Description
Global Off-Grid Solar Market Research Report—Forecast till 2026
Market Dynamics
The Off-grid Solar Market is expected to register substantial growth during the review period because of the increasing requirement for solar energy from small & medium enterprises (SMEs). The off-grid systems work on the batteries that store solar power produced by the system. The system comprises batteries, solar panels, inverters, and controllers. These systems provide power to the critical loads in areas where power grids are unavailable. The global market growth is driven by the various benefits and growing government initiatives promoting the adoption of off-grid solar equipment by SMEs are expected to create many opportunities for the companies operating in the global off-grid solar market during the study period.
The growth of the off-grid solar market is propelled by the rising contribution of solar energy sources in the global energy mix and the increasing adoption of off-grid solar in developing and rural areas. However, the ongoing COVID-19 pandemic intensely impacted the global demand for energy, and most sources in the global energy mix have witnessed a decline in demand. As per the International Energy Agency de need for renewable electricity sources advanced by 1.56% from Q1 2019 to Q1 2020. Besides, the high initial expenses required for off-grid systems, bulky, and not very environmentally friendly system is expected to curb the market growth during the study. Furthermore, solar panels, in general, have a lifespan of 25 years, and users usually get their return on investment within seven to eight years, because of which users will receive electricity free of cost for the rest of the lifespan of the system.
Market Segmentation
Global Off-Grid Solar Market has been divided into Type, Application, and Region.
By type segment, the global market has been classified into solar panels, batteries, controllers, and inverters. In terms of the application segment, the global market has been bifurcated into residential and non-residential.
Regional Analysis
The region-specific analysis of the Global Off-Grid Solar Market spans across five major regions, namely North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Asia-Pacific is expected to contribute the largest market share during the review period, because of rising demand for solar power energy sources and increasing investments in the development of rural areas in the region. Solar energy has developed as a renewable and free replacement for conventional energy sources and lowers carbon emissions by meeting the electricity needs in the Asia Pacific. Shapoorji Pallonji And Company Private Limited (India) and ReNewPower (India) invested around USD 110 million for the development of a 150MW floating solar power project in Uttar Pradesh, India in 2019. Furthermore, many government incentives, policies, and schemes support the installation of off-grid solar equipment in the region. These factors are expected to fuel the expansion of the off-grid solar market in Asia-Pacific during the assessment period.
Major Players
The Major Players in the Global Off-Grid Solar Market are ABB, Schneider Electric, SMA Solar Technology Ag, Jinko Solar Holding Co., Ltd., SunPower Corporation, Canadian Solar, Engie, Hanwha Group, M-KOPA Kenya, Oolu Solar, Solectria Renewables, LLC, and Delta Electronics, Inc.
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Table of Contents
TABLE OF CONTENT
1 EXECUTIVE SUMMARY
1.1. MARKET ATTRACTIVENESS ANALYSIS
1.1.1. GLOBAL OFF-GRID SOLAR MARKET, BY TYPE
1.1.2. GLOBAL OFF-GRID SOLAR MARKET, BY APPLICATION
1.1.3. GLOBAL OFF-GRID SOLAR MARKET, BY REGION
2 MARKET INTRODUCTION
2.1. DEFINITION
2.2. SCOPE OF THE STUDY
2.3. MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1. RESEARCH PROCESS
3.2. PRIMARY RESEARCH
3.3. SECONDARY RESEARCH
3.4. MARKET SIZE ESTIMATION
3.5. FORECAST MODEL
3.6. LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.1. INTRODUCTION
4.2. DRIVERS
4.2.1. INCREASING SHARE OF SOLAR ENERGY SOURCES IN THE GLOBAL ENERGY MIX
4.2.2. GROWING ADOPTION OF OFF-GRID SOLAR IN DEVELOPING AND RURAL AREAS
4.3. RESTRAINTS
4.3.1. HIGH INITIAL INVESTMENTS
4.4. OPPORTUNITIES
4.4.1. SMALL AND MEDIUM ENTERPRISES (SMES) SWITCHING TO SOLAR ENERGY
5 MARKET FACTOR ANALYSIS
5.1. VALUE CHAIN ANALYSIS/SUPPLY CHAIN ANALYSIS
5.2. PORTER’S FIVE FORCES MODEL
5.2.1. BARGAINING POWER OF SUPPLIERS
5.2.2. BARGAINING POWER OF BUYERS
5.2.3. THREAT OF NEW ENTRANTS
5.2.4. THREAT OF SUBSTITUTES
5.2.5. INTENSITY OF RIVALRY
6 GLOBAL OFF-GRID SOLAR MARKET, BY TYPE
6.1. INTRODUCTION
6.2. SOLAR PANELS
6.3. BATTERIES
6.4. CONTROLLERS
6.5. INVERTERS
7 GLOBAL OFF-GRID SOLAR MARKET, BY APPLICATION
7.1. INTRODUCTION
7.2. RESIDENTIAL
7.3. NON-RESIDENTIAL
8 GLOBAL OFF-GRID SOLAR MARKET, BY REGION
8.1. INTRODUCTION
8.2. NORTH AMERICA
8.2.1. US
8.2.2. CANADA
8.2.3. MEXICO
8.3. EUROPE
8.3.1. GERMANY
8.3.2. UK
8.3.3. FRANCE
8.3.4. REST OF EUROPE
8.4. ASIA-PACIFIC
8.4.1. CHINA
8.4.2. INDIA
8.4.3. INDONESIA
8.4.4. BANGLADESH
8.4.5. REST OF ASIA-PACIFIC
8.5. MIDDLE EAST & AFRICA
8.5.1. SAUDI ARABIA
8.5.2. UAE
8.5.3. ANGOLA
8.5.4. NIGERIA
8.5.5. MOZAMBIQUE
8.5.6. KENYA
8.5.7. UGANDA
8.5.8. SOUTH AFRICA
8.5.9. REST OF MIDDLE EAST & AFRICA
8.6. SOUTH AMERICA
8.6.1. BRAZIL
8.6.2. CHILE
8.6.3. REST OF SOUTH AMERICA
9 COMPETITIVE LANDSCAPE
9.1. INTRODUCTION
9.2. COMPETITIVE OVERVIEW
9.3. COMPETITIVE BENCHMARKING
9.4. MARKET SHARE ANALYSIS
10 COMPANY PROFILES
10.1. ABB
10.1.1. COMPANY OVERVIEW
10.1.2. FINANCIAL OVERVIEW
10.1.3. PRODUCTS/INSTALLATIONS OFFERED
10.1.4. KEY DEVELOPMENTS
10.1.5. SWOT ANALYSIS
10.1.6. KEY STRATEGIES
10.2. SCHNEIDER ELECTRIC
10.2.1. COMPANY OVERVIEW
10.2.2. FINANCIAL OVERVIEW
10.2.3. PRODUCTS/INSTALLATIONS OFFERED
10.2.4. KEY DEVELOPMENTS
10.2.5. SWOT ANALYSIS
10.2.6. KEY STRATEGIES
10.3. CANADIAN SOLAR
10.3.1. COMPANY OVERVIEW
10.3.2. FINANCIAL OVERVIEW
10.3.3. PRODUCTS/INSTALLATIONS OFFERED
10.3.4. KEY DEVELOPMENTS
10.3.5. SWOT ANALYSIS
10.3.6. KEY STRATEGIES
10.4. ENGIE
10.4.1. COMPANY OVERVIEW
10.4.2. FINANCIAL OVERVIEW
10.4.3. PRODUCTS/INSTALLATIONS OFFERED
10.4.4. KEY DEVELOPMENTS
10.4.5. SWOT ANALYSIS
10.4.6. KEY STRATEGIES
10.5. SMA SOLAR TECHNOLOGY AG
10.5.1. COMPANY OVERVIEW
10.5.2. FINANCIAL OVERVIEW
10.5.3. PRODUCTS/INSTALLATIONS OFFERED
10.5.4. KEY DEVELOPMENTS
10.5.5. SWOT ANALYSIS
10.5.6. KEY STRATEGIES
10.6. JINKO SOLAR HOLDING CO., LTD.
10.6.1. COMPANY OVERVIEW
10.6.2. FINANCIAL OVERVIEW
10.6.3. PRODUCTS/INSTALLATIONS OFFERED
10.6.4. KEY DEVELOPMENTS
10.6.5. SWOT ANALYSIS
10.6.6. KEY STRATEGIES
10.7. SUNPOWER CORPORATION
10.7.1. COMPANY OVERVIEW
10.7.2. FINANCIAL OVERVIEW
10.7.3. PRODUCTS/INSTALLATIONS OFFERED
10.7.4. KEY DEVELOPMENTS
10.8. HANWHA GROUP
10.8.1. COMPANY OVERVIEW
10.8.2. FINANCIAL OVERVIEW
10.8.3. PRODUCTS/INSTALLATIONS OFFERED
10.8.4. KEY DEVELOPMENTS
10.9. M-KOPA KENYA
10.9.1. COMPANY OVERVIEW
10.9.2. FINANCIAL OVERVIEW
10.9.3. PRODUCTS/INSTALLATIONS OFFERED
10.9.4. KEY DEVELOPMENTS
10.10. OOLU SOLAR
10.10.1. COMPANY OVERVIEW
10.10.2. FINANCIAL OVERVIEW
10.10.3. PRODUCTS/INSTALLATIONS OFFERED
10.10.4. KEY DEVELOPMENTS
10.11. SOLECTRIA RENEWABLES, LLC
10.11.1. COMPANY OVERVIEW
10.11.2. FINANCIAL OVERVIEW
10.11.3. PRODUCTS/INSTALLATIONS OFFERED
10.11.4. KEY DEVELOPMENTS
10.12. DELTA ELECTRONICS, INC.
10.12.1. COMPANY OVERVIEW
10.12.2. FINANCIAL OVERVIEW
10.12.3. PRODUCTS/INSTALLATIONS OFFERED
10.12.4. KEY DEVELOPMENTS
