The global
off-grid solar market is set to witness significant growth due to Rising
population in the countries such as India and China are mainly driving the
off-grid solar market. The implementation of off-grid devices in the region is
also driven by increased availability and affordability of small solar devices
such as solar lights and lighting kits. Moreover, the major issue of
electrification in the region is being tackled through various solar products
with tailored solutions. For instance, stand-alone solar products in the region
involves catering to various applications such as solar home systems, and
community lighting solutions, among others.
Off-grid solar finds application
majorly in remote areas which are far away from electricity grid. There are two
types of off-grid systems, namely, AC coupled system and DC coupled system.
Solar off-grid systems help to save energy bills. Moreover, the domestic and
commercial consumers are entitled to claim renewable heat incentive for
generating heat energy.
Segmental Overview
The off-grid solar
market has been segmented based on application into as residential, commercial,
and industrial. Residential segment is expected to dominate the market during
the forecast period due to rising use of off-grid solar system as source of
back-up power. Industrial segment is also the prominent segment as most of the
industries are located in remote areas where the connection from the main or
national grid keeps on fluctuating.
Key Players
The key players of
the global off-grid solar market are Schneider Electric, SMA Solar Technology,
Canadaian Solar, Yingli Solar, Su-Kam Power Systems, Backwoods Solar,
HelioPower, Solar Power Rocks, Greenlight Planet, and Off Grid By Design.
Scope of the Report
This research
report provides insights into various levels of analysis, such as industry
analysis and market share analysis for the leading industry competitors, along
with their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global
off-grid solar market, including high-growth regions and/or countries, and
political and economic environments. The project report further provides both –
historical market values and pricing & cost analysis.
Regional Outlook
Region wise, Asia
Pacific held the largest market share of the global off-grid solar market in
2017. It is estimated that Asia-Pacific region would be the fastest growing
market during the forecast period, mainly due to the rising investment in
renewable energy sources and high demand for off-grid solar systems by the
residential sector. The off-grid solar market would be mainly driven by the
favorable government regulations against greenhouse gas emissions.
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