Home / Technology & Media / Solar Power Equipment Market By Equipment Type (Solar Panels, Mounting, Racking & Tracking System, Storage Systems, Inverters), By Application (Residential, Non-Residential, Utilities) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Solar Power Equipment Market By Equipment Type (Solar Panels, Mounting, Racking & Tracking System, Storage Systems, Inverters), By Application (Residential, Non-Residential, Utilities) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Published: Oct 2018 | Report Code: 59370-10-18

Increasing Efforts by Governments across Various Countries to Support Solar Energy to Drive the Solar Power Equipment Market Growth

The solar power equipment market was valued at US$ 79.45 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 13.4% from 2018 to 2026. Solar power equipment refers to the devices and components that are used in the process of harnessing solar energy from sun. The demand for solar power equipment has been positively influenced by increasing focus on the part of governments of various countries to rely on solar energy. For instance, the world added nearly 30% more solar energy capacity in 2017. The fact that solar power generates electricity with no fuel costs, no global warming and no risks of fuel price spikes has been a prominent factor leading to its increasing adoption across the world. Therefore, the increasing dependence on solar energy expected to compliment the solar power equipment market growth in the coming years. Moreover, there lies enormous growth opportunities for the manufacturers of solar power equipment considering the fact that solar power has the potential to supply a significant amount of electricity and at the same time also being environmentally and economically attractive. Industries too have benefited by adopting solar energy as they help a great deal in improving their environmental profiles and to lower their operating costs. Moreover, increasing efforts on the part of developed countries to fight climate change has been another major factor aiding the solar power equipment market growth.

Market Synopsis

Solar Power Equipment Market

Active feed-in tariff (FiT) Programs Expected to Create Favorable Demand for Solar Power Equipment in the Residential Sector

The residential segment expected to witness a significant growth during the forecast period from 2018 to 2026. The fact that governments across various nations have been instrumental in providing subsidies to promote solar energy expected to drive demand for solar power equipment in the residential sector. Moreover, declining cost of solar panels has been another prominent factor contributing to the increased demand for these equipment in residential sector. Active feed-in tariff programs in various countries has been an important factor leading to the overall reduction in the cost per watt of silicon PVCs. Increase in construction activities has further contributed to the segment growth.

Solar Power Equipment Market

High Upfront Capital Expenditure to Slightly Offset Demand

The lack of financing options coupled with high upfront capital expenditure is impacting the wide scale adoption of solar power equipment in the residential vertical. Moreover, high dependency on fossil fuels and pre-dominance of alternative sources of energy is anticipated to slightly offset the solar power equipment market growth. Another major challenge affecting the market growth negatively is the fact that the operating capacity of solar power is limited and is dependent on sunny conditions.

Solar Power Equipment Market

Asia Pacific to Remain an Important Market for Investment in Coming Years

North America represents one of the largest and most lucrative regional market for solar power equipment worldwide. One of the major factors driving the solar power equipment market growth in the region can be attributed to the increasing penetration of advanced solar power equipment. Moreover, the implementation of government regulation supporting solar energy and rising awareness among people towards the benefit of solar energy is further complimenting the solar power equipment market growth in North America. In addition, declining cost of solar photovoltaic modules is another prominent factor contributing to the market growth in the region. However, Asia Pacific expected to offer significant opportunities for the manufacturers of solar power equipment in the coming years. Rising demand for clean energy coupled with rapid urbanization expected to support the solar power equipment market growth in the region.

Solar Power Equipment Market

Historical & Forecast Period

2016 – Historical Year

2017 – Base Year

2018-2026 – Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The report elucidates the detailed outline of global solar power equipment market by categorizing the market in terms of equipment type, application and geography.

Equipment Type (2016–2026; US$ Bn)

  • Solar Panels
  • Mounting, Racking & Tracking System
  • Storage Systems
  • Inverters

Application (2016–2026; US$ Bn)

  • Residential
  • Non-residential
  • Utilities

Geography Segment (2016–2026; US$ Bn)

  • North America
    • United States
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East & Africa (MEA)
    • Latin America

Solar Power Equipment Market

Key players profiled in the report include ABB Group, Hanwha Q CELLS, First Solar, Inc., Canadian Solar, JinkoSolar, JA Solar, Shunfeng International, LONGi Solar, Trina Solar and SunPower Corporation among others.

Key questions answered in this report

  • What was the global solar power equipment market size in 2017 and forecast for 2026?
  • What are the current trends in the solar power equipment market?
  • What are the various valuable opportunities for the players in the market?
  • Which is the largest regional market for solar power equipment?
  • Which region expected to be the fastest growing and why?
  • What are the future prospects for the solar power equipment market?
  • What are the major drivers and restraints influencing the market growth?
  • What are the new innovations by the leading players?
  • What are the key strategies adopted by the leading players in market?

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Solar Power Equipment Market
2.2 Global Solar Power Equipment Market, By Equipment Type, 2017
2.3 Global Solar Power Equipment Market, By Application, 2017
2.4 Global Solar Power Equipment Market, By Geography, 2017

Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global Solar Power Equipment Market Value, 2016 – 2026, (US$ Bn)
3.2 Market Drivers
3.3 Market Restraints
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition, By Geography
3.6 Competitive Analysis
3.6.1 Market Positioning of Key Vendors
3.6.2 Key Strategies Adopted by the Leading Players

Chapter 4 Global Solar Power Equipment Market Analysis, By Equipment Type, 2016 – 2026
4.1 Market Analysis
4.2 Solar Panels
4.3 Mounting, Racking & Tracking System
4.4 Storage Systems
4.5 Inverters

Chapter 5 Global Solar Power Equipment Market Analysis, By Application, 2016 – 2026
5.1 Market Analysis
5.2 Residential
5.3 Non-residential
5.4 Utilities

Chapter 6 North America Solar Power Equipment Market Analysis, 2016 – 2026
6.1 Overview
6.2 North America Solar Power Equipment Market Analysis, By Equipment Type, 2016 – 2026
6.2.1 Market Analysis
6.3 North America Solar Power Equipment Market Analysis, By Application, 2016 – 2026
6.3.1 Market Analysis
6.4 North America Solar Power Equipment Market Analysis, By Country, 2016 – 2026
6.4.1 U.S.
6.4.2 Canada

Chapter 7 Europe Solar Power Equipment Market Analysis, 2016 – 2026
7.1 Overview
7.2 Europe Solar Power Equipment Market Analysis, By Equipment Type, 2016 – 2026
7.2.1 Market Analysis
7.3 Europe Solar Power Equipment Market Analysis, By Application, 2016 – 2026
7.3.1 Market Analysis
7.4 Europe Solar Power Equipment Market Analysis, By Country/Region, 2016 – 2026
7.4.1 U.K.
7.4.2 Germany
7.4.3 France
7.4.4 Rest of Europe

Chapter 8 Asia Pacific Solar Power Equipment Market Analysis, 2016 – 2026
8.1 Overview
8.2 Asia Pacific Solar Power Equipment Market Analysis, By Equipment Type, 2016 – 2026
8.2.1 Market Analysis
8.3 Asia Pacific Solar Power Equipment Market Analysis, By Application, 2016 – 2026
8.3.1 Market Analysis
8.4 Asia Pacific Solar Power Equipment Market Analysis, By Country/Region, 2014 – 2024
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific

Chapter 9 Rest of the World Solar Power Equipment Market Analysis, 2016 – 2026
9.1 Overview
9.2 Rest of the World Solar Power Equipment Market Analysis, By Equipment Type, 2016 – 2026
9.2.1 Market Analysis
9.3 Rest of the World Solar Power Equipment Market Analysis, By Application, 2016 – 2026
9.3.1 Market Analysis
9.4 Rest of the World Solar Power Equipment Market Analysis, By Region, 2016 – 2026
9.4.1 Latin America
9.4.2 Middle East & Africa

Chapter 10 Company Profiles
10.1 ABB Group
10.2 Hanwha Q CELLS
10.3 First Solar, Inc.
10.4 Canadian Solar
10.5 JinkoSolar
10.6 JA Solar
10.7 Shunfeng International
10.8 LONGi Solar
10.9 Trina Solar
10.10 SunPower Corporation

FIG. 1 Global Solar Power Equipment : Market Segmentation
FIG. 2 Global Solar Power Equipment Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Solar Power Equipment Market, By Equipment Type, 2017 (US$ Bn)
FIG. 5 Global Solar Power Equipment Market, By Application, 2017 (US$ Bn)
FIG. 6 Global Solar Power Equipment Market, By Geography, 2017 (US$ Bn)
FIG. 7 Global Solar Power Equipment Market Value, 2016 – 2026, (US$ Bn)
FIG. 8 Attractive Investment Proposition, by Geography
FIG. 9 Market Positioning of Key Solar Power Equipment Players, 2017
FIG. 10 Global Solar Power Equipment Market Value Contribution, By Equipment Type, 2017 & 2026 (%)
FIG. 11 Global Solar Power Equipment Market Value from Solar Panels, 2016 – 2026, (US$ Bn)
FIG. 12 Global Solar Power Equipment Market Value from Mounting, Racking & Tracking System, 2016 – 2026, (US$ Bn)
FIG. 13 Global Solar Power Equipment Market Value from Storage Systems, 2016 – 2026, (US$ Bn)
FIG. 14 Global Solar Power Equipment Market Value from Inverters, 2016 – 2026, (US$ Bn)
FIG. 15 Global Solar Power Equipment Market Value Contribution, By Application, 2017 & 2026 (%)
FIG. 16 Global Solar Power Equipment Market Value from Residential, 2016 – 2026, (US$ Bn)
FIG. 17 Global Solar Power Equipment Market Value from Non-residential, 2016 – 2026, (US$ Bn)
FIG. 18 Global Solar Power Equipment Market Value from Utilities, 2016 – 2026, (US$ Bn)
FIG. 19 North America Solar Power Equipment Market Value, 2016 – 2026, (US$ Bn)
FIG. 20 Europe Solar Power Equipment Market Value, 2016 – 2026, (US$ Bn)
FIG. 21 Asia Pacific Solar Power Equipment Market Value, 2016 – 2026, (US$ Bn)
FIG. 22 RoW Solar Power Equipment Market Value, 2016 – 2026, (US$ Bn)

TABLE 1 Market Snapshot: Global Solar Power Equipment Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America Solar Power Equipment Market Value, By Equipment Type, 2016 – 2026 (US$ Bn)
TABLE 5 North America Solar Power Equipment Market Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 6 North America Solar Power Equipment Market Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 7 Europe Solar Power Equipment Market Value, By Equipment Type, 2016 – 2026 (US$ Bn)
TABLE 8 Europe Solar Power Equipment Market Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 9 Europe Solar Power Equipment Market Value, By Country/Region, 2016 – 2026 (US$ Bn)
TABLE 10 Asia Pacific Solar Power Equipment Market Value, By Equipment Type, 2016 – 2026 (US$ Bn)
TABLE 11 Asia Pacific Solar Power Equipment Market Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 12 Asia Pacific Solar Power Equipment Market Value, By Country/Region, 2016 – 2026 (US$ Bn)
TABLE 13 RoW Solar Power Equipment Market Value, By Equipment Type, 2016 – 2026 (US$ Bn)
TABLE 14 RoW Solar Power Equipment Market Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 15 RoW Solar Power Equipment Market Value, By Country/Region, 2016 – 2026 (US$ Bn)
TABLE 16 ABB Group: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 17 Hanwha Q CELLS: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 18 First Solar, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 19 Canadian Solar: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 20 JinkoSolar: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 21 JA Solar: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 22 Shunfeng International: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 23 LONGi Solar: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 24 Trina Solar: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 25 SunPower Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

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