Rooftop Solar Photovoltaic (PV) Installation Market Analysis-2030
The global rooftop solar photovoltaic (PV) installation market size was valued at $45.9 billion in 2020, and is projected to reach $84.2 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030. A rooftop solar photovoltaic installation is a type of electrical installation setup, mounted on the roof that converts solar energy into electricity. Rooftop solar PV systems are distributed power generation system that help in meeting the energy demand of buildings within an existing distribution network. The size of the installation is dependent upon the size of the building and can vary dramatically. The rooftop solar PV systems are small in size and are installed on residential and commercial buildings rooftop.
Growing demand for rooftop solar photovoltaic systems in residential buildings to save a specific share of cost sustained on electrical energy, the demand for which is on a high with technological developments to improve the living standard of the people by offering different electrical power consuming home appliances.
For the purpose of analysis, the global rooftop solar photovoltaic (PV) installation market is segmented into deployment, technology, grid type, end-use, and region. Depending on the deployment, it is categorized into ground mounted and rooftop mounted. On the basis of technology, it is bifurcated into Thin Film and Crystalline Silicon and crystalline silicon is further classified into monocrystalline and multicrystalline. On the basis of grid type, it is classified into Off-grid and grid connected and grid connected is further bifurcated into centralized and decentralized. The end-use covered in the study include residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global rooftop solar photovoltaic (PV) installation market are Suntech Power Holding Co. Ltd, First Solar Inc., Yingli Solar, Sunpower Corporation, Sharp Corporation, JA Solar Holding Company Ltd., Kyocera, Shenzhen Topray Solar Co. Ltd., Tata Power Solar Systems Ltd.., and Wuxi Suntech Power Co. LTD
Other players operating in the global rooftop solar photovoltaic (PV) installation industry are Aneka Corporation Ltd., Panasonic Corporation, Renesola Co. Ltd., BP Solar International, and Bloo Solar Inc.
The global rooftop solar photovoltaic (PV) installation market is studied in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021–2030. The report includes the study of the rooftop solar photovoltaic (PV) installation market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Rooftop Solar Photovoltaic (PV) Installation Market, by deployment
The solar photovoltaic market is majorly contributed by the ground-mounted sector than the roof segment as a result of higher installations setups in the ground-mounted segment across the globe. The higher need for utility-scale is anticipated to continue during the forecast period, with strong demand from the emerging markets such as China across the globe.
By Deployment
Ground Mounted segment is projected as the most lucrative segment.
Rooftop Solar Photovoltaic (PV) Installation Market, by technology
Based upon technology the market is segmented into Crystalline Silicon PV, Thin Film PV. The Crystalline Silicon PV sector is leading the market with the highest market share as well as is anticipated to grow significantly during the forecasted period.
By Technology
Crystalline Silicon is projected as the most lucrative segment.
Rooftop Solar Photovoltaic (PV) Installation Market, by grid type
Based on grid type, the market is segmented into grid-connected, off the grid. The grid-connected segment is dominating the market with the greatest market share as well as is expected to grow substantially during the projected period.
By Grid Type
Grid Connected is projected as the most lucrative segment.
Rooftop Solar Photovoltaic (PV) Installation Market, by end use
The Residential segment is the most significant segment and witnessed significant growth during the forecast period. The market is driven by the fact that rooftop solar photovoltaic systems are little in size, and can be quickly installed on household structures.
By End - Use
Industrial is projected as the most lucrative segment.
Rooftop Solar Photovoltaic (PV) Installation Market, by region
Asia-Pacific will be highest growing region during the forecast period. The government in nations like India, China and Japan is advertising clean as well as green energy. Additionally, they are giving subsidies and incentives on solar PV project. Moreover, the surging demand for power along with the emerging requirement to find alternatives to the promptly diminishing fossil fuels in this region.
By Region
Asia-Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
COVID-19 impact on the market
Lockdown imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries and electrical utilities, which decreased the demand for electricity from these consumers. Regardless of this strength, renewables' growth is anticipated to decrease. The globe is set to include 67 gigawatts (GW) of renewable power capacity. This decrease reflects delays in construction due to supply chain disturbances, lockdown actions and also social distancing guidelines, along with emerging financing obstacles. According to the International Energy Agency forecast, it expects utility-scale solar PV projects to rebound as most of the projects are already financed and under construction, however setups of roof solar PV for companies and homes might continue to be dispirited in the medium term without strong government assistance.
Key Benefits For Stakeholders
- The report provides an extensive qualitative and quantitative analysis of the current rooftop solar photovoltaic (PV) installation market trends and future estimations of the market from 2021 to 2030 to determine the prevailing opportunities.
- A comprehensive analysis of the factors that drive and restrict the rooftop solar photovoltaic (PV) installation market share is provided.
- Estimations and forecast are based on factors impacting the rooftop solar photovoltaic (PV) installation market forecast, in terms of value.
- Profiles of leading players operating in the rooftop solar photovoltaic (PV) installation market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable rooftop solar photovoltaic (PV) installation market growth.
Rooftop Solar Photovoltaic (PV) Installation Market Report Highlights
| Aspects | Details |
 By Deployment |
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 By Technology |
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 By Grid Type |
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 By Application |
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 By Region |
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Analyst Review
According to the insights of global leaders.The rise in adoption of rooftop solar photovoltaic installation in residential as well as commercial for generating power using solar energy and large number of investments in solar industry by major players are the key trends witnessed in the rooftop solar photovoltaic (PV) installation market. The increase in use of rooftop solar is preferred due to large customer base, low-cost power generation, and regulatory policies in emerging economies. In addition, increase in demand for solar photovoltaic from different regions leads to cheap modules production and results in declined prices globally.
Renowned global market leaders such as Suntech Sun Power Corporation, First Solar Inc., are adopting various key growth strategies to strengthen their market position. Furthermore, these companies are focused on acquisition and product launch to cater to the increase in demand for the rooftop solar photovoltaic (PV) installation market and to maintain their position in the global rooftop solar photovoltaic (PV) installation. Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market throughout the forecast period, followed by North America, Europe, and LAMEA.
According to the insights of global leaders.The rise in adoption of rooftop solar photovoltaic installation in residential as well as commercial for generating power using solar energy and large number of investments in solar industry by major players are the key trends witnessed in the rooftop solar photovoltaic (PV) installation market. The increase in use of rooftop solar is preferred due to large customer base, low-cost power generation, and regulatory policies in emerging economies. In addition, increase in demand for solar photovoltaic from different regions leads to cheap modules production and results in declined prices globally.
Renowned global market leaders such as Suntech Sun Power Corporation, First Solar Inc., are adopting various key growth strategies to strengthen their market position. Furthermore, these companies are focused on acquisition and product launch to cater to the increase in demand for the rooftop solar photovoltaic (PV) installation market and to maintain their position in the global rooftop solar photovoltaic (PV) installation. Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market throughout the forecast period, followed by North America, Europe, and LAMEA.
Soaring electricity prices, no greenhouse gases to be emitted after installation and Reduced dependence on foreign oil and fossil fuels are the major driving factor for the Rooftop Solar Photovoltaic (PV) installation System Market. In addition, Solar power is suitable for remote areas that are not connected to energy grids and rising electricity demand in remote areas may create ample of opportunities for the market.
Agreement and product launch are the key growth strategy of Global Rooftop Solar Photovoltaic (PV) installation System Market players.
The report sample for global Rooftop Solar Photovoltaic (PV) installation System Market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
North America and LAMEA will provide more business opportunities for Global Rooftop Solar Photovoltaic (PV) installation system in future
Suntech Power Holding Co. Ltd, First Solar Inc., Yingli Green Energy Holding Co. Ltd., Canadian Solar Inc., Sharp Corporation, Solar World Ag, Jinko Solar Holding Company Ltd., and Trina Solar Ltd.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
Residential segment holds the maximum share of the Global Rooftop Solar Photovoltaic (PV) installation system Market
Rooftop Solar Photovoltaic (PV) installation System has high in residential, commercial and industrial sector. However, end-use people and big industries are the major customers of global Rooftop Solar Photovoltaic (PV) installation system market.
Increase in investment in power sector across the globe and rising clean and renewable energy source are the current trend expected to influence the Global Rooftop Solar Photovoltaic (PV) installation system Market in the next few years
Global Rooftop Solar Photovoltaic (PV) installation system market is expected to reach $84.2 billion by 2030 at a CAGR of 6.3%.
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