Solar Generator Market to Reach US$ 555.5 Billion by 2024- IMARC Group

Global Solar Generator Market Research Report and Forecast

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Global Solar Generator Market Overview: According to the latest market research report by IMARC Group, titled “Solar Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global solar generator market reached a value of US$ 391.5 Billion in 2018. Solar generators refer to photovoltaic (PV) systems that produce electricity by converting the photonic energy form sunlight into electricity. They are available in different sizes and capacities, and offer numerous benefits including zero pollution generation and minimal fuel requirement for zero pollution generation and minimal fuel requirement for operations. Apart from this, they help to store energy for future purpose and reduce the usage of non-renewable resources like fossil fuels. These advantages, coupled with the economic nature of solar generators, have resulted in the increasing demand for these systems around the world.

Solar Generator Market Trends A solar generator help in sustainable electricity production, the governments in numerous countries are undertaking initiatives to expand their application in both the residential and industrial sectors.

Moreover, these has been significant increase in the per capita consumption of, especially in developing economies.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

in Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Apart from this, manufactures are investing in research and development activities to introduce new technologies which provide more convenience to consumers. They have also launched portable solar generators that are widely used in automobiles and other rechargeable electronic devices. By 2024, the global solar generator market size is projected to reach US$ 555.5 Billion, expanding at a CAGR of 6% during 2019-2024.

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This has given a boost to the demand for power backup solutions like solar generators in these countries.

Key Market Segmentation: Market Segmentation by Grid Connectivity • •

Off-Grid On-Grid

Based on the grid connectivity, the market has been bifurcated into off-grid and on-grid solar generators. Currently, off-grid solar generators dominate the market, holding the largest share as they are relatively more portable which helps the user at the time of and energy or power outage.

Market Segmentation By End-User • • •

Residential Commercial Industrial

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Military

On the basis of the end user, the market has been classified into residential, commercial industrial and military sectors. At present, the residential sector accounts for the majority of the total market share.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Afica

Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America is the biggest market, holding the majority of the global share.

Competitive Landscape:

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The competitive landscape of the market has also been examined with some of the key players.

• • • • • • • • • • •

Goal Zero Hollandia Altern Jaspak Sunvis Solar Biolite Powerenz SolMan SolaRover SolarLine Voltaic

For more information, click here: https://www.imarcgroup.com/solar-generator-market

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Clients world's leading corporates, governments, and ourPartial ClientsList of institutions

A partial List of

We are the trusted business partners to the

of Clients leading corporates, governments, and ourPartial ClientsListworld's institutions

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