Market Size of China Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Solar Energy Market Analysis
The Chinese solar energy market is expected to record a CAGR of more than 15% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.
- Over the medium term, factors such as rising investment and increasing government policies for providing financial incentives and subsidies drive demand for the solar energy market.
- On the other hand, the solar power sector faces challenges from alternate sources of clean power generation, mainly natural gas, and wind power. It is restraining demand for the Chinese solar energy market.
- Nevertheless, capital costs are predicted to stabilize at lower levels with advances in technology, improvements in the solar photovoltaic market, and an increase in the supply of panels in China. As a result, it is anticipated that investors and developers will pay close attention to the commercial feasibility of solar projects, which will soon present chances for the solar energy market in China.
