Market Size of Asia-Pacific Distributed Solar Power Generation Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 12.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Distributed Solar Power Generation Market Analysis
The Asia-Pacific distributed solar power generation market is expected to grow at a CAGR of more than 12% during the forecast period of 2020 - 2025. Factors such as rising environmental concerns and government policies for incentives and tax benefits for solar panel installation, high cost of grid expansion are expected to be major drivers driving the market. Also, advancement in technology leading to solar panel manufacturing cost reduction and increase in efficiency have been a major factor for the growth of Asia-Pacificdistributed solar power generation market. However, recent cuts in subsidies for solar power generation in China have somewhat hampered the growth of the market.
- The gradual shift from energy generation from conventional sources such as coal and natural gas to clean energy is expected to help grow the distributed solar power generation market in the region.
- Commercial and industrial sectors are showing growing interest in distributed solar power generation, due to various economical benefits and constant source of energy to eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids. This have created a huge opportunity for distributed solar power generation market in the region.
- China is expected to dominate the market, over rising environmental concerns and economical benefits of domestic distributed solar power generation. The country accounts for over 30% of global solar energy generation, amounting to 177.5 Terawatt-hours in 2018.
APAC Distributed Solar Power Generation Industry Segmentation
The Asia-Pacific distributed solar power generation market report include:
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Distributed Solar Power Generation Market Size Summary
The Asia-Pacific distributed solar power generation market is poised for significant growth, driven by increasing environmental concerns and supportive government policies offering incentives and tax benefits for solar panel installations. The high cost of grid expansion further propels the shift towards distributed solar power solutions. Technological advancements have led to reduced manufacturing costs and improved efficiency of solar panels, contributing to the market's expansion. Despite challenges such as subsidy cuts in China, the transition from conventional energy sources like coal and natural gas to clean energy is expected to bolster the market. The commercial and industrial sectors are particularly interested in distributed solar power due to its economic advantages and reliability in providing a stable energy source, which mitigates issues like voltage fluctuations in traditional power grids.
China is anticipated to maintain its dominance in the Asia-Pacific distributed solar power generation market, driven by environmental concerns and the economic benefits of domestic solar power generation. The country has a substantial share of global solar energy generation and is experiencing increasing demand for clean energy. The expansion of distributed solar PV capacity, especially in commercial and industrial sectors, presents significant opportunities. Rooftop solar systems are also gaining traction, offering electricity access to remote areas and reducing costs in locations reliant on oil-fired generation. The fragmented market includes key players such as Wuxi Suntech Power Co. Ltd, First Solar Inc., Juwi Solar Inc., Sharp Solar Energy Solutions Group, and Trina Solar Limited, all contributing to the region's solar power growth.
Asia-Pacific Distributed Solar Power Generation Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Distributed Solar Power Installed Capacity and Forecast in GW, till 2025
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1.3 Recent Trends and Developments
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1.4 Market Dynamics
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1.4.1 Drivers
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1.4.2 Restraints
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1.5 Supply Chain Analysis
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1.6 Porter's Five Forces Analysis
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1.6.1 Bargaining Power of Suppliers
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1.6.2 Bargaining Power of Consumers
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1.6.3 Threat of New Entrants
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1.6.4 Threat of Substitutes Products and Services
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 China
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2.1.2 India
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2.1.3 Japan
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2.1.4 South Korea
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2.1.5 Rest of Asia-Pacific
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Asia-Pacific Distributed Solar Power Generation Market Size FAQs
What is the current Asia-Pacific Distributed Solar Power Generation Market size?
The Asia-Pacific Distributed Solar Power Generation Market is projected to register a CAGR of greater than 12% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Distributed Solar Power Generation Market?
Wuxi Suntech Power Co. Ltd., First Solar Inc , Juwi Solar Inc., Sharp Solar Energy Solutions Group and Trina Solar Limited are the major companies operating in the Asia-Pacific Distributed Solar Power Generation Market.
