The global industrial solar generator market size value was US$ 195 million in 2020. The global industrial solar generator market is forecast to reach US$ 904 million by 2030, and the market will grow at a compound annual growth rate (CAGR) of 16.5% during the forecast period from 2021-2030.

Solar generators are devices that are used with solar panels, provide automatic backup power to industries during times of difficulty, such as during power outages. A mobile or fixed installation is available with inbuilt storage batteries that store surplus power, which is used during non-sunlit hours. Solar generators are also portable but do not include moving parts.

These systems consist of an inverter, solar panels, a solar panel battery, and a battery charger. A solar generator collects energy from the sun and stores it in its battery. The inverter then converts that DC energy into AC power before releasing it. The energy released can then be used by various industrial appliances and electronic devices when they are needed, such as during a power outage.

Factors Influencing the Market Growth

One of the primary factors driving the market growth is the increasing electricity shortage across the globe and the consequent demand for power backup.
The cost of solar generators is low. They require little investment and fuel. They generate zero pollution, and they are reusable. Due to these factors, they are increasingly being used worldwide for power production and distribution.
Global concerns about climate change have influenced the market, increasing awareness about renewable energy sources like solar, hydro, and wind. As a result, various governments are providing tax breaks and incentives to encourage investments in renewable resources. Through these initiatives, solar generator prices have decreased, thereby boosting sales. Thus, increasing the growth of the market.
There are potentially more cost-effective alternatives available, such as battery power packs and inverter technology, which is likely to slow the market's growth.
Impact Analysis of COVID-19

Several countries globally have been infected with COVID-19, and the World Health Organization has declared it a public health emergency.
The electrical industry, oil and gas industry, and some other industries use industrial solar generators.
There have been economic declines in many countries due to the suspension of several industries, especially the transport and supply chain. Due to the lockdown, there is no development for the product, which hinders demand.
During the COVID-19 pandemic, the demand-supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the industry's growth.
A scarcity of resources in various parts of the world has negatively affected manufacturing and industry due to the COVID-19 epidemic. Players in the market are reevaluating their strategies in response to the market's prospects. It can slowly fuel the global industrial solar generator market.
Regional Insight

The Asia-Pacific market accounts for the largest market share, followed by LAMEA and Europe during the forecast period. It is due to lower panel prices and increased government incentives for solar generator installations.

Leading Competitors

The leading prominent companies profiled in the global industrial solar generator market are:

Altern Limited
Ameresco Engineering services company
Goal Zero LLC
Hollandia Solar
Intech Clean Energy
Jakson Group
Kirchner Solar
Renewable Energy Corporation
The Juwi Holding AG
Other Prominent Players
Scope of the Report

The global industrial solar generator market segmentation focuses on Type, Application, and Region.

Segmentation based on Type

Below 30 KWH
40-70 KWH
80-140 KWH
Over 150 KWH
Segmentation based on Application

Electrical Industry
Oil and Gast Industry
Others
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America