Containerized Solar Generators Market is expected to reach US$570.9 mn by the end of 2025, expanding at a CAGR of 7.3% during the forecast period between 2017 and 2025
Albany, NY -- (SBWIRE) -- 11/06/2017 -- The presence of several players renders a high degree of fragmentation and intense competitive rivalry amongst market players in the global containerized solar generators market, observes Transparency Market Research (TMR) in a new report. The report mentions Silicon CPV plc., HCI Energy LLC, PWR Station, Energy Solutions Inc., Ecosphere Technologies Inc., Photon Energy NV, Juwi AG, AMERESCO Inc., Jakson Group, REC Solar Holdings AS, Energy Made Clean, MOBILE SOLAR, Kirchner Solar Group, Intech Clean Energy Pty Ltd, Off Grid Energy Limited, and Renovagen Ltd to have prominent presence in the worldwide market for containerized solar generators.
Key players in the global containerized solar generators market are pouring money into research and development to enhance the quality of existing products and for product innovation as well. This is to ensure sustainable business and to strengthen their customer base and position in this competitive market.
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"Considering the advantages of uninterrupted power supply and the ease to be incorporated into the grid, the uptake of containerized solar generators is poised to be on the rise," said a lead TMR analyst. Driven by this and few other factors, the global containerized solar generators market is forecast to reach US$570.9 mn by the end of 2025, expanding at a CAGR of 7.3% during the forecast period between 2017 and 2025.
Asia Pacific is anticipated to display a considerable growth rate and account or significant revenue contribution to the overall market by 2025. Off-grid product segment holds the leading revenue over grid-connected product segment in the containerized solar generators market. The commercial application segment is expected to account for significant contribution to the overall market on the back of increasing energy costs and rising awareness about solar energy solutions.
Environmental Benefits of Renewable Source Produced Power Boost Uptake
The key growth drivers of the global containerized solar generators market include increasing cost of electricity produced by fossil fuels and dropping rate of solar power. Energy producing companies worldwide are switching from exhaustible energy resources to renewable resources for power generation. Apart from this, energy produced through containerized solar generators is gaining traction due to its non-polluting feature. This is attracting the attention of energy companies to connect containerized solar generators to the main power grid.
Government initiatives and investments for development of the renewable energy sector in countries such as India, China, Japan, and other South East Asian countries is leading to the increasing demand for solar energy. The increasing awareness among consumers for environment sustainability is leading to the adoption of clean fuels, of which solar energy is prominent.
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Moreover, solar and renewable energy organizations are focusing on remodeling their services so as to provide efficient and quality services. This factor is expected to drive the containerized solar generators market over the forecast period.
Easy Portability and Reliability Features of Containerized Solar Generators Favorable for Several Applications
The compactness and scalable feature of containerized solar generator along with its dependability for continuous power even in bad atmospheres is boosting the adoption of these devices. Containerized solar generators can be easily incorporated with grid supply that serves as a reliable hybrid solution for power needs. Containerized solar generators offer advantages of portability, durability, and safety and environmental compliance leading to their increasing adoption. These factors account for the increasing adoption of containerized solar generators across commercial, residential, industrial, and government applications.