About Solar Home System
Solar home systems are the technology used in the homes for energy consumption, the system is the photovoltaic systems that provide the cost-effectiveness in the supply of power for amenities like lighting and other home appliances. The solar home system consists of various components like solar panels, solar array mounting racks, array DC disconnect, inverter, battery racks, and other parts of the systems in the home. These components help in converting the power in AC current supplied for the appliances o be used and maintaining safety.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 17.9% |
The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Solar Home System market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Greenlight Planet Inc. (United States), M-KOPA Solar (Kenya), NIWA SOLAR (Hong Kong), Schneider Electric (France), Renewit Solar Limited (Hong Kong), Sunrun Inc. (United States) and ENGIE (France) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Solar Home System market by , Application (Online and Offline) and Region.
On the basis of geography, the market of Solar Home System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Solar Panels will boost the Solar Home System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacity Range, the sub-segment i.e. 1 Kw will boost the Solar Home System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of the IoT based Solar Home System and Continuous Research and Development in the Solar Technology
Market Growth Drivers:
Demand for the Energy Efficient and Sustainable Home System and Increasing Need for Energy Consumption Worldwide
Challenges:
Lack of Reachability and Affordability of Solar Home System in Under Developing Economies
Restraints:
High Cost Associated with the Installation of Solar Home System
Opportunities:
Rising Energy Consumption Awareness Through Government Program will Boost the Solar Home System Market
Market Leaders and their expansionary development strategies
On 3rd September 2019, Engie expands presence in Africa with the acquisition of Mobisol. Already active through subsidiary Fenix International and start-up Engie PowerCorner, the French energy giant is expanding further by acquiring Mobisol, an off-grid systems specialist with operations in Kenya, Tanzania, and Rwanda.
On 7th July 2020, Sunrun to Acquire Vivint Solar, Creating Home Solar Giant. The leading U.S. home solar installer will gobble up its biggest rival, in a significant consolidation for the industry. The acquisition would roll together two companies with significantly overlapping business models and similar visions for a distributed energy future. Though Sunrun and Vivint Solar have slightly different geographic coverage areas, both install rooftop solar across much of the country through leases, loans, and direct sales.
Key Target Audience
Solar Home System Manufacturers, Solar Home System International Traders, Solar Home System Distributors and Suppliers, Research and Development Institutes, Regulatory Bodies, Potential investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.