Where, among the crisis of Covid-19, in the year 2020 the global airport solar power market is predicted as US $492.4 million, and is estimated to reach US $710.3 million by the year 2027, with a growth rate of 5.4% CAGR during the period of 2020 to 2027.
To produce clean energy for powering the terminals and occasionally contribute to the broad grid, over 100 airports in worldwide makes the use of solar panels.
The first airport in the world to run only on the solar energy is, “The Cochin International Airport Ltd (CIAL)” which has created a history and has licensed as one of the largest floating solar power plants with a capacity of 452-kilowatt hour (KWh).
The Airport contains notable amount of emission of carbon dioxide and are combined with emission of greenhouse gasses with a high energy consumption from the aircraft.
Therefore, to reduce this emission level, presently there is a tremendous increased utilization of renewable energy technology. Now a day, solar energy systems are used gradually and are being installed in various places like, roofs of airport terminals, in parking garages and the land around the platform.
Currently, during the various stages of the construction several airports globally uses solar system. A remarkable growth of the solar power system depends upon the reliability, quality, life of photovoltaic system and cost.
After the previous study and analysis of the turn over due to the induced economic crisis the Roof Mounted Airport Solar Power Systems sector is adapted the growth to a updated CAGR of 6.3% for the upcoming 7 years duration.
Along with the rise in the concerns of environment, the authorities at the airport are undertaking several initiatives in order to decrease the emission of carbon dioxide. The manufacturers of the Airport solar power systems are willing towards the extended research for the development in the technology, which is predicted to deliver the expected growth opportunities for the industry players in the market.
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Key Players analyzed in the Global Airport Solar Power Market-
- Robert Bosch
- Gaia Solar
- Canadian Solar
- Solar Energy Corporation of India.
Other Noticeable Players in the Market are-
- Indo Solar
- EMMVEE Solar Systems
- Solar Frontier Vikram Solar
- TECO Energy
Global Airport Solar Power Market-Drivers
- Availability of unused and large areas inside the airports.
- Increase in the air passengers.
The Global Airport Solar Power Market is segmented on the basis of the type of the ‘Product’ and are segmented according to ‘Geography’ which are responsible for the fluctuations in the growth of the market.
Global Airport Solar Power Market segmented by type of Product-
- Roof- Mounted Airport Solar Power System
- Ground-Mounted Airport Solar Power System
- Remote Airport Solar Power System
Global Airport Solar Power Market segmented by Geography-
- Rest of the Europe
- South Korea
- Rest of the Asia-Pacific
- South Africa
- Rest of LAMEA.
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