Report ID: SQMIG55F2040
Report ID:
SQMIG55F2040 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
77
With a 35.8% market share in 2021, the Asia Pacific region is predicted to develop at the quickest rate during the forecast period, with China accounting for the majority of revenue share. Over the projected period, the expanding number of business offices and the widening energy demand-supply gap in developing nations are both anticipated to drive regional market expansion. Lowered solar PV manufacturing costs and enhanced R&D for developing solar charge controller technology were the results of significant investments in the Chinese solar industry.
Over the course of the forecast, North America is expected to grow at a CAGR of 15.9%. In the coming years, the U.S. is expected to experience significant growth within the region as a result of its booming solar industry. Rising clean energy goal policy implementation is anticipated to increase demand for solar energy, directly supporting regional market growth during the forecast period. Clean energy target policies are intended to reduce greenhouse gas emissions.
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Report ID: SQMIG55F2040