Press release
Off-Grid Solar Market: Key Mergers and Growth Prospects
Off-Grid Solar Market
๐๐ง๐ญ๐ซ๐ข๐ ๐ฎ๐๐ ๐ญ๐จ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐จ๐ง๐ญ๐๐ง๐ญ๐ฌ? ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ก๐๐ง๐๐ฌ-๐จ๐ง ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/request-sample/67207/
๐๐ข๐๐ญ๐ง๐๐ฆ: ๐๐๐-๐๐ซ๐ข๐ ๐๐จ๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ข๐๐ญ๐ง๐๐ฆ
Vietnam has emerged as a prominent player in the off-grid solar market, with the government prioritizing rural electrification and renewable energy projects. Recent collaborations between ๐๐ฎ๐ง๐๐จ๐ฐ๐๐ซ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง and local Vietnamese companies have enhanced the country's solar infrastructure. The Vietnamese government's support through incentives and subsidies is further propelling the market.
Key merger: The partnership between ๐ ๐ข๐ซ๐ฌ๐ญ ๐๐จ๐ฅ๐๐ซ and a local energy firm is aimed at enhancing solar distribution networks in underserved regions.
๐๐ก๐๐ข๐ฅ๐๐ง๐: ๐๐๐-๐๐ซ๐ข๐ ๐๐จ๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐ก๐๐ข๐ฅ๐๐ง๐
Thailand's solar market is expanding rapidly due to its strategic renewable energy policies under the Alternative Energy Development Plan. The Thai market saw significant investments in 2023, including a $50 million project by ๐๐ซ๐ข๐ง๐ ๐๐จ๐ฅ๐๐ซ to deploy off-grid solutions in rural provinces.
Key development: The merger of ๐๐ก๐๐ซ๐ฉ ๐๐ง๐๐ซ๐ ๐ฒ ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ with a Thai energy startup is focused on integrating advanced solar technologies into the existing grid infrastructure.
๐๐๐ฉ๐๐ง: ๐๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ง๐๐ซ๐ ๐ฒ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐๐ฉ๐๐ง
Japan's off-grid solar market has witnessed notable consolidation activities as companies strive to meet the government's 2030 renewable energy goals. ๐๐๐ง๐๐ฌ๐จ๐ง๐ข๐ has invested heavily in developing off-grid solutions for remote islands.
Key acquisition: The acquisition of ๐๐ฒ๐จ๐๐๐ซ๐ ๐๐จ๐ฅ๐๐ซ'๐ฌ assets by ๐๐จ๐ฅ๐๐ซ ๐ ๐ซ๐จ๐ง๐ญ๐ข๐๐ซ aims to improve the efficiency of off-grid systems while reducing costs.
๐๐จ๐ฎ๐ญ๐ก ๐๐จ๐ซ๐๐: ๐๐๐-๐๐ซ๐ข๐ ๐๐จ๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐จ๐ฎ๐ญ๐ก ๐๐จ๐ซ๐๐
South Korea's transition to clean energy is driven by its "Renewable Energy 3020" initiative. The off-grid market has grown significantly with the support of advanced technologies developed by ๐๐๐ง๐ฐ๐ก๐ ๐ ๐๐๐๐๐
Key development: South Korea has partnered with ๐๐ ๐๐ฅ๐๐๐ญ๐ซ๐จ๐ง๐ข๐๐ฌ to develop smart off-grid solar solutions for industrial applications, particularly in the defense and telecom sectors.
๐๐ข๐ง๐ ๐๐ฉ๐จ๐ซ๐: ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐๐จ๐ซ ๐๐จ๐ฅ๐๐ซ ๐๐ง๐๐ซ๐ ๐ฒ ๐ข๐ง ๐๐ข๐ง๐ ๐๐ฉ๐จ๐ซ๐
Singapore is focusing on achieving its Green Plan 2030 goals, making substantial investments in solar technology. ๐๐๐ ๐๐ซ๐จ๐ฎ๐ฉ is a key player in the market, supplying off-grid solutions tailored for urban environments.
Key merger: The collaboration between ๐๐ฎ๐ง๐ญ๐๐๐ก ๐๐จ๐ฐ๐๐ซ and a Singapore-based logistics company is aimed at deploying solar-powered cold storage units.
๐๐๐ญ๐๐ข๐ง ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/67207/
๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ: ๐๐๐-๐๐ซ๐ข๐ ๐๐จ๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐ญ๐ก๐ ๐๐
The US off-grid solar market is experiencing exponential growth due to favorable policies and a rise in demand for sustainable energy. The Inflation Reduction Act has encouraged investments, with ๐๐๐ฌ๐ฅ๐ leading in developing off-grid solar products.
Key acquisition: NextEra Energy Resources acquired a significant share in a Texas-based solar firm, enhancing its off-grid solutions portfolio.
๐๐ฎ๐ซ๐จ๐ฉ๐: ๐๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐ฎ๐ซ๐จ๐ฉ๐
Europe is at the forefront of the global solar market, with countries like Germany, Spain, and Italy heavily investing in off-grid solar systems. ๐๐ง๐๐ฅ ๐๐ซ๐๐๐ง ๐๐จ๐ฐ๐๐ซ has developed innovative community solar projects across rural Europe.
Key development: The merger between ๐๐ข๐๐ฆ๐๐ง๐ฌ ๐๐๐ฆ๐๐ฌ๐ and a Dutch solar technology firm has led to groundbreaking advancements in battery-integrated off-grid systems.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐ญ๐ ๐๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ฒ ๐ฏ๐ข๐๐ฐ๐ข๐ง๐ ๐ญ๐ก๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐: https://www.maximizemarketresearch.com/request-sample/67207/
๐๐๐-๐๐ซ๐ข๐ ๐๐จ๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ฒ ๐๐ฒ๐ฉ๐ ๐จ๐ ๐ฉ๐จ๐ฐ๐๐ซ ๐ซ๐๐ญ๐ข๐ง๐
Up to 10KW
11KW-51KW
51KW-100KW
Above 100KW
The global off-grid solar market is segmented into Up to 10KW, 11KW-50KW, 51KW-100KW, and above 100KW used in various areas for consumption. Electricity consumption in all over countries on an average is forecasted to reach 1580GW by 2030. Therefore, it requires to set a target for reaching a renewable energy generation capacity of 225gw by 2024. Due to the price drop on panels in the last few years, setting up solar technology systems in residential buildings and business organizations.
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Residential
Commercial
Industrial
Utilities
The off-grid solar market is divided into four applications: residential, commercial, industrial, and utility. The Industrial segment had the biggest market share, accounting for 40% in 2023. The industrial segment includes small, medium, and big production and manufacturing enterprises, as well as construction sites. During the projection period, the residential category is expected to grow the fastest. Consumers who prefer to avoid contracts with utility companies in favor of off-grid solar PV panels while preserving the freedom to fulfill their own energy needs are predicted to fuel the rapid rise.
๐๐ฒ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ
Crystalline Silicon
Thin layer film
๐๐จ๐จ๐ค๐ข๐ง๐ ๐ญ๐จ ๐ ๐๐ข๐ง ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง๐ญ๐จ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ญ๐ซ๐๐ง๐๐ฌ? ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/market-report/off-grid-solar-market/67207/
๐๐๐-๐๐ซ๐ข๐ ๐๐จ๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1. Schneider Electric
2. SMA Solar Technology
3. Canadian Solar
4. Yingli Solar
5. Su-Kam Power System
6. Backwoods Solar
7. Helio Power
8. Delta Electronics
9. Outback Power Inc.
10.Solar Power Rocks
๐๐ข๐ฌ๐๐จ๐ฏ๐๐ซ ๐๐ก๐๐ญ'๐ฌ ๐๐ซ๐๐ง๐๐ข๐ง๐ :
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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