(MENAFN- PR Newswire) NEW YORK, March 27, 2023 /PRNewswire/ -- The size of the solar energy market in south africa is estimated to increase by 23.31 terawatt-hour units from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of
29.74%. Sunny climatic conditions are driving market growth. South Africa is located in a latitude zone with higher solar radiation than other regions or countries. Government policies and high investments in solar PV projects are expected to increase the installed solar PV capacity of the country in the coming years. Such factors are expected to impact market growth during the forecast period positively. However, the high initial investment and maintenance costs for solar PV systems are challenging market growth. The generation of solar energy requires a large area for solar panels. The efficiency of solar panels can reduce due to intermittency problems, which increases the initial investment and maintenance costs. This, in turn, leads to a significant burden on household users, which limits the use of solar panels and solar cover glass for residential purposes. Such factors are expected to hinder the solar energy market growth in South Africa during the forecast period. Discover some insights about the market before buying the full report
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![Technavio has announced its latest market research report titled Solar Energy Market in South Africa]( "Technavio has announced its latest market research report titled Solar Energy Market in South Africa")
Technavio has announced its latest market research report titled Solar Energy Market in South Africa
Solar energy market in South Africa – Vendor analysis
Vendor Landscape –
The solar energy market in South Africa is fragmented , with the presence of numerous international and regional players. A few prominent vendors in the market are ARTsolar Pty Ltd., Canadian Solar Inc., Enel SPA, ENGIE SA, IBC Solar AG, JinkoSolar Holding Co. Ltd., Renenergy South Africa Pty Ltd., Jiangsu Seraphim Solar System Co. Ltd., SunPower Corp., and Trina Solar Co. Ltd.
The competition among vendors is moderate, and their growth is dependent on R&D and innovations. Frequent changes in government policies, continuous developments in technology, and environmental regulations are driving the growth of the solar market in South Africa. The declining prices of solar PV systems and stringent regulations related to carbon emissions will further attract investors.
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Vendor offerings -
Canadian Solar Inc. -
The company offers solar energy products under the BiHiKu7 brand. It offers solar modules, solar system kits, battery energy storage solutions, and other materials, components, and services. IBC Solar AG -
The company offers solar energy products under the Longi brand. JinkoSolar Holding Co. Ltd -
The company offers solar energy products under the Suntank brand. ARTsolar Pty Ltd. -
The company offers solar energy products under the Alpha brand. It also manufactures crystalline solar panels. For details about vendors and their offerings –
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Solar energy market in South Africa - Segmentation assessment
Segment overview
Technavio has segmented the market based on end-user (utility and rooftop) and application (grid-connected and off-grid).
The utility segment will account for a significant share of the market growth during the forecast period. A large number of installations of large-scale solar power plants for the generation of clean energy and reduction of carbon emissions is driving the growth of this segment. The energy can also be stored in energy storage systems when there is no sunlight. Such factors will increase the adoption of utility-scale solar power in South Africa during the forecast period.
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Solar energy market in South Africa – Key trends
Scaling up renewables in transport
will be a key trend in the solar energy market in South Africa. The country is focusing on carbon emission reduction and renewable energy to fulfill its energy requirements. For instance, Cape Town plans to procure only zero-emission vehicles by 2025. Its Electric Vehicle Framework includes leveraging EV roll-out and charging to increase the share of renewables. The city is considering mandating public EV charging stations to operate on renewable energy, which will require the electrification of transport systems. These factors, in turn, will accelerate the adoption of solar energy sources for power generation during the forecast period.
trends have an impact on market dynamics, which can impact businesses. find more insights in a sample report!
What are the key data covered in this report?
CAGR of the market during the forecast period Detailed information about factors that will drive the growth of the solar energy market in South Africa between 2022 and 2026 Precise estimation of the size of the solar energy market in South Africa and its contribution to the parent market Accurate predictions about upcoming trends and changes in consumer behavior A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth vendors
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| Solar Energy Market Scope in South Africa |
| Report Coverage | Details |
| Forecast period | 2022-2026 |
| Growth momentum & CAGR | Accelerate at a CAGR of 29.74% |
| Market growth 2022-2026 | 23.31 terawatt-hour units |
| Market structure | Fragmented |
| YoY growth 2021-2022
(%) | 24.80 |
| Competitive landscape | Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
| Key companies profiled | ARTsolar Pty Ltd., Canadian Solar Inc., Enel SPA, ENGIE SA, IBC Solar AG, JinkoSolar Holding Co. Ltd., Renenergy South Africa Pty Ltd., Jiangsu Seraphim Solar System Co. Ltd., SunPower Corp., and Trina Solar Co. Ltd. |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of contents
1. Executive Summary
1.1 Market Overview
Exhibit 01:
Key Finding 1
Exhibit 02:
Key Finding 2
Exhibit 03:
Key Finding 5
Exhibit 04:
Key Finding 6
Exhibit 05:
Key Finding 7
2. Market Landscape
2.1 Market ecosystem
Exhibit 06:
Parent market
Exhibit 07:
Market characteristics
2.2 Value chain analysis
Exhibit 08:
Value chain analysis: Renewable electricity
2.2.1 Inputs
2.2.2 Electricity generation
2.2.3 Electricity transmission
2.2.4 Electricity distribution
2.2.5 End-users
2.2.6 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 09:
Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10:
Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 11:
Global - Market size and forecast 2021 - 2026 (TWh)
Exhibit 12:
Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 13:
Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 14:
Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 15: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 16:
Threat of new entrants
4.5 Threat of substitutes
Exhibit 17: Threat of substitutes
4.6 Threat of rivalry
Exhibit 18: Threat of rivalry
4.7 Market condition
Exhibit 19:
Market condition - Five forces 2021
5. Market Segmentation by Application
5.1 Market segments
The segments covered in this chapter are:
Exhibit 20:
Application - Market share 2021-2026 (%)
5.2 Comparison by Application
Exhibit 21:
Comparison by Application
5.3 Grid-connected - Market size and forecast 2021-2026
Exhibit 22:
Grid-connected - Market size and forecast 2021-2026 (TWh)
Exhibit 23:
Grid-connected - Year-over-year growth 2021-2026 (%)
5.4 Off-grid - Market size and forecast 2021-2026
Exhibit 24:
Off-grid - Market size and forecast 2021-2026 (TWh)
Exhibit 25:
Off-grid - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Application
Exhibit 26:
Market opportunity by Application
6. Market Segmentation by End-user
6.1 Market segments
The segments covered in this chapter are:
Exhibit 27:
End-user - Market share 2021-2026 (%)
6.2 Comparison by End-user
Exhibit 28:
Comparison by End-user
6.3 Utility - Market size and forecast 2021-2026
Exhibit 29:
Utility - Market size and forecast 2021-2026 (TWh)
Exhibit 30:
Utility - Year-over-year growth 2021-2026 (%)
6.4 Rooftop - Market size and forecast 2021-2026
Exhibit 31:
Rooftop - Market size and forecast 2021-2026 (TWh)
Exhibit 32:
Rooftop - Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by End-user
Exhibit 33:
Market opportunity by End-user
7. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
7.1 Overview
Exhibit 34:
Customer landscape
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Sunny climatic conditions
8.1.2 Rising adoption of renewable energy source
8.1.3 Rising government initiative
8.2 Market challenges
8.2.1 High initial investment and maintenance cost for solar PV systems
?8.2.2 Increasing number of alternative energy sources
8.2.3 Intermittency in solar power generation
Exhibit 35:
Impact of drivers and challenges
8.3 Market trends
8.3.1 Scaling up renewables in transport
8.3.2 Declining cost of solar PV panels
8.3.3 Increasing adoption of microgrids
9. Vendor Landscape
9.1 Overview
Exhibit 36:
Vendor landscape
9.2 Landscape disruption
Exhibit 37:
Landscape disruption
Exhibit 38:
Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 44:
Vendors covered
10.2 Market positioning of vendors
Exhibit 45: Market positioning of vendors
10.3 ARTsolar Pty Ltd.
Exhibit 41:
ARTsolar Pty Ltd. - Overview
Exhibit 42:
ARTsolar Pty Ltd. - Product and service
Exhibit 43:
ARTsolar Pty Ltd. - Key offerings
10.4 Canadian Solar Inc.
Exhibit 44:
Canadian Solar Inc. - Overview
Exhibit 45:
Canadian Solar Inc. - Business segments
Exhibit 46:
Canadian Solar Inc. - Key offerings
Exhibit 47:
Canadian Solar Inc. - Segment focus
10.5 Enel SPA
Exhibit 48:
Enel SPA - Overview
Exhibit 49:
Enel SPA - Business segments
Exhibit 50:
Enel SPA - Key offerings
10.6 ENGIE SA
Exhibit 51:
ENGIE SA - Overview
Exhibit 52:
ENGIE SA - Business segments
Exhibit 53:
ENGIE SA - Key offerings
Exhibit 54:
ENGIE SA - Segment focus
10.7 IBC Solar AG
Exhibit 55:
IBC Solar AG - Overview
Exhibit 56:
IBC Solar AG - Product and service
Exhibit 57:
IBC Solar AG - Key offerings
10.8 Jiangsu Seraphim Solar System Co. Ltd.
Exhibit 58:
Jiangsu Seraphim Solar System Co. Ltd. - Overview
Exhibit 59:
Jiangsu Seraphim Solar System Co. Ltd. - Business segments
Exhibit 60:
Jiangsu Seraphim Solar System Co. Ltd. - Key offerings
10.9 JinkoSolar Holding Co. Ltd.
Exhibit 61:
JinkoSolar Holding Co. Ltd. - Overview
Exhibit 62:
JinkoSolar Holding Co. Ltd. - Business segments
Exhibit 63:
JinkoSolar Holding Co. Ltd. - Key offerings
10.10 Renenergy South Africa Pty Ltd.
Exhibit 64:
Renenergy South Africa Pty Ltd. - Overview
Exhibit 65:
Renenergy South Africa Pty Ltd. - Product and service
Exhibit 66:
Renenergy South Africa Pty Ltd. - Key offerings
10.11 SunPower Corp.
Exhibit 67:
SunPower Corp. - Overview
Exhibit 68:
SunPower Corp. - Business segments
Exhibit 69:
SunPower Corp. - Key offerings
Exhibit 70:
SunPower Corp. - Segment focus
10.12 Trina Solar Co. Ltd.
Exhibit 71:
Trina Solar Co. Ltd. - Overview
Exhibit 72:
Trina Solar Co. Ltd. - Business segments
Exhibit 73:
Trina Solar Co. Ltd. - Key offerings
Exhibit 74:
Trina Solar Co. Ltd. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 75:
Currency conversion rates for US$
11.3 Research Methodology
Exhibit 76:
Research Methodology
Exhibit 77:
Validation techniques employed for market sizing
Exhibit 78:
Information sources
11.4 List of abbreviations
Exhibit 79:
List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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