Solar Energy Systems Market by Component (Hardware, Services, Solutions), Technology (Concentrated, Photovoltaic, Thermal Solar), Source, Deployment, End-user - Global Forecast 2023-2030
The Solar Energy Systems Market is projected to reach USD 460.42 billion by 2030 from USD 183.73 billion in 2022, at a CAGR of 12.16% during the forecast period.
Market Segmentation & Coverage:
This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Solar Energy Systems Market.
- Based on Component, market is studied across Hardware, Services, and Solutions. The Hardware is further studied across Batteries, Inverters, Module, and Solar Panels. The Module is further studied across Amorphous Silicon Cells, Cadmium Telluride Silicon Cells, Monocrystalline Silicon Cells, and Polycrystalline Silicon Cells. The Solutions is further studied across Asset Management, Meter Data Management, Network Monitoring, and Remote Metering. The Hardware commanded largest market share of 66.65% in 2022, followed by Services.
- Based on Technology, market is studied across Concentrated, Photovoltaic, and Thermal Solar. The Photovoltaic commanded largest market share of 52.12% in 2022, followed by Concentrated.
- Based on Source, market is studied across MRO and New Installation. The MRO commanded largest market share of 57.88% in 2022, followed by New Installation.
- Based on Deployment, market is studied across Hybrid, Off Grid, and On Grid. The On Grid commanded largest market share of 62.12% in 2022, followed by Hybrid.
- Based on End-user, market is studied across Commercial, Industrial, and Residential. The Commercial commanded largest market share of 60.65% in 2022, followed by Industrial.
- Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.32% in 2022, followed by Asia-Pacific.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is an indispensable tool for assessing the Solar Energy Systems Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.
Market Share Analysis:
The Market Share Analysis offers invaluable insights into the vendor landscape Solar Energy Systems Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.
Key Company Profiles:
The report delves into recent significant developments in the Solar Energy Systems Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Abengoa, Acciona, S.A., Canadian Solar Inc., Complete Solaria Inc., Engie, Enphase Energy, Inc., First Solar, Inc., Hanwha Solutions Corporation, JA SOLAR Technology Co., Ltd., Jiangsu Zhongli Group Co., Ltd., Jinko Solar Co., Ltd., Kaneka Corporation, LONGi Green Energy Technology Co., Ltd., New BrightSource, Ltd., NextEra Energy Resources, LLC., Petronas Group, Reliance Industries Ltd., Risen Energy Co., Ltd., Schneider Electric SE, Sharp Corporation, Siemens AG, SolarEdge Technologies Inc., SunPower Corporation, Suzlon Energy Limited, Tata Power Solar Systems Limited, Trina Solar Co., Ltd., United Renewable Energy LLC, Vivint, Inc., and Yingli Energy Development Co., Ltd..
The report offers valuable insights on the following aspects:
- Market Penetration: It provides comprehensive information about key players' market dynamics and offerings.
- Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.
- Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
- Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
- Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast for the Solar Energy Systems Market?
- Which products, segments, applications, and areas hold the highest investment potential in the Solar Energy Systems Market?
- What is the competitive strategic window for identifying opportunities in the Solar Energy Systems Market?
- What are the latest technology trends and regulatory frameworks in the Solar Energy Systems Market?
- What is the market share of the leading vendors in the Solar Energy Systems Market?
- Which modes and strategic moves are suitable for entering the Solar Energy Systems Market?
Please Note: PDF & Excel + Online Access - 1 Year
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Limitations
- 1.7. Assumptions
- 1.8. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 4.1. Introduction
- 4.2. Solar Energy Systems Market, by Region
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Favorable government incentives and initiatives for solar panel installation
- 5.1.1.2. Increased applications of solar energy for power generation, agriculture, and architecture
- 5.1.2. Restraints
- 5.1.2.1. Associated high cost of building solar energy system
- 5.1.3. Opportunities
- 5.1.3.1. Integration of digital technologies in solar energy systems
- 5.1.3.2. Introduction of floating solar photovoltaic (PV) systems and perovskite solar cells
- 5.1.4. Challenges
- 5.1.4.1. Issues of maintaining solar energy in changing climatic conditions and geographical latitudes
- 5.2. Market Segmentation Analysis
- 5.3. Market Trend Analysis
- 5.3.1. Technological advancements and enhancing regulatory landscape expand the market growth in the Americas.
- 5.3.2. Favorable government support for the expansion of solar energy systems in the Asia-Pacific region.
- 5.3.3. Increasing focus on sustainability and rising solar power generation capacity empowers market growth in EMEA.
- 5.4. Cumulative Impact of COVID-19
- 5.5. Cumulative Impact of Russia-Ukraine Conflict
- 5.6. Cumulative Impact of High Inflation
- 5.7. Porter’s Five Forces Analysis
- 5.7.1. Threat of New Entrants
- 5.7.2. Threat of Substitutes
- 5.7.3. Bargaining Power of Customers
- 5.7.4. Bargaining Power of Suppliers
- 5.7.5. Industry Rivalry
- 5.8. Value Chain & Critical Path Analysis
- 5.9. Regulatory Framework
- 5.10. Client Customization
- 5.10.1. Technology Trend
- 6. Solar Energy Systems Market, by Component
- 6.1. Introduction
- 6.2. Hardware
- 6.3.1. Batteries
- 6.3.2. Inverters
- 6.3.3. Module
- 6.3.4.1. Amorphous Silicon Cells
- 6.3.4.2. Cadmium Telluride Silicon Cells
- 6.3.4.3. Monocrystalline Silicon Cells
- 6.3.4.4. Polycrystalline Silicon Cells
- 6.3.4. Solar Panels
- 6.3. Services
- 6.4. Solutions
- 6.5.1. Asset Management
- 6.5.2. Meter Data Management
- 6.5.3. Network Monitoring
- 6.5.4. Remote Metering
- 7. Solar Energy Systems Market, by Technology
- 7.1. Introduction
- 7.2. Concentrated
- 7.3. Photovoltaic
- 7.4. Thermal Solar
- 8. Solar Energy Systems Market, by Source
- 8.1. Introduction
- 8.2. MRO
- 8.3. New Installation
- 9. Solar Energy Systems Market, by Deployment
- 9.1. Introduction
- 9.2. Hybrid
- 9.3. Off Grid
- 9.4. On Grid
- 10. Solar Energy Systems Market, by End-user
- 10.1. Introduction
- 10.2. Commercial
- 10.3. Industrial
- 10.4. Residential
- 11. Americas Solar Energy Systems Market
- 11.1. Introduction
- 11.2. Argentina
- 11.3. Brazil
- 11.4. Canada
- 11.5. Mexico
- 11.6. United States
- 12. Asia-Pacific Solar Energy Systems Market
- 12.1. Introduction
- 12.2. Australia
- 12.3. China
- 12.4. India
- 12.5. Indonesia
- 12.6. Japan
- 12.7. Malaysia
- 12.8. Philippines
- 12.9. Singapore
- 12.10. South Korea
- 12.11. Taiwan
- 12.12. Thailand
- 12.13. Vietnam
- 13. Europe, Middle East & Africa Solar Energy Systems Market
- 13.1. Introduction
- 13.2. Denmark
- 13.3. Egypt
- 13.4. Finland
- 13.5. France
- 13.6. Germany
- 13.7. Israel
- 13.8. Italy
- 13.9. Netherlands
- 13.10. Nigeria
- 13.11. Norway
- 13.12. Poland
- 13.13. Qatar
- 13.14. Russia
- 13.15. Saudi Arabia
- 13.16. South Africa
- 13.17. Spain
- 13.18. Sweden
- 13.19. Switzerland
- 13.20. Turkey
- 13.21. United Arab Emirates
- 13.22. United Kingdom
- 14. Competitive Landscape
- 14.1. FPNV Positioning Matrix
- 14.2. Market Share Analysis, By Key Player
- 14.3. Competitive Scenario Analysis, By Key Player
- 14.3.1. Merger & Acquisition
- 14.3.1.1. TSG Announces the Acquisition of two Companies Specialized in Solar Energy – JCM Solar and Eco-Cycle Environmental Group – and Consolidates its Position in this Fast-Growing Market
- 14.3.1.2. Ignite Power Acquires Mwezi’s Solar Solutions Portfolio To Expand Footprint In Kenya
- 14.3.1.3. Sol Systems Acquires 190 MW Texas Solar Project from ABEI Energy
- 14.3.2. Agreement, Collaboration, & Partnership
- 14.3.2.1. Nissan Middle East Partners With ENGIE Solutions For New Solar Energy System In Dubai
- 14.3.2.2. Badeel And ACWA Power Sign Power Purchase Agreements For 4.55GWac Solar PV Projects In Saudi Arabia
- 14.3.2.3. Sol Systems and Google Announce Partnership to Invest in Solar Energy Projects and Community Organizations
- 14.3.2.4. Hanwha announces comprehensive battery partnership with LG Energy Solution
- 14.3.3. New Product Launch & Enhancement
- 14.3.3.1. Enphase Energy Launches New Home Energy Management Solution in Germany and Austria
- 14.3.3.2. Panasonic to Launch Solar Kits for Homeowners
- 14.3.3.3. JinkoSolar Launched the Residential Energy Storage System “SUNTANK” in Australia
- 14.3.4. Investment & Funding
- 14.3.4.1. ACWA Power consortium commits USD 2.2 billion for Al-Shuaibah solar projects
- 14.3.5. Award, Recognition, & Expansion
- 14.3.5.1. ACCIONA Energía acquires largest battery storage project in Texas (190MW) and 1GW of bess pipeline
- 15. Competitive Portfolio
- 15.1. Key Company Profiles
- 15.1.1. ABB Ltd.
- 15.1.2. Abengoa
- 15.1.3. Acciona, S.A.
- 15.1.4. Canadian Solar Inc.
- 15.1.5. Complete Solaria Inc.
- 15.1.6. Engie
- 15.1.7. Enphase Energy, Inc.
- 15.1.8. First Solar, Inc.
- 15.1.9. Hanwha Solutions Corporation
- 15.1.10. JA SOLAR Technology Co., Ltd.
- 15.1.11. Jiangsu Zhongli Group Co., Ltd.
- 15.1.12. Jinko Solar Co., Ltd.
- 15.1.13. Kaneka Corporation
- 15.1.14. LONGi Green Energy Technology Co., Ltd.
- 15.1.15. New BrightSource, Ltd.
- 15.1.16. NextEra Energy Resources, LLC.
- 15.1.17. Petronas Group
- 15.1.18. Reliance Industries Ltd.
- 15.1.19. Risen Energy Co., Ltd.
- 15.1.20. Schneider Electric SE
- 15.1.21. Sharp Corporation
- 15.1.22. Siemens AG
- 15.1.23. SolarEdge Technologies Inc.
- 15.1.24. SunPower Corporation
- 15.1.25. Suzlon Energy Limited
- 15.1.26. Tata Power Solar Systems Limited
- 15.1.27. Trina Solar Co., Ltd.
- 15.1.28. United Renewable Energy LLC
- 15.1.29. Vivint, Inc.
- 15.1.30. Yingli Energy Development Co., Ltd.
- 15.2. Key Product Portfolio
- 16. Appendix
- 16.1. Discussion Guide
- 16.2. License & Pricing
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