Solar farms market is anticipated to grow at a CAGR of 14.5% during the forecast period (2024-2031). The market growth is driven by the rising investment in solar energy production, increasing government efforts for energy diversification. The declining cost of solar electricity generation infrastructure by substantial government support through policies, subsidies, and schemes, and global emission reduction targets are other contributors to the global market growth.

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In recent years, the global energy production and supply market has recorded a shifting trend toward the adoption of renewable energy sources for energy production including hydro, wind, and solar. The carbon footprint reduction targets of major countries, the high rate of adoption of solar energy by fossil fuel-dependent countries, and the reduction in prices of renewable energy infrastructure are driving the demand for solar farms. For instance, as per the International Energy Agency, Solar PV generation increased by a record 270 TWh (up 26.0%) in 2022, reaching almost 1,300 TWh. It demonstrated the largest absolute generation growth of all renewable technologies in 2022, surpassing wind for the first time in history. This generation growth rate matches the level envisaged from 2023 to 2030 in the Net Zero Emissions by 2050 Scenario. Continuous growth in the economic attractiveness of PV, massive development in the supply chain, and increasing policy support, especially in China, the US, the European Union, and India, are expected to further accelerate capacity growth in the future.

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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Market Segmentation

Global Solar Farms Market by Type

Utility-Scale
Community Scale
Distributed Generation
Microgrids
Others (Agrovoltaic Systems, Floating Solar Farms)

Global Solar Farms Market by End-User

Residential
Commercial
Industrial

Regional Analysis

North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
Middle East and Africa

Company Profiles 

Cypress Creek Renewables, LLC
Enel Green Power S.p.A.
First Solar, Inc.
GruppoSTG
Iberdrola, S.A.
ib vogt GmbH
Invenergy LLC
Ja Solar Holdings Co. Ltd
JinkoSolar Holding Co., Ltd.
Sharp Corp.
Shenzhen Topray Solar Co., Ltd.
SunPower Corp.
Tata Power Solar Systems Ltd
Trina Solar
TotalEnergies SE

The Report Covers 

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global solar farms market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.

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