarily represent the views of AltEnergyMag
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