Global Off-Grid Solar PV Panels Market, By Technology (Thin Film, Crystalline Silicon and Others), Power Rating (Up to 10kW, 11kW – 50kW, 51kW – 100kW), Application (Residential, Commercial, Industrial), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Off-Grid Solar PV Panels Market
The off-grid solar PV panels market is expected to gain market growth in the forecast period of 2021 to 2028. Data bridge market research analyses that the market is growing with the CAGR of 9.60% in the forecast period of 2021 to 2028 and is expected to reach USD 4.15 billion by 2028. The rise in need for renewable energy sources is escalating the growth of off-grid solar PV panels market.
The large availability of water resources including canals, reservoirs, ponds and rivers and the use for dam-reservoir for hydroelectric power generation which could be easily utilized for hydroelectric power generation as the infrastructure act as the major factors driving the off-grid solar PV panels market. The increase in the number of off-grid solar PV panel installation owning to low maintenance and management cost, the less dusty and arid environment coupled with water reservoirs and the ability of off-grid solar PV panels to be adjusted as per the position of the sun to harness maximum energy and output accelerate the off-grid solar PV panels market growth. Off-grid solar PV panels offer higher efficiency and maintenance of constant temperature of silicon panels which maintains the output level, fewer temperature variations assist in increasing the working efficiency of photovoltaic cells that are installed in the solar panels and less amount of steel utilized in the manufacturing of these panels compared to conventional panels influence the off-grid solar PV panels market. Additionally, the low cost production of off-grid solar PV panels and the low requirement of less amount of silicon and reduce the size of panel making it cost effective also propel the off-grid solar PV panels market. Furthermore, the growing Pay-As-You-Go (PAYG) model and technological advancement in the product extends profitable opportunities to the off-grid solar PV panels market players in the forecast period of 2021 to 2028.
On the other hand, the high cost associated with the installation of the product and increasing issues related to grid congestion issues and interconnection delays are the factors expected to obstruct the off-grid solar PV panels market growth. The concerns regarding the insufficient grid capacity are projected to challenge the off-grid solar PV panels market in the forecast period of 2021-2028.
This off-grid solar PV panels market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on off-grid solar PV panels market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Off-Grid Solar PV Panels Market Scope and Market Size
The off-grid solar PV panels market is segmented on the basis of technology, power rating and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of technology, the off-grid solar PV panels market is segmented into thin film, crystalline silicon and others.
- On the basis of power rating, the off-grid solar PV panels market is segmented into up to 10kw, 11kw – 50kw and 51kw – 100kw.
- On the basis of application, the off-grid solar PV panels market is segmented into residential, commercial and industrial.
Global Off-Grid Solar PV Panels Market Country Level Analysis
The off-grid solar PV panels market is analyzed and market size, volume information is provided by country, technology, power rating and application as referenced above.
The countries covered in the globally off-grid solar PV panels market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the off-grid solar PV panels market due to the rapid development and utilization of renewable energy sources, increase in energy requirements and growth in awareness and financial incentives offered by state governments in the region. Asia-Pacific are expected to witness the highest CAGR in the forecast period of 2021 to 2028 because of the developing countries taking initiatives to install these panels to meet huge energy demand, increasing developmental activities and consumption of energy in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Off-Grid Solar PV Panels Market Share Analysis
The off-grid solar PV panels market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to off-grid solar PV panels market.
The major players covered in the off-grid solar PV panels market report are Solar Power Rocks LLC, Canadian Solar, HelioPower, Inc., Yingli Solar, SMA Solar Technology AG, Schneider Electric, BACKWOODS SOLAR ELECTRIC SYSTEMS, Saur Energy, KANEKA CORPORATION, KYOCERA Corporation, Panasonic Corporation, Renesola, BP Solar International Inc., Bloo Solar Inc., VIA TECHNOLOGIES, INC., 3GSolar, Luminous India, Havells India Ltd, Zytech Solar Inc among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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