NEW YORK : The latest market analysis report titled Solar Home Systems Market by Type and Geography – Forecast and Analysis 2022-2026 has been added to Technavio‘s catalog. The report predicts the market to witness an accelerating growth momentum at a CAGR of 21.4%. Technavio categorizes the global solar home systems market as a part of the global renewable electricity market. Our report provides extensive information on the value chain analysis for the solar home systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
“Some of the primary growth drivers for this market is the increasing availability of favorable financing options, rising demand for energy, and surging favorable government support,” says a senior analyst for the utility sector at Technavio. In addition, the rising support from NGOs in African and Asian countries is one of the key solar home systems market trends that is expected to impact the industry positively in the forecast period. Various NGOs are active in Tanzania, such as Solar Circle, a non-profit organization that promotes access to solar power in rural Tanzania, East Africa. Solar Circle also distributes solar cookers and lights in the Masasi district of Southern Tanzania to address the need for a clean and sustainable energy source as well as curb the high rates of deforestation.
However, one of the key challenges to the global solar home systems market growth is the competition from alternative sources of energy. Moreover, efforts are being directed to boost the growth of hydro and wind power generation. For instance, the State Grid Corp. of China has been resolving the bottleneck issues in the transmission and grid connection of wind power in the country. Furthermore, offshore wind power plants result in the production of a higher amount of electricity compared with their onshore counterparts, which may hamper the adoption of solar home systems.
Solar Home Systems Market Segment Highlights
- The solar home systems market share growth by the PAYG products segment will be significant during the forecast period.
- In the PAYG business model, companies rent out solar home systems, and consumers use basic mobile phones to make payments on a daily, weekly, or monthly basis.
- Thus, PAYG solar home systems are being used as an effective solution to provide people, particularly in African countries, with access to electricity, which will drive the segment growth.
Solar Home Systems Market Regional Analysis
- 47% of the market’s growth will originate from Middle East and Africa during the forecast period.
- Kenya and Uganda are the key markets for solar home systems in Middle East and Africa. Market growth in this region will be faster than the growth of the market in South America and APAC.
- The introduction of numerous initiatives by governments, such as USAID, in several countries will facilitate the solar home systems market growth in Middle East and Africa over the forecast period.
- Tanzania, China, and India will emerge as some of the key revenue-generating economies in the solar home systems Market in Middle East and Africa.
Vendor Analysis
- The solar home systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. This statistical study of the solar home systems market encompasses successful business strategies deployed by the key vendors.
- The solar home systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
- To make the most of the opportunities and recover from the post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Bboxx Ltd.
- Canadian Solar Inc.
- Cygni
- First Solar Inc.
- Hanwha Corp.
- Fosera Solarsystems GmbH and Co. KGaA
- JA Solar Technology Co. Ltd.
- Kyocera Corp.
- Lumos Global BV
- M KOPA
- NIWA Solar
- Offgridsun srl
- ovSolar Power Co. Ltd.
- Phocos AG
- Renewit Solar Ltd.
- Schneider Electric SE
- Sun King
- SolarNow BV
- Tata Sons Pvt. Ltd.
- Yingli Green Energy Holding Co. Ltd.
| Solar Home Systems Market Scope | |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2021 |
| Forecast period | 2022-2026 |
| Growth momentum & CAGR | Accelerate at a CAGR of 21.4% |
| Market growth 2022-2026 | $ 1.39 billion |
| Market structure | Fragmented |
| YoY growth (%) | 20.5 |
| Regional analysis | Middle East and Africa, APAC, South America, North America, and Europe |
| Performing market contribution | Middle East and Africa at 47% |
| Key consumer countries | Kenya, Uganda, Tanzania, China, and India |
| Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
| Companies profiled | Bboxx Ltd., Canadian Solar Inc., Cygni, First Solar Inc., Fosera Solarsystems GmbH and Co. KGaA, Hanwha Corp., JA Solar Technology Co. Ltd., Kyocera Corp., Lumos Global BV, M KOPA, NIWA Solar, Offgridsun srl, ovSolar Power Co. Ltd., Phocos AG, Renewit Solar Ltd., Schneider Electric SE, Sun King, SolarNow BV, Tata Sons Pvt. Ltd., and Yingli Green Energy Holding Co. Ltd. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Content
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 24: Chart on Type – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Type – Market share 2021-2026 (%)
- 5.2 Comparison by Type
- Exhibit 26: Chart on Comparison by Type
- Exhibit 27: Data Table on Comparison by Type
- 5.3 PAYG products – Market size and forecast 2021-2026
- Exhibit 28: Chart on PAYG products – Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on PAYG products – Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on PAYG products – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on PAYG products – Year-over-year growth 2021-2026 (%)
- 5.4 Cash products – Market size and forecast 2021-2026
- Exhibit 32: Chart on Cash products – Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Cash products – Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Cash products – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Cash products – Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Type
- Exhibit 36: Market opportunity by Type ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 42: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.4 APAC – Market size and forecast 2021-2026
- Exhibit 46: Chart on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.5 South America – Market size and forecast 2021-2026
- Exhibit 50: Chart on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.6 North America – Market size and forecast 2021-2026
- Exhibit 54: Chart on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.7 Europe – Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.8 Kenya – Market size and forecast 2021-2026
- Exhibit 62: Chart on Kenya – Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Kenya – Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Kenya – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Kenya – Year-over-year growth 2021-2026 (%)
- 7.9 China – Market size and forecast 2021-2026
- Exhibit 66: Chart on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.10 India – Market size and forecast 2021-2026
- Exhibit 70: Chart on India – Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on India – Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on India – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on India – Year-over-year growth 2021-2026 (%)
- 7.11 Uganda – Market size and forecast 2021-2026
- Exhibit 74: Chart on Uganda – Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Uganda – Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Uganda – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Uganda – Year-over-year growth 2021-2026 (%)
- 7.12 Tanzania – Market size and forecast 2021-2026
- Exhibit 78: Chart on Tanzania – Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Tanzania – Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Tanzania – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Tanzania – Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 86: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 87: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification
- 10.3 First Solar Inc.
- Exhibit 89: First Solar Inc. – Overview
- Exhibit 90: First Solar Inc. – Business segments
- Exhibit 91: First Solar Inc. – Key news
- Exhibit 92: First Solar Inc. – Key offerings
- Exhibit 93: First Solar Inc. – Segment focus
- 10.4 Hanwha Corp.
- Exhibit 94: Hanwha Corp. – Overview
- Exhibit 95: Hanwha Corp. – Product / Service
- Exhibit 96: Hanwha Corp. – Key news
- Exhibit 97: Hanwha Corp. – Key offerings
- 10.5 JA Solar Technology Co. Ltd.
- Exhibit 98: JA Solar Technology Co. Ltd. – Overview
- Exhibit 99: JA Solar Technology Co. Ltd. – Product / Service
- Exhibit 100: JA Solar Technology Co. Ltd. – Key offerings
- 10.6 Kyocera Corp.
- Exhibit 101: Kyocera Corp. – Overview
- Exhibit 102: Kyocera Corp. – Business segments
- Exhibit 103: Kyocera Corp. – Key offerings
- Exhibit 104: Kyocera Corp. – Segment focus
- 10.7 M KOPA
- Exhibit 105: M KOPA – Overview
- Exhibit 106: M KOPA – Product / Service
- Exhibit 107: M KOPA – Key offerings
- 10.8 NIWA Solar
- Exhibit 108: NIWA Solar – Overview
- Exhibit 109: NIWA Solar – Product / Service
- Exhibit 110: NIWA Solar – Key offerings
- 10.9 Renewit Solar Ltd.
- Exhibit 111: Renewit Solar Ltd. – Overview
- Exhibit 112: Renewit Solar Ltd. – Product / Service
- Exhibit 113: Renewit Solar Ltd. – Key offerings
- 10.10 Schneider Electric SE
- Exhibit 114: Schneider Electric SE – Overview
- Exhibit 115: Schneider Electric SE – Business segments
- Exhibit 116: Schneider Electric SE – Key news
- Exhibit 117: Schneider Electric SE – Key offerings
- Exhibit 118: Schneider Electric SE – Segment focus
- 10.11 Sun King
- Exhibit 119: Sun King – Overview
- Exhibit 120: Sun King – Product / Service
- Exhibit 121: Sun King – Key offerings
- 10.12 Tata Sons Pvt. Ltd.
- Exhibit 122: Tata Sons Pvt. Ltd. – Overview
- Exhibit 123: Tata Sons Pvt. Ltd. – Business segments
- Exhibit 124: Tata Sons Pvt. Ltd. – Key offerings
- Exhibit 125: Tata Sons Pvt. Ltd. – Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 126: Inclusions checklist
- Exhibit 127: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 128: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 129: Research methodology
- Exhibit 130: Validation techniques employed for market sizing
- Exhibit 131: Information sources
- 11.5 List of abbreviations
- Exhibit 132: List of abbreviations
