Distributed Solar Power Generation Market Size, Share | 2031
Distributed Solar Power Generation Market Size, Share | 2031
Segments - Distributed Solar Power Generation Market by Technology [Concentrated Solar Power Systems and Photovoltaic Systems], Solar Module [Polycrystalline, Amorphous Silicon Cells, Cadmium Telluride, Monocrystalline, and Others], End-users [Industrial, Residential, Commercial, and Others], and Region [Asia Pacific, North America, Latin America, Europe, and Middle East & Africa]–Global Industry Analysis, Growth, Shares, Size, Trends, and Forecast 2023– 2031
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| Report ID :EP-1161
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| 176 Pages
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Report Description
Distributed Solar Power Generation Market Outlook 2031
The Distributed Solar Power Generation Market was USD 130.80 Billion in 2022 and is likely to reach USD 240.47 Billion by 2031, expanding at a CAGR of 7% during 2023 – 2031. Growth of the market is attributed to increasing energy consumption, traditional power sources unable to meet requirement, supportive government policies, and upcoming projects.
Solar energy is the radiant energy released from the sun, which is utilized by using various technologies such as photovoltaic cells, solar heating, and others. The solar energy is an efficient form of alternative energy and a suitable renewable solution toward global warming and growing greenhouse emissions.
The COVID-19 pandemic affected the demand and supply of distributed solar power generation market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Distributed Solar Power Generation Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumer purchasing capacity and growing population are projected to boost the market.
- Growth in solar energy manufactures and rapidly growing production capacity is the major factor fueling the market.
- High cost of distributed solar power generation is projected to restrict the market expansion during the forecast period.
- R&D investment and technological advancement in distributed solar power generation market is projected to offer lucrative opportunities for the market players.
Scope of Distributed Solar Power Generation Market Report
The report on the distributed solar power generation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Distributed Generation is a key component in the transition towards more sustainable energy systems. It involves the production of electricity from numerous small energy sources, often located close to the point of use. This decentralized approach reduces the need for large-scale infrastructure and transmission losses, making it an efficient solution for meeting local energy demands. By integrating distributed generation with renewable energy sources like solar power, communities can enhance their energy resilience and reduce dependency on traditional power grids. This shift not only supports environmental goals but also empowers consumers to have greater control over their energy consumption and costs.
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Attributes |
Details |
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Report Title |
Distributed Solar Power Generation Market–Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016-2021 |
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Forecast Period |
2023-2031 |
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Segmentation |
Technology [Concentrated Solar Power Systems and Photovoltaic Systems], Solar Module [Polycrystalline, Amorphous Silicon Cells, Cadmium Telluride, Monocrystalline, and Others], End-users [Industrial, Residential, Commercial, and Others] |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players covered in the Report |
JinkoSolar Holding Co. Ltd., Canadian Solar Inc., Trina Solar Limited, Active Solar GmbH, Wuxi Suntech Power Co. Ltd., Yingli Solar, Sharp Solar Energy Solution Group, Tesla Inc., and First Solar Inc. |
Distributed Solar Power Generation Market Segment Insights
The industrial segment is expected to grow at a rapid pace
Based on end-users, the distributed solar power generation market is divided into industrial, residential, commercial, and others. The industrial segment accounts for a key share of the market. Growth of the market is attributed to the rising energy consumption, rapid industrialization, growing demand for electricity, and developed electricity transmission infrastructure. The residential segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rapid urbanization, government policies, increasing population, and rapid development in commercial sector.
The monocrystalline segment accounts for a major share of the market
On the basis of solar module, the distributed solar power generation market is segmented into polycrystalline, amorphous silicon cells, cadmium telluride, monocrystalline, and others. The monocrystalline segment accounts for a major share of the market. Growth of the market is attributed to increasing environmental pollution and rapidly decreasing water footprint. The polycrystalline segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing application of solar systems in architectural sector and rising demand for solar power towers in electricity generations.
The photovoltaic systems segment accounts for a significant share of the market
Based on technology, the distributed solar power generation market is bifurcated into concentrated solar power systems and photovoltaic systems. The photovoltaic systems segment accounts for a significant share of the market. Growth of the market is attributed to low material cost and increasing efficiency of solar panel. The concentrated solar power segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increased investment in research and development and rising adoption of solar storage system.
The market in Asia Pacific is estimated to hold a key market share
On the basis of regions, the distributed solar power generation market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Europe is anticipated to expand at a high CAGR during the forecast period due to rapid economic growth in region and encouragement from government organizations. The market of Asia Pacific is estimated to hold key market share due to decrease in raw material prices of solar modules and increasing adoption of storage grid.
Segments
The distributed solar power generation market has been segmented on the basis of
Technology
- Concentrated Solar Power Systems
- Photovoltaic Systems
Solar Module
- Polycrystalline
- Amorphous Silicon Cells
- Cadmium Telluride
- Monocrystalline
- Others
End-users
- Industrial
- Residential
- Commercial
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- JinkoSolar Holding Co. Ltd.
- Canadian Solar Inc.
- Trina Solar Limited
- Active Solar GmbH
- Wuxi Suntech Power Co. Ltd.
- Yingli Solar
- Sharp Solar Energy Solution Group
- Tesla Inc.
- First Solar Inc.
Competitive Landscape
Key players competing in the distributed solar power generation market include JinkoSolar Holding Co. Ltd., Canadian Solar Inc., Trina Solar Limited, Active Solar GmbH, Wuxi Suntech Power Co. Ltd., Yingli Solar, Sharp Solar Energy Solution Group, Tesla Inc., and First Solar Inc.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.
Frequently Asked Questions
Opportunities include increased R&D investment and technological advancements, which are expected to drive further market growth.
Major players include JinkoSolar Holding Co. Ltd., Canadian Solar Inc., Trina Solar Limited, Active Solar GmbH, Wuxi Suntech Power Co. Ltd., Yingli Solar, Sharp Solar Energy Solution Group, Tesla Inc., and First Solar Inc.
Asia Pacific is estimated to hold a key market share due to lower raw material prices and increased adoption of storage grids, while Europe is expected to grow at a high CAGR due to economic growth and government support.
Monocrystalline solar modules account for the largest share, driven by concerns over environmental pollution and decreasing water footprint.
The industrial segment currently holds a key share, but the residential segment is anticipated to expand rapidly due to urbanization, government policies, and population growth.
The high cost of distributed solar power generation systems is a major factor restricting market expansion.
The photovoltaic systems segment holds a significant share due to low material costs and increasing efficiency of solar panels.
The COVID-19 pandemic led to supply chain disruptions, raw material shortages, and production shutdowns, causing a decline in market growth. However, the launch of vaccines is expected to support market recovery.
Key growth drivers include increasing energy consumption, inability of traditional power sources to meet demand, supportive government policies, and upcoming solar projects.
The distributed solar power generation market is expected to reach USD 240.47 billion by 2031, growing at a CAGR of 7% from 2023 to 2031.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Distributed Solar Power Generation Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Distributed Solar Power Generation Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Distributed Solar Power Generation Market - Supply Chain
4.5. Global Distributed Solar Power Generation Market Forecast
4.5.1. Distributed Solar Power Generation Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Distributed Solar Power Generation Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Distributed Solar Power Generation Market Absolute $ Opportunity
5. Global Distributed Solar Power Generation Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Distributed Solar Power Generation Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Distributed Solar Power Generation Demand Share Forecast, 2019-2026
6. North America Distributed Solar Power Generation Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Distributed Solar Power Generation Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Distributed Solar Power Generation Demand Share Forecast, 2019-2026
7. Latin America Distributed Solar Power Generation Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Distributed Solar Power Generation Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Distributed Solar Power Generation Demand Share Forecast, 2019-2026
8. Europe Distributed Solar Power Generation Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Distributed Solar Power Generation Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Distributed Solar Power Generation Demand Share Forecast, 2019-2026
9. Asia Pacific Distributed Solar Power Generation Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Distributed Solar Power Generation Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Distributed Solar Power Generation Demand Share Forecast, 2019-2026
10. Middle East & Africa Distributed Solar Power Generation Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Distributed Solar Power Generation Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Distributed Solar Power Generation Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Distributed Solar Power Generation Market: Market Share Analysis
11.2. Distributed Solar Power Generation Distributors and Customers
11.3. Distributed Solar Power Generation Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. JinkoSolar Holding Co. Ltd.
11.4.2. Canadian Solar Inc.
11.4.3. Trina Solar Limited
11.4.4. Active Solar GmbH
11.4.5. Wuxi Suntech Power Co. Ltd.
11.4.6. Yingli Solar
11.4.7. Sharp Solar Energy Solution Group
11.4.8. Tesla Inc.
11.4.9. First Solar Inc.
Methodology
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