Global Solar Roofing Market is valued at approximately USD 68.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 15.1% over the forecast period 2023-2030. Solar Roofing is a type of roof-mounted electrical system that generates power from solar energy. Solar roofing is a distributed power-generation technique that assists in meeting a building's energy demand while keeping within the boundaries of an existing distribution network. It is fast rising as a result of increased concerns about climate change and rising electricity expenses. This is moving the solar roofing industry ahead, as is the demand for power generation from renewable energy sources, as well as the existence of plentiful solar resources across the world.
Moreover, governments around the world are increasingly investing in renewable energy sources. This investment in renewable energy is leading to the growth of the Solar roofing market, as solar roofing turbines are widely used in residential and small-scale commercial applications. For instance, in Sept. 2021, the U.S. Department of Agriculture revealed that the Department is planning to invest USD 464 million to build or improve renewable energy infrastructure and to assist rural communities, agricultural producers and companies' lower energy costs in 48 states and Puerto Rico. USD 129 million of these projects have been funded by the USDA under the Rural Electricity for America Program. Also, in September 2022 the Andhra Pradesh State Investment Promotion Board (SIPB) offered investment possibilities for several businesses to increase green energy and The SIPB gave Green Ko permission to spend USD 246 billion in projects utilizing 4,230 MW of total renewable energy potential. Additionally, Advances in solar technology have made solar roofing more efficient also Solar roofing has also given rise to new business models such as solar leasing and power purchase agreements. However, High installation prices and the requirement for roof-mounted solar panel maintenance limit market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Solar Roofing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 Owing to the increase in carbon footprint, the U.S. Government has implemented stringent environmental regulations regarding the usage of fossil fuels and is encouraging the use of photovoltaic energy by enforcing policies According to Solar Energy Industry Association (SEIA) in 2021, the utility-scale cumulative U.S. solar installations is around 77,741 MWdc. Asia Pacific is expected to grow significantly during the forecast period, owing due to widespread use of solar energy in the generation of electricity for standalone systems and rural electrification also rising levels of disposable income, population growth, and rapid urbanisation, as well as increased awareness of energy efficiency and environmental development.
Major market player included in this report are:
- First Solar, Inc.
- Hanwha Q-cells
- LONGi
- Trina solar
- JA Solar Holdings
- SunPower Corporation
- Indosolar Ltd
- Canadian Solar Inc.
- e-ton solar technology Co Ltd.
- Jinko Solar Holding Co., Ltd.
Recent Developments in the Market:
- In January 2023, the unique Timberline Solar roof was made available to Austin area homeowners by GAF Energy, a Standard Industries affiliate and the industry's top supplier of solar roofing. Timberline Solar is the only option that directly blends solar technology with traditional roofing techniques and materials. The Timberline Solar Energy Shingle ES, the first mailable solar shingle ever created, is part of this ground-breaking system and is produced in the United States at GAF Energy's production and development facility.
- In October 2022, the Delhi government made an announcement on utilising neighbourhood solar roofs. Businesses and organisations would be able to generate power without needing rooftop space. Additionally, a joint venture between the governments of Rajasthan and the Union called for bids to commission 50 MW of grid-connected rooftop and small ground-mounted solar, which presents an opportunity for Indian businesses to set up rooftop projects.
Global Solar Roofing Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Grid Type, Installation Type, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
- The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Type:
- Thin film
- Crystalline
- Others
By Grid Type:
By Installation Type:
- Residential
- Commercial
- Utility-Scale
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Solar Roofing Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Solar Roofing Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Solar Roofing Market, by Grid Type, 2020-2030 (USD Billion)
- 1.2.4. Solar Roofing Market, by Installation Type, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Solar Roofing Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Solar Roofing Market Dynamics
- 3.1. Solar Roofing Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Growing awareness about renewable energy
- 3.1.1.2. Increasing demand for solar energy
- 3.1.2. Market Challenges
- 3.1.2.1. High Installation Cost of Solar Roofing
- 3.1.3. Market Opportunities
- 3.1.3.1. Advancements in Solar Technology
Chapter 4. Global Solar Roofing Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Solar Roofing Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Solar Roofing Market by Type, Performance - Potential Analysis
- 5.3. Global Solar Roofing Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Solar Roofing Market, Sub Segment Analysis
- 5.4.1. Thin film
- 5.4.2. Crystalline
- 5.4.3. Others
Chapter 6. Global Solar Roofing Market, by Grid Type
- 6.1. Market Snapshot
- 6.2. Global Solar Roofing Market by Grid Type, Performance - Potential Analysis
- 6.3. Global Solar Roofing Market Estimates & Forecasts by Grid Type 2020-2030 (USD Billion)
- 6.4. Solar Roofing Market, Sub Segment Analysis
- 6.4.1. On-Grid
- 6.4.2. Off-Grid
Chapter 7. Global Solar Roofing Market, by Installation Type
- 7.1. Market Snapshot
- 7.2. Global Solar Roofing Market by Installation Type, Performance - Potential Analysis
- 7.3. Global Solar Roofing Market Estimates & Forecasts by Installation Type 2020-2030 (USD Billion)
- 7.4. Solar Roofing Market, Sub Segment Analysis
- 7.4.1. Residential
- 7.4.2. Commercial
- 7.4.3. Utility-Scale
Chapter 8. Global Solar Roofing Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Solar Roofing Market, Regional Market Snapshot
- 8.4. North America Solar Roofing Market
- 8.4.1. U.S. Solar Roofing Market
- 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Grid Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Installation Type breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Solar Roofing Market
- 8.5. Europe Solar Roofing Market Snapshot
- 8.5.1. U.K. Solar Roofing Market
- 8.5.2. Germany Solar Roofing Market
- 8.5.3. France Solar Roofing Market
- 8.5.4. Spain Solar Roofing Market
- 8.5.5. Italy Solar Roofing Market
- 8.5.6. Rest of Europe Solar Roofing Market
- 8.6. Asia-Pacific Solar Roofing Market Snapshot
- 8.6.1. China Solar Roofing Market
- 8.6.2. India Solar Roofing Market
- 8.6.3. Japan Solar Roofing Market
- 8.6.4. Australia Solar Roofing Market
- 8.6.5. South Korea Solar Roofing Market
- 8.6.6. Rest of Asia Pacific Solar Roofing Market
- 8.7. Latin America Solar Roofing Market Snapshot
- 8.7.1. Brazil Solar Roofing Market
- 8.7.2. Mexico Solar Roofing Market
- 8.8. Middle East & Africa Solar Roofing Market
- 8.8.1. Saudi Arabia Solar Roofing Market
- 8.8.2. South Africa Solar Roofing Market
- 8.8.3. Rest of Middle East & Africa Solar Roofing Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. First Solar, Inc.
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Hanwha Q-cells
- 9.3.3. LONGi
- 9.3.4. Trina solar
- 9.3.5. JA Solar
- 9.3.6. SunPower Corporation
- 9.3.7. Indosolar Ltd
- 9.3.8. Canadian Solar
- 9.3.9. e-ton solar
- 9.3.10. Jinko Solar Holding Co., Ltd.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption