Technavio has been monitoring the global off-grid solar power systems market size and it is poised to grow by USD 2.97 billion during 2020-2024, progressing at a CAGR of 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200727005261/en/
Technavio has announced its latest market research report titled Global Off-grid Solar Power Systems Market 2020-2024 (Graphic: Business Wire)
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request the Latest Free Sample Report on COVID-19 Impact
Frequently Asked Questions-
- What was the value of the off-grid solar power systems market in 2019?
Technavio says that the value of the market was USD 4.53 billion in 2019 and is projected to reach USD 7.50 billion by 2024. - At what rate is the market projected to grow during the forecast period 2020-2024?
Growing at a CAGR of almost 11%, the market growth will accelerate in the forecast period of 2020-2024. - What is the key factor driving the market?
The high cost of grid expansion has been instrumental in driving the growth of the market. - Who are the top players in the market?
ABB Ltd., ENGIE SA, Gem Energy Australia Pty. Ltd., Greenlight Planet, M-KOPA Kenya Ltd., NantEnergy Inc., OutBack Power Inc., Schneider Electric SE, SMA Solar Technology AG, and Yingli Green Energy Holding Co. Ltd. are some of the major market participants. - Which region is expected to hold the highest market share in the market?
APAC region - What is a major trend in the off-grid solar power systems market?
The growing Pay-As-You-Go (PAYG) model will be one of the key trends in the market. - Based on segmentation by application, which segment is expected to witness the fastest growth in the global market?
The non-residential segment is expected to grow at a faster rate.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., ENGIE SA, Gem Energy Australia Pty. Ltd., Greenlight Planet, M-KOPA Kenya Ltd., NantEnergy Inc., OutBack Power Inc., Schneider Electric SE, SMA Solar Technology AG, and Yingli Green Energy Holding Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The high cost of grid expansion has been instrumental in driving the growth of the market. However, the high initial PV system cost might hamper the market growth.
Off-grid Solar Power Systems Market 2020-2024: Segmentation
Off-grid Solar Power Systems Market is segmented as below:
- Application
- Non-residential
- Residential
- Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43608
Off-grid Solar Power Systems Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our off-grid solar power systems market report covers the following areas:
- Off-grid Solar Power Systems Market size
- Off-grid Solar Power Systems Market trends
- Off-grid Solar Power Systems Market industry analysis
This study identifies the growing Pay-As-You-Go (PAYG) model as one of the prime reasons driving the off-grid solar power systems market growth during the next few years.
Off-grid Solar Power Systems Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the off-grid solar power systems market, including some of the vendors such as ABB Ltd., ENGIE SA, Gem Energy Australia Pty. Ltd., Greenlight Planet, M-KOPA Kenya Ltd., NantEnergy Inc., OutBack Power Inc., Schneider Electric SE, SMA Solar Technology AG, and Yingli Green Energy Holding Co. Ltd. Backed with competitive intelligence and benchmarking, our research reports on the Off-grid Solar Power Systems Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Off-grid Solar Power Systems Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist off-grid solar power systems market growth during the next five years
- Estimation of the off-grid solar power systems market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the off-grid solar power systems market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of off-grid solar power systems market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Non-residential Market size and forecast 2019-2024
- Residential Market size and forecast 2019-2024
- Market opportunity by Application
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- North America Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- ENGIE SA
- Gem Energy Australia Pty. Ltd.
- Greenlight Planet
- M-KOPA Kenya Ltd.
- NantEnergy Inc.
- OutBack Power Inc.
- Schneider Electric SE
- SMA Solar Technology AG
- Yingli Green Energy Holding Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200727005261/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
