The latest trending report published by Crystal Market Research titled, Solar Rooftop Market approximates that the Solar Rooftop market size is estimated to flourish at a significant CAGR in the future, and this is attributed to the escalation in need for this product across the globe along with novel innovations in the market.
In 2012, the solar rooftop market was valued around USD 1.48 billion and is anticipated to reach approximately USD 4.14 billion by 2022, while registering at a significant compound annual growth rate (CAGR) of 9.70%.
Solar Rooftop Market – Report Overview:
A solar rooftop transforms the light energy from the sun into electrical energy with the help of solar panels mounted on the roof on any construction. These rooftop solar panels can either be off-grid with the battery storage or connected to the grid. They are used in several commercial, residential and industrial purposes along with system ratings of up to 10 kW, 11kW-100MW and over 100 MW, respectively.
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The extreme need for energy in the face of diminishing fossil fuels has resulted in application of solar rooftop panels in many segments.
Governments from various regions are offering tax sops in order to deploy solar panels to create heat; this factor is promoting the further growth of this market. Therefore, both public and private investors are channeling money into the major companies that are involved in manufacturing these panels.
However, lack of smart grid infrastructure is said to hinder the growth of this market to some extent. This results in making them inviable for supplying the energy on a bigger scale. Moreover, the market is being put off by the negative sentiments related to the net metering policies meant for setting up these panels.
Solar Rooftop Market – Regional Outlook:
North America is accountable for major market share in the global segment of solar rooftop owing to fast adaptation of the TPO model. Europe solar rooftop market is also soaring gradually is expected to sustain its position during the forecast period due to elevating compliance for green energy and high adoption of solar energy. Germany leads the European market of solar rooftops.
Asia Pacific also holds a significant market. In Asia Pacific, Japan leads the market due to sustainable building demands and tax benefits. Furthermore, surplus consumer base, high GDP growth, developing infrastructure, and sustainable energy requirements in India and China are encouraging the growth of this market industry in Asia Pacific.
Solar Rooftop Market – Top Major Market Players:
Trina Solar (China), SMA Solar Technology AG (Germany), Solar World AG (Germany), Yingli Green Energy Holding Company Limited (China), Shunfeng International Clean Energy Limited. (China), Canadian Solar Inc. (Canada), JA Solar Holdings Co., Ltd. (China), Jinko Solar (China), ABB Ltd. (Switzerland), SunPower Corporation (U.S.), Delta Energy Systems (Germany), and Tata Power Solar Systems Limited (India).
Key Findings of the Research Study:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Solar Rooftop Market – Report’s Magnitude:
This report contains Segment wise in-depth analysis in terms several above-mentioned segments along with market size forecasts and approximations to observe significant areas of industry growth in detail. Additionally, an executive summary, summarizing the entire report in such a way that decision-making team can speedily become familiar with background information, summarizing analysis and main conclusions.