Zion Market Research Global Solar Power Market, 2016–2024 | Page 4

Solar Power Market
Global Solar Power Market: Regional Analysis
Asia Pacific contributed for the largest market chunk owing to rapid urbanization and strong
economic growth. Latin America also expects to fuel the demand for the solar power over the next
few years. Concentrated solar power is gaining wide acceptance as emerging leading technology and
is implemented in the several pipeline projects in Latin America. It is also extensively used niche
market which includes Brazil, China, Canada, India, and France. Diminishing resources of the fossil
fuel compel the governments and energy agencies to shift towards alternative sources of energy thus
fueling the demand in the North American market. Government and power companies initiated to
provide subsidy on solar power energy generation in the regions such as Canada and Germany thus
expecting to provide immense opportunities for companies in the future. Increasing urbanization in
the Russia and UAE is expected to witness strong demand for the solar power market in the next few
years.
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power-market