Pune, India -- (SBWIRE) -- 12/05/2018 -- The usage of solar rooftops has gathered momentum in recent times, due to increased awareness about the concept of clean energy. Market intensive reports associated with the energy and power industry among others recently have been made accessible by Market Research Future which issues reports on this industry. The market is expected to develop with a CAGR of 20.14 percent in the duration of the forecast period.
The factors attributed to the expansion of the market are the rising rate of adoption of solar rooftop panels for electricity generation in residential, commercial and Industrial setups. The steady downfall has further motivated the market in the cost of key components. As solar rooftop panels address the reduction of harmful emissions, their sales have increased significantly due to the awareness around global warming. The market is also poised to progress due to the rise in electricity prices together with inexpensive solar panels.
Key Players:
The key players of Global Solar Rooftop Sales Market are SMA Solar Technology AG (Germany), Trina Solar (China), Yingli Green Energy Holding Company Limited (China), Canadian Solar Inc. (Canada), Jinko Solar (China), SolarWorld AG (Germany), SunPower Corporation (U.S.), Shunfeng International Clean Energy Limited. (China), Tata Power Solar Systems Limited (India), Delta Energy Systems (Germany), JA Solar Holdings Co., Ltd. (China) and ABB Ltd. (Switzerland).
Global Competitive Analysis
Aspects of the market related to pricing power and profit margins are expected to contribute in a major way to the revenue attractiveness of the market. The ripple effects of the market's growth have altered the competitive backdrop of the market. Costs involved in targeting potential customers are expected to be reasonable so as to be conducive to the expansion of the market. The ability to withstand their competitive edge is one of the key factors fuelling their efforts in this period. Portfolio development is being significantly endorsed by market competitors to achieve high growth rates. Localization is among of the more preferred trends for growing the market portion of the competitors in the market. The possibility for development in the market seems to be encouraging through the forecast period. The odds for growing revenue inflow in the business are likely to multiply through the forecast period. The key trends and players have established a positive tone for development.
The major players in the solar rooftop market globally are SolarWorld AG (Germany), Shunfeng International Clean Energy Limited. (China), Trina Solar (China), Tata Power Solar Systems Limited (India), Jinko Solar (China), Yingli Green Energy Holding Company Limited (China), JA Solar Holdings Co., Ltd. (China), SMA Solar Technology AG (Germany), Canadian Solar Inc. (Canada), SunPower Corporation (U.S.), Delta Energy Systems (Germany) and ABB Ltd. (Switzerland).
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Industry Segments
The solar rooftop market globally has been segmented on the basis of capacity into 11 kW- 100kW, <100 kW and 10 kW. On the market segmentation, the basis of connectivity is divided into off-grid and on-grid. The segmentation on the basis of end users consists of residential, commercial and industrial and lastly on the basis of regions. The market covers regions such as APAC, Middle East, North America, Europe and rest of the world.
Detailed Regional Analysis
The market for solar rooftop sales has been segmented into Asia-Pacific, North America, Europe and Rest of the World for the regional analysis. Among these regions, the Asia Pacific region has appeared as an important region in terms of volume and value, followed by Europe and North America. In the year 2016, the Asia Pacific solar installation capacity accounted for 144.8 GW, while the European and North American region accounted for 102.1 GW and 35.6 GW, respectively. In the Asia Pacific, Japan and China are the main leading nations, while, India is anticipated to observe noteworthy development in the upcoming years. The Asia Pacific region controls the biggest portion of the market amounting to approximately 50% in solar rooftop market share globally in 2016 and is anticipated to develop at a high rate resulting in the progress of the sales in the solar rooftop market subsequently. The incessant growth in the commercial & industrial utility sector in the Asia Pacific region has created a need for a high amount of electricity in their operations. Also, the government initiatives for the application of renewable energy is making the end users opt for the solar energy option. All these factors will majorly constitute the development of the solar rooftop market in the Asia Pacific region for the forecast period.
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Industry Updates:
June 2018 Jebel Ali Free Zone has of late launched UAE's first green warehouse and storage facilities and has stated its intention to install 88,000 PV modules across its facilities' rooftops in Dubai. The project comprises of the assembly largest distributed solar rooftop project in the Middle Eastern region, with a scheduled installation of the 88,000 rooftop panels, which are estimated to create sufficient clean power for the equivalent of 3,000 homes in a year.