Rooftop Solar Panel Market
Global Rooftop Solar Panel Market Size, Share & Trends Analysis Report by Type (Monocrystalline Silicon Rooftop Solar Panel, Polycrystalline Silicon Rooftop Solar Panel, Thin-Film Rooftop Solar Panel, and Others), By End-user (Household Sector and Corporate Sector), Forecast Period 2021-2027 Update Available - Forecast 2024-2030
The global rooftop solar panel market is anticipated to grow at a CAGR of nearly 8.2% during the forecast period. Rooftop solar photovoltaic (PV) is considered a secure investment for end-use customers against the fluctuating electricity price. The less price of the rooftop solar panel installation as compared to electricity price is propelling the growth of the market. Rooftop solar PV panels and related equipment includes inverters, meters, junction boxes, transformers, cables, batteries, and monitoring and mounting unit are gaining widespread adoption among customers owing to the flexible nature of on-grid and off-grid installation. The market is rapidly growing and is showing promising growth opportunities during the forecast period majorly coupled with the increasing demand for renewable energy and government subsidies for the adoption of solar panels.
The governments of different countries initiate policies to provide incentives to solar panel owners to reduce the installation cost load. Government support in the form of incentives, reduction in tariff, and tax credits are expected to offer ample opportunities for the growth of the rooftop solar panel market. Additionally, several economies around the globe are setting targets and introducing policies for promoting renewable energy and reducing greenhouse gas (GHG) emissions. In addition, economies such as Australia and the US are developing solar cities. The government provides incentives to deploy solar plants in various sectors such as residential, industrial, commercial, and so on. However, the high installation cost is acting as a restraining factor for the growth of the market. Segmental Outlook
The market is segmented based on type and end-user. Based on the type, the market is segmented into monocrystalline silicon rooftop solar panel, polycrystalline silicon rooftop solar panel, thin-film rooftop solar panel, and others. Further, thin-film rooftop solar panels are segmented into amorphous silicon (a-Si), cadmium telluride (CdTe), and copper indium gallium selenide (CIS/CIGS). Based on the end-user, the market is segmented into the household and corporate sector.
Global Rooftop Solar Panel Market Share by End-User, 2020 (%)
Corporate Sector holds Prominent share in the Market
In 2020, the corporate sector held the largest share in the market. The major factors encouraging the demand for rooftop solar panels in the residential sector include very high commercial electricity tariffs. This results in an increasing interest in solar power generation owing to various economic benefits such as reduction in taxes by the government, the incentives offered for the installation of solar panels on the rooftop, and a continuous source of energy to eliminate down times. Solar panel systems are distributed power generation systems, that support commercial buildings to meet the energy demand by providing electricity within an existing distribution network. The rooftop PV systems are small in size and can be installed on the rooftop of commercial buildings. The emerging shift from energy generation through conventional sources such as coal and natural gas to clean energy and the equipment damages due to voltage fluctuation in conventional power grids is offering a potential opportunity for the adoption of rooftop solar panels.
Regional Outlooks
The market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific region is leading the rooftop solar panel market followed by Europe and North America majorly due to the rising environmental concerns such as global warming and reduction in the rooftop solar panel costs in the region. Potential installations of renewable energy sources and the expansion of commercials are offering an opportunity for market growth in the region.
Global Rooftop Solar Panel Market Growth by Region, 2021-2027
Asia-Pacific is Projected to Have Considerable Share in The Global Rooftop Solar Panel Market
Asia-Pacific is anticipated to hold a considerable market share in the global rooftop solar panel market. The three major countries in the renewable energy sector in the region include China, India, and Japan. The Asia- pacific growth is primarily driven by China and India’s solar panel industry. China has a potential share in solar PV installations as well as the production of solar PV panels. As per the International Energy Agency (IEA), the country has the largest installed solar power capacity of more than 205 GW in 2019, contributing more than 35.0% of the global installations. Besides, China is the biggest manufacturing country for solar PV equipment globally. Owing to the increasing demand for solar energy, and the large-scale manufacturing of solar panels, the region is expected to grow at a considerable CAGR during the forecast period.
Market Players Outlook
Key players operating in the market include SunPower Corp., Canadian Solar Inc., First Solar Inc., JA Solar Holdings Co., Ltd., and JinkoSolar Holding Co., Ltd. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in February 2020, Canadian Solar Inc. declared the acquisition of the 47.5 MWp portfolio of the solar projects under development in the Araucanía and Maule Regions of Chile. This project is expected to generate over 89.1 GWh of electricity or power around 28,500 households per year.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global rooftop solar panel market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Regulation and Tax Laws
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Canadian Solar Inc.
3.3.1.1. Overview
3.3.1.2. Financial Analysis
3.3.1.3. SWOT Analysis
3.3.1.4. Recent Developments
3.3.2. SunPower Corp.
3.3.2.1. Overview
3.3.2.2. Financial Analysis
3.3.2.3. SWOT Analysis
3.3.2.4. Recent Developments
3.3.3. First SolarInc.
3.3.3.1. Overview
3.3.3.2. Financial Analysis
3.3.3.3. SWOT Analysis
3.3.3.4. Recent Developments
3.3.4. JA Solar Holdings Co., Ltd.
3.3.4.1. Overview
3.3.4.2. Financial Analysis
3.3.4.3. SWOT Analysis
3.3.4.4. Recent Developments
3.3.5. JinkoSolar Holding Co., Ltd.
3.3.5.1. Overview
3.3.5.2. Financial Analysis
3.3.5.3. SWOT Analysis
3.3.5.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Rooftop Solar Panel Market by Type
5.1.1. Monocrystalline Silicon Rooftop Solar Panel
5.1.2. Polycrystalline Silicon Rooftop Solar Panel
5.1.3. Thin-Film Rooftop Solar Panel
5.1.3.1. Amorphous Silicon (a-Si)
5.1.3.2. Cadmium Telluride (CdTe)
5.1.3.3. Copper Indium Gallium Selenide (CIS/CIGS)
5.1.4. Other Solar Panel
5.2. Global Rooftop Solar Panel Market by End-User
5.2.1. Household Sector
5.2.2. Corporate Sector
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Allpowers Industrial International Ltd.
7.2. CSUN Solar Tech Co., Ltd.
7.3. DelSolar Co., Ltd.
7.4. Evergreen Solar, Inc.
7.5. Hanwha Corp.
7.6. Juwi AG
7.7. Kyocera Corp.
7.8. Motech Industries, Inc.
7.9. Neo Solar Power Corp.
7.10. Renesola Zhejiang, Ltd.
7.11. Risen Energy Co., Ltd.
7.12. Sharp Corp
7.13. Shenzhen Portable Electronic Technology Co., Ltd.
7.14. Shunfeng International Clean Energy, Ltd. (SFCE).
7.15. SoloPower Systems, Inc.
7.16. SunEdison Inc.
7.17. Tata Power Solar Systems Ltd.
7.18. Trina Solar Energy Co., Ltd.
7.19. Vikram Solar Ltd.
7.20. Wuxi Suntech Power Co., Ltd.
7.21. Yingli Green Energy Holding Company Ltd.
7.22. Zhongli Talesun Solar Co., Ltd.
1. GLOBAL ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY TYPE,2020-2027 ($ MILLION)
2. GLOBAL MONO CRYSTALLINE SILICON ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL POLY CRYSTALLINE SILICON ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL THIN-FILM ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL OTHER ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
7. GLOBAL ROOFTOP SOLAR PANEL IN HOUSEHOLD SECTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL ROOFTOP SOLAR PANEL IN CORPORATE SECTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
10. NORTH AMERICAN ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
11. NORTH AMERICAN ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY TYPE,2020-2027 ($ MILLION)
12. NORTH AMERICAN ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY END-USER,2020-2027 ($ MILLION)
13. EUROPEAN ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
14. EUROPEAN ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY TYPE,2020-2027 ($ MILLION)
15. EUROPEAN ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
16. ASIA-PACIFIC ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
17. ASIA-PACIFIC ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY TYPE,2020-2027 ($ MILLION)
18. ASIA-PACIFIC ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
19. REST OF THE WORLD ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
20. REST OF THE WORLD ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY TYPE,2020-2027 ($ MILLION)
21. REST OF THE WORLD ROOFTOP SOLAR PANEL MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. GLOBAL ROOFTOP SOLAR PANEL MARKET SHARE BY TYPE, 2020 VS 2027 (%)
2. GLOBAL ROOFTOP SOLAR PANEL MARKET SHARE BY END USER, 2020 VS 2027 (%)
3. GLOBAL ROOFTOP SOLAR PANEL MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
4. GLOBAL MONO CRYSTALLINE SILICON ROOFTOP SOLAR PANEL MARKET SHARE BY REGION, 2020 VS 2027 (%)
5. GLOBAL POLY CRYSTALLINE SILICON ROOFTOP SOLAR PANEL MARKET SHARE BY REGION, 2020 VS 2027 (%)
6. GLOBAL THIN-FILM ROOFTOP SOLAR PANEL MARKET SHARE BY REGION, 2020 VS 2027 (%)
7. GLOBAL OTHER ROOFTOP SOLAR PANEL MARKET SHARE BY REGION, 2020 VS 2027 (%)
8. GLOBAL HOUSEHOLD SECTOR SOLAR PANEL MARKET SHARE BY REGION, 2020 VS 2027 (%)
9. GLOBAL CORPORATE SECTOR SOLAR PANEL MARKET SHARE BY REGION, 2020 VS 2027 (%)
10. US ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027($ MILLION)
11. CANADA ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027($ MILLION)
12. UK ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
13. FRANCE ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
14. GERMANY ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
15. ITALY ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
16. SPAIN ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
17. REST OF EUROPE ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
18. INDIA ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
19. CHINA ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
20. JAPAN ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
21. SOUTH KOREA ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
22. REST OF ASIA-PACIFIC ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
23. REST OF THE WORLD ROOFTOP SOLAR PANEL MARKET SIZE, 2020-2027 ($ MILLION)
