Market Size of Asia-Pacific Rooftop Solar Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 16.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Rooftop Solar Market Analysis
The Asia-Pacific rooftop solar market is expected to grow at a CAGR of more than 16% over the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the short term, favorable government policies and an increasing focus on gaining energy security are expected to drive the market.
- On the other hand, increasing penetration of other renewable energy sources like wind energy is major restraint expected to hinder the market's growth during the forecasted period.
- Moreover, the increasing popularity of distributed solar power generation in terms of economic benefits and ability to provide constant energy, which eliminates equipment damage due to voltage fluctuations in the conventional power grid, is expected to create significant opportunities for the Asia-pacific rooftop solar market.
- China is expected to dominate in the Asia-Pacific rooftop solar market over the forecast period due to the constantly increasing power demand in the country and the target for increasing renewable energy share in the power mix.
Asia-Pacific Rooftop Solar Industry Segmentation
Rooftop solar PV is a photovoltaic system with electricity-generating solar panels mounted on the rooftop of a commercial or residential building. It captures the sun's light energy and converts it into electrical energy.
The Asia-Pacific Rooftop Solar market is segmented by End-User and Geography. By end-user, the market is segmented into Residential, Commercial, and Industrial. The report also covers the market size and forecasts for the Asia-Pacific rooftop solar market across major countries. For each segment, the market sizing and forecasts have been done based on installed capacity (Giga-Watt).
| End-Users | |
| Residential | |
| Commercial and Industrial |
| Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)} | |
| India | |
| China | |
| Japan | |
| Australia | |
| Rest of Asia-Pacific |
Asia-Pacific Rooftop Solar Market Size Summary
The Asia-Pacific rooftop solar market is poised for substantial growth, driven by favorable government policies and a heightened focus on energy security. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels. The increasing adoption of distributed solar power generation is creating significant opportunities, offering economic benefits and stable energy supply by mitigating voltage fluctuations. However, the market faces challenges from the growing penetration of other renewable energy sources, such as wind energy. China is expected to lead the market, fueled by its rising power demand and ambitious renewable energy targets.
The rooftop solar photovoltaic (PV) market is rapidly expanding within the Asia-Pacific region, particularly in the commercial and industrial sectors, due to government incentives and financial support. The declining cost and improving efficiency of solar panels have further boosted demand. The region, with major players like China and India, presents a high-potential market for solar rooftop companies. China's initiatives, such as the mandate for solar panel installations on public and commercial buildings, underscore the country's commitment to expanding its solar PV capacity. The market is characterized by fragmentation, with key players including JA Solar Holdings, JinkoSolar, and Canadian Solar, among others, actively contributing to the region's solar energy landscape.
Asia-Pacific Rooftop Solar 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 Installed Capacity and Forecast in GW, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Force Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 End-Users
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2.1.1 Residential
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2.1.2 Commercial and Industrial
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2.2 Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}
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2.2.1 India
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2.2.2 China
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2.2.3 Japan
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2.2.4 Australia
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2.2.5 Rest of Asia-Pacific
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Asia-Pacific Rooftop Solar Market Size FAQs
What is the current Asia-Pacific Rooftop Solar Market size?
The Asia-Pacific Rooftop Solar Market is projected to register a CAGR of greater than 16% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Rooftop Solar Market?
JA Solar Holdings Co., Ltd., JinkoSolar Holding Co., Ltd., Suntech Power Holdings Co., Ltd., Yingli Green Energy Holding Co., Ltd. and Canadian Solar Inc. are the major companies operating in the Asia-Pacific Rooftop Solar Market.
