Top Companies in Solar Energy System Market | Industry Major Players/Top Companies Forecast Research Report 2022-2028 | Vantage Market Research
Solar energy is the radiant energy that the sun emits; it is captured using various methods, including photovoltaic cells, solar heating, and others.
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Market Overview:
The Global Solar Energy System Market was valued at USD 85.1 Billion in the year 2021 and is forecast to reach a value of USD 255.3 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 20.1% over the forecast period.
Solar energy is one of the most reliable and cleanest energy sources. It has proven to be a viable alternative to fossil fuels currently polluting the environment and contributing to global warming. Solar energy is produced by various techniques such as photovoltaic power generation, solar heat, concentrating solar heat (electricity), and condensing PV. The main factors driving growth in the overall solar energy market are related to unpredictable fossil fuel prices, the need to reduce dependence on fossil fuel imports from politically unstable regions, to reduce the use of coal as a raw material, environmental issues related to greenhouse gas emissions, and government incentives, among others. In the PV market, many governments have set clean energy targets and are trying to achieve them by switching to renewable energy sources such as solar. For example, European countries place the most emphasis on PV and CSP technology –countries such as Germany, Italy, and the Czech Republic have seen a significant increase in PV installations.
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Some of the key players operating in the Solar Energy System Market are listed below:
|
Company Name |
Revenue in the US |
|
$5 Billion |
|
$3 Billion |
|
$3 Billion |
|
$26 Million |
|
$4 Billion |
|
$1 Billion |
|
$2 Billion |
|
$1 Billion |
Jinko Solar Co., Ltd. is one of the world's most well-known and innovative solar technology companies. Its operations span the entire photovoltaic industry value chain, focusing on the research and development of integrated photovoltaic products and integrated clean energy solutions. Jinko Solar's products currently serve over 3,000 customers in over 160 countries worldwide, and the company has long been ranked first in global module shipments. Jinko Solar's cumulative module shipments will have surpassed 100GW by the end of March 2022. In addition, Jinko Solar is an industry thought leader in several international frameworks, including the B20, and it is the first solar energy company to join the RE100 green initiative.
JA Solar Holdings is a solar development company established in Yangpu District, Shanghai. They design, develop, manufacture, and sell solar cells and solar cell module products and are based in the People's Republic of China. We also manufacture and sell single crystal and polycrystalline solar cells. The company sells its products to solar panel manufacturers primarily through a team of sales and marketing experts. Solar panel makers assemble solar cells into modules and systems that convert sunlight into electricity. We also manufacture a variety of standard and specialty solar panels.
Headquartered in Jiangsu, Changzhou, founded in 1997, Trina Solar Co., Ltd manufactures, sells, researches, and develops PV products, EPCs. O & Ms. The company also develops and markets intelligent microgrid and multi-energy supplement systems and energy cloud platform operations.
Founded in 2000, LONGi is the world's leading solar technology organization. The company has a long and unwavering commitment to single crystal technology and correctly believes that its mainstream adoption will bring significant technological changes to the entire PV industry. With 15 production bases and more than 30 branches worldwide, LONGi manufactures single crystal silicon wafers and modules, provides solutions for distributed and ground-based power plant systems, develops the global PV industry, and promotes energy transformation.
Headquartered in Guelph, Ontario, Canada, Canadian Solar is a global energy company with successful operations in 20 countries and territories on six continents. Canadian Solar is a leading manufacturer of PV solar modules and a provider of solar energy solutions with more than 14,000 employees worldwide. With state-of-the-art manufacturing facilities in Canada, China, Brazil, and Southeast Asia, Canadian Solar has module manufacturing capabilities. Over the past two decades, it has shipped over 55GW of high-quality solar modules to customers across 155 countries.
SunPower Corporation is a clean energy and backup storage company based in San Jose, California. SunPower develops all-in-one residential solar and storage solutions with personalized customer service. Solar energy products such as panels, batteries, mounting hardware, and monitoring software are sold and installed by the company. SunPower Corporation provides high-performance photovoltaic (PV) systems worldwide to residential, commercial, and utility customers.
First Solar, Inc. is a US solar module manufacturer and provider of practical PV power plants, providing support services including financing, construction, maintenance, and recycling of used modules. In addition, the first solar manufacturer, CdTe modules, used complex thin-film modules for solar modules and cadmium telluride as semiconductors.
Hanwha Q CELLS is one of the world's largest and most recognized solar panel manufacturers for high-quality, high-efficiency solar cells and modules. Their product line includes single-crystal and polycrystalline PV modules as value-based, high-quality options for residential, commercial, and utility applications. Hanwha Q Cells develops silicon blocks, wafers, PV cells, and finished modules on-site. In addition, they have several state-of-the-art research centers focused on product development and maintaining state-of-the-art technology, quality, and sustainability.
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