The Asia-Pacific rooftop solar panel market is estimated to grow at a considerable CAGR of 8.4% during the forecast period. The growth of the Asia-Pacific rooftop solar panel market is attributed to factors including increasing demand for green energy, as green energy is supported by various governments to promote nonhazardous sources of energy and provide electricity facilities to rural and remote areas. The increasing environmental concern and reduction in the price of rooftop solar panels are also driving the growth of rooftop solar panels in the Asia-Pacific region. Low operating costs, significant changes in laws, maintenance costs, and awareness among people boost the growth of APAC rooftop solar panels during the forecast period. For instance, in 2022, to finance solar power projects State Bank of India (SBI) launched a centralized processing cell – Surya Shakti Cell in collaboration with Tata Power Solar Systems. The Surya Shakti Cell will process all the loan applications for Solar Projects (capacity up to 1 MW) sourced from across India, for installation by business entities as well as households.
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The Asia-Pacific rooftop solar panel market is segregated geographically into China, India, Japan, and the Rest of Asia-Pacific. Among all the countries, China is expected to contribute the highest share in the Asia-Pacific solar panel market during the forecast period followed by Japan. The market is driven due to factors including increasing demand for solar energy and mass manufacturing units of solar panels. Many key players are also investing in Asia-Pacific due to factors such as high solar radiation and affordable labor. The green energy trend is also influencing the growth of the market in the region. Additionally, increasing government support and increasing awareness regarding the advantages of solar panels are also propelling the growth of the market. India is one of the countries where the growth of the market is boosted by factors such as decreasing prices of solar cells, increasing consumer tariffs, and rising government initiatives in the region. For instance, the government of India has set a ‘rooftop solar program ‘for providing uninterrupted power to commercial, and industrial end-user by the end of 2022.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Asia-Pacific Rooftop Solar Panel Market by Panel Type
- Monocrystalline
- Polycrystalline
- Thin-Film
- Amorphous Silicon (A-SI)
- Cadmium Telluride (CDTE)
- Others
- Others (Concentrated Solar Power)
Asia-Pacific Rooftop Solar Panel Market by End-User
- Residential Sector
- Commercial Sector
Regional Analysis
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Company Profiles
- Canadian Solar Inc.
- Csun Solar Tech
- DelSolar Co., Ltd.
- Desert Technologies
- Evergreen Power Solution Inc.
- First Solar, Inc.
- Hanwha Corp.
- JinkoRooftop Solar Holding Co., Ltd.
- Juwi Holding AG
- KYOCERA Corp.
- Motech Industries Inc.
- Renesola Zhejiang Ltd.
- RISEN ENERGY CO., LTD.
- SoloPower Systems, Inc.
- SunEdison Inc.
- SunPower Corp.
- Wuxi Suntech Power Co., Ltd.
- Trina Rooftop Solar Ltd.
- Yingli Green Energy Holding Co. Ltd.
- Zhongli Talesun Rooftop Solar Co., Ltd.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the Asia-Pacific rooftop solar panel market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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