Rooftop Solar Photovoltaic (PV) Market Size, Share, Analysis, Trends, Growth, Forecasts 2032

Rooftop Solar PV Market: Industry Perspective

The global Rooftop Solar PV market size accrued earnings worth approximately USD 115.2 Billion in 2023 and is predicted to gain revenue of about USD 425.2 Billion by 2032, is set to record a CAGR of nearly 15.74% over the period from 2024 to 2032. The study covers the key drivers and restraints of the rooftop solar photovoltaic market along with their market impact within the forecast period. Furthermore, the study also includes the opportunities accessible within the rooftop solar photovoltaic market on a global level.

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Rooftop Solar PV Market Overview

The rooftop solar photovoltaic systems are electrical systems that convert solar energy into electrical energy. These rooftop solar photovoltaic systems are used as renewable energy or green energy source for both residential and non-residential applications.

Rooftop Solar PV Market Growth Dynamics

The global rooftop solar photovoltaic market is likely to experience significant growth in the future, owing to the rising number of rooftop solar photovoltaics (PV) panels in residential and commercial sectors. The growing awareness about energy sources, increasing regulatory policies, ongoing infrastructural developments, high GDP growth, sustainable energy requirements, low-cost power generation, large consumer base, and substantial technological advancements are also expected to fuel the global rooftop solar photovoltaic market in the upcoming years. Rapid urbanization and improving living standards of people will increase the demand for rooftop solar photovoltaic in the years to come. However, the huge initial cost investments in the installation of rooftop solar photovoltaic may hamper the growth of the rooftop solar photovoltaic market globally. Alternatively, the positive regulations, government support in the form of subsidies, feed-in tariffs, tax credits, and motivating business strategies in emerging countries is likely to create new opportunities for the major market players.

In order to offer the users of this report, a comprehensive view of the rooftop solar photovoltaic market, we have enclosed a detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the rooftop solar photovoltaic market has additionally been enclosed. The study includes a market attractiveness analysis, wherein all the segments are benchmarked supported their market size, growth rate, and general attractiveness.

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The study also includes the market share of the key participants operating in the rooftop solar photovoltaic market across the globe. Additionally, the report covers the strategic development together with acquisitions & mergers, agreements, partnerships, collaborations, and joint ventures, and regional growth of key players within the market on a regional basis.

Rooftop Solar PV Market: Report Scope

Rooftop Solar PV Market Segmentation Analysis

The study provides a crucial view of the rooftop solar photovoltaic market by segmenting the market based on technology, grid type, end-use, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

The global rooftop solar photovoltaic market is fragmented into technology, grid type, and end-use.

By technology, the global rooftop solar photovoltaic market is bifurcated into crystalline silicon (monocrystalline and multicrystalline) and thin film. The monocrystalline was the fastest growing technology segment and accounted for a significant share in 2023. By grid type, the global rooftop solar photovoltaic market includes off-grid and grid connected (centralized and decentralized). The off-grid segment held a major market share in 2023. On the basis of end-use, the market is classified into the residential and non-residential. In 2023, the non-residential segment led the global rooftop solar photovoltaic market.

Regional Analysis

The regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

In 2023, Europe held the largest share of the rooftop solar photovoltaic market and Germany contributed the leading revenue share. The German government is promoting rooftop solar photovoltaic systems by offering incentives to the consumers and collaborations with the providers. Additionally, several European governments are offering tax benefits to providers of solar panels, which is expected to propel the European rooftop solar photovoltaic market growth in the upcoming years. Government subsidiaries and schemes for rooftop solar photovoltaic systems, like direct capital subsidies, green electricity schemes, and financing schemes will further fuel the region’s rooftop solar photovoltaic market.

Some major players in the global rooftop solar photovoltaic market are

• Pristine Sun
• Suntech Power
• Schott Solar
• SunPower
• First Solar
• Yingli Green Energy
• Canadian Solar
• Sharp Corporation
• Solar World
• Jinko Solar
• and Trina Solar.

This report segments the global rooftop solar photovoltaic market into:

Global Rooftop Solar PV Market: Technology Analysis

• Thin Film
• Crystalline Silicon
  • Monocrystalline
  • Multicrystalline

Global Rooftop Solar PV Market: Grid Type Analysis

• Off-Grid
• Grid Connected
  • Centralized
  • Decentralized

Global Rooftop Solar PV Market: End-Use Analysis

• Residential
• Non-Residential

Global Rooftop Solar PV Market: Regional Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa