Southeast Asia Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Southeast Asia Solar Energy Market Report is segmented by type (Solar Photovoltaic and Concentrated Solar Power) and geography (Vietnam, Indonesia, the Philippines, Thailand, Malaysia, and the Rest of Southeast Asia). The installed capacity and forecasts Are Provided in megawatts (MW) for all the above segments.

Southeast Asia Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Southeast Asia Solar Energy Market Size

View Global Report
Southeast Asia Solar Energy Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 10.20 %
Market Concentration Medium

Major Players

Southeast Asia Solar Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Southeast Asia Solar Energy Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

Decommissioning

Emerging Energy Technologies

Energy Storage Technology

Southeast Asia Solar Energy Market Analysis

The Southeast Asia Solar Energy Market is estimated to be at 27 GW by the end of this year and is projected to reach 43 GW in the next five years, registering a CAGR of over 10.2% during the forecast period.

  • Over the medium term, factors such as increasing renewable energy installation to reduce carbon emissions and the decreasing price of solar PV modules drive the market for solar Energy.
  • On the other hand, the increasing adoption of alternative renewable technologies like hydropower is expected to hinder market growth during the study period.
  • Nevertheless, supportive government policies towards renewable Energy and technological advancements in solar energy equipment are expected to increase the opportunity for solar energy companies to install solar PV plants in the region during the upcoming years.
  • Vietnam is expected to be the largest market in Southeast Asia due to its increasing demand for electricity and the rising number of renewable energy installations, and their connection to the country's grid.

Southeast Asia Solar Energy Industry Overview

The Southeast Asia Solar Energy Market is moderately fragmented. Some of the major players in the market (in no particular order) include Canadian Solar Inc., JinkoSolar Holding Co. Ltd., Trina Solar Limited, Thai Solar Energy Public Company Limited, and Scatec ASA, among others.

Southeast Asia Solar Energy Market Leaders

  1. Canadian Solar Inc.

  2. JinkoSolar Holding Co. Ltd

  3. Trina Solar Limited

  4. Thai Solar Energy Public Company Limited

  5. Scatec ASA

  6. *Disclaimer: Major Players sorted in no particular order
Southeast Asia Solar Energy Market Concentration
Need More Details on Market Players and Competiters?
Download PDF

Southeast Asia Solar Energy Market News

  • October 2022: Acwa Power secured a contract from Indonesia's state-owned utility, PT Perusahaan Listrik Negara (PLN), to build two floating solar photovoltaic (PV) power plants. The deal encompassed the 60 MW Saguling and 50 MW Singkarak floating solar projects. The two projects were likely to have a combined capacity of 110 MW and cost USD 105 million to build.
  • April 2022: The Sunseap Group of Singapore signed an agreement with the provincial administration of Indonesia's Riau Islands to build large-scale solar energy and storage projects to supply power to the islands and Singapore.

Southeast Asia Solar Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Southeast Asia Solar Energy Installed Capacity and Forecast in GW, till 2028
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 Increasing Renewable Energy Installation to Reduce the Carbon Emission
    • 4.5.1.2 The Decreasing Price of Solar PV Modules
    • 4.5.2 Restraints
    • 4.5.2.1 Increasing Adoption of Alternative Renewable Technologies like Hydropower
  • 4.6 Supply Chain Analysis
  • 4.7 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Solar Photovoltaic
    • 5.1.2 Concentrated Solar Power
  • 5.2 Geography
    • 5.2.1 Vietnam
    • 5.2.2 Indonesia
    • 5.2.3 Philippines
    • 5.2.4 Thailand
    • 5.2.5 Malaysia
    • 5.2.6 Rest of Southeast Asia

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Canadian Solar Inc.
    • 6.3.2 JinkoSolar Holding Co. Ltd.
    • 6.3.3 Trina Solar Limited
    • 6.3.4 Thai Solar Energy Public Company Limited
    • 6.3.5 Scatec ASA
    • 6.3.6 Vena Energy Solar Pte Ltd.
    • 6.3.7 Blue Solar Co., Ltd.
    • 6.3.8 Johnsolar Energy Co. Ltd.
    • 6.3.9 LONGi Green Energy Technology Co Ltd.
    • 6.3.10 Solarie Energy
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Supportive Government Policies Towards Renewable Energy and Technological Advancements in Solar Energy Equipment
**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Southeast Asia Solar Energy Industry Segmentation

Solar power is the conversion of solar energy into thermal or electrical energy. Solar energy is the cleanest and most abundant renewable energy source accessible, and it may be used to generate electricity, provide light or a comfortable interior environment, and heats water for home, commercial, or industrial purposes.

The Southeast Asia Solar Energy Market is segmented by type and geography. The market is segmented by type into solar photovoltaic and concentrated solar power. The report also covers the market size and forecasts for the solar energy market across the major countries in the region. The market sizing and forecasts have been done for each segment in Gigawatts (GW).

Type Solar Photovoltaic
Concentrated Solar Power
Geography Vietnam
Indonesia
Philippines
Thailand
Malaysia
Rest of Southeast Asia
Need A Different Region or Segment?
Customize Now

Southeast Asia Solar Energy Market Research FAQs

What is the current Southeast Asia Solar Energy Market size?

The Southeast Asia Solar Energy Market is projected to register a CAGR of 10.20% during the forecast period (2024-2029)

Who are the key players in Southeast Asia Solar Energy Market?

Canadian Solar Inc., JinkoSolar Holding Co. Ltd, Trina Solar Limited, Thai Solar Energy Public Company Limited and Scatec ASA are the major companies operating in the Southeast Asia Solar Energy Market.

What years does this Southeast Asia Solar Energy Market cover?

The report covers the Southeast Asia Solar Energy Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Southeast Asia Solar Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

How is the Southeast Asia Solar Energy Market segmented?

Southeast Asia Solar Energy Market is segmented based on a) Technology Type: Solar PV, Solar Thermal b) Application: Utility-Scale, Residential, Commercial, Industrial and Off-Grid c) End-User: Residential Consumers, Businesses and Government Organizations

What are the key trends shaping the Southeast Asia Solar Energy Market?

The key trends shaping the Southeast Asia Solar Energy Market are a) Growth of floating solar farms and adoption of energy storage solutions b) Corporate renewable energy procurement, establishment of solar innovation hubs, and smart grid integration

Southeast Asia Solar Energy Industry Report

The Southeast Asia Solar Energy Market is experiencing significant growth as the region increasingly adopts renewable energy solutions to meet rising power demands sustainably. This market encompasses a variety of solar energy technologies, including solar photovoltaic (PV) panels and solar thermal systems, driven by supportive government policies, technological advancements, and growing environmental awareness. Key market segments include utility-scale solar power, residential solar installations, commercial and industrial solar, and off-grid solar solutions. Utility-scale projects dominate the market, while residential and commercial sectors are also seeing increased adoption due to incentives like net metering and tax benefits. Off-grid solutions are gaining traction in remote areas, providing electricity to underserved communities. Asia solar companies are particularly active in this space, contributing to the dynamic growth of the solar PV market in APAC. The future outlook for the Southeast Asia Solar Energy Market is optimistic, with technological innovations, and a strong commitment to sustainable development.

The industry report provides in-depth industry statistics and market size, offering a comprehensive industry overview. It highlights the growth rate and market share, emphasizing the market forecast and market growth. The market report includes detailed market segmentation and price trend analysis. The report pdf is available for a thorough industry analysis, including industry outlook and market forecast.

The market analysis reveals key industry trends and market data, underlining the market value and market overview. The industry analysis covers the industry size and industry growth, supported by industry research and industry reports. The market review features market leaders and market predictions, providing a holistic view of the market outlook.

The report example showcases the industry profile and market structure, supported by industry information and industry sales data. The industry research highlights the largest companies and market trends, emphasizing the market segments and target market. The industry value and market cap are detailed in the report, offering insights into the market's dynamics.

The market research includes sector analysis and growth statistics, providing a comprehensive industry profile. The report pdf and profile pdf are available for a detailed analysis report, including market statistics and market structure. The industry data and market overview are essential for understanding the market's growth forecast and price trends. The research companies offer valuable insights into the market's development, ensuring a thorough understanding of the industry's potential.