New York, NY -- (SBWIRE) -- 01/15/2021 -- Various efforts of governments across the world for the reduction of fossil fuels generated energy consumption is estimated to stimulate the demand. Market Size – USD 8.61 billion in 2019, Market Growth - CAGR of 16.8%, Market Trends – Surge in demand for rooftop solar PV setups in residential buildings.

The global Rooftop Solar Photovoltaic (PV) Installation Market is expected to reach USD 34.75 billion by 2027. A solar photovoltaic rooftop installation is a photovoltaic device used to produce electricity from a solar panel mounted on the rooftop of a commercial or residential building. Market demand is motivated by numerous policies and efforts undertaken by governments around the world to install solar photovoltaic rooftop systems to reduce the consumption of energy produced from non-renewable fossil fuels. Due to the increase in automation, the growth in industrialization and the increase in people's living standards, solar photovoltaic installations are also expected to contribute to a considerable percentage of the increasing demand for electricity.

An increase in demand for rooftop solar photovoltaic systems in residential buildings in order to save a certain share of energy costs, the demand for which is strong with technological advances to improve people's living standards by providing different appliances that consume electricity. The mounting demand for the installation of rooftop solar photovoltaic systems will also improve this aspect.

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The high cost of installing rooftop solar photovoltaic (PV) systems will play a major role in creating barriers to market development.

In the forecast period, the Asia Pacific market is expected to expand at a CAGR of around 17.1%, contributing to the largest market share. This can be due to the abundance of sunlight that this area receives, the increasing demand for energy, as well as the emerging need to find alternatives to this region's rapidly depleting fossil fuels.

Further key findings from the report suggest:
The installation of thin film type rooftop solar photovoltaic is expected to develop at the highest rate of 17.2% in the forecast years while retaining its market dominance. The biggest contribution to this form of market share is made by the inexpensive installation of thin film rooftop solar photovoltaic systems with highly efficient electricity generation.

With a CAGR of approximately 17% in the forecast duration, the installation of rooftop solar photovoltaic systems in residential buildings is expected to rise at the highest rate. The increase in the criteria for solar energy harvesting has led to an increase in market competition.

In the forecast period, the Asia Pacific market is expected to expand at a CAGR of about 17.1% and contribute to the highest market share. This can be due to the abundance of sunlight that this area receives, the increasing demand for energy, as well as the emerging need to find alternatives to this region's rapidly depleting fossil fuels.

Key participants include Panasonic Corporation, Canadian Solar, Yingli Green Energy Holding, Solar World, Suntech Power Holding, Trina Solar, Sunpower Corporation, Sharp Solar, Schott Solar, and Jinko Solar Holding Company.

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For the purpose of this report, the global rooftop solar photovoltaic installation market is segmented on the basis of type, application, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)
Crystalline Silicon
Thin Film

Application Outlook (Revenue, USD Billion; 2017-2027)
Residential
Non-Residential

Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
S.
Europe
Germany
K.
Asia Pacific
China
India
Latin America
Brazil
Middle East & Africa

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Table of contents

Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
3.1. Macro Indicators
3.1.1. Global deployment of Rooftop Solar Photovoltaic (PV) Installation
3.1.2. Global Rooftop Solar Photovoltaic (PV) Installation by type
3.1.3. Region-wise Rooftop Solar Photovoltaic (PV) Installation by application
Chapter 4. Rooftop Solar Photovoltaic (PV) Installation Market Segmentation & Impact Analysis

Continued…..

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