Solar Rooftop Market Size, Share & Industry Analysis, By Connectivity (On-Grid, Off-Grid), By Application (Commercial, Residential, Industrial, Others) and regional Forecast, 2024-2032

Region :Global | Report ID: FBI103801 | Status : Ongoing

KEY MARKET INSIGHTS

Solar rooftop are the solar panels that are placed on the different types of infrastructures. This arrangement is often referred as solar rooftop photovoltaic system. This type of system provides clean form of energy which means it does not form any kind of pollution and does not release harmful gases in the atmosphere. Moreover, this renewable type of energy produced is ecologically and environmentally sustainable and harmless.

The increasing adoption of solar rooftop to produce clean energy is thriving the market. The depleting reserves of fossil fuels like petroleum, crude oil and natural gas is leading towards the development of clean, green and renewable type of energy resources. This is expected to boost the market. Additionally, the stringent rules imposed by governments on use of fossil fuels that produce pollutants like CO and CO₂ shall foster the market growth.

However, installation of solar rooftop is one-time expenditure and involves technical skills and knowledge. The cost of the solar panels and its installation charges are slightly higher than the other sources of energy. This shall hinder the market growth.

Key Market Driver -

Increasing adoption of clean energy resources.

Key Market Restraint -

High installation cost.

Market Segmentation:

Based on connectivity, the market is segmented into on-grid and off-grid. Based on application, the market is segmented into commercial, industrial, residential and other.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global solar rooftop market consists of global & regional players operating. Some of the key players in the market include Hanwha Q CELLS Co. Ltd., SolarCity Corporation, Shunfeng International Clean Energy Limited, SolarWorld AG, Yingli Green Energy Holding Company Limited, Canadian Solar Inc., Pristine Sun LLC, Kyocera Corporation, Vikram Solar, Sunshot Solar Co. Ltd., SunPower Corporation, Solimpeks Corporation, JA SOLAR Holdings Co. Ltd., and others.

Key Insights

New Advancements in Production Technologies

Key Trends in the Solar Rooftop Market

New Product Launches, Expansions, Key Players

Ranking of Key Players in the Market

Regional Analysis:

The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is holds the largest share in the solar rooftop market attributed to the high industrial and commercial growth. The large manufacturing base in China and India requires large electricity for all industrial operation which is expected to boost the regional market. North America is estimated to hold second largest share due to the stringent rules imposed regarding the use of fossil fuels and polluting sources of energy. Europe is expected to show substantial growth due to the adoption of cleaner and greener source of energy supporting the rising awareness in consumers. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.

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Segmentation

ATTRIBUTE	DETAILS
By Connectivity	On-Grid Off-Grid
By Application	Commercial Residential Industrial Others
By Geography	North America (U.S., and Canada) Europe (Germany, UK, France, Italy, and Rest of Europe) Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific) Latin America (Mexico, Brazil, and Rest of Latin America) Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)

Solar Rooftop Industry Developments

In July 2019, Sharp Energy Solutions installed a solar power system on rooftop of production plant of Yokohama Rubber Co. Ltd., to reduce electricity spending of the company.

In June 2017, Sharp Corporation has entered in a definitive agreement with Thailand’s largest hypermarket retailers named Big C stores, to develop a 16 MW solar rooftop PV portfolio to support use of renewable and green source of energy.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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