Summary - A new market study, titled “Global Solar Carport Market Research Report 2020”has been featured on WiseGuy Reports.
A wind turbine converter enables efficient conversion of the variable frequency output of an induction generator, driven by a variable speed wind turbine, to a fixed frequency appropriate for the grid or a load. The Solar Carport Market witnessed a decent surge in 2019 as compared to 2018’s decline. The main reason behind the rise can be attributed to large number of projects coming online in 2019. According to Gen Consulting Company, global Solar Carport Market is expected to grow at a CAGR of 1.53% (considered the impact of COVID-19) over the forecast period i.e. 2020-2026. The declining cost of the wind energy and increasing investments in the wind power sector are the key drivers for this market. However, substitution from the solar energy and gas-fired power plants are expected to continue to restrain the market.
The Solar Carport Market is segmented on the basis of product, application, and region. The report offers a breakdown of market shares by product, including Doubly-Fed Converter, Full Converter. By application, the Solar Carport Market is classified into Onshore, Offshore. On the basis of region, the wind turbine converter industry is analyzed across North America, Europe, Asia-Pacific, South America and MEA (the Middle East, and Africa). Asia Pacific is the largest global Solar Carport Market in 2019 with 32,341 MW of installed capacity, followed by Europe and North America. As the world’s largest single Solar Carport Market, China added 26.12 GW of wind power generation capacity in 2019, boosting its total installations to 236 GW. The second largest single market was the US, with 9.1 GW of new onshore installations in 2019. The increase in annual capacity additions is largely being driven by the legislated phaseout of the PTC extension for wind power.
The base year of the study is 2019, and forecasts run up to 2026.
- To analyze and forecast the market size of global Solar Carport Market.
- To classify and forecast global Solar Carport Market based on product, application, and region.
- To identify drivers and challenges for global Solar Carport Market.
- To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in global Solar Carport Market.
- To conduct pricing analysis for global Solar Carport Market.
- To identify and analyze the profile of leading players operating in global Solar Carport Market.
The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Key target audience are:
- Manufacturers of wind turbine converter
- Raw material suppliers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to wind turbine converter
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