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A report on Residential Solar Energy Market was added by Kenneth Research which covers the market size and growth over a span of 9 years, i.e., over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Residential Solar Energy Market Products.
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As per the statistics recorded by the U.S. Energy Information Administration, the investments in solar PV and wind energy increased by about 15% from 2010 to 2018 in the United States. This increased expenditure in the industry is predicted to be observed as a result of rising corporate procurement in the region and in this sector.
With regards to the Residential Solar Energy Systems, The Solar PV Cells (Photovoltaic Cells) are made of light sensitive semiconductor materials that utilize the photons to dislodge electrons to drive an electric current. Most Solar PV systems are mounted on the buildings or on the ground. For buildings, the mountings occurs in rooftops or else integrated into the building itself. These Cells are nothing but inverters which initially converts the direct current (collected when exposed to sunlight) into alternating current electricity. The Residential Solar Energy Market is forecasted to reach USD XXX million at the offset of 2022, growing at a CAGR of approximately XX% from 2017 to 2022.
Market Dynamics
There remain many factors acting as the driving and constraining force for the market.
Driving factors:
– More emphasis on Green Energy
– Increase in demand for solar panel installations
– Fluctuating raw material(Silver) prices
– Decline in prices of solar panels
Constraint factors:
– No fixed estimation regarding climatic conditions
– Limited production and reliability
– High Competition
Market Segmentation
The Global Residential Solar Energy Marke t is segmented on the basis of the product type, the type of technology, Generation type and applications.
– Segmentation based on product type includes Mono-crystalline Silicon Cells, Cadmium Telluride, Amorphous Silicon Cells, Polycrystalline Silicon cells and others.
– Segmentation based on the type of technology includes Photovoltaic Cells, Inorganic, Organic, Concentrated Solar power systems, Parabolic Troughs, Solar Tower and others.
– Segmentation based on Generation includes the three generations – First, Second and Third.
– Segmentation based on Application includes Agriculture & Horticulture, Architecture, Transportation and others.
Regional/Geographic Analysis
The Residential Solar Energy Market is segmented into various regions which mainly comprises of North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Rising economies like China and Japan are expected to be the most significant solar based systems production, keeping in view the merger and acquisitions of local manufacturers and government based tariffs.
Opportunities
Considering the increase in pollution level as well as the government taxes, the need for cheap and durable panels is promising. Along with this the decrease in water footprints related to solar energy based systems has resulted in their rocketed step-up in terms of demand. The contributing factor for a major uplift of these storage systems pertains to the already existing familiar solar panels market. In the coming future, the installations of solar towers as well as rooftop installations is projected to impart effective demand in the solar energy market.
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Key Players
Some of the major players in the market include:
– ZEN Energy
– GESS
– Sharp Electronics
– SENEC
– BYD
– Tesla
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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About Kenneth Research:
Kenneth Research is a multi-client market research database that aims at providing reports that help industry professionals including various individuals and organizations to identify the market trends and scope, thereby making it easier for them to take decisions and form strategies after complete assessment of the market. The various industries catered by the company include healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence and several others. Being a global market research reselling firm, Kenneth Research provides strategic business consultancy services at a global level and offers a single platform for the best market research reports.
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George Benson
George Benson is an energetic and versatile freelance writer for 5 years, he pens down any type of article and web content. He is a Cambridge University Business English Certificate (Europe Level) holder. He is analytical, enthusiastic, and ingenious, with the essence to work variously, and strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily possesses.
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