Off Grid Solar Energy Market Growth, Size, Trends, Share, Revenue, Demand and Future Outlook
Off Grid Solar Energy Market Size- By Application, By Technology- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Apr-2024 | Report ID: POAE2431 | Pages: 1 - 205 | Formats*: |
| Category : Power & Energy | |||
Off Grid Solar Energy Market Introduction and Overview
According to SPER Market Research, the Global Off Grid Solar Energy Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Global Off Grid Solar Energy Market, including market size and trends, product mix, applications, and supplier analysis. Users of off-grid solar energy systems can achieve total energy independence in terms of both production and consumption. The general public is better familiar with off-grid solar energy solutions. Customers that use this type of solar energy generating are linked to the nearby utility grid. The extra energy produced is sent back into the grid in return for credits that can be used at a later time. On the other hand, using local utility grid infrastructure is not necessary when using off-grid solar energy. This indicates that users of off-grid solar energy systems are independent of other parties and can meet their own energy demands. This kind of energy generating setup comes with benefits and drawbacks.
- September 2019: A call for bids was released by the Maharashtra Energy Development Agency (MEDA) in September 2019 in order to establish 126 kW of off-grid solar power plants, 88 solar street lights, and 10 solar base high masts at different places in Amravati, Maharashtra, India. The call was extended to qualified parties.
- October 2018: At the Fekola gold mine in Mali, West Africa, B2Gold authorized $38 million in October 2018 for the installation of one of the largest off-grid solar battery hybrid systems in the world.
Market Opportunities and Challenges
The growing popularity of off-grid solar systems as a practical and long-term option for rural electrification and energy access has an impact on the off-grid solar industry. In fact, the cost of off-grid solar buildings has decreased since solar photovoltaic (PV) technology has become less expensive. These structures are a competitively priced solution for rural places since they do not require extensive grid infrastructure and the related transmission and distribution expenditures. The off-grid solar industry has grown as a result of the development of contemporary off-grid solar technologies such larger photovoltaic (PV) panels, energy storage systems, and eco-friendly products.
Policies for market expansion are challenged by limited battery storage capacity. The limits arising from battery capacity will provide a barrier to the off-grid solar energy sector globally. Because they are enormous buildings, on-grid systems have a lot of battery storage. Off-grid solutions do, however, have limitations because of the implanted batteries' finite capacity for storage. As a result, users must utilize energy wisely and pay attention to the battery power that is stored.
Market Competitive Landscape
Prominent businesses in the industry, as well as joint ventures (JVs), partnerships, collaborations, and other commercial agreements in addition to mergers and acquisitions (M&As). Several notable entities in the worldwide Off Grid Solar Energy industry comprise Azuri Technologies, Barefoot Power, BBOXX, d.light, Fenix International, Greenlight Planet, M-KOPA Solar, Mobisol, Nova Lumos, Sunfire Solutions.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Application, By Technology |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Azuri Technologies, Barefoot Power, BBOXX, d.light, Fenix International, Greenlight Planet, M-KOPA Solar, Mobisol, Nova Lumos, Sunfire Solutions. |
COVID-19 Impact on Global Off Grid Solar Energy Market
The impact of COVID-19 on the world economy varies daily. It's really tough for the renewable energy industry, which means there will be a shortage of raw materials and even job losses. Businesses operating in the energy and power industry are presently facing a variety of challenges as a result of a decline in electricity costs subsequent to the COVID-19 outbreak. Moreover, the largest market for solar energy generation is China. The country's slowing economic development has had an influence on global investment in renewable energy and total generation.
Key Target Audience:
- Rural and Remote Residents
- Outdoor Enthusiasts and Recreation Users
- Commercial Enterprises in Remote Location
- Humanitarian and Development Organizations
- Preppers and Self-Sufficiency Advocates
- Government and Policy Makers
- Eco-Conscious Consumers
- Architects and Residential Developers
Our in-depth analysis of the Off Grid Solar Energy Market includes the following segments:
| By Application: |
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| By Technology: |
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| By Region: |
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Key Topics Covered in the Report:
- Global Off Grid Solar Energy Market Size (FY’2024-FY’2033)
- Overview of Global Off Grid Solar Energy Market
- Segmentation of Global Off Grid Solar Energy Market By Application (Industrial,
- Commercial, Residential)
- Segmentation of Global Off Grid Solar Energy Market By Technology (Crystalline Silicon, Thin Film, Others).
- Statistical Snap of Global Off Grid Solar Energy Market
- Expansion Analysis of Global Off Grid Solar Energy Market
- Problems and Obstacles in Global Off Grid Solar Energy Market
- Competitive Landscape in the Global Off Grid Solar Energy Market
- Impact of COVID-19 and Demonetization on Global Off Grid Solar Energy Market
- Details on Current Investment in Global Off Grid Solar Energy Market
- Competitive Analysis of Global Off Grid Solar Energy Market
- Prominent Players in the Global Off Grid Solar Energy Market
- SWOT Analysis of Global Off Grid Solar Energy Market
- Global Off Grid Solar Energy Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Off Grid Solar Energy Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Off Grid Solar Energy Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Off Grid Solar Energy Market
7. Global Off Grid Solar Energy Market, By Application (USD Million) 2020-2033
7.1. Global Off Grid Solar Energy Market Value Share and Forecast, By Application, 2020-20267.2. Global Off Grid Solar Energy Market Value Share and Forecast, By Application, 2027-20337.3. Industrial7.4. Commercial7.5. Residential
8. Global Off Grid Solar Energy Market, By Technology (USD Million)2020-2033
8.1. Global Off Grid Solar Energy Market Value Share and Forecast, By Technology, 2020-20268.2. Global Off Grid Solar Energy Market Value Share and Forecast, By Technology, 2027-20338.3. Crystalline Silicon8.4. Thin Film8.5. Others
9. Global Off Grid Solar Energy Market Forecast, 2020-2033 (USD Million)
9.1. Global Off Grid Solar Energy Market Size and Market Share
10. Global Off Grid Solar Energy Market, By Region, 2020-2033 (USD Million)
10.1. Global Off Grid Solar Energy Market Size and Market Share By Region (2020-2026)10.2. Global Off Grid Solar Energy Market Size and Market Share By Region (2027-2033)10.3. Asia-Pacific10.3.1. Australia10.3.2. China10.3.3. India10.3.4. Japan10.3.5. South Korea10.3.6. Rest of Asia-Pacific10.4. Europe10.4.1. France10.4.2. Germany10.4.3. Italy10.4.4. Spain10.4.5. United Kingdom10.4.6. Rest of Europe10.5. Middle East and Africa10.5.1. Kingdom of Saudi Arabia10.5.2. United Arab Emirates10.5.3. Qatar10.5.4. South Africa10.5.5. Egypt10.5.6. Morocco10.5.7. Nigeria10.5.8. Rest of Middle East & Africa10.6. North America10.6.1. Canada10.6.2. Mexico10.6.3. United States10.7. Latin America10.7.1. Argentina10.7.2. Brazil10.7.3. Rest of Latin America
11. Company Profile
11.1. Azuri Technologies11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments11.2. BBOXX11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments11.3. Barefoot power11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments11.4. d.light11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments11.5. Fenix International11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments11.6. Greenlight Planet11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments11.7. Jaza Energy11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments11.8. M-KOPA Solar11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments11.9. Nova Lumos11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments11.10. Sunfire Solutions11.10.1. Company details11.10.2. Financial outlook11.10.3. Product summary11.10.4. Recent developments11.11. Others
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Off Grid Solar Energy Market is projected to reach USD XX billion by 2033, growing at a CAGR of XX% during the forecast period.
Off Grid Solar Energy Marketsize from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of XX% during the forecast period.
Off Grid Solar Energy Market CAGR of XX% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Off Grid Solar Energy Market Segment is covered By Application, By Technology.
The North America anticipated to have the highest market share in the Off Grid Solar Energy Market .
The key players in the market include Companies Covered Azuri Technologies, Barefoot Power, BBOXX, d.light, Fenix International, Greenlight Planet, M-KOPA Solar, Mobisol, Nova Lumos, Sunfire Solutions.
These structures are a competitively priced solution for rural places since they do not require extensive grid infrastructure and the related transmission and distribution expenditures.
Off Grid Solar Energy Market size is XX billion from 2024 to 2033.
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