Global Airport Solar Power Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Airport Solar Power Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global airport solar power market report has been segmented on the basis of product type and region.

Global Airport Solar Power Market: Overview

Airport solar power is a collection of photovoltaic solar panels, in which solar panels are set up in order to generate electricity and to reduce the emission level. Solar energy systems are being installed in parking structures, roofs of airport terminals, and surrounding area.

Global Airport Solar Power Market: Dynamics

Shifting preference towards renewable sources such as wind, wave, and solar for power generation and increasing investments in renewable energy sources are some of the key factors expected to drive growth of the target market. Furthermore, increasing awareness regarding use of renewable energy sources and availability of land within airports are some other factors expected to drive the global market. In addition, increasing awareness regarding environmental concern, along with focus for reducing/ limiting carbon emissions are expected to complement the industry growth. Moreover, government efforts to lessen the emission level and increasing research & development activities related to technological advancement, which is expected to drive number of installations of solar power systems over the forecast period. Also, World Bank, Ministry of New and Renewable Energy (MNRE) and International Finance Corporation (IFC) and other regulatory authorities are setting targets and introducing polices, schemes, financial support, subsidies, as well as programs for adopting renewable sources of energy and to reduce carbon footprint.

Ongoing trend observed in the target market is increasing investment in solar projects by government in various countries. In 2015, for instance, The Cochin International Airport located in the southern state of Kerala, is fully solar-powered airport which installed a 1 MW solar power plant which can produce 4,000 units of electricity daily. With a new solar plant, now the airport can produce 60,000 units of electricity per day.

Global Airport Solar Power Market: Segment Analysis

Among the product type segments, the roof-mounted airport solar power system is expected to hold significant share in the market over the forecast period.

Global Airport Solar Power Market: Regional Analysis

The airport solar power market in Asia Pacific is expected to register major market share in terms of revenue. Especially in countries such as china and India, government initiatives for upgradation/ modernizations, promoting use renewable energy sources, rise in demand for smart airports, and presence of major players operating in the target market, are some of the factors expected to contribute for growth of the target market. In addition, rapid industrialization and urbanization, coupled with rising energy demand are some other factors expected to boost growth of the global market over the forecast period.

The market in North America is expected to grow at a significant growth rate over the forecast period, owing to growing implementation of renewable energy sources, increasing investments in solar power, along with availability of unused land within airports in countries such as US and Canada in the region.

Global Airport Solar Power Market Segmentation:

Segmentation by Product Type:

• Ground-Mounted Airport Solar Power System
• Roof-Mounted Airport Solar Power System
• Remote Airport Solar Power System

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa