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
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| 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:
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By Application: |
Industrial
Commercial
Residential
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|
By Technology: |
Crystalline Silicon
Thin Film
Others
|
|
By Region:
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Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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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 report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Off Grid Solar Energy Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Off Grid Solar Energy Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2020-2026
7.2. Global Off Grid Solar Energy Market Value Share and Forecast, By Application, 2027-2033
7.3. Industrial
7.4. Commercial
7.5. 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, 2020-2026
8.2. Global Off Grid Solar Energy Market Value Share and Forecast, By Technology, 2027-2033
8.3. Crystalline Silicon
8.4. Thin Film
8.5. 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-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Qatar
10.5.4. South Africa
10.5.5. Egypt
10.5.6. Morocco
10.5.7. Nigeria
10.5.8. Rest of Middle East & Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. Azuri Technologies
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. BBOXX
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Barefoot power
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. d.light
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Fenix International
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Greenlight Planet
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Jaza Energy
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. M-KOPA Solar
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Nova Lumos
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Sunfire Solutions
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. 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.
