Solar Farm Market to Hit $261 Billion by 2027 | Driven by Clean Energy Demand

🚀 Global Solar Farm Market Set to Grow at 19.8% CAGR | Major Growth in Asia-Pacific & Europe

WILMINGTON, DE, UNITED STATES, July 1, 2025 /EINPresswire.com/ -- The global solar farm market is poised for massive growth, projected to reach $261.0 billion by 2027, up from $61.4 billion in 2019, growing at a CAGR of 19.8% from 2020 to 2027. Solar farms, which utilize photovoltaic (PV) panels or solar thermal systems, are emerging as a critical solution to global energy needs and climate change mitigation.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/10607

🧾 Report Summary: Key Takeaways

📈 Market Growth: Solar farm market to grow from $61.4B in 2019 to $261.0B by 2027 at a CAGR of 19.8%.

🌍 Asia-Pacific Dominance: Region to lead global market growth, driven by rural electrification and energy demand.

⚡ Utility-Scale Leads: Largest market share due to high capacity and grid integration advantages.

🏭 Commercial Segment Boom: Businesses adopting solar farms to lower energy bills and meet ESG goals.

💰 Government Support: Incentive programs and clean energy mandates fueling solar adoption globally.

🌍 Key Drivers Fueling Market Growth

Governments and corporations are increasingly investing in solar infrastructure due to its sustainable and cost-effective nature. The rise in global warming concerns, need for renewable electricity generation, and push for carbon emission reductions are major forces propelling the market forward.

🌞 Incentive programs, such as tax rebates and subsidies for solar installations, are also encouraging commercial and industrial entities to invest in solar farms.

🌐 Regional Insights: Asia-Pacific Leads with Robust Growth

📈 Asia-Pacific was the top revenue generator in 2019 and is projected to maintain momentum with a CAGR of 19.5%. Countries like China and India are adopting solar farms rapidly under government initiatives like India’s Akshay Urja program to electrify rural areas.

🌍 Europe, driven by strong policy support, is forecasted to grow at the highest CAGR of 21.1%. Meanwhile, the U.S. and Mexico collectively held over 91.2% of the North American market in 2019.

Buy This Report (284 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3IZunDp

⚙️ Market Segmentation: Utility-Scale Projects Dominate

The market is segmented by type, application, and region. Among the types:

Utility-scale solar farms dominate the market due to their ability to generate large amounts of energy sold through Power Purchase Agreements (PPAs).

The distributed generation segment is expected to grow at a CAGR of 20.3%, supported by increasing rooftop installations and decentralized energy systems.

🏢 The commercial segment is expected to register significant growth, also at a CAGR of 20.3%, as businesses aim to cut energy costs and improve sustainability.

🔌 Industry Trends & Technological Advancements

🌱 Urbanization and the growth of construction activities have triggered a demand-supply gap in electricity, creating opportunities for solar farms.

🏢 Commercial buildings such as malls, airports, and corporate offices are turning to solar farms to reduce grid dependence and carbon footprints.

💡 Technological innovation, including solar + battery storage integration, is driving interest in solar farms as a reliable power source.

🔋 Advancements in solar energy storage are helping overcome intermittency issues and enhancing solar farm viability.

🚧 Challenges and Opportunities

Despite promising growth, the high initial setup cost of solar farms remains a hurdle. Solar farms also require vast land, which might be a constraint in densely populated areas.

The COVID-19 pandemic disrupted supply chains and labor availability, particularly affecting the solar industry’s logistics and manufacturing sectors. However, the industry is rebounding with renewed focus on clean energy transition.

👥 Key Market Players

The market is highly competitive with key players including:

Trina Solar

First Solar, Inc.

TATA Power Solar Systems

Sharp Corporation

BrightSource Energy

JA Solar Holdings

Shenzhen Topray Solar Co.

These companies are focused on expanding production capacity and technological innovation to gain a competitive edge.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A10242

🌟 Future Outlook

As climate change intensifies and energy security becomes a global priority, solar farms are expected to play a central role in the transition toward clean, renewable power sources. With favorable government policies, technological enhancements, and rising energy demand, the global solar farm market is set to witness unprecedented growth in the coming years.

Trending Reports in Energy and Power Industry:

Solar Energy Market

https://www.alliedmarketresearch.com/solar-energy-market

Solar Farm Market

https://www.alliedmarketresearch.com/solar-farm-market-A10242

Solar PV Module Market

https://www.alliedmarketresearch.com/solar-pv-module-market-A11702

Solar Panel Recycling Market

https://www.alliedmarketresearch.com/solar-panel-recycling-market-A14237

Solar EPC Market

https://www.alliedmarketresearch.com/solar-epc-market-A325109

Perovskite Solar Cell Market

https://www.alliedmarketresearch.com/perovskite-solar-cell-market-A13745

Airport Solar Power Market

https://www.alliedmarketresearch.com/airport-solar-power-market

Solar Photovoltaic Glass Market

https://www.alliedmarketresearch.com/solar-photovoltaic-glass-market

Rooftop Solar PV Market

https://www.alliedmarketresearch.com/rooftop-solar-pv-market-A124759

Photovoltaic Market

https://www.alliedmarketresearch.com/photovoltaic-market

Renewable Energy Certificates Market

https://www.alliedmarketresearch.com/renewable-energy-certificates-market

Renewable Energy Market

https://www.alliedmarketresearch.com/renewable-energy-market

Distributed Energy Generation Market

https://www.alliedmarketresearch.com/distributed-energy-generation-market-A13784

U.S. Clean Energy Market

https://www.alliedmarketresearch.com/us-clean-energy-market-A325461

Clean Energy Infrastructure Market

https://www.alliedmarketresearch.com/clean-energy-infrastructure-market-A323711

AI in Energy Market

https://www.alliedmarketresearch.com/ai-in-energy-market-A12587

Clean Energy Market

https://www.alliedmarketresearch.com/clean-energy-market-A43785

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+ 1800-792-5285
email us here
Visit us on social media:
LinkedIn
Facebook
YouTube
X