Energia
Industrial Solar Generator Market to Reach $907.0 Mn, Globally, by 2030 at 16.9% CAGR: Allied Market Research
Increasing demand for sustainably generated electricity drives the growth of the global industrial solar generator market. On the other hand, availability of alternative energy sources impedes the growth to some extent. However, emergence of government policies on renewable resources by providing tax relaxations and incentives is anticipated to pave the way for lucrative opportunities in the future.
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On the basis of type, the 80-150 KWH segment held the major share in 2020, garnering more than one-fifth of the global industrial solar generator market, owing to increasing usage of high capacity solar generators in different industries. The 40-80 KWH segment, on the other hand, is projected to cite the fastest CAGR of 18.0% throughout the forecast period.
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On the basis of application, the oil and gas segment contributed to the lion's share in 2020, holding nearly half of the global industrial solar generator market, due to increasing awareness about renewable energy. However, the electrical industry segment is projected to manifest the fastest CAGR of 18.2% from 2021 to 2030.
By region, Asia-Pacific , followed by Europe and North America , dominated in 2020, garnering around two-fifths of the global industrial solar generator market. The same region is also expected to cite of 18.3% throughout the forecast period, owing to growing awareness about renewable energy in China , India , and other Asia-Pacific countries.
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