Industry Background:
Solar rooftops are solar panels placed on top of roofs of commercial, industrial, residential, and others (institution, government, community) buildings. They capture the light energy emitted by the sun and convert it into electrical energy. This setup is also known as a solar rooftop photo-voltaic system. It produces a clean, eco-friendly form of energy, meaning that it does not produce any kind of pollution or harmful gases. The solar rooftop system is the most vital part of the generation of renewable power. It is used for producing solar energy and solar power consumption. These systems can be installed in vacant roof space and offer lower transmission and distribution losses. It is being widely used due to its feature that helps in carbon emission reduction offering long-term energy and ecological security. The solar rooftop systems provide better management of daytime peak loads with minimal technical losses as power consumption and generation are collocated. According to Bridge to India, in 2016, the Indian rooftop solar market has with a CAGR of 98% in the last four years to reach a total capacity of 1,020 MW. Due to this growing solar rooftop market in Asian countries are the major solar rooftop system manufacturers are focus on investing in this region. The Indian solar rooftop market was estimated to be around USD 1,183 million in 2019 which is expected to reach an estimated value of USD 2,151.2 Million by 2025 growing at a CAGR of 10.5% during the forecast period.
The Global Solar Rooftop System market presents a comprehensive analysis of the Solar Rooftop System market by product type (Solar Photovoltaic and Solar Thermal), by end-user/application (Industrial, Commercial and Residential), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. The key Manufacturers profiled in the report are JinkoSolar Holding Co., Ltd. (China), SunPower Corporation (United States), Trina Solar Limited (China), Canadian Solar Inc. (Canada), Tata Power Solar Systems Limited (India), Hanwha Q Cells Co., Ltd. (South Korea), JA Solar Holdings (China), LONGi Solar (China), Risen Energy (China) and Talesun Solar Technologies (China).
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | JinkoSolar Holding Co., Ltd. (China), SunPower Corporation (United States), Trina Solar Limited (China), Canadian Solar Inc. (Canada), Tata Power Solar Systems Limited (India), Hanwha Q Cells Co., Ltd. (South Korea), JA Solar Holdings (China), LONGi Solar (China), Risen Energy (China) and Talesun Solar Technologies (China) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Increasing Number of Installations in Emerging Countries such as India
Market Growth Drivers:
Growing Electricity Needs Worldwide, Expanding the Renewable-based Power Generation and Lower Transmission and Distribution Losses
Challenges:
High Maintenance Cost
Restraints:
High Initial Cost Coupled with Lack of Awareness among the People
Opportunities:
Rising Government Focus on Increasing the Share of Solar Power in the Energy Mix and Availability of Abundant Solar Resource
Regional Breakdown and Segment Analysis
This section of our report presents a realistic picture of the Global Solar Rooftop System industry. Investors and manufacturers can easily understand the inherent opportunities and challenges for their products in the geographical region of interest. For instance, while the Asia Pacific holds majority of market share of the Solar Rooftop System, the Europe has emerged as a crucial market for several Solar Rooftop System brands.
The Components, such as Solar panels, is boosting the Solar Rooftop System market and is anticipated to experience a steady growth during the forecast period.
The Installation Type, such as Grid-Connected, is boosting the Solar Rooftop System market and is anticipated to experience a steady growth during the forecast period.
The Capacity, such as Up to 10 kW, is boosting the Solar Rooftop System market and is anticipated to experience a steady growth during the forecast period.
The Metering Arrangement, such as Net Metering, is boosting the Solar Rooftop System market and is anticipated to experience a steady growth during the forecast period.
In Solar Rooftop System Market, it has been observed that most of the companies are upgrading or introducing innovative products as well as are heavily investing in Research and Development (R&D) activities in order to gain a position in the global market. These companies rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
The regional segmentation covered in this report are:
South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)