Rapid expansion expected for industrial solar generators, reaching $907M by 2030.

By Oliver Townsend Jun 24, 2024
Industrial Solar Generators Set for Rapid Expansion, Forecast to Reach $907 Million by 2030.jpegOrginal image from: https://www.openpr.com/news/3549976/industrial-solar-generators-set-for-rapid-expansion-forecast

Industrial solar generators are on the brink of rapid expansion, with a forecast to reach $907 million by 2030. These generators play a crucial role in providing automatic backup power to industries during power outages, utilizing solar panels and storage batteries to store surplus energy for later use. As the global demand for renewable energy sources increases, industrial solar generators are becoming more popular due to their cost-effectiveness and environmental benefits.

The Growth of the Industrial Solar Generator Market

The global industrial solar generator market size was valued at $195.2 million in 2020 and is expected to grow at a CAGR of 16.9% from 2021 to 2030, reaching $907.0 million. Factors such as urbanization, population growth, and concerns about climate change have led to an increased demand for renewable energy sources like solar power. Governments worldwide are incentivizing investments in renewable resources, further driving the growth of the industrial solar generator market.

Benefits of Industrial Solar Generators

Industrial solar generators offer various benefits, including minimal operating costs, zero pollution, and the ability to store energy for later use. They are being deployed globally to address energy supply-demand imbalances and power shortages, especially in urban areas. Additionally, the availability of tax incentives and government policies promoting renewable resources present opportunities for market growth.

Market Segmentation and Key Players

The industrial solar generator market is segmented based on type, application, and region. Types include below 40 KWH, 40-80 KWH, 80-150 KWH, and over 150 KWH, with the 80-150 KWH segment leading in 2020. Applications range from the electrical industry to oil and gas, with the oil and gas segment dominating in 2020. Major players in the industry include Juwi, Ameresco, REC Solar, and more.

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