The global solar farm market size was US$ 86.4 billion in 2021. The global solar farm market is forecast to grow to US$ 441.3 billion by 2030 by growing at a compound annual growth rate (CAGR) of 19.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market
Solar farms are large-scale energy production facilities powered by solar cells. The growing inclination towards the use of solar energy is forecast to fuel the growth of the solar farm market during the forecast period. 
Supportive government regulations to scale up the use of photovoltaic technology will contribute to the market growth. For instance, according to information by U.S. Solar Energy Industries Association, the government has introduced stringent laws like net metering. These laws are aimed at promoting photovoltaic technology to generate electricity. Thus, it will benefit the solar farm market during the study period. 
The Chinese solar photovoltaic industry is also growing at a substantial pace. According to data by China Photovoltaic Industry Association, China's photovoltaic energy capacity increased by 34% in 2018. Therefore, it will significantly contribute to the growth of the global solar farm market. 
Apart from that, growing investments in the agriculture sector will accelerate the growth of the solar farm market during the study period. 
On the flip side, the high cost associated with the installation of solar systems may limit the growth of the market during the study period.

COVID-19 Impact Analysis
Due to the COVID-19 pandemic, investments in the solar energy sector decreased. As a result, it has hampered the growth of the solar farm market. The market has recorded a substantial decline due to supply chain disruptions and a halt in manufacturing activities. However, the market is expected to have outstanding potential in the coming years as investments in the sector have started to increase. China, which imports a large amount of solar panel material, was drastically affected by the pandemic. Thus, it negatively affected the global solar farm market.

Regional Analysis
Europe is estimated to dominate the global solar farm market, owing to the rising developments and innovations in the solar industry. Furthermore, the PV energy sector is forecast to record potential growth due to the rising installation of PV systems across various verticals. In Asia-Pacific, the solar energy sector is recording notable growth. Moreover, increasing government initiatives for electrification of rural areas, like Akshay Urja, will contribute to the industry growth. Apart from that, China is home to nearly 80% of solar panel materials. Thus, such estimations depict the potential of this regional market in the coming years.

Competitors in the Market
• Trina Solar
• First Solar, Inc.
• TATA Power
• Sharp Corporation
• BrightSource Energy, Inc.
• Solar Systems Ltd.
• Shenzhen Topray Solar Co., Ltd.
• JA Solar Holdings Co. Ltd.
• Other Prominent Players

Market Segmentation
The global solar farm market segmentation focuses on Type, End-Users, and Region. 
By Type Outlook 
• Utility-scale
• Distributed Generation
• Microgrids
• Others
By End-Users Outlook
• Commercial
• Industrial
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America