With Industry Research Report 2020 To 2028:
On the back of growing population and economic development around the world combined with rising energy demand among residential, commercial and public services, and transport sector, the global DG Ground-mounted Solar PV market is estimated to witness exuberant growth over the forecast period, i.e., 2020-2028. According to IEA (International Energy Agency), the worldwide energy demand grew by 4% (900TWh) in 2018. In the same year, the estimation of total electricity production across the globe was attained through coal and natural gas, with coal contributing to 25.6% and natural gas with 27.9% of the total production. Additionally, there is a rising demand for clean, sustainable and eco-friendly energy generation due to increased concerns pertaining to rise in CO2 emissions from energy generation.
With the rapid growth of industrial and residential sector and increase in demand for heating and cooling from among the global population due to climate change, heavy demand for electricity has arisen from across almost every region in the world which is estimated to increase the demand for energy and contribute to the growth of the market over the forecast period (2019-2028). International Energy Agency (IEA) had stated in its report that the average growth rate of energy consumed globally grew by 2.3% in 2018 and had almost doubled since 2010. It also states that the worldwide energy demand grew by 4% (900 TWh) in 2018. Industrial segment consumed highest amount of energy of about 8945 TWh in 2017 as compared to 8699 TWh in 2016. Additionally, residential sector consumed about 5775 TWh in 2017 as compared to 5680 TWh of energy in the year 2016. Moreover, CO2 emissions arising from production of energy had registered an increase of 1.7% with emission levels of CO2 reaching 33 Gigatons.
Some of the global players in this DG Ground-mounted Solar PV Market are:
- Jinko Solar
- JA Solar
- Trina Solar
- Canadian Solar
Several sectors have witnessed high levels of energy consumption globally, with the industrial segment consuming the highest of about 8945 TWh in the year 2017 as compared to 8699 TWh of energy consumed in 2016.). Moreover, International Energy Agency (IEA) had also mentioned in its report that in 2018, the average growth rate of energy consumption had almost doubled since 2010 and grew by 2.3% in 2018. Additionally, CO2 emission levels arising from production of energy had recorded an increase of 1.7% reaching about 33 Gigatons. Many governments across the world have introduced stringent policies and regulations for reducing carbon emissions that is destroying the environment.