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Residential Solar PV Module Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Publisher Global Market Insights
Published Nov 08, 2024
Length 176 Pages
SKU # GMI19463502

Description

Residential Solar PV Module Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032


The global residential solar PV module market was valued at USD 48.4 billion in 2023 and is expected to exhibit 5.6% CAGR from 2024 to 2032. A solar photovoltaic (PV) module designed for residential use typically gets installed on rooftops, allowing homeowners to harness sunlight and convert it into electricity for household consumption or to supply the grid. These modules play a crucial role in home solar power systems, helping homeowners generate renewable energy and reduce their reliance on traditional power sources.

One of the primary factors driving market growth is the continuous decline in solar technology costs. Ongoing research and technological advancements in PV modules are making solar energy more affordable and efficient. Additionally, government policies, subsidies, and national plans aimed at expanding solar energy adoption are further fueling industry growth.

The market is segmented based on connectivity into on-grid and off-grid systems. The on-grid segment is expected to experience significant growth, with a projected compound annual growth rate (CAGR) of over 5% by 2032. This growth is driven by the increasing demand for electricity during peak hours and businesses incorporating on-grid systems as part of their sustainability strategies. Furthermore, government regulations promoting the expansion of solar energy infrastructure and reducing dependence on fossil fuels will further boost the adoption of on-grid systems in residential areas.

Investments in developing a strong supply chain for solar PV components and materials will also support market expansion. These investments are vital for ensuring a steady supply of resources needed to meet growing demand and enable efficient project development.

Regarding mounting options, the market is categorized into ground-mounted and rooftop systems. The rooftop segment is expected to see a substantial increase, reaching over USD 34.5 billion by 2032. Incentives introduced by governments to promote solar energy adoption and enhance the installation of rooftop solar systems will continue to drive growth. Additionally, advancements in technology, with a focus on precise and standardized solar products, will make residential solar PV systems more effective and attractive to consumers.

In the Asia Pacific region, the residential solar PV module market is forecast to grow at a CAGR of more than 3.5% by 2032. Increased environmental awareness, a shift toward sustainable living, and the availability of financing options like solar leasing and power purchase agreements (PPAs) will further boost market penetration. Furthermore, rising electricity demand, particularly in rural areas, will contribute to the region's solar power generation growth, driving the industry forward.

Table of Contents

176 Pages
Chapter 1 Research Methodology
1.1 Research design
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360 degree synopsis, 2021-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024 -2032
2.2.1.1 TAM trends
2.3 Regional trends
2.4 Component trends
2.5 Function trends
2.6 Technology trends
2.7 Application trends
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Telecommunication equipment suppliers
3.1.2 Virtualized and open RAN technology providers
3.1.3 Network Function Virtualization (NFV) and Software-Defined Networking (SDN) providers
3.1.4 Cloud-native and edge computing providers
3.1.5 System integrators
3.1.6 End users
3.2 Supplier landscape
3.3 Technology and innovation landscape
3.3.1 Software-Defined Networking (SDN)
3.3.2 Network Function Virtualization (NFV)
3.3.3 Artificial Intelligence (AI) and Machine Learning (ML)
3.3.4 Open RAN (O-RAN) architecture Â3.3.5 Cloud-Native and microservices architecture
3.3.6 Edge computing
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.6.1 North America
3.6.1.1 Federal Communications Commission (FCC) Regulations
3.6.1.2 Telecommunications Act of 1996
3.6.1.3 California Consumer Privacy Act (CCPA)
3.6.1.4 Telecommunications Act
3.6.2 Europe
3.6.2.1 General Data Protection Regulation (GDPR)
3.6.2.2 European Electronic Communications Code (EECC)
3.6.2.3 Spectrum Management
3.6.2.4 Cybersecurity and Network Security
3.6.2.5 International Data Transfers
3.6.3 Asia Pacific
3.6.3.1 Telecommunications Law
3.6.3.2 Telecom Regulatory Authority of India (TRAI)
3.6.3.3 Indian Telegraph Act
3.6.3.4 Telecommunications Business Law
3.6.3.5 Act on the Protection of Personal Information (APPI)
3.6.3.6 Korea Communications Commission (KCC)
3.6.3.7 Telecommunications Act 1997
3.6.3.8 Radiocommunications Act 1992
3.6.4 Latin America
3.6.4.1 National Entity for Communications (ENACOM)
3.6.4.2 Federal Telecommunications and Broadcasting Law:
3.6.4.3 Instituto Federal de Telecomunicaciones (IFT)
3.6.4.4 National Telecommunications Agency (ANATEL)
3.6.5 MEA
3.6.5.1 Electronic Communications Act (ECA)
3.6.5.2 Independent Communications Authority of South Africa (ICASA)
3.6.5.3 Communications and Information Technology Commission (CITC)
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing adoption of software-defined architectures
3.7.1.2 Efficiencies in network management and operations
3.7.1.3 Rapid deployment of next-gen networks
3.7.1.4 Demand for low-latency applications
3.7.2 Industry pitfalls and challenges
3.7.2.1 Cyberthreats to centralized control points
3.7.2.2 Complexity for implementation in existing network
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 PESTEL analysis
Chapter 4 Competitive Landscape
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 RAN Intelligent Controller Market, By Component
5.1 Key trends, by component
5.2 Platform
5.3 Services
Chapter 6 RAN Intelligent Controller Market, By Function
6.1 Key trends, by function
6.2 Non-real-time-ran intelligent controller
6.3 Near-real-time-ran intelligent controller
Chapter 7 RAN Intelligent Controller Market, By Technology
7.1 Key trends, by technology
7.2 4G
7.3 5G
Chapter 8 RAN Intelligent Controller Market, By Application
8.1 Key trends, by application
8.2 rApps
8.3 xApps
Chapter 9 RAN Intelligent Controller Market, By Region
9.1 Key trends, by region
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Latin America
9.6 MEA
Chapter 10 Company Profiles
10.1 Broadcom
10.1.1 Global Overview
10.1.2 Market/Business Overview
10.1.3 Financial Data
10.1.3.1 Sales Revenue, 2020-2023
10.1.4 Product Landscape
10.1.5 Strategic Outlook
10.1.6 SWOT analysis
10.2 Cisco Systems
10.2.1 Global Overview
10.2.2 Market/Business Overview
10.2.3 Financial Data
10.2.3.1 Sales Revenue, 2020-2023
10.2.4 Product Landscape
10.2.5 Strategic Outlook
10.2.6 SWOT Analysis
10.3 Fujitsu
10.3.1 Global Overview
10.3.2 Market/Business Overview
10.3.3 Financial Data
10.3.3.1 Sales Revenue, 2020-2023
10.3.4 Product Landscape
10.3.5 SWOT analysis
10.4 Huawei Technologies Co. Ltd.
10.4.1 Global Overview
10.4.2 Market/Business Overview
10.4.3 Financial Data
10.4.3.1 Sales Revenue, 2020-2023
10.4.4 Product Landscape
10.4.5 Strategic Outlook
10.4.6 SWOT analysis
10.5 Intel Corporation
10.5.1 Global Overview
10.5.2 Market/Business Overview
10.5.3 Financial Data
10.5.3.1 Sales Revenue, 2020-2023
10.5.4 Product Landscape
10.5.5 Strategic Outlook
10.5.6 SWOT analysis
10.6 Juniper Networks
10.6.1 Global Overview
10.6.2 Market/Business Overview
10.6.3 Financial Data
10.6.3.1 Sales Revenue, 2020-2023
10.6.4 Product Landscape
10.6.5 Strategic Outlook
10.6.6 SWOT analysis
10.7 Mavenir
10.7.1 Global Overview
10.7.2 Market/Business Overview
10.7.3 Financial Data
10.7.4 Product Landscape
10.7.5 Strategic Outlook
10.7.6 SWOT Analysis
10.8 NEC Corporation
10.8.1 Global Overview
10.8.2 Market/Business Overview
10.8.3 Financial Data
10.8.3.1 Sales Revenue, 2021-2023
10.8.4 Product Landscape
10.8.5 Strategic Outlook
10.8.6 SWOT Analysis
10.9 Nokia
10.9.1 Global Overview
10.9.2 Market/Business Overview
10.9.3 Financial Data
10.9.3.1 Sales Revenue, 2021-2023
10.9.4 Product Landscape
10.9.5 Strategic Outlook
10.9.6 SWOT Analysis
10.10 Parallel Wireless
10.10.1 Global Overview
10.10.2 Market/Business Overview
10.10.3 Financial Data
10.10.4 Product Landscape
10.10.5 Strategic Outlook
10.10.6 SWOT Analysis
10.11 Rakuten Symphony Singapore Pte. Ltd.
10.11.1 Global Overview
10.11.2 Market/Business Overview
10.11.3 Financial Data
10.11.4 Product Landscape
10.11.5 Strategic Outlook
10.11.6 SWOT Analysis
10.12 Samsung
10.12.1 Global Overview
10.12.2 Market/Business Overview
10.12.3 Financial Data
10.12.3.1 Sales Revenue, 2020-2023
10.12.4 Product Landscape
10.12.5 Strategic Outlook
10.12.6 SWOT Analysis
10.13 Telefonaktiebolaget LM Ericsson
10.13.1 Global Overview
10.13.2 Market/Business Overview
10.13.3 Financial Data
10.13.3.1 Sales Revenue, 2021-2024
10.13.4 Product Landscape
10.13.5 Strategic Outlook
10.13.6 SWOT Analysis
10.14 VIAVI Solutions Inc.
10.14.1 Global Overview
10.14.2 Market/Business Overview
10.14.3 Financial Data
10.14.3.1 Sales Revenue, 2021-2024
10.14.4 Product Landscape
10.14.5 Strategic Outlook
10.14.6 SWOT Analysis
10.15 VMware, Inc.
10.15.1 Global Overview
10.15.2 Market/Business Overview
10.15.3 Financial Data
10.15.3.1 Sales Revenue, 2020-2023
10.15.4 Product Landscape
10.15.5 Strategic Outlook
10.15.6 SWOT Analysis
10.16 Vodafone Group
10.16.1 Global Overview
10.16.2 Market/Business Overview
10.16.3 Financial Data
10.16.3.1 Sales Revenue, 2020-2023
10.16.4 Product Landscape
10.16.5 Strategic Outlook
10.16.6 SWOT Analysis
10.17 ZTE Corporation
10.17.1 Global Overview
10.17.2 Market/Business Overview
10.17.3 Financial Data
10.17.3.1 Sales Revenue, 2020-2023
10.17.4 Product Landscape
10.17.5 Strategic Outlook
10.17.6 SWOT Analysis
10.18 Research practices
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Chapter 1 Research Methodology
1.1.1 Research approach
1.1.2 Data collection methods
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.4.1 Primary sources
1.4.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry snapshot
2.2 Business trends
2.3 Regional trends
2.4 Connectivity trends
2.5 Mounting trends
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.2.1 International Electrotechnical Commission
3.2.2 International Organization for Standardization
3.2.3 UL 1703: Safety and Performance Standard
3.2.4 UL 61730: Comprehensive Safety Qualification
3.2.5 North America
3.2.5.1 U.S.
3.2.5.1.1 Permitting and inspection
3.2.5.1.2 Fire Codes
3.2.5.1.3 Electrical Codes
3.2.5.1.4 Zoning Regulations for Solar
3.2.5.1.5 Solar Access and Rights
3.2.5.1.6 Licensing and Certification
3.2.5.1.7 Third Party Certification
3.2.5.1.8 Clean Energy Standards
3.2.5.1.9 State Mandated Equipment Standards
3.2.5.1.10 Florida Solar Energy Standards Act
3.2.5.1.12 Solar Investment Tax Credit (ITC)
3.2.5.2 Canada
3.2.5.3 Mexico
3.2.5.3.1 Subsidies and Programs
3.2.6 Europe
3.2.6.1 The European Green Deal
3.2.6.2 UK
3.2.6.2.1 Microgeneration Certification Scheme
3.2.6.2.2 Regulation Permissions Associated with a Solar Panel System . 52
3.2.6.3 Building Regulations
3.2.6.4 Department of Energy and Climate Change
3.2.6.4.1 The UK's Solar PV Strategy:
3.2.6.5 Solar Grants
3.2.6.6 Austria
3.2.6.6.1 Renewable Energy Expansion Act (EAG)
3.2.6.6.2 Policies for energy sector transformation
3.2.6.7 Netherlands
3.2.6.7.1 SDE+ and SDE++ support scheme
3.2.6.8 Denmark
3.2.6.8.1 Energy and climate Strategy
3.2.6.8.2 Governments Political Framework
3.2.6.9 France
3.2.6.10 Germany
3.2.6.10.1 Incentive Policies
3.2.6.11 Spain
3.2.6.11.1 Social Policies
3.2.6.12 Sweden
3.2.6.12.1 The 2016 Energy Agreement
3.2.6.13 Switzerland
3.2.6.13.1 Solar Installations and Regulatory Plans
3.2.7 Asia Pacific
3.2.7.1 China
3.2.7.1.1 China Whole County PV Programme
3.2.7.2 Australia
3.2.7.2.1 Australian Model Regulation
3.2.7.2.2 Government Policies for Rooftop Solar Installations
3.2.7.3 Japan
3.2.7.3.1 Regulatory Framework
3.2.7.3.2 The Feed-In Premium (FIP) Scheme
3.2.7.3.3 Japan's new Strategic Energy Plan
3.2.7.4 India
3.2.7.4.1 Legislative Framework
3.2.7.4.2 National Solar Mission
3.2.7.4.3 MNRE Guidelines
3.2.7.5 Indonesia
3.2.7.5.1 Legislative Framework
3.2.7.6 Vietnam
3.2.8 Middle East
3.2.8.1 Oman
3.2.8.1.1 SAHIM Scheme
3.2.8.2 UAE
3.2.8.2.1 License and Exemption
3.2.8.2.2 Energy Netting scheme
3.2.8.3 Saudi Arabia
3.2.8.3.1 Capacity Limit Criteria
3.2.9 Africa
3.2.9.1 South Africa
3.2.9.1.1 Solar energy tax credit
3.2.9.2 Egypt
3.2.9.2.1 Energy Subsidies
3.2.9.2.2 Renewable Energy Framework
3.2.9.3 Nigeria
3.2.9.3.1 Renewable Energy Master Plan (REMP)
3.2.9.3.2 National Renewable Energy and Energy Efficiency Policy (NREEEP)
3.2.9.3.3 NERC Mini-Grid Regulation 2016
3.2.9.3.4 Solar Hybrid Mini Grid Fund
3.2.9.3.5 Nigerian Economic Sustainability Plan (NESP)
3.2.10 Latin America
3.2.10.1 Brazil
3.2.10.2 Chile
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Rising demand for sustainable energy
3.3.1.2 Favorable government programs and initiatives
3.3.1.3 Ambitious solar PV targets across the economies
3.3.2 Industry pitfalls & challenges
3.3.2.1 Availability of clean energy alternatives
3.4 Growth potential analysis
3.5 Porter's analysis
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of new entrants
3.5.4 Threat of substitutes
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Strategic dashboard
4.2.1 JA SOLAR Technology Co., Ltd
4.2.1.1 Award recognition
4.2.1.2 Agreement
4.2.1.3 Business expansion
4.2.2 Indosolar
4.2.2.1 Business expansion
4.2.3 JinkoSolar
4.2.3.1 Agreement
4.2.3.2 Memorandum of Understanding (MoU)
4.2.3.3 Award recognition
4.2.4 Trina Solar
4.2.4.1 Business expansion
4.2.4.2 Collaboration
4.2.5 Canadian Solar
4.2.5.1 Agreement
4.2.5.2 Partnership
4.2.5.3 Investment
4.2.5.4 Business expansion
4.2.6 Tata Power
4.2.6.1 Partnership
4.2.7 CHINT Group
4.2.7.1 Agreement
4.2.8 Yingli Solar
4.2.8.1 Contract
4.2.9 SunPower Corporation
4.2.9.1 Investment
4.2.9.2 Agreement
4.2.9.3 Partnership
4.2.9.4 Acquisition
4.2.9.5 Program launch
4.2.10 First Solar
4.2.10.1 Contract
4.2.10.2 Acquisition
4.2.10.3 Investment
4.2.10.4 Installation/Supply
4.2.11 RENESOLA
4.2.11.1 Business expansion
4.2.11.2 Investment
4.2.12 LONGi
4.2.12.1 Project Development
4.2.13 The Solaria Corporation
4.2.13.1 Acquisition
4.2.14 SOLAR FRONTIER K.K.
4.2.14.1 Agreement
4.2.14.2 Memorandum of Understanding (MoU)
4.2.15 Shunfeng International Clean Energy Co., Ltd
4.2.15.1 Partnership
4.2.16 VIKRAM SOLAR LTD.
4.2.16.1 Business expansion
4.2.17 LG Electronics
4.2.17.1 Collaboration
4.3 Innovation and technology landscape
4.3.1 LONGi
4.3.2 VIKRAM SOLAR LTD.
4.3.3 Canadian Solar
4.3.4 JinkoSolar
4.3.5 RISEN ENERGY Co., LTD
4.3.6 Trina Solar
4.3.7 Yingli Solar
4.3.8 JA SOLAR Technology Co., Ltd
4.3.9 RENESOLA
4.3.10 The Solaria Corporation
4.3.11 LG Electronics
4.3.12 SunPower Corporation
Chapter 5 Market, By Connectivity
5.1 Key trends
5.2 On grid
5.3 Off grid
Chapter 6 Market, By Mounting
6.1 Key trends
6.2 Ground Mounted
6.3 Rooftop
Chapter 7 Market, By Region
7.1 Key trends
7.2 North America
7.3 Europe
7.4 Asia Pacific
7.5 Middle East
7.6 Africa
7.7 Latin America
Chapter 8 Company Profiles
8.1 Canadian Solar
8.1.1 Global Overview
8.1.2 Market/Business Overview
8.1.3 Financial Data
8.1.4 Product Landscape
8.1.5 Strategic Outlook
8.1.6 SWOT Analysis
8.2 CHINT Group
8.2.1 Global Overview
8.2.2 Market/Business Overview
8.2.3 Financial Data
8.2.4 Product Landscape
8.2.5 Strategic Outlook
8.2.6 SWOT Analysis
8.3 First Solar
8.3.1 Global Overview
8.3.2 Market/Business Overview
8.3.3 Financial Data
8.3.4 Product Landscape
8.3.5 Strategic Outlook
8.3.6 SWOT Analysis
8.4 Indosolar
8.4.1 Global Overview
8.4.2 Market/Business Overview
8.4.3 Financial Data
8.4.4 Product Landscape
8.4.5 Strategic Outlook
8.4.6 SWOT Analysis
8.5 JA SOLAR Technology Co., Ltd
8.5.1 Global Overview
8.5.2 Market/Business Overview
8.5.3 Financial Data
8.5.4 Product Landscape
8.5.5 Strategic Outlook
8.5.6 SWOT Analysis
8.6 JinkoSolar
8.6.1 Global Overview
8.6.2 Market/Business Overview
8.6.3 Financial Data
8.6.4 Product Landscape
8.6.5 Strategic Outlook
8.6.6 SWOT Analysis
8.7 LG Electronics
8.7.1 Global Overview
8.7.2 Market/Business Overview
8.7.3 Financial Data
8.7.4 Product Landscape
8.7.5 Strategic Outlook
8.7.6 SWOT Analysis
8.8 LONGi
8.8.1 Global Overview
8.8.2 Market/Business Overview
8.8.3 Financial Data
8.8.4 Product Landscape
8.8.5 Strategic Outlook
8.8.6 SWOT Analysis
8.9 Motech Industries Inc.
8.9.1 Global Overview
8.9.2 Market/Business Overview
8.9.3 Financial Data
8.9.4 Product Landscape
8.9.5 SWOT Analysis
8.10 RENESOLA
8.10.1 Global Overview
8.10.2 Market/Business Overview
8.10.3 Financial data
8.10.4 Product Landscape
8.10.5 Strategic Outlook
8.10.6 SWOT Analysis
8.11 RISEN ENERGY Co., LTD
8.11.1 Global Overview
8.11.2 Market/Business Overview
8.11.3 Financial Data
8.11.4 Product Landscape
8.11.5 Strategic Outlook
8.11.6 SWOT Analysis
8.12 Shunfeng International Clean Energy Co., Ltd
8.12.1 Global Overview
8.12.2 Market/Business Overview
8.12.3 Financial Data
8.12.4 Product Landscape
8.12.5 Strategic outlook
8.12.6 SWOT analysis
8.13 SOLAR FRONTIER K.K.
8.13.1 Global Overview
8.13.2 Market/Business Overview
8.13.3 Financial Data
8.13.4 Product Landscape
8.13.5 SWOT Analysis
8.14 SunPower Corporation
8.14.1 Global Overview
8.14.2 Market/Business Overview
8.14.3 Financial Data
8.14.4 Product Landscape
8.14.5 Strategic Outlook
8.14.6 SWOT Analysis
8.15 The Solaria Corporation
8.15.1 Global Overview
8.15.2 Market/Business Overview
8.15.3 Financial Data
8.15.4 Product Landscape
8.15.5 SWOT Analysis
8.16 Trina Solar
8.16.1 Global Overview
8.16.2 Market/Business Overview
8.16.3 Financial Data
8.16.4 Product Landscape
8.16.5 Strategic Outlook
8.16.6 SWOT Analysis
8.17 VIKRAM SOLAR LTD.
8.17.1 Global Overview
8.17.2 Market/Business Overview
8.17.3 Financial Data
8.17.4 Product Landscape
8.17.5 Strategic Outlook
8.17.6 SWOT Analysis
8.18 Yingli Solar
8.18.1 Global Overview
8.18.2 Market/Business Overview
8.18.3 Financial Data
8.18.4 Product Landscape
8.18.5 Strategic Outlook
8.18.6 SWOT Analysis

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