PORTLAND, Oregon., January 13, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Industrial Solar Generator Market by type (less than 40 KWH, 40-80 KWH, 80-150 KWH and more than 150 KWH) Application (power industry, oil and gas industry and others): global opportunity analysis and industry forecast, 2021-2030 . » According to the report published by Allied Market Research, the global industrial solar generator market was estimated at $195.2 million in 2020 and is expected to reach $907.0 million by 2030, registering a CAGR of 16.9% from 2021 to 2030.
Drivers, constraints and opportunities –
Rising demand for sustainably generated electricity is driving the growth of the global industrial solar generator market. On the other hand, the availability of alternative energy sources hinders growth to some extent. However, the emergence of government policies on renewable resources by offering tax breaks and incentives should pave the way for lucrative opportunities in the future.
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- Huge disruptions in the supply chain led to a major slowdown in the production of industrial solar generators, which negatively impacted the market, especially during the initial phase.
- However, as the global situation improves, the market should recover soon.
The 80-150 KWH segment to take the lion’s share
Based on type, the 80-150 KWH segment held the major share in 2020, attracting more than one-fifth of the global industrial solar generator market, owing to the increasing use of high-capacity solar generators in different industries. The 40-80 KWH segment, on the other hand, is expected to quote the fastest CAGR of 18.0% throughout the forecast period.
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Oil and Gas Industry Segment to Dominate by 2030-
Based on demand, the oil and gas segment contributed the lion’s share in 2020, holding almost half of the global industrial solar generator market, owing to the growing awareness of renewable energy. However, the electrical industry segment is expected to show the fastest CAGR of 18.2% from 2021 to 2030.
Asia Pacific, followed by Europe and North America, held most of it in 2020-
By region, Asia Pacific, followed by Europe and North America, dominated in 2020, gathering about two-fifths of the global industrial solar generator market. The same region should also cite fastest CAGR by 18.3% throughout the forecast period, due to the growing awareness of renewable energy in China, India, and other Asia Pacific countries.
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Key Industry Players-
- Intech Clean Energy
- Limited alternation
- REC Solar
- Goal Zero LLC
- Jackson Group
- Kirchner Solar
- Solar Hollandia
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