Product ID: SQMIG10B2061
Report ID:
SQMIG10B2061 |
Region:
Global |
Published Date: April, 2024
Pages:
178
|
Tables:
65 |
Figures:
75
In 2022, Asia Pacific region dominated the global renewable energy market accounting for over 40.40% of the total revenue. This growth can be attributed to the increasing adoption of solar power projects in China and India, which are among the largest markets for solar panels worldwide. Other countries in the region, such as Australia and Japan, also offer significant growth potential due to their substantial investments in solar power generation in recent years.
North American market is expected to experience substantial growth during the forecast period. The industrial sector has witnessed a surge in power generation from solar cells, owing to the availability of more efficient solar cells and intensified competition in the industry. This has resulted in a reduction in the cost of electricity production and an increase in the variety of solar panels available, driving the demand for renewable energy in the region. Increasing concerns about greenhouse gas emissions, the cost of electricity generation, and regulations aimed at reducing carbon footprints are expected to drive the growth of the renewable energy market during the forecast period.
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Product ID: SQMIG10B2061