The global solar roofing market size was valued at $59.4 billion in 2021 and is projected to reach $241.6 billion by 2031, with a CAGR of 15.1% from 2022 to 2031.
Solar roof is made up of several components such as PV tiles, non-PV tiles, and metal flashings that improve the aesthetics of your roof and solar inverters. These components work together to harvest sunlight and convert it to DC electricity, which may then be utilized to power appliances.
Global population growth and rapid industrialization have increased the demand for power. The increased public awareness of power generation using renewable energy sources is expected to drive the solar roofing industry. The increase in the investment of the government and private institutions toward the utilization of efficient solar energy is anticipated to boost the market. In 2021, the industrial sector accounted for 35% of the total U. S. end-use energy consumption. Hence, rapid industrialization across the world is projected to increase the electricity demand. The increase in electricity demand has led to the development of green energy sources such as building integrated solar. Growing environmental concerns as a result of strict laws to reduce GHG emissions have forced companies to adopt effective energy conservation measures. The implementation of stringent government regulations to control carbon footprints has encouraged industries to choose integration with effective energy conservation methods, which has led to the rapid expansion of the solar roofing market during the forecast period. The presence of these advantages has driven the demand for the solar roofing market.
The presence of huge installation costs and the need for maintenance of solar panels mounted on roofs hamper the market growth. Furthermore, solar technology serves as an ideal option for various end-use applications and high capital costs associated with solar installations as compared to other emerging renewable technologies restrain the growth of the market.
Rural electrification is the process of bringing electrical power to rural and remote areas. Rural communities are suffering from colossal market failures as the national grids are short of their demand for electricity. It typically begins in cities & towns and gradually extends to rural areas; however, this process often runs into obstacles in developing nations. In order to drastically increase electrification rates, the Indian Government has set the target of 175GW of installed renewable energy by 2022 and mandated the electrification of over 18,000 villages through “JNN solar mission” and “Pradhan Mantri Gram Vidyut Yojana” programs that are expected to provide good market opportunity for the development of solar roofing market during the forecast period.
Crystalline Silicon type solar cell is one of the most widely used semiconductor materials in photovoltaic (PV) technology to manufacture solar cells and is made of highly pure silicon wafers that are further used to convert solar energy into electrical energy. C-Si occupies more than half of the total PV market revenue owing to its benefits and improved efficiency. Monocrystalline Si solar cell technology is widely used in rooftop solar panels to convert the highest amount of solar energy into electricity, owing to its properties such as higher efficiency to generate electricity, long service life, and lower installation cost. An increase in demand for rooftop solar panels for the generation of electricity and implementation of government regulations to reduce dependency on the usage of fossil fuels to curb carbon emissions across countries such as the U. S., Germany, France, Spain, India, and China are anticipated to boost the demand for mono-Si solar cell technology.
On-grid type is a solar energy system that uses photovoltaic modules to generate electricity. The on-grid type of systems are connected to the electric grid and used to supply power to it. These systems can be easily integrated with the existing power grid as they use renewable sources of energy for generating electricity, which reduces carbon dioxide emissions into the atmosphere.
Asia-Pacific accounted for a significant share of the global market revenue in 2021. Asia-Pacific is the largest consumer in the global solar roofing market owing to the presence of key developing economies such as China, India, and Japan, which registered the highest market share in the solar roofing market in the year 2021. In addition, Europe is the second largest market share region for this market. The solar energy share in total electricity production of Europe for 2021 was 14.0%. The increase in the production of solar energy in Europe is attributed to the surge in the installation of BIPV systems. The rise in construction activities has led to an increase in the installation of BIPV systems to generate electricity to meet emergency power needs. In addition, the implementation of stringent environmental regulations to reduce carbon emissions is expected to increase the demand for solar roofing across Europe.
The solar roofing market is segmented based on type, grid type, installation type, and region. On the basis of type, the market is fragmented into thin-film, crystalline, and others. Thin film segment is further divided into CdTe, a-Si, and CI(G)S, while crystalline segment is further bifurcated into multi-Si and mono-Si. By grid type, the market is classified into on grid and off-grid. By installation type, the market is categorized into residential, commercial, and utility-scale. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe, North America, and LAMEA.
The major companies profiled in this report are JinkoSolar, JA Solar, Trina Solar, LONGi Solar, Canadian Solar, First Solar, SunPower Corporation, Indosolar, Hanwha Q-cells, and E-Ton Solar. The decline in the cost price of solar panels and increase in the awareness among the people regarding the advantages of utilization of rooftop solar panels have positive impact on the solar roofing market. Additional growth strategies such as an expansion of storage capacities, acquisition, partnership, and research & innovation in the optimization and improvement in the efficiency and reliability of sodium-ion batteries have led to attaining key developments in the global solar roofing market trends.
Solar roof is made up of several components such as PV tiles, non-PV tiles, and metal flashings that improve the aesthetics of your roof and solar inverters. These components work together to harvest sunlight and convert it to DC electricity, which may then be utilized to power appliances.
Global population growth and rapid industrialization have increased the demand for power. The increased public awareness of power generation using renewable energy sources is expected to drive the solar roofing industry. The increase in the investment of the government and private institutions toward the utilization of efficient solar energy is anticipated to boost the market. In 2021, the industrial sector accounted for 35% of the total U. S. end-use energy consumption. Hence, rapid industrialization across the world is projected to increase the electricity demand. The increase in electricity demand has led to the development of green energy sources such as building integrated solar. Growing environmental concerns as a result of strict laws to reduce GHG emissions have forced companies to adopt effective energy conservation measures. The implementation of stringent government regulations to control carbon footprints has encouraged industries to choose integration with effective energy conservation methods, which has led to the rapid expansion of the solar roofing market during the forecast period. The presence of these advantages has driven the demand for the solar roofing market.
The presence of huge installation costs and the need for maintenance of solar panels mounted on roofs hamper the market growth. Furthermore, solar technology serves as an ideal option for various end-use applications and high capital costs associated with solar installations as compared to other emerging renewable technologies restrain the growth of the market.
Rural electrification is the process of bringing electrical power to rural and remote areas. Rural communities are suffering from colossal market failures as the national grids are short of their demand for electricity. It typically begins in cities & towns and gradually extends to rural areas; however, this process often runs into obstacles in developing nations. In order to drastically increase electrification rates, the Indian Government has set the target of 175GW of installed renewable energy by 2022 and mandated the electrification of over 18,000 villages through “JNN solar mission” and “Pradhan Mantri Gram Vidyut Yojana” programs that are expected to provide good market opportunity for the development of solar roofing market during the forecast period.
Crystalline Silicon type solar cell is one of the most widely used semiconductor materials in photovoltaic (PV) technology to manufacture solar cells and is made of highly pure silicon wafers that are further used to convert solar energy into electrical energy. C-Si occupies more than half of the total PV market revenue owing to its benefits and improved efficiency. Monocrystalline Si solar cell technology is widely used in rooftop solar panels to convert the highest amount of solar energy into electricity, owing to its properties such as higher efficiency to generate electricity, long service life, and lower installation cost. An increase in demand for rooftop solar panels for the generation of electricity and implementation of government regulations to reduce dependency on the usage of fossil fuels to curb carbon emissions across countries such as the U. S., Germany, France, Spain, India, and China are anticipated to boost the demand for mono-Si solar cell technology.
On-grid type is a solar energy system that uses photovoltaic modules to generate electricity. The on-grid type of systems are connected to the electric grid and used to supply power to it. These systems can be easily integrated with the existing power grid as they use renewable sources of energy for generating electricity, which reduces carbon dioxide emissions into the atmosphere.
Asia-Pacific accounted for a significant share of the global market revenue in 2021. Asia-Pacific is the largest consumer in the global solar roofing market owing to the presence of key developing economies such as China, India, and Japan, which registered the highest market share in the solar roofing market in the year 2021. In addition, Europe is the second largest market share region for this market. The solar energy share in total electricity production of Europe for 2021 was 14.0%. The increase in the production of solar energy in Europe is attributed to the surge in the installation of BIPV systems. The rise in construction activities has led to an increase in the installation of BIPV systems to generate electricity to meet emergency power needs. In addition, the implementation of stringent environmental regulations to reduce carbon emissions is expected to increase the demand for solar roofing across Europe.
The solar roofing market is segmented based on type, grid type, installation type, and region. On the basis of type, the market is fragmented into thin-film, crystalline, and others. Thin film segment is further divided into CdTe, a-Si, and CI(G)S, while crystalline segment is further bifurcated into multi-Si and mono-Si. By grid type, the market is classified into on grid and off-grid. By installation type, the market is categorized into residential, commercial, and utility-scale. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe, North America, and LAMEA.
Impact of Covid-19 on Global Solar Roofing Market
Post lockdown, the industry is expected to deal with the aftereffects as new solar roofing is not a necessity for consumers. With consumers dealing with several financial problems, solar roofing will be the least priority on their list resulting to a delay in the decisions with context the installation of solar rooftops.Competitive Landscape
The major companies profiled in this report are JinkoSolar, JA Solar, Trina Solar, LONGi Solar, Canadian Solar, First Solar, SunPower Corporation, Indosolar, Hanwha Q-cells, and E-Ton Solar. The decline in the cost price of solar panels and increase in the awareness among the people regarding the advantages of utilization of rooftop solar panels have positive impact on the solar roofing market. Additional growth strategies such as an expansion of storage capacities, acquisition, partnership, and research & innovation in the optimization and improvement in the efficiency and reliability of sodium-ion batteries have led to attaining key developments in the global solar roofing market trends.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar roofing market analysis from 2021 to 2031 to identify the prevailing solar roofing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the solar roofing market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global solar roofing market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Installation Type
- Residential
- Commercial
- Utility-Scale
By Type
- Thin film
- Type
- CdTe
- a-Si
- CI(G)S
- Crystalline
- Type
- Multi-Si
- Mono-Si
- Others
By Grid Type
- On-Grid
- Off-Grid
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- Spain
- UK
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Chile
- South Africa
- Rest of LAMEA
Key Market Players
- First Solar, Inc.
- Hanwha Q-cells
- LONGi
- Trina solar
- JA Solar
- SunPower Corporation
- Indosolar Ltd
- Canadian Solar
- e-ton solar
- JinkoSolar Holding Co., Ltd.
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. xx
3.4.2. Restraints
3.4.2.1. xx
3.4.3. Opportunities
3.4.3.1. xx
3.5. COVID-19 Impact Analysis on the market
3.6. Value Chain Analysis
3.7. Key Regulation Analysis
3.8. Patent Landscape
CHAPTER 4: SOLAR ROOFING MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2. Thin film
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.2.4 Thin film Solar Roofing Market by Type
4.2.4.1 CdTe Market size and forecast, by region
4.2.4.2 CdTe Market size and forecast, by country
4.2.4.3 a-Si Market size and forecast, by region
4.2.4.4 a-Si Market size and forecast, by country
4.2.4.5 CI(G)S Market size and forecast, by region
4.2.4.6 CI(G)S Market size and forecast, by country
4.3. Crystalline
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.3.4 Crystalline Solar Roofing Market by Type
4.3.4.1 Multi-Si Market size and forecast, by region
4.3.4.2 Multi-Si Market size and forecast, by country
4.3.4.3 Mono-Si Market size and forecast, by region
4.3.4.4 Mono-Si Market size and forecast, by country
4.4. Others
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
CHAPTER 5: SOLAR ROOFING MARKET, BY GRID TYPE
5.1 Overview
5.1.1 Market size and forecast
5.2. On-Grid
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3. Off-Grid
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
CHAPTER 6: SOLAR ROOFING MARKET, BY INSTALLATION TYPE
6.1 Overview
6.1.1 Market size and forecast
6.2. Residential
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3. Commercial
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
6.4. Utility-Scale
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market share analysis by country
CHAPTER 7: SOLAR ROOFING MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Type
7.2.2.1 North America Thin film Solar Roofing Market by Type
7.2.2.2 North America Crystalline Solar Roofing Market by Type
7.2.3 North America Market size and forecast, by Grid Type
7.2.4 North America Market size and forecast, by Installation Type
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Key market trends, growth factors and opportunities
7.2.5.1.2 Market size and forecast, by Type
7.2.5.1.2.1 U. S. Thin film Solar Roofing Market by Type
7.2.5.1.2.2 U. S. Crystalline Solar Roofing Market by Type
7.2.5.1.3 Market size and forecast, by Grid Type
7.2.5.1.4 Market size and forecast, by Installation Type
7.2.5.2 Canada
7.2.5.2.1 Key market trends, growth factors and opportunities
7.2.5.2.2 Market size and forecast, by Type
7.2.5.2.2.1 Canada Thin film Solar Roofing Market by Type
7.2.5.2.2.2 Canada Crystalline Solar Roofing Market by Type
7.2.5.2.3 Market size and forecast, by Grid Type
7.2.5.2.4 Market size and forecast, by Installation Type
7.2.5.3 Mexico
7.2.5.3.1 Key market trends, growth factors and opportunities
7.2.5.3.2 Market size and forecast, by Type
7.2.5.3.2.1 Mexico Thin film Solar Roofing Market by Type
7.2.5.3.2.2 Mexico Crystalline Solar Roofing Market by Type
7.2.5.3.3 Market size and forecast, by Grid Type
7.2.5.3.4 Market size and forecast, by Installation Type
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Type
7.3.2.1 Europe Thin film Solar Roofing Market by Type
7.3.2.2 Europe Crystalline Solar Roofing Market by Type
7.3.3 Europe Market size and forecast, by Grid Type
7.3.4 Europe Market size and forecast, by Installation Type
7.3.5 Europe Market size and forecast, by country
7.3.5.1 Germany
7.3.5.1.1 Key market trends, growth factors and opportunities
7.3.5.1.2 Market size and forecast, by Type
7.3.5.1.2.1 Germany Thin film Solar Roofing Market by Type
7.3.5.1.2.2 Germany Crystalline Solar Roofing Market by Type
7.3.5.1.3 Market size and forecast, by Grid Type
7.3.5.1.4 Market size and forecast, by Installation Type
7.3.5.2 Italy
7.3.5.2.1 Key market trends, growth factors and opportunities
7.3.5.2.2 Market size and forecast, by Type
7.3.5.2.2.1 Italy Thin film Solar Roofing Market by Type
7.3.5.2.2.2 Italy Crystalline Solar Roofing Market by Type
7.3.5.2.3 Market size and forecast, by Grid Type
7.3.5.2.4 Market size and forecast, by Installation Type
7.3.5.3 Spain
7.3.5.3.1 Key market trends, growth factors and opportunities
7.3.5.3.2 Market size and forecast, by Type
7.3.5.3.2.1 Spain Thin film Solar Roofing Market by Type
7.3.5.3.2.2 Spain Crystalline Solar Roofing Market by Type
7.3.5.3.3 Market size and forecast, by Grid Type
7.3.5.3.4 Market size and forecast, by Installation Type
7.3.5.4 UK
7.3.5.4.1 Key market trends, growth factors and opportunities
7.3.5.4.2 Market size and forecast, by Type
7.3.5.4.2.1 UK Thin film Solar Roofing Market by Type
7.3.5.4.2.2 UK Crystalline Solar Roofing Market by Type
7.3.5.4.3 Market size and forecast, by Grid Type
7.3.5.4.4 Market size and forecast, by Installation Type
7.3.5.5 France
7.3.5.5.1 Key market trends, growth factors and opportunities
7.3.5.5.2 Market size and forecast, by Type
7.3.5.5.2.1 France Thin film Solar Roofing Market by Type
7.3.5.5.2.2 France Crystalline Solar Roofing Market by Type
7.3.5.5.3 Market size and forecast, by Grid Type
7.3.5.5.4 Market size and forecast, by Installation Type
7.3.5.6 Rest of Europe
7.3.5.6.1 Key market trends, growth factors and opportunities
7.3.5.6.2 Market size and forecast, by Type
7.3.5.6.2.1 Rest of Europe Thin film Solar Roofing Market by Type
7.3.5.6.2.2 Rest of Europe Crystalline Solar Roofing Market by Type
7.3.5.6.3 Market size and forecast, by Grid Type
7.3.5.6.4 Market size and forecast, by Installation Type
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Type
7.4.2.1 Asia-Pacific Thin film Solar Roofing Market by Type
7.4.2.2 Asia-Pacific Crystalline Solar Roofing Market by Type
7.4.3 Asia-Pacific Market size and forecast, by Grid Type
7.4.4 Asia-Pacific Market size and forecast, by Installation Type
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Key market trends, growth factors and opportunities
7.4.5.1.2 Market size and forecast, by Type
7.4.5.1.2.1 China Thin film Solar Roofing Market by Type
7.4.5.1.2.2 China Crystalline Solar Roofing Market by Type
7.4.5.1.3 Market size and forecast, by Grid Type
7.4.5.1.4 Market size and forecast, by Installation Type
7.4.5.2 Japan
7.4.5.2.1 Key market trends, growth factors and opportunities
7.4.5.2.2 Market size and forecast, by Type
7.4.5.2.2.1 Japan Thin film Solar Roofing Market by Type
7.4.5.2.2.2 Japan Crystalline Solar Roofing Market by Type
7.4.5.2.3 Market size and forecast, by Grid Type
7.4.5.2.4 Market size and forecast, by Installation Type
7.4.5.3 India
7.4.5.3.1 Key market trends, growth factors and opportunities
7.4.5.3.2 Market size and forecast, by Type
7.4.5.3.2.1 India Thin film Solar Roofing Market by Type
7.4.5.3.2.2 India Crystalline Solar Roofing Market by Type
7.4.5.3.3 Market size and forecast, by Grid Type
7.4.5.3.4 Market size and forecast, by Installation Type
7.4.5.4 South Korea
7.4.5.4.1 Key market trends, growth factors and opportunities
7.4.5.4.2 Market size and forecast, by Type
7.4.5.4.2.1 South Korea Thin film Solar Roofing Market by Type
7.4.5.4.2.2 South Korea Crystalline Solar Roofing Market by Type
7.4.5.4.3 Market size and forecast, by Grid Type
7.4.5.4.4 Market size and forecast, by Installation Type
7.4.5.5 Rest of Asia-Pacific
7.4.5.5.1 Key market trends, growth factors and opportunities
7.4.5.5.2 Market size and forecast, by Type
7.4.5.5.2.1 Rest of Asia-Pacific Thin film Solar Roofing Market by Type
7.4.5.5.2.2 Rest of Asia-Pacific Crystalline Solar Roofing Market by Type
7.4.5.5.3 Market size and forecast, by Grid Type
7.4.5.5.4 Market size and forecast, by Installation Type
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Type
7.5.2.1 LAMEA Thin film Solar Roofing Market by Type
7.5.2.2 LAMEA Crystalline Solar Roofing Market by Type
7.5.3 LAMEA Market size and forecast, by Grid Type
7.5.4 LAMEA Market size and forecast, by Installation Type
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Brazil
7.5.5.1.1 Key market trends, growth factors and opportunities
7.5.5.1.2 Market size and forecast, by Type
7.5.5.1.2.1 Brazil Thin film Solar Roofing Market by Type
7.5.5.1.2.2 Brazil Crystalline Solar Roofing Market by Type
7.5.5.1.3 Market size and forecast, by Grid Type
7.5.5.1.4 Market size and forecast, by Installation Type
7.5.5.2 Chile
7.5.5.2.1 Key market trends, growth factors and opportunities
7.5.5.2.2 Market size and forecast, by Type
7.5.5.2.2.1 Chile Thin film Solar Roofing Market by Type
7.5.5.2.2.2 Chile Crystalline Solar Roofing Market by Type
7.5.5.2.3 Market size and forecast, by Grid Type
7.5.5.2.4 Market size and forecast, by Installation Type
7.5.5.3 South Africa
7.5.5.3.1 Key market trends, growth factors and opportunities
7.5.5.3.2 Market size and forecast, by Type
7.5.5.3.2.1 South Africa Thin film Solar Roofing Market by Type
7.5.5.3.2.2 South Africa Crystalline Solar Roofing Market by Type
7.5.5.3.3 Market size and forecast, by Grid Type
7.5.5.3.4 Market size and forecast, by Installation Type
7.5.5.4 Rest of LAMEA
7.5.5.4.1 Key market trends, growth factors and opportunities
7.5.5.4.2 Market size and forecast, by Type
7.5.5.4.2.1 Rest of LAMEA Thin film Solar Roofing Market by Type
7.5.5.4.2.2 Rest of LAMEA Crystalline Solar Roofing Market by Type
7.5.5.4.3 Market size and forecast, by Grid Type
7.5.5.4.4 Market size and forecast, by Installation Type
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
9.1 First Solar, Inc.
9.1.1 Company overview
9.1.2 Key Executives
9.1.3 Company snapshot
9.1.4 Operating business segments
9.1.5 Product portfolio
9.1.6 Business performance
9.1.7 Key strategic moves and developments
9.2 Hanwha Q-cells
9.2.1 Company overview
9.2.2 Key Executives
9.2.3 Company snapshot
9.2.4 Operating business segments
9.2.5 Product portfolio
9.2.6 Business performance
9.2.7 Key strategic moves and developments
9.3 LONGi
9.3.1 Company overview
9.3.2 Key Executives
9.3.3 Company snapshot
9.3.4 Operating business segments
9.3.5 Product portfolio
9.3.6 Business performance
9.3.7 Key strategic moves and developments
9.4 Trina solar
9.4.1 Company overview
9.4.2 Key Executives
9.4.3 Company snapshot
9.4.4 Operating business segments
9.4.5 Product portfolio
9.4.6 Business performance
9.4.7 Key strategic moves and developments
9.5 JA Solar
9.5.1 Company overview
9.5.2 Key Executives
9.5.3 Company snapshot
9.5.4 Operating business segments
9.5.5 Product portfolio
9.5.6 Business performance
9.5.7 Key strategic moves and developments
9.6 SunPower Corporation
9.6.1 Company overview
9.6.2 Key Executives
9.6.3 Company snapshot
9.6.4 Operating business segments
9.6.5 Product portfolio
9.6.6 Business performance
9.6.7 Key strategic moves and developments
9.7 Indosolar Ltd
9.7.1 Company overview
9.7.2 Key Executives
9.7.3 Company snapshot
9.7.4 Operating business segments
9.7.5 Product portfolio
9.7.6 Business performance
9.7.7 Key strategic moves and developments
9.8 Canadian Solar
9.8.1 Company overview
9.8.2 Key Executives
9.8.3 Company snapshot
9.8.4 Operating business segments
9.8.5 Product portfolio
9.8.6 Business performance
9.8.7 Key strategic moves and developments
9.9 e-ton solar
9.9.1 Company overview
9.9.2 Key Executives
9.9.3 Company snapshot
9.9.4 Operating business segments
9.9.5 Product portfolio
9.9.6 Business performance
9.9.7 Key strategic moves and developments
9.10 JinkoSolar Holding Co., Ltd.
9.10.1 Company overview
9.10.2 Key Executives
9.10.3 Company snapshot
9.10.4 Operating business segments
9.10.5 Product portfolio
9.10.6 Business performance
9.10.7 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Solar Roofing Market,' The solar roofing market was valued at $59.4 billion in 2021, and is estimated to reach $241.6 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031.Solar roofing is a type of roofing that collects and stores solar energy using solar panels. This energy may then be utilized to power households and workplaces. Owing to its significant advantages, the solar roofing business is steadily expanding. Solar roofs provide a clean and sustainable source of energy while saving consumer power costs.
The increase in the investment of the government and private investors to develop more efficient and stable solar panels has created a positive impact on the development of the market. Furthermore, the increase in efficiency of up to 30% depending on the various aspects such as height above the ground, tilt angle, and reflectivity of the ground surface have boosted the demand for bifacial solar panels which have a wide range of applications in solar roofing and building integrated solar panels. The presence of various advantages compared to conventional solar panels such as reduction in delamination, micro cracking, and moisture corrosion are driving the demand for rooftop solar panels. In addition, it also has a low degradation rate & cell temperature, high flameproof rating, mechanical strength, and less flexing are principal factors driving the market growth in the forecast period.
Economic progress around the world has led to various changes, such as improvements in life support and health, access to goods and a wide variety of foods, hundreds of millions of jobs created, and others which are particularly noticeable in emerging economies. The backbone of all these developments such as industrialization, and globalization is the energy sector. Being the power source metric of civilization, world energy consumption has profound repercussions for the socioeconomic development of society as energy, population, and urbanization are dependent on each other. The above-mentioned positive factors are the major reason for the growth of the solar roofing market.
Solar panels are minimal maintenance compared to other renewable power generation industries and have become an outstanding investment industry for people as they offer a raft of benefits to both commercial and residential homes. The most common problems affecting solar panels market expansion is internal corrosion, electrical issues, micro-cracks, hot spots, Potential Induced Degradation (PID) effect, roof issues, and inverter problems. The presence of the above-mentioned problems is a major factor hampering the growth of the market.
The solar roofing market is segmented based on type, grid type, installation type, and region.
On the basis of type, the market is fragmented into thin-film, crystalline, and others. Thin film segment is further divided into CdTe, a-Si, and CI(G)S, while crystalline segment is further bifurcated into multi-Si and mono-Si. By grid type, the market is classified into on grid and off-grid. By installation type, the market is categorized into residential, commercial, and utility-scale. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe, North America, and LAMEA.
Impact of Covid-19 on Global Solar Roofing Market
Post lockdown, the industry is expected to deal with the aftereffects as new solar roofing is not a necessity for consumers. With consumers dealing with several financial problems, solar roofing will be the least priority on their list resulting to a delay in the decisions with context the installation of solar rooftops.Competitive Landscape
The major companies profiled in this report JinkoSolar, JA Solar, Trina Solar, LONGi Solar, Canadian Solar, First Solar, SunPower Corporation, Indosolar, Hanwha Q-cells, and E-Ton Solar. The decline in the cost price of solar panels and increase in the awareness among the people regarding the advantages of utilization of rooftop solar panels have positive impact on the solar roofing market. Additional growth strategies such as an expansion of storage capacities, acquisition, partnership, and research & innovation in the optimization and improvement in the efficiency and reliability of sodium-ion batteries have led to attaining key developments in the global solar roofing market trends.Key findings of the study
In 2021, Asia-Pacific region dominated the global solar roofing market with more than 55% of the share, in terms of revenue.The crystalline segment accounted for 89.5% solar roofing market share in 2021 and is anticipated to grow at a rate of 15.7% in terms of revenue, increasing its share in the global solar roofing market during the forecast period.
On-grid segment is projected to be dominating segment during forecast period.
The residential segment is the fastest-growing installation type segment in the global solar roofing market and is expected to grow at a CAGR of 16.6% during 2022-2031.
Companies Mentioned
- First Solar, Inc.
- Hanwha Q-Cells
- Longi
- Trina Solar
- Ja Solar
- Sunpower Corporation
- Indosolar Ltd.
- Canadian Solar
- E-Ton Solar
- Jinkosolar Holding Co. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 308 |
| Published | November 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 59.4 billion |
| Forecasted Market Value ( USD | $ 241.6 billion |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
