Off-Grid Solar Market 2019 Competitive Landscape, And Regional Forecast To 2023

Posted May 23, 2019 by DhanashreeP

Off-Grid Solar Market Research Report: Information by Type (Up to 10 W, 11-50 W, 51-100 W, and Above 100 W), Application (Residential, Commercial, and Industrial), and Region
Off-grid solar is a system that allow the users to store their solar power batteries for use when the power grid goes down. The off-grid provide power to offset the grid power whenever the sun is visible and also send excess power to the grid for later use. The major end-users for the off-grid solar system are the households that lack access to electricity connection to the national or main grid. These households form a potential customer base for off-grid devices.

The global off-grid solar market is set to witness significant growth due to Rising population in the countries such as India and China are mainly driving the off-grid solar market. The implementation of off-grid devices in the region is also driven by increased availability and affordability of small solar devices such as solar lights and lighting kits. Moreover, the major issue of electrification in the region is being tackled through various solar products with tailored solutions. For instance, stand-alone solar products in the region involves catering to various applications such as solar home systems, and community lighting solutions, among others.

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Segmental Overview

The off-grid solar market has been segmented based on application into as residential, commercial, and industrial. Residential segment is expected to dominate the market during the forecast period due to rising use of off-grid solar system as source of back-up power. Industrial segment is also the prominent segment as most of the industries are located in remote areas where the connection from the main or national grid keeps on fluctuating.

Key Players

The key players of the global off-grid solar market are Schneider Electric, SMA Solar Technology, Canadaian Solar, Yingli Solar, Su-Kam Power Systems, Backwoods Solar, HelioPower, Solar Power Rocks, Greenlight Planet, and Off Grid By Design.

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Scope of the Report

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global off-grid solar market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.

Regional Outlook

Region wise, Asia Pacific held the largest market share of the global off-grid solar market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in renewable energy sources and high demand for off-grid solar systems by the residential sector. The off-grid solar market would be mainly driven by the favorable government regulations against greenhouse gas emissions.

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Issued By MRFR
Country India
Categories Energy
Tags offgrid solar market , offgrid solar market analysis , offgrid solar market demand , offgrid solar market trends
Last Updated May 23, 2019