Press release
Global Rooftop Solar PV Installations to See Strong Growth in Residential Sector, reports TMR
Asia Pacific Takes the Baton from North America to Lead Global MarketThe report states that the opportunity in the global rooftop solar PV market will be worth US$4.58 bn by 2023 growing from its 2014 valuation of US$1.79 bn in 2014, as the market is anticipated to expand at a CAGR of 11% between 2015 and 2023. The residential buildings segment will be the leading end users of rooftop PV solar systems as the segment is anticipated to exhibit a CAGR of 11.4% between 2015 and 2023. North America is estimated to be the largest regional segment of the global market until the end of the forecast period; however, Asia Pacific is an emerging segment as it is projected to rise at a CAGR of 11.5% during the forecast period. By the end of 2023, the Asia Pacific rooftop solar PV market will be worth US$1.09 bn.
The top five leading players in the global rooftop solar PV market as of 2014 were Trina Solar, Yingli Green Energy Holding Company Limited, Jinko Solar, Canadian Solar, and SunPower. The cumulative share of these players amounted to 43% in 2014, says Transparency Market Research in a new report. Leading players are focusing on expanding their research and development facilities to develop new products to maintain their domination in the global market, observes TMR.
“Companies should work towards realigning their strategies to incorporate vertical integration of their operations to create a strong base of efficient and competitive services,” states the lead author of this research report. Mergers and acquisitions will also be considered by several players to establish their footprint across various other geographical regions and to absorb research and development facilities to improve technical support. TMR recommends players to consider bringing down costs for the price-sensitive countries in developing regions that have a higher need of alternative sources energy to reduce their carbon footprint.
Download Free Research Report Brochure : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3160
Tax Benefits and Energy-efficiency of Solar Systems Augment Growth
A large number of commercial and residential spaces are opting for rooftop solar PV systems as they are easy to install and offer an energy-efficient solution to the ongoing energy crisis. Due to technological advancements and wide acceptance of rooftop solar PV systems, these are being used as primary sources of energy instead of alternative sources. The ideal lifespan of rooftop solar PV is over 30 years, which is a strong factor supporting the adoption of these systems in various sectors. The incentives such as tax credits and rebates offered by governments for opting for solar energy as against conventional energy is also bolstering the growth of this market.
Lack of Smart Grid Infrastructure to Dent Demand for Rooftop Solar PV Systems
The lack of smart grid infrastructure is the biggest hurdle in the mass adoption of rooftop solar PV systems. Thus, they still remain a viable option for individual usage purpose than for a large-scale energy supply. This is also hampering the transmission of solar power for electricity purposes. The market is also being held back by the negative sentiment surrounding the net metering policies for this setup.
Key Takeaways:
Global rooftop solar PV market to reach a valuation of US$4,584.3 mn by 2023
North America leads global market; Asia Pacific also emerges as a prominent regional segment with an 11.5% CAGR 2015-2023
Residential sector to be the largest end-use segment of the global market, expanding at a CAGR of 11.4% 2015-2023
The global rooftop solar PV market has been segmented as follows:
Rooftop Solar PV Market: By End-use
Residential
Commercial
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Rooftop Solar PV Installations to See Strong Growth in Residential Sector, reports TMR here
News-ID: 356788 • Views: …
More Releases from TMR Research Report
Olive Oil Market - Global Industry Analysis, Forecast 2016 – 2024
Olive oil, an edible oil is being increasingly consumed by people from across the globe. Considering its nutritional value and the taste, olive oil is being consumed by a big pool of the global population. The market offers various types of olive oils such as extra virgin olive oil, light olive oil, pure olive oil, virgin olive oil, olive pomace oil, and refined olive oil. At present, the extra virgin…
Iraq Edible Oils and Fats Market is Expected to Reach US$2.3 bn by 2025, Expandi …
The Iraq edible oils and fats market is extremely fragmented and the top seven players accounted for just under 90% of the overall market in 2015. These companies are Marsan Gida San Ve Tic A.S., Anadolu Group, Altunkaya Group of Companies, Zer Group, Aves A.S., Yildiz Holding, and Keskinoglu Ic Ve Dis Ticaret Ltd.
Transparency Market Research has identified some of the successful strategies adopted by these enterprises in order…
Government Support and Encouraging Regulations to be Key Growth Drivers for Glob …
In the highly fragmented competitive landscape of the global biomass boilers market, none of the leading companies accounted for a share of over 10% in the overall market in 2014, observes Transparency Market Research in a recent report. The top six companies in the market, including Baxi Group Limited, ETA Heiztechnik GmbH, Polytechnik Group, and Babcock & Wilcox Enterprises, Inc., collectively accounted for a relatively moderate 40% share in the…
Wearable Technology Market to Show Unprecedented CAGR of 42.1% With Rising Trend …
While advances in material sciences in Europe have helped achieve unprecedented compactness in wearable devices, their adoption has received a boost because of their increasingly easy-to-use features. The prices of wearable technology products, however, continue to remain a hindrance to the growth of the European wearable technology market. The development of wearables for healthcare and fitness applications is a key opportunity that hitherto remains comparatively unexploited. By focusing on this…
More Releases for Solar
Biohybrid Solar Cell Market Professional Survey Report 2022 - Jinko Solar, JA SO …
The Biohybrid Solar Cell Market Report 2022 provides a comprehensive analysis of observable trends and projections. This research shows how to attract a large number of customers. Our certified crew of economists, researchers, and advisers has made further attempts in projecting the global industry by utilising accredited global Biohybrid Solar Cell market information tools as well as various instruments and ways to successfully review and get information. The research argues…
Home Solar Power System Market Size, Share, Trends, Growth - Tesla, Panasonic So …
The Global Home Solar Power System Market study includes new innovations, market dynamics, strategic profiling in terms of the future market strategies and shares for the subsectors of the industry. This research consists of details related to the size of the industries, the major players, markets, sales volume and value. This study offers a detail data on the historical data pointers as well as forecasts by region/country for the sectors…
Solar PV Module Market Outlook To 2024 - Trina Solar, Canadian Solar Inc., JA So …
Solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam's Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects. Ongoing electrification programs and incentives benefit pertaining to grid connected power generation is surging the demand for on-grid solar PV modules. On-grid connection represented 55% of the overall solar…
Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others.
This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such…
Solar PV Module Market By Key Vendors: Trina Solar, Canadian Solar Inc., JA Sola …
UK solar PV module market is set to expand owing to government initiatives towards sustainable energy integration. The export tariff introduced by the UK government facilitates USD 0.06 per unit for the surplus electricity injected back to the grid by the generator. Favorable government reforms with ambitious plan towards carbon footprint reduction will further boost the business outlook.
Request for a sample of this research report @
https://www.gminsights.com/request-sample/detail/1563
Solar PV Module Market size…
Global Solar Thermal Market 2016 Abengoa Solar, SUPCON Solar, Solar Euromed
Global Solar Thermal Market Research Report
The MRS Research Group Solar Thermal report by QY Research represents an inclusive evaluation of the Solar Thermal Market and comprises considerable insights, historical data, facts,and statistical and industry-validated data of the global market.Additionally,it consists of estimated data that is evaluated with the help of suitable set of methodologies and assumptions.The MRS Research Group report research highlights informative data and in-depth analysis of Solar Thermal…
