Roof Photovoltaic Market Scope
Roof photovoltaics can be mounted or integrated on the roof of a building to convert solar energy into electricity. Solar roof systems are gaining much importance compared to the ground or land mounted as in roof-mounted systems there are fewer or no chances of any obstacles that create challenges for the system to access sunlight. China is the largest producer of solar energy across the globe and accounts for one-third of global installed solar capacity. Other countries like the United States, Japan, Germany, and India are also installing solar systems to reduce energy costs. In the United States and European countries, more than 50 % of residentials are dependent upon solar energy. Further, increasing urbanization and reducing the availability of land will create remarkable growth for the roof photovoltaic market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Panasonic (Japan), Tata Power Solar (India), Canadian Solar (Canada), Jinko Solar (China), Sharp Corporation (Japan), Sika AG (Switzerland), First Solar Inc. (United States), Trina Solar (China), Adani Solar (India), SunPower (United States), Risen Energy (China), JA Solar Holdings (China), Schott Solar (Germany), SolarWorld (Germany) and Vikram Solar (India)|
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Panasonic (Japan), Tata Power Solar (India), Canadian Solar (Canada), Jinko Solar (China), Sharp Corporation (Japan), Sika AG (Switzerland), First Solar Inc. (United States), Trina Solar (China), Adani Solar (India), SunPower (United States), Risen Energy (China), JA Solar Holdings (China), Schott Solar (Germany), SolarWorld (Germany) and Vikram Solar (India) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Roof Photovoltaic market by Type (Monocrystalline, Crystalline Silicon, Thin Film (Amorphous) and Multicrystalline), by Application (Residential, Commercial and Industrial) and Region with country level break-up.
On the basis of geography, the market of Roof Photovoltaic has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn November 2021, ADT, the US-based electronic security provider entered into an agreement to acquire Sunpro Solar to enter into US rooftop solar market. Sunpro Solar is United States’ leading rooftop solar system provider that installs solar systems on residential and commercial properties across 22 US States. The acquisition will strengthen ADT’s portfolio and expand its presence to offer smart home and solar products and services to residential consumers in the United States.
In March 2022, Canadian Solar, a leading manufacturer of solar PV modules launched its new 420w rooftop solar module, CS6R-MS with 21.5% efficiency. It is a part of the company’s HiKu6 series based on 182mm wafers that has a small module size, lightweight, and outstanding aesthetic design. The new product has been developed especially for rooftop solar applications which is compatible with the most common photovoltaic inverters.
- Increasing Innovation and Technological Developments in the Solar Roof Technology to Make It More Efficient, Affordable, and Easier to Install
- Increasing Energy Cost and Prevalence of Installation of Roof Solar Systems among Residential
- Potential Growth of Monocrystalline Solar Panels for Residential Solar system Installation Due to Its Power Capacity and Efficiency
- High Growth of Residential Solar Installation in the United States and European Countries
- Solar Incentives Policies by the Government to Encourage the Install Solar Penal and Adopt Renewable Sources for Energy Generation
- Initial Cost of Solar Installation and Weather Disturbance Is the Biggest Restraint for the Solar System
- Presence of Multiple Players in the Global Market Can Increase Competition and Create Challenges
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Roof Photovoltaic Manufacturers, Roof Photovoltaic Suppliers & Distributors, Solar System Manufacturers, Suppliers, and Distributors, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others
Frequently Asked Questions (FAQ):
1. What are the key segments playing vital role in Roof Photovoltaic Market?
The Roof Photovoltaic study can be customized to meet your requirements. The market size breakdown by type [Monocrystalline, Crystalline Silicon, Thin Film (Amorphous) and Multicrystalline], by end use application [Residential, Commercial and Industrial].
2. How big is the Roof Photovoltaic Market?
The Roof Photovoltaic Market is gaining popularity and expected to see strong valuation by 2027.