The solar roofing market size was valued at $59.4 billion in 2021, and solar roofing industry is estimated to reach $241.6 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031. Solar roofing refers to a roofing system that integrates solar panels into the roof structure itself, allowing the roof to generate electricity from the sun’s energy. Solar roofing systems can be installed on both residential and commercial buildings, and can provide a range of benefits beyond traditional roofing materials.
Solar roofing can offer several advantages, including reducing or eliminating energy bills, increasing the value of the property, and providing a more sustainable and environmentally-friendly source of energy. Additionally, solar roofing can be aesthetically pleasing, as the panels can be integrated into the roof design and not appear as separate additions.
Get a PDF brochure for Industrial Insights and Business Intelligence: https://www.alliedmarketresearch.com/request-sample/15938
Growth in demand for renewable power due to rapid industrialization and urbanization across the globe has a positive impact on the demand for the solar roofing market. The decline in the cost price of solar panels and increase in manufacturing facilities across the globe have led to the demand for solar roofing market. The rise in awareness among the people and policymakers to utilize the roofs of buildings to harvest solar energy has driven the demand for the solar roofing market opportunities.
The growth of the solar roofing market can be attributed to the increasing demand for renewable energy sources and rising concerns about greenhouse gas emissions & climate change. The growth of the solar roofing market can be attributed to the increasing demand for renewable energy sources and rising concerns about greenhouse gas emissions and climate change. Governments around the world are promoting the use of solar energy through various initiatives and subsidies, which are aiding the solar roofing market growth.
Asia-Pacific holds the largest share estimated at almost 50% in the global solar rooftop market and is anticipated to grow at a high rate, which is expected to directly result in growth in solar rooftops. The rapid growth in the industrial & commercial and utility sectors in Asia-Pacific requires a huge amount of electricity for their operations. The government initiatives for use of renewable energy are making the end-users opt for solar energy. The presence of the above-mentioned trends and investments in the development of renewable energy have a significant impact on the development of the solar roofing market.
On the basis of type, the market is fragmented into thin-film, crystalline, and others. Thin film segment is further bifurcated into CdTe, a-Si, and CI(G)S, while crystalline segment is further divided into multi-Si and mono-Si. By grid type, the market is divided into on grid and off-grid.
By installation type, the market is classified 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 solar roofing market share, followed by Europe, North America, and LAMEA.
Buy This Report (308 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/40wdR3k
The crystalline segment dominates the global Solar roofing market. 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.
The on-grid segment dominates the global Solar roofing market. On-grid means that the solar system is connected to the grid of a local utility. Most residential homes will employ this since it protects consumers if their solar system under or over-produces concerning their variable energy needs. This utility system serves as the battery storage space.
The utility-scale segment dominates the global Solar roofing market. Utility-scale solar is a large-scale solar power plant. A solar power station at a scale large enough to be classified as “utility-scale;” whereas rooftop solar is usually smaller. The utility-scale solar sector has led the overall U.S. solar cell market in terms of installed capacity in 2021. Utility scale refers to an electrical plant or equipment, whose operation, as an individual entity would cause a noticeable change in the operation of a utility.
Asia-Pacific segment dominated the global Solar roofing market. Asia-Pacific, solar energy is widely used in the generation of electricity for standalone systems and rural electrification. India and China are major players in this region majorly due to their huge population and their energy demand. Solar power is a fast-developing industry as a part of the renewable energy sector in India.
Impact of Covid-19
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.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/15938
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.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: