The Asia Pacific Solar Power Equipment Market would witness market growth of 11.6% CAGR during the forecast period (2021-2027).
The widespread utilization of fossil fuels for a variety of purposes, including transportation and energy generation, has had a significant negative influence on the environment, leading to a rise in global warming. As a result of increased worldwide awareness of fossil fuel depletion and its harmful impact on the environment, the demand for renewable energy supplies such as solar energy has emerged. The reduction of carbon emissions, while maximizing renewable energy resources is one of the most important requirements of the modern era. As a result, governments all over the world have implemented laws and measures to strengthen the renewable energy industry. Due to this, the number of domestic, nonresidential, and commercial solar energy users has surged, developing a market for solar power equipment.
The rising attention of governments in numerous nations to rely on solar energy has also driven the demand for solar power equipment. For example, approximately, 30% additional solar energy capacity in 2018 was installed all over the world. Solar power's ability to generate electricity without any fuel expenses, global warming, and risk of fuel price surges has been a significant driver in its adoption across the world. The solar power equipment market is also driven by a desire to lessen reliance on foreign oil and fossil fuels.
To endorse the significance of clean energy, the government of India established the International Solar Alliance, which strives to promote solar energy utilization while reducing reliance on fossil fuels. Countries from all over the world have shown interest to become a part of this alliance. Over the next ten years, the Asia Pacific market is expected to grow at a high rate. This is due to an increase in solar system installation, government programs to upgrade and optimize the utilization of renewable energy, as well as policies such as feed-in-tariff, particularly in China and India. Additionally, increased public awareness of the advantages of solar energy is aiding the growth of the solar power equipment market. Moreover, increased demand for clean and renewable energy, rapid urbanization, industrialization, and economic growth are predicted to boost the region's solar power equipment market.
The China market dominated the Asia Pacific Solar Power Equipment Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $27,260.6 Million by 2027. The Japan market is anticipated to grow at a CAGR of 10.9% during (2021 - 2027). Additionally, The India market would display a CAGR of 12.3% during (2021 - 2027).
Based on Equipment, the market is segmented into Solar Panels, Mounting, Racking, & Tracking System, and Storage System, and Others. Based on Application, the market is segmented into Utility, Residential, and Non-Residential. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Solar Power Equipment Market is Projected to reach USD 202.4 Billion by 2027, at a CAGR of 11.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Canadian Solar Inc., First Solar, Inc., Hanwha Q CELLS Co., Ltd., LONGi Green Energy Technology Co., Ltd., SunPower Corporation, Shunfeng International Clean Energy Co., Ltd., Jinko Solar Holding Co., Ltd., Trina Solar Co., Ltd., JA Solar Holdings Co., Ltd., and ABB Group.
Scope of the Study
Market Segments Covered in the Report:
By Equipment
- Solar Panels
- Mounting, Racking, & Tracking System
- Storage System
- Others
By Application
- Utility
- Residential
- Non-Residential
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Canadian Solar Inc.
- First Solar, Inc.
- Hanwha Q CELLS Co., Ltd.
- LONGi Green Energy Technology Co., Ltd.
- SunPower Corporation
- Shunfeng International Clean Energy Co., Ltd.
- Jinko Solar Holding Co., Ltd.
- Trina Solar Co., Ltd.
- JA Solar Holdings Co., Ltd.
- ABB Group
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Solar Power Equipment Market, by Equipment
1.4.2 Asia Pacific Solar Power Equipment Market, by Application
1.4.3 Asia Pacific Solar Power Equipment Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Business Expansions
3.2.5 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2020, Feb – 2022, Feb) Leading Players
Chapter 4. Asia Pacific Solar Power Equipment Market by Equipment
4.1 Asia Pacific Solar Panels Market by Country
4.2 Asia Pacific Mounting, Racking, & Tracking System Market by Country
4.3 Asia Pacific Storage System Market by Country
4.4 Asia Pacific Others Market by Country
Chapter 5. Asia Pacific Solar Power Equipment Market by Application
5.1 Asia Pacific Utility Market by Country
5.2 Asia Pacific Residential Market by Country
5.3 Asia Pacific Non-Residential Market by Country
Chapter 6. Asia Pacific Solar Power Equipment Market by Country
6.1 China Solar Power Equipment Market
6.1.1 China Solar Power Equipment Market by Equipment
6.1.2 China Solar Power Equipment Market by Application
6.2 Japan Solar Power Equipment Market
6.2.1 Japan Solar Power Equipment Market by Equipment
6.2.2 Japan Solar Power Equipment Market by Application
6.3 India Solar Power Equipment Market
6.3.1 India Solar Power Equipment Market by Equipment
6.3.2 India Solar Power Equipment Market by Application
6.4 South Korea Solar Power Equipment Market
6.4.1 South Korea Solar Power Equipment Market by Equipment
6.4.2 South Korea Solar Power Equipment Market by Application
6.5 Singapore Solar Power Equipment Market
6.5.1 Singapore Solar Power Equipment Market by Equipment
6.5.2 Singapore Solar Power Equipment Market by Application
6.6 Malaysia Solar Power Equipment Market
6.6.1 Malaysia Solar Power Equipment Market by Equipment
6.6.2 Malaysia Solar Power Equipment Market by Application
6.7 Rest of Asia Pacific Solar Power Equipment Market
6.7.1 Rest of Asia Pacific Solar Power Equipment Market by Equipment
6.7.2 Rest of Asia Pacific Solar Power Equipment Market by Application
Chapter 7. Company Profiles
7.1 Canadian Solar Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.2 First Solar, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.3 Hanwha Q CELLS Co., Ltd. (Hanwha Group)
7.3.1 Company Overview
7.3.2 Recent strategies and developments:
7.3.2.1 Partnerships, Collaborations, and Agreements:
7.3.2.2 Product Launches and Product Expansions:
7.3.2.3 Acquisition and Mergers:
7.4 LONGi Green Energy Technology Co., Ltd.
7.4.1 Company Overview
7.4.2 Recent strategies and developments:
7.4.2.1 Product Launches and Product Expansions:
7.5 SunPower Corporation (Infineon Technologies AG)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.5.5.2 Product Launches and Product Expansions:
7.5.5.3 Acquisition and Mergers:
7.6 Shunfeng International Clean Energy Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.7 Jinko Solar Holding Co., Ltd.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.8 Trina Solar Co., Ltd.
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Product Launches and Product Expansions:
7.8.2.2 Acquisition and Mergers:
7.8.2.3 Business Expansions:
7.9 JA Solar Holdings Co., Ltd.
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Partnerships, Collaborations, and Agreements:
7.9.2.2 Product Launches and Product Expansions:
7.10. ABB Group
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 Recent strategies and developments:
7.10.5.1 Geographical Expansions:
TABLE 1 Asia Pacific Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 2 Asia Pacific Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Solar Power Equipment Market
TABLE 4 Product Launches And Product Expansions – Solar Power Equipment Market
TABLE 5 Acquisition and Mergers – Solar Power Equipment Market
TABLE 6 Business Expansions – Solar Power Equipment Market
TABLE 7 Geographical Expansions – Solar Power Equipment Market
TABLE 8 Asia Pacific Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 9 Asia Pacific Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 10 Asia Pacific Solar Panels Market by Country, 2017 - 2020, USD Million
TABLE 11 Asia Pacific Solar Panels Market by Country, 2021 - 2027, USD Million
TABLE 12 Asia Pacific Mounting, Racking, & Tracking System Market by Country, 2017 - 2020, USD Million
TABLE 13 Asia Pacific Mounting, Racking, & Tracking System Market by Country, 2021 - 2027, USD Million
TABLE 14 Asia Pacific Storage System Market by Country, 2017 - 2020, USD Million
TABLE 15 Asia Pacific Storage System Market by Country, 2021 - 2027, USD Million
TABLE 16 Asia Pacific Others Market by Country, 2017 - 2020, USD Million
TABLE 17 Asia Pacific Others Market by Country, 2021 - 2027, USD Million
TABLE 18 Asia Pacific Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 19 Asia Pacific Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 20 Asia Pacific Utility Market by Country, 2017 - 2020, USD Million
TABLE 21 Asia Pacific Utility Market by Country, 2021 - 2027, USD Million
TABLE 22 Asia Pacific Residential Market by Country, 2017 - 2020, USD Million
TABLE 23 Asia Pacific Residential Market by Country, 2021 - 2027, USD Million
TABLE 24 Asia Pacific Non-Residential Market by Country, 2017 - 2020, USD Million
TABLE 25 Asia Pacific Non-Residential Market by Country, 2021 - 2027, USD Million
TABLE 26 Asia Pacific Solar Power Equipment Market by Country, 2017 - 2020, USD Million
TABLE 27 Asia Pacific Solar Power Equipment Market by Country, 2021 - 2027, USD Million
TABLE 28 China Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 29 China Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 30 China Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 31 China Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 32 China Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 33 China Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 34 Japan Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 35 Japan Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 36 Japan Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 37 Japan Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 38 Japan Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 39 Japan Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 40 India Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 41 India Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 42 India Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 43 India Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 44 India Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 45 India Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 46 South Korea Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 47 South Korea Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 48 South Korea Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 49 South Korea Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 50 South Korea Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 51 South Korea Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 52 Singapore Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 53 Singapore Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 54 Singapore Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 55 Singapore Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 56 Singapore Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 57 Singapore Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 58 Malaysia Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 59 Malaysia Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 60 Malaysia Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 61 Malaysia Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 62 Malaysia Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 63 Malaysia Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 64 Rest of Asia Pacific Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 65 Rest of Asia Pacific Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 66 Rest of Asia Pacific Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 67 Rest of Asia Pacific Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 68 Rest of Asia Pacific Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 69 Rest of Asia Pacific Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 70 Key Information – Canadian Solar Inc.
TABLE 71 Key Information – First Solar, Inc.
TABLE 72 Key Information – Hanwha Q CELLS Co., Ltd.
TABLE 73 Key Information – LONGi Green Energy Technology Co., Ltd.
TABLE 74 Key Information – SunPower Corporation
TABLE 75 Key Information – Shunfeng International Clean Energy Co., Ltd.
TABLE 76 Key information – Jinko Solar Holding Co., Ltd.
TABLE 77 Key information – Trina Solar Co., Ltd.
TABLE 78 Key information – JA SOLAR Technology Co., Ltd.
TABLE 79 Key Information – ABB Group
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2020, Feb – 2022, Feb) Leading Players
FIG 5 Recent strategies and developments: Hanwha Q CELLS Co., Ltd.
FIG 6 Recent strategies and developments: SunPower Corporation
FIG 7 Recent strategies and developments: Trina Solar Co., Ltd.
FIG 8 Recent strategies and developments: JA Solar Holdings Co., Ltd.