Solar Rooftop Market - Business Opportunities & Industry Analysis by 2023

Posted by Mayur Yeole on March 24th, 2021

The convenience and benefit factors related to solar energy are estimated to push the growth of the solar rooftop sales market 2020. The semiconductor and electronics industry reports are produced by Market Research Future, which highlights market options for expansion. A CAGR of 20.14% is predicted to shape the market in the impending period.

The improvement in utility grids around the world is estimated to bolster the solar rooftop sales market share in the impending period. The surge in residential rooftop application is estimated to promote further market growth for the solar rooftop sales market in the forecast period.

Segmental Analysis

The segmental insight into the solar rooftop sales market has been segmented on the basis of connectivity, capacity, region, and end-users. On the basis of end-users, the solar rooftop sales market consists of commercial, residential, and industrial. On the basis of capacity, the solar rooftop sales market has been segmented into kW-100 kW, >10 kW, 11, and <100 kW. The connectivity-based segmentation of the solar rooftop sales market has been divided into off-grid and on-grid. Based on the regions, the solar rooftop sales market is segmented into Asia-Pacific, Europe, North America, and the rest of the regions in the world.

Detailed Regional Analysis

The regional review of the solar rooftop sales market includes regions such as Asia-Pacific, Europe, North America, and the rest of the regions in the world. Among these global regions, the Asia Pacific region has appeared as the foremost region in terms of value and volume, followed by the regions of Europe and North America. The Asia-Pacific solar installation capacity in 2016, accounted for 144.8 GW, while European and North American region was responsible for 102.1 GW and 35.6 GW, the Asia Pacific region holds the most significant share of roughly 50% in the worldwide solar rooftop sales market in 2016. It is projected to develop at a towering rate leading to the growth in retailing of solar rooftop consequently. The constant growth in the industrial & commercial and utility sectors in the APAC necessitates a towering amount of electricity for their operation. Moreover, the government proposals for the operation of renewable energy are leading to the end-user opting for solar energy. The combination of these factors will primarily constitute the factors enabling the development of the solar rooftop sales market in the Asia-Pacific region for the forecast period.

Competitive Analysis

The competition in the market is manageable, which is inducing the entry of new players in the global solar rooftop market. The upgrades in production methods are estimated to transform the potential of the market in the forecast period. The market is expected to record a stable growth rate in the coming years. The market competitors are expected to play a key role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The availability of strong government support and the presence of encouraging policies is expected to enliven the growth prospects in the approaching period. The incidence of options that can be favorably capitalized on is aiding the market players in improving their overall position in the market. The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period.

The noteworthy players in the solar rooftop market are Trina Solar (China), Yingli Green Energy Holding Company Limited (China), SolarWorld AG (Germany), Tata Power Solar Systems Limited (India), JA Solar Holdings Co., Ltd. (China), Canadian Solar Inc. (Canada), SMA Solar Technology AG (Germany), Delta Energy Systems (Germany),Jinko Solar (China), SunPower Corporation (U.S.), Shunfeng International Clean Energy Limited. (China), and ABB Ltd. (Switzerland).