The Latin America, Middle East and Africa Solar Power Equipment Market would witness market growth of 14.0% CAGR during the forecast period (2021-2027).
Solar is a significant financial investment, but it takes time to achieve the break-even threshold that companies claim. The average payback period for solar panels is about seven and a half years. Solar panels are considered renovations, thus investing in solar energy systems can also certainly raise the value of a residency. In addition, according to a study by Lawrence Berkeley National Laboratory, the organization found that solar systems enhanced the value of a property by roughly $15,000 on average. Solar homes can be sold for more amount than homes without PV, despite market considerations such as power costs and system size influencing the extent of the premium.
The ultimate advantage of solar energy is that it reduces the consumer's reliance on utility-provided electricity, resulting in significant savings. However, that condition requires that a homeowner's electric bills are substantial, to begin with.
According to the data quoted by UAE government, in 2013, the UAE was ranked 3rd across the world for concentrated solar power generation. In 2014, the UAE generated approximately 140 MW of solar energy. The government predicted that meeting its renewable energy objective would save between USD 1 billion and USD 3.7 billion, but now believes that the savings might be much higher given the changing prognosis for fossil fuel and renewable energy prices.
Moreover, in Abu Dhabi, the UAE is constructing the world's largest solar power facility. This facility would diversify Abu Dhabi's energy industry, enhancing Abu Dhabi's entire solar power output and supporting a better environment through lower CO2 emissions. By the year 2022, the plant would be completely operational. The new plant can reduce CO2 emissions by over 2.4 million metric tonnes per year, the equivalent of eliminating 470,000 cars from the road. It serves around 160,000 households in the United Arab Emirates with power. It offers one of the most cost-effective solar energy prices in the region, at AED 4.97 fils per kilowatt-hour. Abu Dhabi's solar power capacity will be increased to around 3.2 gigawatts.
The Brazil market dominated the LAMEA Solar Power Equipment Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4,004.4 Million by 2027. The Argentina market is estimated to grow at a CAGR of 14.6% during (2021 - 2027). Additionally, The UAE market would experience CAGR of 13.7% during (2021 - 2027).
Based on Equipment, the market is segmented into Solar Panels, Mounting, Racking, & Tracking System, and Storage System, and Others. Based on Application, the market is segmented into Utility, Residential, and Non-Residential. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Solar Power Equipment Market is Predict to reach $202.4 Billion by 2027, at a CAGR of 11.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Canadian Solar Inc., First Solar, Inc., Hanwha Q CELLS Co., Ltd., LONGi Green Energy Technology Co., Ltd., SunPower Corporation, Shunfeng International Clean Energy Co., Ltd., Jinko Solar Holding Co., Ltd., Trina Solar Co., Ltd., JA Solar Holdings Co., Ltd., and ABB Group.
Scope of the Study
Market Segments Covered in the Report:
By Equipment
- Solar Panels
- Mounting, Racking, & Tracking System
- Storage System
- Others
By Application
- Utility
- Residential
- Non-Residential
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Canadian Solar Inc.
- First Solar, Inc.
- Hanwha Q CELLS Co., Ltd.
- LONGi Green Energy Technology Co., Ltd.
- SunPower Corporation
- Shunfeng International Clean Energy Co., Ltd.
- Jinko Solar Holding Co., Ltd.
- Trina Solar Co., Ltd.
- JA Solar Holdings Co., Ltd.
- ABB Group
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Solar Power Equipment Market, by Equipment
1.4.2 LAMEA Solar Power Equipment Market, by Application
1.4.3 LAMEA Solar Power Equipment Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Business Expansions
3.2.5 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2020, Feb – 2022, Feb) Leading Players
Chapter 4. LAMEA Solar Power Equipment Market by Equipment
4.1 LAMEA Solar Panels Market by Country
4.2 LAMEA Mounting, Racking, & Tracking System Market by Country
4.3 LAMEA Storage System Market by Country
4.4 LAMEA Others Market by Country
Chapter 5. LAMEA Solar Power Equipment Market by Application
5.1 LAMEA Utility Market by Country
5.2 LAMEA Residential Market by Country
5.3 LAMEA Non-Residential Market by Country
Chapter 6. LAMEA Solar Power Equipment Market by Country
6.1 Brazil Solar Power Equipment Market
6.1.1 Brazil Solar Power Equipment Market by Equipment
6.1.2 Brazil Solar Power Equipment Market by Application
6.2 Argentina Solar Power Equipment Market
6.2.1 Argentina Solar Power Equipment Market by Equipment
6.2.2 Argentina Solar Power Equipment Market by Application
6.3 UAE Solar Power Equipment Market
6.3.1 UAE Solar Power Equipment Market by Equipment
6.3.2 UAE Solar Power Equipment Market by Application
6.4 Saudi Arabia Solar Power Equipment Market
6.4.1 Saudi Arabia Solar Power Equipment Market by Equipment
6.4.2 Saudi Arabia Solar Power Equipment Market by Application
6.5 South Africa Solar Power Equipment Market
6.5.1 South Africa Solar Power Equipment Market by Equipment
6.5.2 South Africa Solar Power Equipment Market by Application
6.6 Nigeria Solar Power Equipment Market
6.6.1 Nigeria Solar Power Equipment Market by Equipment
6.6.2 Nigeria Solar Power Equipment Market by Application
6.7 Rest of LAMEA Solar Power Equipment Market
6.7.1 Rest of LAMEA Solar Power Equipment Market by Equipment
6.7.2 Rest of LAMEA Solar Power Equipment Market by Application
Chapter 7. Company Profiles
7.1 Canadian Solar Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.2 First Solar, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.3 Hanwha Q CELLS Co., Ltd. (Hanwha Group)
7.3.1 Company Overview
7.3.2 Recent strategies and developments:
7.3.2.1 Partnerships, Collaborations, and Agreements:
7.3.2.2 Product Launches and Product Expansions:
7.3.2.3 Acquisition and Mergers:
7.4 LONGi Green Energy Technology Co., Ltd.
7.4.1 Company Overview
7.4.2 Recent strategies and developments:
7.4.2.1 Product Launches and Product Expansions:
7.5 SunPower Corporation (Infineon Technologies AG)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.5.5.2 Product Launches and Product Expansions:
7.5.5.3 Acquisition and Mergers:
7.6 Shunfeng International Clean Energy Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.7 Jinko Solar Holding Co., Ltd.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.8 Trina Solar Co., Ltd.
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Product Launches and Product Expansions:
7.8.2.2 Acquisition and Mergers:
7.8.2.3 Business Expansions:
7.9 JA Solar Holdings Co., Ltd.
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Partnerships, Collaborations, and Agreements:
7.9.2.2 Product Launches and Product Expansions:
7.10. ABB Group
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 Recent strategies and developments:
7.10.5.1 Geographical Expansions:
TABLE 1 LAMEA Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 2 LAMEA Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Solar Power Equipment Market
TABLE 4 Product Launches And Product Expansions – Solar Power Equipment Market
TABLE 5 Acquisition and Mergers – Solar Power Equipment Market
TABLE 6 Business Expansions – Solar Power Equipment Market
TABLE 7 Geographical Expansions – Solar Power Equipment Market
TABLE 8 LAMEA Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 9 LAMEA Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 10 LAMEA Solar Panels Market by Country, 2017 - 2020, USD Million
TABLE 11 LAMEA Solar Panels Market by Country, 2021 - 2027, USD Million
TABLE 12 LAMEA Mounting, Racking, & Tracking System Market by Country, 2017 - 2020, USD Million
TABLE 13 LAMEA Mounting, Racking, & Tracking System Market by Country, 2021 - 2027, USD Million
TABLE 14 LAMEA Storage System Market by Country, 2017 - 2020, USD Million
TABLE 15 LAMEA Storage System Market by Country, 2021 - 2027, USD Million
TABLE 16 LAMEA Others Market by Country, 2017 - 2020, USD Million
TABLE 17 LAMEA Others Market by Country, 2021 - 2027, USD Million
TABLE 18 LAMEA Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 19 LAMEA Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 20 LAMEA Utility Market by Country, 2017 - 2020, USD Million
TABLE 21 LAMEA Utility Market by Country, 2021 - 2027, USD Million
TABLE 22 LAMEA Residential Market by Country, 2017 - 2020, USD Million
TABLE 23 LAMEA Residential Market by Country, 2021 - 2027, USD Million
TABLE 24 LAMEA Non-Residential Market by Country, 2017 - 2020, USD Million
TABLE 25 LAMEA Non-Residential Market by Country, 2021 - 2027, USD Million
TABLE 26 LAMEA Solar Power Equipment Market by Country, 2017 - 2020, USD Million
TABLE 27 LAMEA Solar Power Equipment Market by Country, 2021 - 2027, USD Million
TABLE 28 Brazil Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 29 Brazil Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 30 Brazil Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 31 Brazil Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 32 Brazil Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 33 Brazil Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 34 Argentina Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 35 Argentina Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 36 Argentina Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 37 Argentina Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 38 Argentina Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 39 Argentina Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 40 UAE Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 41 UAE Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 42 UAE Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 43 UAE Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 44 UAE Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 45 UAE Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 46 Saudi Arabia Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 47 Saudi Arabia Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 48 Saudi Arabia Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 49 Saudi Arabia Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 50 Saudi Arabia Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 51 Saudi Arabia Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 52 South Africa Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 53 South Africa Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 54 South Africa Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 55 South Africa Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 56 South Africa Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 57 South Africa Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 58 Nigeria Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 59 Nigeria Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 60 Nigeria Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 61 Nigeria Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 62 Nigeria Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 63 Nigeria Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 64 Rest of LAMEA Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 65 Rest of LAMEA Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 66 Rest of LAMEA Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 67 Rest of LAMEA Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 68 Rest of LAMEA Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 69 Rest of LAMEA Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 70 Key Information – Canadian Solar Inc.
TABLE 71 Key Information – First Solar, Inc.
TABLE 72 Key Information – Hanwha Q CELLS Co., Ltd.
TABLE 73 Key Information – LONGi Green Energy Technology Co., Ltd.
TABLE 74 Key Information – SunPower Corporation
TABLE 75 Key Information – Shunfeng International Clean Energy Co., Ltd.
TABLE 76 Key information – Jinko Solar Holding Co., Ltd.
TABLE 77 Key information – Trina Solar Co., Ltd.
TABLE 78 Key information – JA SOLAR Technology Co., Ltd.
TABLE 79 Key Information – ABB Group
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2020, Feb – 2022, Feb) Leading Players
FIG 5 Recent strategies and developments: Hanwha Q CELLS Co., Ltd.
FIG 6 Recent strategies and developments: SunPower Corporation
FIG 7 Recent strategies and developments: Trina Solar Co., Ltd.
FIG 8 Recent strategies and developments: JA Solar Holdings Co., Ltd.