The global Rooftop Solar Photovoltaic (PV) Installation market is expected to reach USD 40.76 Billion by 2028, according to a new report by Reports and Data. A rooftop solar photovoltaic setup is a photovoltaic system that finds application in the generation of electricity from the solar panel installed on the rooftop of a commercial or residential building. The market demand is propelled by various policies and efforts undertaken by governments across the world for the installation of Rooftop Solar Photovoltaic setups to reduce the consumption of energy generated from fossil fuels which is non-renewable source of energy. Solar photovoltaic setups can share a certain percentage of the rising demand for electricity owing to rise in automation, growth in industrialization as well as rise in the living standards of the people.
A surge in demand for rooftop solar photovoltaic systems in residential buildings to save a certain share of cost incurred on electricity, the demand for which is on a high with technological developments to improve the living standard of the people by offering of various electricity consuming appliances. This factor would also boost the market growth for installation of rooftop solar photovoltaic systems.
A high cost incurred in the installation of Rooftop Solar Photovoltaic (PV) setups may play a significant role in creating hindrance in the market growth.
The Asia Pacific market is projected to grow at a CAGR of 17.1% in the forecast period and contributes to the largest market share. This can be attributed to the plenty of sunlight received by this region, the surging demand for electricity as well as the emerging need to discover alternatives ways to the quickly depleting fossil fuels in this region.
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Further key findings from the report suggest
Market Overview:
Power and energy industry comprises of key companies operating in fuel, petroleum, natural gas, and nuclear power markets. Constant production of energy and power is imperative for country’s economic growth. It also covers exploration and production of oil and gas reserves, oil and gas drilling, and refining industries. Power and energy sector is one of the most diversified sector across the globe. Rapid industrialization and urbanization has increased the dependency on power and energy and industries today consume large amounts of fuel making energy industry a crucial element of today’s industrial infrastructure.
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The report sheds special focus on the factors that propel the growth of the industry. For better understanding, the report segments the Rooftop Solar Photovoltaic (PV) Installation market into key divisions such as types, applications, end-use, technology, region, and others. These segments are extensively analyzed to offer better forecast for the global and regional market and key factors influencing their growth are also covered in the report.
For the purpose of this report, Reports and Data have segmented global rooftop solar photovoltaic installation market on the basis of type, application and region:
Type Outlook (Revenue, USD Billion; 2020-2028)
Application Outlook (Revenue, USD Billion; 2020-2028)
Regional Analysis Covers:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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