The latest trending report published by Crystal Market Research titled, Solar Rooftop Market approximates that the Solar Rooftop Market size is estimated to flourish at a significant CAGR in the future, and this is attributed to the escalation in need for this product across the globe along with novel innovations in the market.
In 2012, the Solar Rooftop Market was valued around USD 1.48 billion and is anticipated to reach approximately USD 4.14 billion by 2022, while registering at a significant compound annual growth rate (CAGR) of 9.70% during the forecast period.
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A solar rooftop transforms the light energy from the sun into electrical energy with the help of solar panels mounted on the roof on any construction. These rooftop solar panels can either be off-grid with the battery storage or connected to the grid. They are used in several commercial, residential and industrial purposes along with system ratings of up to 10 kW, 11kW-100MW and over 100 MW, respectively. The extreme need for energy in the face of diminishing fossil fuels, has resulted in application of solar rooftop panels in many segments. Apart from rendering energy efficient solutions, these solar panels are also easy and user-friendly to install. In the recent past, the demand for solar rooftops is has progressively increased and is projected to grow with a striking profit.
Solar rooftops particularly in the residential application is propelling this market further. In the past decade, there has been a steady downfall in the cost of major elements such as poly-silicone, silver that are used in the process of manufacturing of solar cells. Owing to higher electricity generating capacity, rooftop solar panels are becoming a priority option for alternate energy, surpassing other green sources of energy.
North America is accountable for major market share in the global segment of solar rooftop owing to fast adaptation of the TPO model. Moreover, this region is predicted to maintain its predominant share owing to rooftop installations garnering further traction.
Top Major Market Players:
The major market players of the global solar rooftop market are Trina Solar (China), SMA Solar Technology AG (Germany), SolarWorld AG (Germany), Yingli Green Energy Holding Company Limited (China), Shunfeng International Clean Energy Limited. (China), Canadian Solar Inc. (Canada)
This report contains Segment wise in-depth analysis in terms several segments along with market size forecasts and approximations to observe significant areas of industry growth in detail. Additionally, an executive summary, summarizing the entire report in such a way that decision-making team can speedily become familiar with background information, summarizing analysis and main conclusions.
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