Reports > Energy And Resources > Rooftop Solar Market Report
Rooftop Solar Market Size, Share, Industry Trends and Forecast to 2033
This report provides an in-depth analysis of the Rooftop Solar market from 2023 to 2033, covering market size, growth trends, segmentation, regional insights, key players, and future forecasts. It aims to equip stakeholders with comprehensive insights to inform strategic decisions.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $170.00 Billion |
| CAGR (2023-2033) | 20.5% |
| 2033 Market Size | $1217.48 Billion |
| Top Companies | SunPower Corporation, First Solar, Inc., JinkoSolar Holding Co., Ltd., Canadian Solar Inc. |
| Last Modified Date | 15 Nov 2024 |
Rooftop Solar Market Report (2023 - 2033)
Rooftop Solar Market Overview
What is the Market Size & CAGR of Rooftop Solar market in 2023?
Rooftop Solar Industry Analysis
Rooftop Solar Market Segmentation and Scope
Request a custom research report for industry.
Rooftop Solar Market Analysis Report by Region
Europe Rooftop Solar Market Report:
Europe's Rooftop Solar market was valued at $55.25 billion in 2023 and is expected to expand to $395.68 billion by 2033. The EU's aggressive push for sustainability, coupled with supportive policies and financial incentives, has led to a surge in solar installations, particularly in Germany, France, and the UK.Asia Pacific Rooftop Solar Market Report:
The Asia Pacific region is witnessing rapid growth in the Rooftop Solar market, with a value of $32.01 billion in 2023, projected to reach $229.25 billion by 2033. This growth is largely attributed to increasing investments in solar energy infrastructure, government policies promoting solar adoption, and high energy consumption patterns in countries like China, India, and Japan.North America Rooftop Solar Market Report:
North America boasts a market size of $59.26 billion in 2023, predicted to hit $424.41 billion by 2033. The rise is driven by significant advancements in solar technologies and a national commitment to renewable energy. The U.S. and Canada are spearheading rooftop solar adoption through innovative financing models and incentives.South America Rooftop Solar Market Report:
In South America, the Rooftop Solar market, valued at $0.03 billion in 2023, is expected to grow to $0.24 billion by 2033. The region is beginning to tap into renewable energy sources owing to favorable climatic conditions and government initiatives to reduce reliance on fossil fuels.Middle East & Africa Rooftop Solar Market Report:
The Middle East and Africa region presents a significant growth potential with a market size of $23.44 billion in 2023, forecasted to reach $167.89 billion by 2033. Increased energy needs amidst growing populations and generous solar exposure are propelling the region towards solar adoption.Request a custom research report for industry.
Rooftop Solar Market Analysis By Product
Global Rooftop Solar Market, By Product Market Analysis (2023 - 2033)
The Rooftop Solar market includes several product categories, with solar panels being the dominant segment, valued at $110.36 billion in 2023 and expected to grow to $790.39 billion by 2033. Inverters, crucial for converting and managing energy, will grow from $37.72 billion to $270.16 billion in the same period. Additionally, storage solutions, which are integral for optimizing energy use, are anticipated to rise from $21.91 billion to $156.93 billion by 2033.
Rooftop Solar Market Analysis By Application
Global Rooftop Solar Market, By Application Market Analysis (2023 - 2033)
The application segment highlights diverse end-users such as residential, commercial, industrial, and institutional. Residential applications dominate the market with a value of $95.66 billion in 2023, projected to approach $685.08 billion by 2033. Commercial roofing applications will also see significant growth from $37.16 billion to $266.14 billion, reflecting increased corporate investments in sustainability.
Rooftop Solar Market Analysis By Technology
Global Rooftop Solar Market, By Technology Market Analysis (2023 - 2033)
The market is segmented further by technology, distinguishing between grid-connected, off-grid, and hybrid systems. Grid-connected systems are leading with a share of 64.92% in 2023, while off-grid systems are emerging with important applications in rural and remote areas.
Rooftop Solar Market Analysis By Installation Type
Global Rooftop Solar Market, By Installation Type Market Analysis (2023 - 2033)
The installation type analysis reveals that ground-mounted systems dominate significantly, representing a substantial share compared to roof-mounted systems. This trend is expected to continue as more extensive solar farms and large-scale installations gain popularity.
Rooftop Solar Market Analysis By End User
Global Rooftop Solar Market, By End-User Market Analysis (2023 - 2033)
In terms of end-user segmentation, residential individuals and businesses lead market participation. Residential users are responsible for a substantial portion of installations, supported by incentives and awareness programs. Businesses also contribute significantly, driven by corporate sustainability initiatives.
Rooftop Solar Market Trends and Future Forecast
Request a custom research report for industry.
Global Market Leaders and Top Companies in Rooftop Solar Industry
SunPower Corporation:
A major player in the solar industry, SunPower specializes in solar panel manufacturing and residential solar solutions, known for high-efficiency solar technology.First Solar, Inc.:
First Solar focuses on manufacturing thin-film solar modules and is recognized for sustainability initiatives and utility-scale solar projects, enhancing global solar adoption.JinkoSolar Holding Co., Ltd.:
As one of the largest manufacturers of solar products worldwide, JinkoSolar supplies high-efficiency modules, contributing significantly to the rooftop solar market.Canadian Solar Inc.:
Canadian Solar designs, manufactures, and delivers solar modules and solar energy solutions, playing a crucial role in expanding rooftop solar coverage globally.We're grateful to work with incredible clients.
