Press release
Global Off-Grid Solar Market Study Analysis: Increase In Demand For Energy Across The Globe Is Expected To Grow The Off-Grid Solar Market
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Global Off-Grid Solar Drivers And Restrain:
The major factor driving the growth of the market includes the plenty availability of water resources such as rivers, canals, reservoirs, and ponds. The dam-reservoir are used for hydroelectric power generation and can be easily used for off-grid solar power as the infrastructure used for electricity generation and transportation. Furthermore, the low maintenance and management cost for the installation of off-grid solar is expected to increase the product demand. The production cost of the off-grid solar array is low and therefore the amount of steel that's utilized within the manufacturing of those panels is as compared to conventional panels.
The major factor restraining the growth of the market includes the high installation cost.
Covid-19 Scenario:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window
Global Off-Grid Solar Market Segments:
The global Off-Grid Solar market is further segmented into type, application, and geography.
By Type: Solar Panels, Batteries, Controllers, and Inverters
By Application: Residential and Non-Residential
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa and South America)
U.S. market is expected to hold the largest share on the account of rapid development and utilization of renewable energy sources to fulfill increasing energy requirements. Furthermore, the growing awareness along with financial incentives offered by state governments is expected to boost the growth of the market. The Asia Pacific is projected to witness demand due to the increase in initiatives by emerging economies to install the panel and meet the energy demand. Apart from these, energy consumption is anticipated to increase, due to increasing developmental activities in the region.
Key Players of Global Off-Grid Solar Market:
• Canadian Solar
• Solar Power Rocks LLC
• Yingli Solar
• HelioPower
• SMA Solar Technology
• Greenlight Planet
• Schneider Electric
• Backwoods Solar
• Su-Kam Power Systems
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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Off-Grid Solar Market
• Value Chain Analysis of Global Off-Grid Solar Market
• What is the CAGR of the global Off-Grid Solar Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis
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Evolve Business Intelligence is a market research, business intelligence, and advising service that offers creative solutions to a company's problems. Data beneficial to micro, small, medium, and large-scale businesses can be found in our market research studies. We offer a wide range of services, from data collection to business consulting.
Evolve Business Intelligence is built on account of technology advancement and our in-house AI-modelled data analysis and forecast tool - EvolveBI - provides extremely accurate data. This application tracks real-time statistics from Fortune's Global 2000 firms, including quarterly performance, annual performance, and recent changes.
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