Off-grid solar is
a system that allow the users to store their solar power batteries for use when
the power grid goes down. The off-grid provide power to offset the grid power
whenever the sun is visible and also send excess power to the grid for later
use. The major end-users for the off-grid solar system are the households that
lack access to electricity connection to the national or main grid. These
households form a potential customer base for off-grid devices.
Global off-grid solar market is
expected to witness substantial growth during the forecast period owing to
minimization of carbon footprint and less electricity costs. Asia Pacific is
expected to be the fastest-growing market, by region, during the forecast
period.
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.
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.
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.
Scope of the
Report
This report
provides an in-depth analysis of the global off-grid solar market, tracking
three market segments across five geographic regions. The report studies key
players, providing a five-year annual trend analysis that highlights market
size, and share for North America, Asia-Pacific (APAC), Europe, and Rest of the
World. The report also provides a forecast, focusing on the market
opportunities for the next five years for each region. The scope of the study
segments the off-grid solar market by its product, application, and by region.
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